24/7 Market News- Achilles Therapeutics Discontinues TIL-based cNeT Therapy Development to Focus on Third Party Target

September 19, 2024

DENVER, Colo., Sep 19, 2024 (247marketnews.com)- Achilles Therapeutics (NASDAQ: ACHL) stated that it discontinued its TIL-based cNeT program and closure of the Phase I/IIa CHIRON and THETIS clinical trials, so it can focus on exploring opportunities to engage with third parties that are developing alternative modalities to target clonal neoantigens for the treatment of cancers, including neoantigen vaccines, ADCs, and TCR-T therapies.

Dr Iraj Ali, CEO of Achilles Therapeutics, commented, “Our data continue to illustrate the importance of clonal neoantigens as targets and show some clinical activity, however our studies in lung cancer and melanoma have not met our goals for commercial viability. We are grateful for the support and commitment of our patients, investigators, employees and shareholders throughout this journey.

“We are actively exploring new opportunities to leverage our substantial assets and cutting-edge technology platforms. Our goal remains to drive the development of effective treatments for patients and create long-term value for our shareholders.”

Achilles Therapeutics had $95.1 million in cash and cash equivalents, as of June 30, 2024, and plans on implementing cost-cutting measures including reduction in workforce.

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