ASLAN Pharmaceuticals Announces Strategic Prioritisation of Clinical Development Programs and Corporate Restructuring
29 Januar 2019 - 11:40PM
ASLAN Pharmaceuticals (Nasdaq:ASLN, TPEx:6497), a clinical-stage
oncology-focused biopharmaceutical company developing novel
therapeutics for global markets, today announced a strategic
corporate restructuring to focus its resources on its lead clinical
programs: varlitinib in biliary tract cancer (BTC), ASLAN003 in
acute myeloid leukaemia (AML) and ASLAN004 in atopic dermatitis.
ASLAN will focus its resources on the late-stage development of
varlitinib as a potential novel treatment for first- and
second-line BTC. Enrolment in a global pivotal study of varlitinib
in second-line BTC, the TreeTopp (TREatmEnT OPPortunity) study, was
completed ahead of schedule in December 2018 and topline data is
expected in the second half of 2019. ASLAN will be closing the
ongoing single-arm second-line BTC study in China as it is now
expected to read out after the TreeTopp study. If positive, data
from the TreeTopp study will be used to submit a New Drug
Application (NDA) in China, the US and other major geographies.
ASLAN recently reported positive phase 1b results from an
ongoing study of varlitinib as a first-line treatment for BTC which
demonstrated that varlitinib increased objective response rate
compared to standard of care and this study will continue to
recruit patients to strengthen this dataset.
The clinical development of ASLAN003 in AML and ASLAN004 in
atopic dermatitis remains on track. ASLAN expects to complete
the first part of the phase 2 study of ASLAN003 in AML and the
phase 1 SAD study of ASLAN004 in the first half of 2019.
Following this strategic review, ASLAN will reduce its cost
base, including a reduction in headcount by 30%. In total, the
planned changes will lower operational costs by 50%. ASLAN does not
expect to incur any material restructuring charges.
In addition to the reduction in headcount, Dr Bertil Lindmark,
currently Chief Medical Officer, has announced he will retire and
return to Europe. Dr Chih-Yi Hsieh, currently VP Medical and
GM Taiwan, will assume the role of acting Chief Medical Officer. Dr
Mark McHale, Chief Operating Officer, will transition to the role
of Chief Development Officer and Head of R&D with immediate
effect.
Dr Carl Firth, Chief Executive Officer, ASLAN
Pharmaceuticals, said: “We remain committed to ensuring
the most effective use of capital to support the development of our
three key assets, varlitinib, ASLAN003 and ASLAN004, each of which
have the potential to be critical value-drivers. We are approaching
several significant milestones in 2019 and beyond, so it is
important we complete key studies over the next two years.
Restructuring the organisation has involved some tough decisions.
It is difficult to lose outstanding members of the team who have
contributed to ASLAN over the years and have tackled some of the
most challenging obstacles to advancing new treatments for
cancer.”
Media and IR contacts
Emma
ThompsonSpurwing CommunicationsTel: +65 6340 7287Email:
ASLAN@spurwingcomms.com |
Robert
UhlWestwicke PartnersTel: +1 858 356 5932Email:
robert.uhl@westwicke.com |
About ASLAN Pharmaceuticals ASLAN
Pharmaceuticals (Nasdaq:ASLN, TPEx:6497) is a clinical-stage
oncology-focused biopharmaceutical company developing novel
therapeutics for global markets. ASLAN targets diseases 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 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.
Forward looking statementsThis release and the
accompanying financial information, if any, contains
forward-looking statements. These statements are based on the
current beliefs and expectations of the management of ASLAN
Pharmaceuticals Limited and/or its affiliates (the "Company").
These forward-looking statements may include, but are not limited
to, statements regarding the Company’s business strategy, the
Company’s plans to develop and commercialise its product
candidates, the safety and efficacy of the Company’s product
candidates, the Company’s plans and expected timing with respect to
regulatory filings and approvals, and the size and growth potential
of the markets for the Company’s product candidates. The Company’s
estimates, projections and other forward-looking statements are
based on management's current assumptions and expectations of
future events and trends, which affect or may affect the Company’s
business, strategy, operations or financial performance, and
inherently involve significant known and unknown risks and
uncertainties. Actual results and the timing of events could
differ materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which
include, without limitation the risk factors described in the
Company’s US Securities and Exchange Commission filings and reports
(Commission File No. 001-38475), including the Company’s prospectus
dated May 8, 2018 filed with the US Securities and Exchange
Commission on such date.
All statements other than statements of historical fact are
forward-looking statements. The words “believe,” “may,” “might,”
“could,” “will,” “aim,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “plan,” or the negative of those terms, and
similar expressions that convey uncertainty of future events or
outcomes are intended to identify estimates, projections and other
forward-looking statements. Estimates, projections and other
forward-looking statements speak only as of the date they were
made, and, except to the extent required by law, the Company
undertakes no obligation to update or review any estimate,
projection or forward-looking statement.
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