FX.co ★ Achilles Therapeutics Discontinues TIL-based CNeT Program

Achilles Therapeutics plc (ACHL) announced on Thursday the discontinuation of its TIL-based clonal neoantigen T-cell (cNeT) program and the closure of the Phase I/IIa CHIRON and THETIS clinical trials.

The company will shift its strategic focus towards collaborating with third parties developing alternative approaches to target clonal neoantigens in cancer treatment, such as neoantigen vaccines, antibody-drug conjugates (ADCs), and T-cell receptor-engineered therapies (TCR-T).

Simultaneously, Achilles Therapeutics has engaged BofA Securities as a financial advisor to explore and assess strategies for maximizing value.

"Our data continue to underscore the significance of clonal neoantigens as targets and demonstrate some clinical activity. However, our studies in lung cancer and melanoma have not achieved our commercial viability objectives. We are thankful for the support and dedication of our patients, investigators, employees, and shareholders throughout this journey," stated Dr. Iraj Ali, Chief Executive Officer of Achilles Therapeutics. "We are actively exploring new opportunities to capitalize on our substantial assets and advanced technology platforms. Our aim remains to develop effective treatments for patients and create long-term value for our shareholders."

As of June 30, 2024, Achilles Therapeutics reported $95.1 million in cash and cash equivalents.