Davis Polk advised the placement agent in connection with Ayala Pharmaceuticals, Inc.’s $25 million private placement of common stock and warrants to purchase common stock.
Ayala Pharmaceuticals, Inc. is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers. Ayala’s approach is focused on predicating, identifying and addressing tumorigenic drivers of cancer through a combination of its bioinformatics platform and next-generation sequencing to deliver targeted therapies to underserved patient populations. The company has two product candidates under development targeting the aberrant activation of the Notch pathway with gamma secretase inhibitors to treat a variety of tumors including adenoid cystic carcinoma, triple negative breast cancer, T-cell acute lymphoblastic leukemia, desmoid tumors and multiple myeloma.
The Davis Polk capital markets team included partner Yasin Keshvargar and associate David Li. All members of the Davis Polk team are based in the New York office.