Mateon Therapeutics and Oncotelic companies to merge.

Mateon Therapeutics, Inc. and Oncotelic Inc., a privately-held, late clinical-stage cancer immunotherapy company, announced that they have entered into a definitive agreement with respect to a merger, creating a publicly traded immuno-oncology company with a robust pipeline of first in class TGF-beta immunotherapies for late stage cancers such as gliomas, pancreatic cancer and melanoma. Oncotelic is developing OT-101 in combination with chemotherapy for the treatment of gliomas and pancreatic cancers. Oncotelic plans to initiate several Phase III registration trials for OT 101 in multiple cancer indications, including gliomas and pancreatic cancers. During phase II clinical trials in gliomas (Study G004) and pancreatic cancer, melanoma, and colorectal cancers (Study P001), meaningful clinical benefits were observed with favorable safety profiles. These clinical benefits included long term survival as well as tumor reduction. These findings have been presented at recent scientific conferences.