Biotechnology company Alligator Bioscience (STO:ATORX) said on Thursday that it has decided to focus its resources on two proprietary candidate drugs, ATOR-1017 and mitazalimab.

Positive safety and strong Proof of Mechanism data support moving both of these potential new cancer treatments into clinical efficacy (Phase Ib/II) studies in 2021, the company said.

According to Alligator Bioscience CEO Per Norlén, ATOR-1017 and mitazalimab both have potential in "large cancer indications with high medical need and billion-dollar markets".

Alligator will complete the ongoing dose-escalation study with the bispecific ATOR-1015 as planned during the fourth quarter of 2020, after which it will be partnered for further development.