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Almac Discovery Enters Into Licensing Agreement for the Development & Commercialisation of ALM301

Belfast, UK, 14 May 2020 – Almac Discovery, a member of the Almac Group, has announced an out-licensing partnership with an undisclosed biotechnology company in order to advance the development and commercialisation of one of its portfolio projects - ALM301.

ALM301 is a novel, patent-protected, potent, subtype selective Akt kinase inhibitor with good pharmacokinetic properties across multiple species, and an excellent selectivity profile. It has demonstrated robust efficacy in pre-clinical prostate, breast and other cancer xenograft models, both as a single agent and in combination with standard chemotherapeutic agents, where synergy has been observed.

The molecule is currently in late-stage pre-clinical development, and the partner will complete this before progressing into the clinical development phase.

Dr Stephen Barr, Managing Director & President, Almac Discovery said, “This new out-licensing agreement represents a further example of the business model we have pursued at Almac Discovery in action - namely the discovery of new, innovative drug candidates for development through external partnerships and collaborations.”

This announcement comes just two weeks after Almac Discovery disclosed a new strategic collaboration with MSD on selected Deubiquitinase (DUB) enzyme therapeutic targets for neurodegenerative disease. In addition, in March, the company also announced the clinical advancement by its partner Debiopharm (Switzerland), of Debio 0123, an oral, potent and highly selective WEE-1 inhibitor, in combination with carboplatin in patients with advanced solid tumors. The molecule was initially discovered and developed by Almac Discovery, before being out-licensed to Debiopharm in 2017.

Almac Discovery has grown from strength to strength with four significant agreements signed in the past five years. It continues to build its internal pipeline through partnerships and collaborations to drive forward a dedicated effort towards the development of novel therapeutics for the treatment of disease, and to make a real and lasting contribution towards the advancement of human health.