Immune Therapeutics Announces Plan to Acquire Aletheia Therapeutics to Create a New Precision Oncology Company
The Planned Acquisition Would Enhance the Management Team, Provide Capital and Bring Additional Oncology Assets to Immune’s Pipeline
ORLANDO, Fla., Dec. 16, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Immune Therapeutics, Inc. (OTCQB: IMUN) ("Immune", “IMUN” or the "Company") and Aletheia Therapeutics Corp. (“Aletheia”), a
privately held development-stage oncology therapeutics company, today announced that Immune will acquire Aletheia in an all-stock transaction. Pursuant to completion of a definitive
agreement, Immune will acquire all of the outstanding shares of Aletheia in exchange for Immune common stock. In connection with the acquisition, the Aletheia management team will join the
leadership of the combined Company as well as selected Board members of Aletheia.
Over the past several years researchers have demonstrated that cancer is inherently heterogenous and a single tumor can have up to one hundred different cell phenotypes. This knowledge has led to a new approach in cancer therapy in that targeting several different biological targets in cancer provides for better efficacy and lower toxicity. Specifically, a combination of drugs that each target an independent critical pathway in cancer growth is becoming widely recognized as the future of cancer treatment. The combined company will be focused on developing and commercializing precision cancer therapies by simultaneously targeting two or more of the following biological targets depending on the make-up of a patients’ cancer: DNA repair, T-cell activation, metabolic dysfunction, angiogenesis, apoptosis or inflammation.
“With this acquisition we will be able to develop a diverse platform of therapies that target multiple critical biological pathways that will be designed for an individual’s cancer,” said Michael Handley, chief executive officer and president, Immune Therapeutics. “The combination of Aletheia’s diverse oncology product pipeline with Immune’s Lodonal and MENK product candidates will create an industry leading oncology company.”
“Following an extensive evaluation and diligence process, the Immune Board of Directors concluded that the acquisition of Aletheia, with a strong platform technology, seasoned leadership team, and compelling clinical development plan, offered an excellent opportunity to create shareholder value for Immune,” stated Dr. Roscoe Moore, the chairman of Immunes Board of Directors. “We believe Aletheia represents an attractive acquisition target for Immune, offering a novel approach to creating precision therapies for cancer patients with unmet medical needs.”