Biotech company Alligator Bioscience has appointed current CFO Johan Giléus as its new CEO, effective Jan. 1, 2027. This was disclosed in a press release.
Giléus will succeed Sören Bregenholt and will also remain CFO. The appointment follows the company's strategic refocusing on its financial interest in the HER2-targeted antibody HLX22. Following the CEO change, Alligator will operate with a minimal organization, supported by the board and external consultants.
Alligator's stock plunged more than 70% on July 23 after the company announced that it was discontinuing development of the drug candidate mitazalimab.
"Sören has led Alligator with energy, integrity and perseverance, as he and his team have worked tirelessly during a challenging period for the biotech industry. Although the outcome for mitazalimab did not meet our expectations, Sören guided Alligator through its strategic refocusing with professionalism and care, and we are very grateful for all that he has contributed," says Hans-Peter Ostler, chairman of Alligator's board.
Alligator's stock has lost nearly 98% of its value over the past year.
Alligator Bioscience AB is a Sweden-based biotechnology Company that develops antibody-based drugs for cancer treatment. The Company specializes in the development of tumor-targeted immunotherapies, in particular agonist mono- and bispecific antibodies, and is active in the early stages of drug development, from concept to phase II clinical trials. Alligator’s pipeline includes the two key assets mitazalimab, a CD40 agonist, and ATOR-1017, a 4-1BB agonist. Furthermore, Alligator is co-developing ALG.APV-527 with Aptevo Therapeutics Inc., several undisclosed molecules based on its technology platform, Neo-X-Prime, with MacroGenics Inc. and drug candidates based on the RUBY bispecific platform with Orion Corporation. Its licensed programs include AC101, in phase II development, by Shanghai Henlius Biotech Inc. and an undisclosed target to Biotheus Inc. The Company operates domestically.
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