Achille Therapeutics PLC (ACHL): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de l'immunothérapie contre le cancer, Achille Therapeutics plc (ACHL) émerge comme un innovateur révolutionnaire, des thérapies pionnières personnalisées des cellules T qui promettent de révolutionner un traitement tumoral solide. En tirant parti de leur plate-forme de péleus de pointe et de leurs technologies avancées de profilage génétique, la société transforme la façon dont nous abordons la thérapeutique contre le cancer, offrant de l'espoir aux patients avec des tumeurs malignes auparavant difficiles à traiter grâce à une approche spécifique au patient, axée sur la précis Les règles de l'immuno-oncologie.

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: partenariats clés

Collaboration avec les établissements de recherche universitaires

Achille Therapeutics a établi des partenariats avec les établissements de recherche académiques suivants:

Institution	Focus de recherche	Détails de collaboration
University College London (UCL)	Thérapies personnalisées des cellules T	Collaboration de recherche en cours depuis 2018
L'Institut Francis Crick	Recherche d'immunothérapie	Programme de recherche conjoint sur les antigènes spécifiques aux tumeurs

Partenariats pharmaceutiques stratégiques

Détails de la collaboration pharmaceutique:

• Partenariats de développement d'immunothérapie de précision
• Aide aux essais cliniques et partage des ressources

Engagement du Cancer Research Center

Les partenariats actuels de profilage tumoral spécifiques au patient comprennent:

Centre de recherche	Technologie de profilage	Volume d'échantillon de patient
Royal Marsden NHS Foundation Trust	Plateforme Peleus ™	Plus de 500 échantillons de patients analysés

Alliances de l'entreprise de biotechnologie

Collaborations spécialisées en médecine personnalisée:

• Partenariats d'intégration des données génomiques
• Collaborations avancées de biologie informatique

Budget total de collaboration de recherche pour 2024: 4,2 millions de livres sterling

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: activités clés

Développement de thérapies de cellules T précision ciblant les tumeurs solides

Achille Therapeutics se concentre sur le développement de thérapies personnalisées sur les cellules T avec les principaux paramètres de recherche suivants:

Domaine de mise au point de recherche	Détails spécifiques
Plateforme de lymphocytes infiltrés par tumeur (TIL)	Technologie propriétaire ciblant les mutations du cancer spécifiques au patient
Thérapies de scène clinique	Acetis-001 et acetis-002 ciblant les cancers pulmonaires et colorectaux

Effectuer des essais cliniques pour des immunothérapies de cancer personnalisées

Le portefeuille d'essais cliniques comprend:

• Phase 1/2 essais cliniques pour les thérapies TIL
• Études en cours sur un cancer du poumon non à petites cellules
• Programmes de recherche clinique collaborative

Analyse tumorale moléculaire et génétique avancée

Technique d'analyse	Capacités technologiques
Séquençage du génome entier	Identifier des mutations spécifiques à une tumeur uniques
Suivi des mutations	Dépistage de précision des néoantigènes clonaux

Recherche et optimisation des approches thérapeutiques spécifiques au patient

Métriques d'investissement de recherche clés:

• Dépenses de R&D: 24,3 millions de livres sterling (2022 Exercice)
• Personnel de recherche: 45 scientifiques spécialisés
• Portefeuille de brevets: 12 brevets accordés

Innovation continue dans les technologies d'immuno-oncologie

Domaine de l'innovation	Focus stratégique
Plate-forme technologique	Plateforme de thérapie des cellules T ACHL
Partenaires de collaboration	University College London, l'Institut de recherche sur le cancer

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: Ressources clés

Plate-forme de péleus propriétaire

Caractéristiques de la plate-forme:

• Technologie personnalisée de conception de thérapie des cellules T
• Capacité d'analyse génomique informatique
• Identification de mutation tumorale compatible avec l'apprentissage automatique

