Apollomics announces changes in executive leadership team

Apollomics announced an updated strategic focus for the clinical development of vebreltinib by focusing on NSCLC patients with Met Amplification, as well as changes to its executive leadership team. “We believe that the target selectivity and efficacy of vebreltinib against multiple tumor types demonstrates its high potential to treat a range of MET-altered tumors,” said Guo-Liang Yu,CEO. “By focusing on the patient population with the greatest unmet medical need that can be addressed by MET inhibition, we will be applying our resources in the most efficient manner as we generate additional clinical data for support of regulatory submissions. Accordingly, our SPARTA Phase 2 clinical trial will continue to enroll NSCLC patients with Met amplification. We will continue to follow the currently enrolled patients in the ongoing SPARTA study with solid tumors with MET alterations, which include those with Met Exon 14 skipping mutations and those treated with combination therapy with EGFR inhibitors, to support vebreltinib safety and efficacy across multiple indications. We look forward to providing data updates in 2024 and in 2025.” As a result of the updated strategic focus, and aligned with the Company’s resource needs going forward, Sanjeev Redkar, Company co-founder and President, and Peony Yu, Chief Medical Officer, are expected to transition to consulting roles in August. Apollomics expects to achieve significant reductions in ongoing operating expenses due to the focus on enrolling new patients with Met Amplification in the SPARTA study and other cost reductions in the SPARTA operations, completion of the uproleselan Phase 3 bridging study in China, and the departure of the two executive officers as well as other employees. ” As a result of the focus on Met Amplification and the cost reduction measures, as offset by severance and certain wind-down expenses, Apollomics now expects that its current capital resources will fund planned operations into the Q3 of 2025. In addition, after payment of these severance and wind-down expenses, the Company believes that its ongoing operational expenses will be reduced by over 50%.