AIM ImmunoTech Engages Business Development Firm, Azenova, LLC to Catalyze Partnering, Development and Commercialization Efforts for Ampligen® Pipeline Programs
17 October 2023 - 11:45PM
AIM ImmunoTech Engages Business Development Firm, Azenova, LLC to
Catalyze Partnering, Development and Commercialization Efforts for
Ampligen® Pipeline Programs
AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM”)
today announced it has entered into an agreement with Azenova, LLC
(“Azenova”), a professional business development (BD) consulting
firm, to support efforts to partner AIM’s pipeline programs with a
particular focus on the company’s lead asset, Ampligen®, for the
treatment of various malignant solid tumors.
Azenova has been engaged to assist AIM with its
BD efforts with the goal of entering into a partnership,
out-license or other transaction whereby a biopharmaceutical
company takes on the further development and commercialization of
Ampligen® with the goal of maximizing value to AIM. This process
may not result in any transaction and the company does not intend
to disclose additional details unless and until it has entered into
a definitive agreement.
“With our growing body of compelling clinical
data, we believe Ampligen® has significant potential to provide a
therapeutic solution for a wide range of cancers, immune disorders
and viral diseases. We believe the timing of our engagement with
Azenova perfectly aligns their BD expertise with our strategic
vision to maximize the opportunities for our Ampligen® pipeline
programs and to unlock significant value in the asset,” commented
AIM Chief Executive Officer Thomas K. Equels.
Azenova provides a wide range of services to
support clients in their partnership, licensing, and other
transactional activities. This includes determining opportunities
for partnership (assets and technologies), identification and
assessment of potential partners and leading all steps involved in
engaging partners and establishing definitive BD transaction
agreements. Azenova’s principals, Jeff Southerton, PhD, MBA, and
Stacy Evans, MD, MBA, have more than 50 years of combined BD
experience in the biopharmaceutical industry leading transactions
across a wide range of deal structures in multiple therapeutic
areas, including significant experience in oncology.
“With AIM’s emerging data showing the promise of
Ampligen® as a therapeutic across a pipeline of malignant and often
end-stage solid tumors, Azenova is excited to be formally engaged
by AIM to assist the company with materializing a potential value
inflecting BD transaction for the company,” commented founder of
Azenova, Jeff Southerton.
About AIM ImmunoTech Inc.
AIM ImmunoTech Inc. is an immuno-pharma company
focused on the research and development of therapeutics to treat
multiple types of cancers, immune disorders and viral diseases,
including COVID-19. The Company’s lead product is a first-in-class
investigational drug called Ampligen® (rintatolimod), a dsRNA and
highly selective TLR3 agonist immuno-modulator with broad spectrum
activity in clinical trials for globally important cancers, viral
diseases and disorders of the immune system.
For more information, please
visit aimimmuno.com and connect with the Company
on Twitter, LinkedIn, and Facebook.
Cautionary Statement
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,”
“expect,” “plan,” “anticipate” and similar expressions (as well as
other words or expressions referencing future events or
circumstances) are intended to identify forward-looking statements.
Many of these forward-looking statements involve a number of risks
and uncertainties. Among other things, for those statements, the
Company claims the protection of safe harbor for forward-looking
statements contained in the PSLRA. No assurance can be given that
the agreement with Azenova will result in a partnership,
out-license or other transaction whereby a biopharmaceutical
company takes on the further development and commercialization of
Ampligen. The company does not undertake to update any of these
forward-looking statements to reflect events or circumstances that
occur after the date hereof.
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