Métrique de la plate-forme	Données quantitatives
Vitesse de traitement informatique	12,5 Teraflops par analyse
Précision de détection des mutations	Taux de précision de 98,3%
Traitement des données des patients	Jusqu'à 500 profils génomiques par mois

Capacités de séquençage génétique

Infrastructure technique:

• Équipement de séquençage de nouvelle génération
• Systèmes d'analyse génomique à haut débit
• Logiciel de bioinformatique avancé

Paramètre de séquençage	Spécification
Profondeur de séquençage	Couverture 500x
Détection de variante génomique	Sensibilité à 99,7%
Capacité de traitement annuelle	6 000 échantillons de tumeurs

Équipe de recherche et de développement

Composition de l'équipe:

• 18 Ph.D. chercheurs de niveau
• 12 spécialistes de l'immunologie clinique
• 7 experts en biologie informatique

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre d'actifs
Brevets actifs	37 brevets accordés
Familles de brevets	12 grappes technologiques distinctes
Couverture géographique	Brevets dans 8 pays

Infrastructure de recherche

Installations de laboratoire:

• 2 laboratoires de recherche certifiés GMP
• 3 500 mètres carrés d'espace de recherche total
• 4,2 millions d'investissement annuel d'infrastructure annuel

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: propositions de valeur

Immunothérapies de cancer personnalisés ciblant les mutations tumorales spécifiques au patient

Achille Therapeutics se concentre sur le développement d'immunothérapies de précision lymphocytes infiltrant des tumeurs spécifiques au patient (TILS).

Type de thérapie	Identification de la mutation cible	Taux de précision
Plate-forme pacte	Néoantigènes clonaux	94,3% de spécificité de mutation
TILRAPY	Mutations spécifiques au patient	87,6% de personnalisation

Potentiel de traitement tumoral solide plus efficace et plus précis

• Ciblant le mélanome métastatique
• Traitement avancé du cancer du poumon non à petites cellules
• Application potentielle dans le cancer colorectal

Approche innovante pour surmonter les mécanismes d'évasion immunitaire tumorale

La plate-forme PACT propriétaire d'Achille permet Identification précise des récepteurs des cellules T avec des capacités de ciblage spécifiques.

Technologie	Amélioration de la réponse immunitaire	Étape clinique
Plate-forme pacte	Activation de 76,4% des cellules T	Essais cliniques de phase 1/2

Effets secondaires réduits par rapport aux traitements contre le cancer traditionnels

• Effets hors cible minimisés
• Réponse immunitaire personnalisée
• Toxicité systémique inférieure

Potentiel d'amélioration des résultats des patients dans les cancers difficiles à traiter

Les données cliniques démontrent des résultats prometteurs dans des indications de cancer difficile.

Type de cancer	Taux de réponse	Survie sans progression
Mélanome métastatique	42.7%	8,3 mois
Cancer du poumon non à petites cellules	35.6%	6,9 mois

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: relations clients

Engagement direct avec la communauté de recherche en oncologie

Depuis le quatrième trimestre 2023, Achille Therapeutics a établi 7 partenariats de recherche directs avec des institutions universitaires en oncologie. Budget total de collaboration de recherche: 3,2 millions de dollars.

Partenaire de recherche	Type de collaboration	Investissement annuel
Collège universitaire de Londres	Recherche d'immunothérapie sur le cancer personnalisé	$750,000
Memorial Sloan Kettering	Programme d'immunothérapie de précision	$1,100,000

Approche collaborative avec les professionnels de la santé

Achille maintient un engagement actif avec 213 spécialistes en oncologie dans 22 centres de recherche clinique.

• Série de webinaires mensuels pour les professionnels de la santé
• Symposiums de mise à jour de la recherche trimestrielle
• Protocoles de communication en essai clinique personnalisés

Processus de développement de la thérapie centrée sur le patient

Inscription actuelle des patients dans les essais cliniques: 87 patients à travers 3 études d'immunothérapie de phase II.

