ASLAN Announces Intention To Launch An Initial Public Offering On Taipei Exchange
Singapore and Taipei, Taiwan, 26 April 2017 – ASLAN Pharmaceuticals (ASLAN; 6497.TT), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, today announced it intends to launch an initial public offering (IPO) on the Taipei Exchange in mid May and expects to start trading in early June 2017.
ASLAN will be holding an auction for its proposed IPO in mid May. An investor forum will be held on 27 April 2017 at Le Meridien Taipei. KGI Securities is the lead underwriter for the IPO. ASLAN applied for the listing with Qualified Technology Enterprise (QTE) status and a paid-in capital of NT$1,157 million (US$36.5 million).
Dr Carl Firth, Chief Executive Officer, ASLAN Pharmaceuticals, said: “Taiwan has a strong biotech public market, and investors are knowledgeable, experienced and have strong interest in this industry. ASLAN has grown significantly over the years, and we believe an IPO in Taiwan will enable us to implement our development strategy going forward.”
ASLAN also announced today that the China Food and Drug Administration has accepted ASLAN’s clinical trial application to initiate a phase 2 study of its lead asset, varlitinib, for the treatment of biliary tract cancer. The phase 2 study will investigate the efficacy of varlitinib as a second line therapy for patients with biliary tract cancer. The study will commence in the fourth quarter of 2017.
Earlier this week, ASLAN announced the approval of a US Investigational New Drug application to begin a global pivotal study for varlitinib in biliary tract cancer. These two clinical studies are part of ASLAN’s strategy to secure global approvals for varlitinib in biliary tract cancer.
Varlitnib is a potent, reversible, small molecule pan-HER inhibitor and is currently being developed across multiple indications including biliary tract cancer, gastric cancer, metastatic breast cancer and metastatic colorectal cancer. It has been awarded Orphan Drug Designation by the US FDA for cholangiocarcinoma, and most recently received Orphan Drug Designation from the Korea FDA for biliary tract cancer.
ASLAN inlicensed varlitinib from Array BioPharma and has exclusive global rights for all indications.
Ends
Media contact
Chris Fang
ASLAN Pharmaceuticals
Tel: +886 2 2757 6700
E-mail: investor@aslanpharma.com
Emma Thompson / Stephanie Tan
Spurwing Communications
Tel: +65 6340 7287
Email: ASLAN@spurwingcomms.com
About varlitinib (ASLAN001) Varlitinib (ASLAN001) is a potent small molecule inhibitor of the HER-family of receptor tyrosine kinases (RTKs). The type I RTK family consists of four distinct but closely related receptors: epidermal growth factor receptor (EGFR, ErbB1, HER1), epidermal growth factor receptor 2 (HER2, ErbB2), epidermal growth factor receptor 3 (HER3, ErbB3), and epidermal growth factor receptor 4 (HER4, ErbB4). Varlitinib is a potent, reversible, small molecule inhibitor of EGFR, HER2 and HER4. In a large variety of cancers, the overexpression and/or constitutive activation of EGFR and HER2 are often observed and frequently correlate with poor clinical prognosis. Therefore, by inhibiting the activation of the HER receptors via varlitinib, effects such as shrinkage of the tumour and longer survival can be anticipated. Varlitinib is currently being studied in biliary tract, breast and gastric cancers. Varlitinib has been granted orphan drug status in the USA for cholangiocarcinoma and gastric cancer and was awarded orphan drug status for the treatment of advanced biliary tract cancer after first line systemic therapy by the Korean MFDS. About ASLAN Pharmaceuticals ASLAN Pharmaceuticals is an oncology focused biotechnology company developing a portfolio of immunotherapies and targeted drugs, focusing on Asia prevalent tumour types. Led by a highly experienced management team with global pharmaceutical expertise, ASLAN is headquartered in Singapore with a platform that reaches across the region via its offices in Taiwan, China and Australia, enabling the Company to conduct and support regional clinical development programmes. The Company is developing 5 drugs addressing multiple indications including biliary tract cancer, gastric cancer and breast cancer. ASLAN has several compounds in late stage development: varlitinib (ASLAN001), a pan-HER inhibitor which has completed phase 2 studies in gastric and breast cancer, and is entering pivotal studies for biliary tract cancer; and ASLAN002 (partnered with BMS), a RON and cMET inhibitor in phase 2 development for gastric and breast cancer. www.aslanpharma.com
Dr Carl Firth, Chief Executive Officer, ASLAN Pharmaceuticals, said: “Taiwan has a strong biotech public market, and investors are knowledgeable, experienced and have strong interest in this industry. ASLAN has grown significantly over the years, and we believe an IPO in Taiwan will enable us to implement our development strategy going forward.”
