Apollomics (APLM) terminates APL-122 collaboration and license with Edison
Rhea-AI Filing Summary
Apollomics Inc. reports that it has terminated its development and license agreement with Edison Oncology Holding Corporation covering APL-122, an oral, irreversible pan-ErbB inhibitor targeting EGFR, HER2 and HER4 for ErbB-positive cancers with central nervous system metastases. The company states it ended the collaboration effective immediately based on Edison’s failure to meet certain material performance and reporting obligations and is disputing any outstanding payment claims.
Apollomics indicates that it does not expect this termination to have a material adverse effect on its overall financial condition or results of operations, and notes that information about the termination is being incorporated by reference into its existing registration statements.
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Insights
Apollomics ends an APL-122 license with Edison but does not expect a material financial impact.
Apollomics has terminated its development and license agreement with Edison Oncology Holding Corporation covering APL-122, an oral pan-ErbB inhibitor designed to penetrate the blood-brain barrier for ErbB-positive cancers with CNS metastases. The agreement, originally signed on
The company states that it terminated the agreement effective immediately because Edison did not fulfill certain material performance and reporting obligations. It also disputes any outstanding payment obligations claimed by Edison and says it will vigorously defend its position while reserving all contractual and legal rights.
Importantly for investors, Apollomics states that it does not expect this termination to have a material adverse effect on its overall financial condition or results of operations. Information about the termination is incorporated by reference into its Form S-8 and Form F-3 registration statements, ensuring that future securities-related disclosures reflect this change in the APL-122 collaboration structure.
FAQ
What agreement did Apollomics (APLM) terminate with Edison Oncology?
Apollomics terminated its Development and License Agreement with Edison Oncology Holding Corporation covering the development and commercialization of APL-122.
Why did Apollomics (APLM) end its APL-122 collaboration with Edison?
The company states it terminated the agreement because Edison failed to fulfill certain material performance and reporting obligations required under the agreement.
What is APL-122 in the Apollomics (APLM) pipeline?
APL-122 is described as an oral, irreversible pan-ErbB inhibitor targeting EGFR (ErbB1), HER2 (ErbB2), and HER4 (ErbB4) kinases, designed with superior blood-brain barrier penetration to treat ErbB-positive cancers, especially patients with CNS metastases.
Does Apollomics (APLM) expect a financial impact from ending the Edison agreement?
Apollomics states that it does not expect this termination to have a material adverse effect on its overall financial condition or results of operations.
What is the status of payment obligations between Apollomics (APLM) and Edison?
The company disputes any outstanding payment obligations claimed by Edison and intends to vigorously defend its position while reserving all rights and remedies under the agreement and applicable law.
How is the termination of the Edison agreement reflected in Apollomics (APLM) securities registrations?
Information about the termination is incorporated by reference into Apollomics’ registration statements under the Securities Act, including its Form S-8 (File No. 333-272559) and Form F-3 (File Nos. 333-278430, 333-278431 and 333-279549).