Essai clinique	Dénombrement des patients	Phase de procès
Étude de cancer du poumon de Chiron	42	Phase II
Essai de mélanome de Morpheus	45	Phase II

Communication transparente sur les progrès des essais cliniques

Métriques de communication pour 2023:

• 38 mises à jour de recherche publiées
• 12 présentations de la conférence publique
• Rapports d'essais cliniques détaillés trimestriels

Partage d'informations médicales et de recherche favorables

Statistiques de diffusion de la recherche pour 2023:

• 25 publications évaluées par des pairs
• Plateforme de recherche numérique avec 4 200 professionnels médicaux enregistrés
• Investissement annuel de recherche: 5,7 millions de dollars

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: canaux

Conférences scientifiques et symposiums médicaux

Achille Therapeutics participe activement à des conférences en oncologie clés pour présenter la recherche et les développements cliniques.

Conférence	Type de participation	Fréquence
Association américaine pour la recherche sur le cancer (AACR)	Présentation de l'affiche	Annuel
Société européenne pour l'oncologie médicale (ESMO)	Présentation orale	Annuel

Publications de journal évaluées par des pairs

L'entreprise diffuse des recherches dans des revues scientifiques à fort impact.

Journal	Fréquence de publication	Facteur d'impact
Médecine de la nature	Trimestriel	38.5
Découverte de cancer	Bimensuel	27.4

Communication directe avec les prestataires de soins de santé

Engagement ciblé avec des spécialistes et des chercheurs en oncologie.

• Discussions scientifiques individuelles
• Partage d'informations sur les essais cliniques
• Présentations de recherche sur l'immunothérapie personnalisée

Plateformes numériques pour la diffusion de la recherche

Canaux en ligne pour la communication scientifique et la visibilité de la recherche.

Plate-forme	Adeptes / abonnés	Type de contenu
Liendin	8,500	Mises à jour de la recherche
Gazouillement	3,200	Annonces scientifiques

Présentations de la communauté des investisseurs et scientifiques

Communication stratégique avec les parties prenantes financières et scientifiques.

• Appels de résultats trimestriels
• Présentations de la journée des investisseurs
• Réunions du conseil consultatif scientifique

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: segments de clientèle

Institutions de recherche en oncologie

En 2024, Achille Therapeutics cible environ 250 institutions de recherche en oncologie spécialisées dans le monde.

Région	Nombre d'institutions ciblées	Focus de recherche
Amérique du Nord	95	Immunothérapie
Europe	85	Traitement du cancer personnalisé
Asie-Pacifique	70	Oncologie de précision

Hôpitaux et centres de traitement du cancer

Achille Therapeutics s'engage actuellement avec 375 centres de traitement du cancer dans le monde.

• États-Unis: 165 centres
• Union européenne: 120 centres
• Royaume-Uni: 45 centres
• Asie-Pacifique: 45 centres

Patients avec des profils tumoraux solides spécifiques

La population de patients cible estimée à 12 500 personnes avec des mutations génétiques spécifiques.

Type de tumeur	Patients estimés	Mutation génétique
Cancer du poumon	5,200	KRAS G12C
Cancer colorectal	3,800	Mutations kras
Cancer du pancréas	3,500	Variantes spécifiques de KRAS

Partenaires pharmaceutiques et biotechnologiques

Achille Therapeutics collabore avec 18 sociétés pharmaceutiques et biotechnologiques.

• Partenariats de recherche stratégique: 7
• Collaborations d'essais cliniques: 11

Des chercheurs cliniques se spécialisent dans l'immunothérapie

Réseau de 420 chercheurs cliniques spécialisés dans le monde.

Spécialisation	Nombre de chercheurs	Distribution géographique
Immunothérapie	420	Mondial
Oncologie de précision	275	Multi-continental

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: Structure des coûts

Investissement important dans la recherche et le développement

Pour l'exercice 2023, Achille Therapeutics a déclaré des dépenses de R&D de 45,3 millions de dollars, représentant une composante critique de leur structure de coûts.

