Acrivon Therapeutics, a clinical-stage precision medicine company (Nasdaq: ACRV), announced the grant of equity awards to certain employees under its 2023 Inducement Plan. The awards, consisting of stock options, were approved by the company's Board of Directors on October 15, 2024, in accordance with Nasdaq Rule 5635(c)(4).
The employees received options to purchase an aggregate of 61,950 shares of Acrivon common stock. The stock options will vest 25% on the first anniversary of the first day of the month following the effective date of each employee’s employment and in additional 2.083% installments on a monthly basis thereafter, contingent upon continued employment.
Acrivon's Precision Medicine Approach
Acrivon Therapeutics utilizes its Acrivon Predictive Precision Proteomics (AP3) platform to develop precision oncology medicines. The AP3 platform is designed to identify patients whose tumors are predicted to be sensitive to specific treatments. This platform measures compound-specific effects on the tumor cell protein signaling network and drug-induced resistance mechanisms.
Advancing Clinical Programs
Acrivon is currently advancing its lead candidate, ACR-368 (prexasertib), a selective small molecule inhibitor targeting CHK1 and CHK2, in a potentially registrational Phase 2 trial across multiple tumor types. The FDA has granted Fast Track designation for ACR-368 as monotherapy based on OncoSignature-predicted sensitivity in patients with platinum-resistant ovarian or endometrial cancer. The ACR-368 OncoSignature test has received Breakthrough Device designation from the FDA for identifying ovarian cancer patients who may benefit from ACR-368 treatment.
In September 2024, Acrivon reported additional positive clinical data for endometrial cancer, including a confirmed overall response rate of 62.5% (95% C.I. 30.4% - 86.5%) and further validation of its prospective OncoSignature selection of patients predicted sensitive to ACR-368 by showing segregation of responders in OncoSignature-positive versus OncoSignature-negative patients (p = 0.009). The median duration of treatment was not yet reached, but the duration on study was 6 months at the time of the data cut.
Expanding Pipeline
In addition to ACR-368, Acrivon is leveraging its AP3 platform to develop other pipeline programs, including ACR-2316, a potent, selective WEE1/PKMYT1 inhibitor designed for superior single-agent activity. The company is also progressing internally-developed preclinical programs, including a cell cycle program with an undisclosed target. Acrivon has developed AP3 Interactome, a proprietary, computational analytics platform driven by machine learning for integrated comprehensive analyses across all large, in-house AP3 phosphoproteomic drug profiling data sets to advance its in-house research programs.