ASLAN also announced today that the China Food and Drug Administration has accepted ASLAN’s clinical trial application to initiate a phase 2 study of its lead asset, varlitinib, for the treatment of biliary tract cancer. The phase 2 study will investigate the efficacy of varlitinib as a second line therapy for patients with biliary tract cancer. The study will commence in the fourth quarter of 2017.
Earlier this week, ASLAN announced the approval of a US Investigational New Drug application to begin a global pivotal study for varlitinib in biliary tract cancer. These two clinical studies are part of ASLAN’s strategy to secure global approvals for varlitinib in biliary tract cancer.
Varlitnib is a potent, reversible, small molecule pan-HER inhibitor and is currently being developed across multiple indications including biliary tract cancer, gastric cancer, metastatic breast cancer and metastatic colorectal cancer. It has been awarded Orphan Drug Designation by the US FDA for cholangiocarcinoma, and most recently received Orphan Drug Designation from the Korea FDA for biliary tract cancer.
ASLAN inlicensed varlitinib from Array BioPharma and has exclusive global rights for all indications.
Ends
Media contact
Chris Fang
ASLAN Pharmaceuticals
Tel: +886 2 2757 6700
E-mail: investor@aslanpharma.com
Emma Thompson / Stephanie Tan
Spurwing Communications
Tel: +65 6340 7287
Email: ASLAN@spurwingcomms.com
About varlitinib (ASLAN001) Varlitinib (ASLAN001) is a potent small molecule inhibitor of the HER-family of receptor tyrosine kinases (RTKs). The type I RTK family consists of four distinct but closely related receptors: epidermal growth factor receptor (EGFR, ErbB1, HER1), epidermal growth factor receptor 2 (HER2, ErbB2), epidermal growth factor receptor 3 (HER3, ErbB3), and epidermal growth factor receptor 4 (HER4, ErbB4). Varlitinib is a potent, reversible, small molecule inhibitor of EGFR, HER2 and HER4. In a large variety of cancers, the overexpression and/or constitutive activation of EGFR and HER2 are often observed and frequently correlate with poor clinical prognosis. Therefore, by inhibiting the activation of the HER receptors via varlitinib, effects such as shrinkage of the tumour and longer survival can be anticipated. Varlitinib is currently being studied in biliary tract, breast and gastric cancers. Varlitinib has been granted orphan drug status in the USA for cholangiocarcinoma and gastric cancer and was awarded orphan drug status for the treatment of advanced biliary tract cancer after first line systemic therapy by the Korean MFDS. About ASLAN Pharmaceuticals ASLAN Pharmaceuticals is an oncology focused biotechnology company developing a portfolio of immunotherapies and targeted drugs, focusing on Asia prevalent tumour types. Led by a highly experienced management team with global pharmaceutical expertise, ASLAN is headquartered in Singapore with a platform that reaches across the region via its offices in Taiwan, China and Australia, enabling the Company to conduct and support regional clinical development programmes. The Company is developing 5 drugs addressing multiple indications including biliary tract cancer, gastric cancer and breast cancer. ASLAN has several compounds in late stage development: varlitinib (ASLAN001), a pan-HER inhibitor which has completed phase 2 studies in gastric and breast cancer, and is entering pivotal studies for biliary tract cancer; and ASLAN002 (partnered with BMS), a RON and cMET inhibitor in phase 2 development for gastric and breast cancer. www.aslanpharma.com