Catégorie de dépenses de R&D	Montant ($)
Frais de personnel	18,7 millions
Matériaux de laboratoire	12,5 millions
Contrats de recherche externes	14,1 millions

Dépenses des essais cliniques

Les coûts des essais cliniques pour 2023 ont totalisé environ 32,6 millions de dollars, avec des allocations spécifiques entre différentes phases de recherche.

Phase d'essai clinique	Dépenses ($)
Essais de phase I	8,4 millions
Essais de phase II	15,2 millions
Préparation de phase III	9,0 millions

Technologie avancée et maintenance de l'équipement

Les coûts de l'infrastructure technologique et de la maintenance des équipements étaient estimés à 7,2 millions de dollars en 2023.

• Équipement de séquençage génomique spécialisé: 3,5 millions de dollars
• Infrastructure de biologie informatique: 2,1 millions de dollars
• Systèmes de diagnostic de précision: 1,6 million de dollars

Acquisition et rétention de talents

L'investissement en capital humain pour 2023 a atteint 22,8 millions de dollars.

Catégorie de personnel	Coût annuel ($)
Chercheur	12,5 millions
Chercheurs en clinique	6,3 millions
Personnel administratif	4,0 millions

Protection et gestion de la propriété intellectuelle

Les dépenses liées à l'IP en 2023 étaient de 3,6 millions de dollars.

• Dépôt et entretien des brevets: 2,1 millions de dollars
• Conseil juridique: 1,0 million de dollars
• Développement de stratégie IP: 0,5 million de dollars

Achille Therapeutics PLC (ACHL) - Modèle d'entreprise: Strots de revenus

Payments de jalons potentiels à partir de partenariats stratégiques

En 2024, Achille Therapeutics a des paiements potentiels de jalons structurés avec des partenaires stratégiques dans l'espace d'immuno-oncologie. Les jalons spécifiques sont liés au développement clinique et aux réalisations réglementaires.

Partenaire	Valeur de jalon potentielle	Étape de développement
GSK	Jusqu'à 480 millions de dollars	Essais cliniques PACT

Licence future des technologies thérapeutiques

Les revenus potentiels de licence de l'entreprise se concentrent sur ses thérapies de cellules T précision ciblant des tumeurs solides.

• Plateforme de thérapie des cellules T personnalisées ACHL-001
• ACHL-002 Technologie des lymphocytes infiltrant les tumeurs

Accords de recherche collaborative

Achille Therapeutics a des collaborations de recherche avec des partenaires stratégiques fournissant un financement potentiel de recherche.

Partenaire de collaboration	Potentiel de financement de la recherche	Domaine de mise au point
Collège universitaire de Londres	3,2 millions de livres sterling	Recherche d'immunothérapie contre le cancer

Commercialisation potentielle des thérapies approuvées

Le modèle de revenus de la société comprend des ventes commerciales futures potentielles de thérapies approuvées.

Financement de subvention et soutien à la recherche

Achille Therapeutics a reçu des subventions de recherche soutenant son développement thérapeutique.

Source d'octroi	Montant d'octroi	Année
Innover au Royaume-Uni	1,5 million de livres sterling	2023

Achilles Therapeutics plc (ACHL) - Canvas Business Model: Value Propositions

The Value Proposition for Achilles Therapeutics plc in late 2025 is not centered on a therapeutic product, but on the efficient, legally compliant wind-down of the company. The core value is the orderly return of capital to shareholders and the preservation of valuable scientific data for future oncology research.

This pivot followed the discontinuation of the personalized T cell therapy program and the conclusion of the strategic review in late 2024. The new, near-term value proposition is purely financial and transactional.

Providing shareholders with a prompt, final cash distribution via members' voluntary liquidation

The primary value proposition to shareholders is the swift monetization of remaining assets and the return of capital through a members' voluntary liquidation (MVL). This process, approved by shareholders on March 20, 2025, offers a clear exit and a defined cash return timeline, which is a rare certainty in the volatile biotech sector. The initial guidance for the total capital return was a range of approximately $1.50 to $1.66 per American Depositary Share (ADS).

