OCALA, Fla., Oct. 17, 2023 (GLOBE NEWSWIRE) -- AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM”) today announced it has entered into an agreement with Azenova, LLC (“Azenova”), a professional business development (BD) consulting firm, to support efforts to partner AIM’s pipeline programs with a particular focus on the company’s lead asset, Ampligen®, for the treatment of various malignant solid tumors.

Azenova has been engaged to assist AIM with its BD efforts with the goal of entering into a partnership, out-license or other transaction whereby a biopharmaceutical company takes on the further development and commercialization of Ampligen® with the goal of maximizing value to AIM. This process may not result in any transaction and the company does not intend to disclose additional details unless and until it has entered into a definitive agreement.

“With our growing body of compelling clinical data, we believe Ampligen® has significant potential to provide a therapeutic solution for a wide range of cancers, immune disorders and viral diseases. We believe the timing of our engagement with Azenova perfectly aligns their BD expertise with our strategic vision to maximize the opportunities for our Ampligen® pipeline programs and to unlock significant value in the asset,” commented AIM Chief Executive Officer Thomas K. Equels.

Azenova provides a wide range of services to support clients in their partnership, licensing, and other transactional activities. This includes determining opportunities for partnership (assets and technologies), identification and assessment of potential partners and leading all steps involved in engaging partners and establishing definitive BD transaction agreements. Azenova’s principals, Jeff Southerton, PhD, MBA, and Stacy Evans, MD, MBA, have more than 50 years of combined BD experience in the biopharmaceutical industry leading transactions across a wide range of deal structures in multiple therapeutic areas, including significant experience in oncology.

“With AIM’s emerging data showing the promise of Ampligen® as a therapeutic across a pipeline of malignant and often end-stage solid tumors, Azenova is excited to be formally engaged by AIM to assist the company with materializing a potential value inflecting BD transaction for the company,” commented founder of Azenova, Jeff Southerton.

About AIM ImmunoTech Inc.

AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders and viral diseases, including COVID-19. The Company’s lead product is a first-in-class investigational drug called Ampligen® (rintatolimod), a dsRNA and highly selective TLR3 agonist immuno-modulator with broad spectrum activity in clinical trials for globally important cancers, viral diseases and disorders of the immune system.

For more information, please visit aimimmuno.com and connect with the Company on Twitter, LinkedIn, and Facebook.

Cautionary Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Words such as “may,” “will,” “expect,” “plan,” “anticipate” and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. Many of these forward-looking statements involve a number of risks and uncertainties. Among other things, for those statements, the Company claims the protection of safe harbor for forward-looking statements contained in the PSLRA. No assurance can be given that the agreement with Azenova will result in a partnership, out-license or other transaction whereby a biopharmaceutical company takes on the further development and commercialization of Ampligen. The company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.