SOUTH SAN FRANCISCO, Calif., May 12, 2023 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (Nasdaq: ALGS, “Aligos”, the “Company”), a clinical stage biopharmaceutical company focused on developing novel therapeutics to address unmet medical needs in liver and viral diseases, today announced that it has entered into a research collaboration and development agreement with Xiamen Amoytop Biotech Co. Ltd. (“Amoytop”) for the use of Aligos’ oligonucleotide platform to discover, research and develop oligonucleotides for the treatment of liver diseases in the Greater China territory.

Under the terms of the agreement, Aligos and Amoytop will collaborate on the research and development of oligonucleotide compounds for the treatment of liver diseases. Amoytop will receive an option to obtain an exclusive license to develop and commercialize the resultant products in the Greater China territory while Aligos will retain rest-of-world rights. Aligos will also receive an upfront payment and research collaboration funding and be eligible to receive up to a total of $109 million in development and sales milestone payments for licensed products as well as tiered royalties on net sales. 

“We are pleased to begin our collaboration with Amoytop, a leading Chinese domestic pharmaceutical company developing innovative therapies for liver diseases,” said Lawrence Blatt, Ph.D., MBA, Chairman & CEO of Aligos. “Our team has remained committed to developing drug candidates with the potential to improve the lives of patients living with viral and liver diseases, and we believe this research collaboration will help us to move closer to achieving that goal.”

Sun Li, Chairman & CEO at Amoytop added, “We believe Aligos’ oligonucleotide platform has the potential to help our teams discover and develop novel candidates for liver diseases in China. We look forward to working together to advance new treatment options for patients in need.”

About Aligos
Aligos Therapeutics, Inc. is a clinical stage biopharmaceutical company that was founded in 2018 with the mission to become a world leader in the treatment of liver diseases and viral infections. Aligos’ strategy is to harness the deep expertise and decades of drug development experience its team has in liver and viral diseases to discover and develop potentially best in class therapeutics for nonalcoholic steatohepatitis (NASH) and viruses with high unmet medical need such as coronaviruses and chronic hepatitis B (CHB).

Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements”, including without limitation, statements around the possibility of receiving up to a total of $109 million in development and sales milestone payments for licensed products as well as tiered royalties on net sales, Aligos’ belief that the research collaboration will help the Aligos team move closer to achieving the goal of developing drug candidates with the potential to improve lives of patients living with viral and liver diseases and the belief that Aligos’ oligonucleotide platform has the potential to help discover and develop novel candidates for liver diseases in China. Forward-looking statements are typically, but not always, identified by the use of words such as “may,” “will,” “would,” “believe,” “intend,” “plan,” “anticipate,” “estimate,” “expect,” and other similar terminology indicating future results. Such forward looking statements are subject to substantial risks and uncertainties that could cause our development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties inherent in the drug development process, including Aligos’ clinical-stage of development, the process of designing and conducting clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Aligos’ ability to successfully establish, protect and defend its intellectual property, and other matters that could affect the sufficiency of Aligos’ capital resources to fund operations. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Aligos in general, see Aligos’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 4, 2023 and its future periodic reports to be filed with or submitted to the Securities and Exchange Commission. Except as required by law, Aligos undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.

Media Contact
Amy Jobe, Ph.D.
LifeSci Communications
+1 315 879 8192
ajobe@lifescicomms.com

Investor Contact
Corey Davis, Ph.D.
LifeSci Advisors
+1 212 915 2577
cdavis@lifesciadvisors.com

Source:- Globenewswire