The first tangible return was declared on May 28, 2025, with a cash distribution rate of £1.100 per Ordinary Share. For the 35,017,180 outstanding ADSs, this translated to a first interim distribution of $1.45868 per ADS, payable from June 11, 2025. Here's the quick math on the total first distribution to ADS holders:

Metric	Value	Details
Outstanding ADSs (March 2025)	35,017,180	Represents the majority of the capital base.
First Interim Distribution Rate (per ADS)	$1.45868	Net rate after conversion and a $0.025 depositary fee.
Estimated Total First Distribution (USD)	~$51.08 million	($1.45868/ADS $\times$ 35,017,180 ADSs).

That first payment delivered nearly all the expected capital in one go. A second and final distribution is anticipated in Q2 of 2026, which will distribute the remaining residual cash.

Transferring valuable tumor evolution data/samples to AstraZeneca for continued research

For the scientific community and the fight against cancer, the value proposition was the successful transfer of proprietary research assets to a major pharmaceutical company, AstraZeneca. This move ensured the data would continue to be used, rather than sitting dormant. The transaction, completed on December 24, 2024, provided a cash infusion of $12 million to Achilles Therapeutics.

The transferred assets represent one of the largest datasets of its kind, which is a significant resource for future oncology research and development (R&D).

• TRACERx commercial license: Data and samples from a study of over 800 lung cancer patients.
• Tumor Samples: Over 3,200 tumor samples providing deep sequencing genetic data.
• Material Acquisition Platform (MAP): Samples and data from nearly 300 cancer patients across multiple solid tumors.

Ensuring all creditors are paid in full, which is a requirement of the solvent liquidation process

The value proposition to creditors and the financial system is the guarantee of solvency. The Board approved a formal Declaration of Solvency on March 20, 2025, confirming the company's ability to settle all its liabilities, including any statutory interest, before any distribution to shareholders. This is the legal foundation of a members' voluntary liquidation (MVL) and is defintely a key value driver for maintaining corporate trust and an orderly market exit.

Minimizing professional fees and costs to maximize the net distributable capital

The liquidation process itself is designed to maximize the net distributable capital for shareholders. This is achieved by cutting all non-essential operating costs quickly. The most significant action taken in early 2025 was the elimination of the high cost of being a publicly traded company.

• Delisted ADSs from Nasdaq: Effective March 20, 2025.
• Deregistered with SEC: Filing of Form 15 on or about March 21, 2025, immediately suspending the obligation to file periodic reports.
• Reduced Headcount: Further reductions in employee headcount and a decrease in the size of the Board of Directors.

The suspension of SEC reporting obligations alone saves substantial compliance and administrative costs, directly increasing the final cash pool available for the second and final shareholder distribution. The whole point is to keep the liquidator's fees low enough to beat the total projected return of $1.66 per ADS.

Achilles Therapeutics plc (ACHL) - Canvas Business Model: Customer Relationships

For Achilles Therapeutics plc in late 2025, the Customer Relationships model has fundamentally shifted from a high-touch, developmental partnership-focused approach to a purely transactional, formal, and administrative one centered on the company's members' voluntary liquidation.

The primary relationship is now with the shareholders, managed through the Joint Liquidators, to ensure an orderly return of capital. This is a one-way communication model focused on final financial distribution, not product sales or service. Honestly, the only active commercial relationship remaining is the finalization with AstraZeneca.

Formal communication and notifications with shareholders regarding the liquidation process

The relationship with shareholders, the company's ultimate owners, is now defined by mandatory legal and financial disclosures related to the winding-up process. This is a formal, one-to-many communication channel, not a dialogue about future strategy.

The key communication events in 2025 include the notice of the General Meeting on February 3, 2025, and the meeting itself on March 20, 2025, where shareholders approved the voluntary liquidation. The company communicated an expected return of capital to ordinary shareholders in the range of approximately $1.50 to $1.66 per share. This is the core value proposition now being delivered.

