Celanese Announces Collaboration with Alessa Therapeutics for the Advancement of Oncology Treatments

Rhea-AI Summary

Celanese Corporation (NYSE: CE) has announced a collaboration with Alessa Therapeutics to develop a new oncology drug using Alessa's sustained localized drug delivery technology. The partnership aims to enhance treatment for oncology patients by reducing systemic side effects.

According to Alessa's Vice President, the collaboration has facilitated the rapid development of their drug candidate, with plans to advance to human studies later this year. Celanese emphasized its commitment to improving therapeutic outcomes through innovative drug delivery solutions.

Positive

• Collaboration may enhance oncology treatment outcomes.
• Plans to initiate human studies later this year.
• Celanese's VitalDose EVA platform leverages innovative drug delivery technology.

Negative

• None.

VitalDose^® EVA drug delivery platform to be used in the development of Alessa Therapeutics’ proprietary localized drug delivery technology.

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, and Alessa Therapeutics announced their collaboration for developing a new oncology drug product leveraging Alessa’s expertise on sustained localized drug delivery and the Celanese VitalDose^® EVA drug delivery platform. The collaboration will focus on developing a localized and sustained-release drug delivery system for oncology patients that will limit systemic side effects and improve overall treatment.

“The commercial flexibility, responsiveness and technical support provided by Celanese has enabled the rapid progression of our drug candidate,” says Maithili Rairkar, Vice President of Technical Operations at Alessa Therapeutics. “We look forward to progressing this innovative local drug delivery approach beginning with human studies later this year.”

“Our new collaboration with Alessa Therapeutics underscores our commitment to optimize therapeutics through drug delivery innovation for oncology patients,” said Karen Chen, Global Business Strategy Leader for Oncology at Celanese. “Delivery can be a fundamental, and oftentimes overlooked, part of a drug’s success, and we believe that our contribution to Alessa’s work can make a meaningful difference in the lives of cancer patients.”

About Alessa Therapeutics

Founded in 2018 and based on technology developed by Dr. Pamela Munster’s group at UCSF, Alessa Therapeutics is a privately held company focused on developing selective and sustained localized drug delivery for early interception of cancer and other diseases. Alessa is backed by Mission BioCapital (www.missionbiocapital.com). For more information on Alessa Therapeutics, visit www.alessatherapeutics.com or email alessa@alessatherapeutics.com.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 13,000 employees worldwide and had 2022 net sales of $9.7 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005507/en/

Celanese Contacts



Investor Relations

Brandon Ayache

+1 972 443 8509

brandon.ayache@celanese.com



Media Relations – Global

Brian Bianco

+1 972 443 4400

media@celanese.com



Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

petra.czugler@celanese.com



Alessa Contact:

Zach Collins

zach.collins@alessatherapeutics.com

Source: Celanese Corporation

FAQ

What is the collaboration between Celanese and Alessa Therapeutics about?

Celanese and Alessa Therapeutics are collaborating to develop a new oncology drug product using Alessa's localized drug delivery technology.

When will human studies for the new oncology drug begin?

Human studies for the new oncology drug are planned to begin later this year.

What is the significance of the VitalDose EVA platform in this collaboration?

The VitalDose EVA platform is key to developing a sustained-release drug delivery system aimed at improving cancer treatment outcomes.

How does this collaboration affect Celanese's stock performance?

The collaboration can potentially enhance Celanese's market position in the oncology sector, positively impacting investor sentiment.