Acrivon Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
21 Novembre 2023 - 2:00PM
Acrivon Therapeutics, Inc. (“Acrivon” or “Acrivon Therapeutics”)
(Nasdaq: ACRV), a clinical stage biopharmaceutical company
developing precision oncology medicines that it matches to patients
whose tumors are predicted to be sensitive to each specific
medicine by utilizing its proprietary proteomics-based patient
responder identification platform, Acrivon Predictive Precision
Proteomics or AP3, announced that the company approved a grant of
equity award under its 2023 Inducement Plan to one employee. The
equity award was granted in the form of stock options and has a
grant date of November 17, 2023.
The employee received options to purchase 57,900
shares of Acrivon common stock. The stock options will vest 25% on
the first anniversary of the first day of the month following the
effective date of such employee’s employment and the remaining
options shall vest over a three-year period, on a monthly basis, a
rate of 2.083%, subject to continued employment on each vesting
date.
The inducement grant was approved by Acrivon’s
board of directors, as required by Nasdaq Rule 5635(c)(4), and was
granted as a material inducement to employment in accordance with
Nasdaq Rule 5635(c)(4).
About Acrivon Therapeutics
Acrivon is a clinical stage biopharmaceutical
company developing precision oncology medicines that it matches to
patients whose tumors are predicted to be sensitive to each
specific medicine by utilizing Acrivon’s proprietary
proteomics-based patient responder identification platform, Acrivon
Predictive Precision Proteomics, or AP3. The AP3 platform is
engineered to measure compound-specific effects on the entire tumor
cell protein signaling network and drug-induced resistance
mechanisms in an unbiased manner. These distinctive capabilities
enable AP3’s direct application for drug design optimization for
monotherapy activity, the identification of rational drug
combinations, and the creation of drug-specific proprietary
OncoSignature companion diagnostics that are used to identify the
patients most likely to benefit from Acrivon’s drug candidates.
Acrivon is currently advancing its lead candidate, ACR-368, a
selective small molecule inhibitor targeting CHK1 and CHK2 in a
potentially registrational Phase 2 trial across multiple tumor
types. The company has received Fast Track designation from the
Food and Drug Administration, or FDA, for the investigation of
ACR-368 as monotherapy based on OncoSignature-predicted sensitivity
in patients with platinum-resistant ovarian or endometrial cancer.
Acrivon’s ACR-368 OncoSignature test, which has not yet obtained
regulatory approval, has been extensively evaluated in preclinical
studies, including in two separate, blinded, prospectively-designed
studies on pretreatment tumor biopsies collected from past
third-party Phase 2 trials in patients with ovarian cancer treated
with ACR-368. In addition to ACR-368, Acrivon is also leveraging
its proprietary AP3 precision medicine platform for developing its
internally-discovered preclinical stage pipeline programs,
consisting of its development candidate, ACR-2316, a selective,
dual WEE1/PKMYT1 inhibitor, and additional programs targeting these
two critical nodes in the DNA Damage Response, or DDR,
pathways.
Forward-Looking Statements
This press release includes certain disclosures
that contain “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995 about us and our
industry that involve substantial risks and uncertainties. All
statements other than statements of historical facts contained in
this press release, including statements regarding our future
results of operations or financial condition, business strategy and
plans and objectives of management for future operations, are
forward-looking statements. In some cases, you can identify
forward-looking statements because they contain words such as
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “will,” or “would” or the
negative of these words or other similar terms or expressions.
Forward-looking statements are based on Acrivon’s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Factors that could cause
actual results to differ include, but are not limited to, risks and
uncertainties that are described more fully in the section titled
“Risk Factors” in our reports filed with the Securities and
Exchange Commission. Forward-looking statements contained in this
press release are made as of this date, and Acrivon undertakes no
duty to update such information except as required under applicable
law.
Investor and Media Contacts: Adam D. Levy,
Ph.D., M.B.A.alevy@acrivon.com
Alexandra Santos asantos@wheelhouselsa.com
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