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21-Oct-2019

ASLAN PHARMACEUTICALS ANNOUNCES CLOSING OF US$3 MILLION LOAN FACILITY

Singapore, 18 October 2019 – ASLAN Pharmaceuticals (Nasdaq:ASLN, TPEx:6497), a clinical-stage oncology and immunology focused biopharma company, today announced it has secured a US$3 million loan facility provided by the company’s chairman, members of the board, and several major investors. The loan facility will be used to provide the company with additional working capital to support ongoing research and development programs and clinical studies. 

Commenting on the loan facility, Dr Carl Firth, Chief Executive Officer, ASLAN Pharmaceuticals said: “This loan facility puts ASLAN in a stronger cash position leading up to our significant clinical readouts in the fourth quarter. These anticipated data include the topline results for varlitinib in second line biliary tract cancer from the pivotal TreeTopp trial expected in November, as well as the first efficacy data from ASLAN004 in moderate to severe atopic dermatitis in early 2020. We are grateful for our existing stakeholder’s confidence in our development pipeline and ongoing financial support as we approach these important clinical milestones.”  

About ASLAN Pharmaceuticals 

ASLAN Pharmaceuticals(Nasdaq:ASLN, TPEx:6497) is a clinical-stage oncology and immunology focused biopharma company targeting cancers that are both highly prevalent in Asia and orphan indications in the United States and Europe. Led by a senior management team with extensive experience in global and regional development and commercialisation, ASLAN is headquartered in Singapore and has offices in Taiwan and China. ASLAN’s clinical portfolio is comprised of three product candidates which target validated growth pathways applied to new patient segments, novel immune checkpoints and novel cancer metabolic pathways. ASLAN’s partners include Array BioPharma, Bristol-Myers Squibb, Almirall and CSL. For additional information please visit www.aslanpharma.com 

 

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Last Updated: 21-Oct-2019