NEW YORK, Oct. 12, 2018 (GLOBE NEWSWIRE) -- Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) therapies for cancer, rang the opening bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Allogene, with headquarters in South San Francisco, is led by a world-class management team with significant experience in cell therapy. Allogene is developing a pipeline of “off-the-shelf” CAR T cell therapy candidates with the goal of delivering readily available cell therapy faster, more reliably, at greater scale, and to more patients.
AlloCAR T™ cell therapies are engineered from cells of healthy donors, which is intended to allow for creation of inventory for on demand use in patients. This approach is designed to eliminate the need to create personalized therapy from a patient’s own cells, simplify manufacturing, and reduce the time patients must wait for CAR T cell treatment. The Allogene portfolio includes rights to 16 pre-clinical CAR T cell therapy targets and UCART19, an AlloCAR T™ therapy candidate currently in Phase 1 development for the treatment of relapsed/refractory acute lymphoblastic leukemia.
“We are very proud of what we have accomplished as a company in a short time and are thrilled to now be listed on Nasdaq,” said David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene. “This milestone is important as we focus on our goal to be the first company to develop and commercialize an allogeneic CAR T product and make potentially lifesaving cell therapies more readily accessible to patients.”
“Allogene’s advanced allogeneic platform has the potential to be the next revolution in cancer treatment,” said Nelson Griggs, President of the Nasdaq Stock Exchange. “Nasdaq is honored to support and welcome Allogene in their mission to solve one of our world’s most debilitating diseases.”
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dba0901f-ac8f-472a-a10d-afaa9be09611