Ayala Pharmaceuticals to merge with Advaxis.

Ayala Pharmaceuticals, a clinical-stage oncology company, agreed to merge with Advaxis, a biotechnology company. Ayala stockholders will own approximately 62.5% of the combined company’s outstanding common stock and Advaxis stockholders will own approximately 37.5%. Financial terms were not disclosed. “We are pleased to announce the proposed merger with Advaxis, which is expected to provide our pipeline and AL102 with additional financial resources as well as additional infrastructure in the US The two companies have a shared mission to develop innovative therapies to improve the lives of patients with cancer and I believe we have found a good partner to advance our pipeline and create value for our stakeholders," Roni Mamluk, Ayala President and CEO.