The acquisition positions
“Avila Therapeutics is a remarkable company that is aligned with our
commitment to improve the lives of patients worldwide through innovative
science and disease-altering therapies,” said
“Celgene and Avila are uniquely matched, both strategically and
The transaction has been approved by the Board of Directors of each
company and is subject to customary closing conditions, including the
expiration or termination of the applicable waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976. Under the terms of
the merger agreement,
About Avila Therapeutics™, Inc.
Avila Therapeutics is a clinical-stage biotechnology company focused on
the design and development of targeted covalent drugs to achieve best-in
class outcomes. The company’s product pipeline has been built using its
proprietary Avilomics™ platform and is currently focused on cancer,
viral infection and autoimmune disease. Avila’s most advanced product
candidate, AVL-292, a potential treatment for cancer and autoimmune
diseases, is currently in Phase I clinical testing. Avila is funded by
leading venture capital firms: Abingworth,
About AVL-292 and Bruton’s Tyrosine Kinase (Btk)
AVL-292 is a novel, orally available, covalent drug that inhibits Bruton’s tyrosine kinase (Btk). Inhibition of Btk is a promising new approach to treatment of diseases that are driven by B cells, including certain hematologic cancers such as non-Hodgkin’s lymphoma and B-cell chronic lymphocytic leukemia and autoimmune diseases such as rheumatoid arthritis.
AVL-292 selectively and covalently bonds to Btk to inactivate and silence its activity. This mechanism of action confers greater target selectivity and a longer duration of action than is typical of conventional small molecule drugs. In preclinical studies, AVL-292 was efficacious in a variety of animal disease models. AVL-292 is in clinical development and has successfully completed two Phase Ia clinical studies to date.
About Targeted Covalent Drugs
Targeted covalent drugs are new small-molecule medicines that have the unique opportunity not simply to inhibit disease-causing proteins, but to "silence" them completely. This is because targeted covalent drugs do not merely "bind" to a protein, but they form a durable "bond," which shuts down the protein's activity throughout the life of the protein leading to two primary benefits; precise selectivity and retained efficacy against mutations. Avila is the first company to design and develop targeted covalent drugs robustly, systematically and across the vast majority of target classes. This is enabled by Avila’s proprietary Avilomics™ platform.
This press release contains forward-looking statements, which are
generally statements that are not historical facts. Forward-looking
statements can be identified by the words "expects," "anticipates,"
"believes," "intends," "estimates," "plans," "will," “outlook” and
similar expressions. Forward-looking statements are based on
management’s current plans, estimates, assumptions and projections, and
speak only as of the date they are made. We undertake no obligation to
update any forward-looking statement in light of new information or
future events, except as otherwise required by law. Forward-looking
statements involve inherent risks and uncertainties, most of which are
difficult to predict and are generally beyond our control. Actual
results or outcomes may differ materially from those implied by the
forward-looking statements as a result of the impact of a number of
factors, many of which are discussed in more detail in our Annual Report
on Form 10-K and our other reports filed with the