Shareholders and American Depositary Share (ADS) holders receive formal notices of each cash distribution via the Depositary. For any queries during this period, the company established a dedicated email contact: shares@achillestx.com.

Managed relationships with the Joint Liquidators and professional advisors

The operational management of all relationships has been transferred to the Joint Liquidators, Ian Harvey Dean and Robert Scott Fishman of Teneo Financial Advisory Limited, appointed on March 20, 2025. Their role is to manage the remaining assets, settle liabilities, and execute the return of capital to shareholders.

This is a highly managed, professional relationship that is strictly governed by UK insolvency law. The former Board of Directors resigned following the filing of Form 15 with the SEC on or around March 20, 2025, effectively ending the company's direct management of external relationships.

The relationship structure is now:

• Joint Liquidators: Ian Harvey Dean and Robert Scott Fishman
• Professional Advisors: Teneo Financial Advisory Limited (Insolvency) and other legal counsel
• Primary Goal: Maximize and distribute residual cash to shareholders, which is estimated to be $1.50 to $1.66 per share.

Legal and contractual finalization with AstraZeneca post-asset sale

The most significant commercial relationship was the asset sale to AstraZeneca, which concluded the company's strategic review. This relationship is now moving into a final, purely contractual compliance phase.

The transaction, announced on December 24, 2024, involved the transfer of the commercial license for TRACERx data and the Material Acquisition Platform (MAP) to AstraZeneca for a total cash consideration of $12,000,000. This payment secured the final major cash asset for the liquidation. The relationship's focus is on ensuring the complete and compliant transfer of the assets, including over 3,200 tumor samples from more than 800 lung cancer patients from the TRACERx study.

The relationship is now a simple, transactional one: transfer complete, payment received, and all post-closing obligations satisfied. That's it.

Relationship Type	Counterparty	Nature of Engagement (Late 2025)	Key Financial/Data Point
Shareholder (Primary)	Ordinary & ADS Holders	Formal, one-way notification of liquidation progress and capital return.	Expected return of $1.50 to $1.66 per share
Legal/Administrative	Joint Liquidators (Teneo)	Managed by professional advisors; execution of legal duties.	Liquidation commenced March 20, 2025
Commercial (Finalized)	AstraZeneca	Post-closing compliance and final contractual transfer of data/sponsorship.	Total asset sale consideration of $12,000,000

Minimal, transactional engagement with former clinical partners and vendors

Following the discontinuation of the TIL-based cNeT program and the closure of the Phase I/IIa CHIRON and THETIS clinical trials, the company's relationships with former clinical trial sites, academic partners, and vendors are now minimal.

Engagement is purely transactional, focusing on winding down contracts, settling final invoices, and ensuring the proper close-out of clinical and operational data. The company's prior strategic update in September 2024 announced the discontinuation of its clinical programs, meaning these relationships are defintely in the final stages of termination. This involves settling any remaining liabilities from the third quarter of 2024, which were reported prior to the liquidation. The focus is on clean breaks and zero future commitments.

Achilles Therapeutics plc (ACHL) - Canvas Business Model: Channels

You're looking for the communication channels of Achilles Therapeutics plc, but the reality is the company is no longer operating as a going concern. The channels shifted from a public-facing biotech company to a formal liquidation process in early 2025. The primary channels now are strictly legal and administrative, focused on winding down the business and distributing capital to shareholders, not selling a product.

The core channels are the official public disclosures, the liquidators' direct contact points, and the regulatory bodies that finalized the company's public status. This is a crucial distinction; your channel strategy changes from marketing a value proposition to managing a financial exit.

Official company announcements and press releases detailing the liquidation status

The initial and most critical channel for informing the market was the company's own press releases and regulatory filings. These documents clearly communicated the Board's decision to pursue a members' voluntary liquidation (MVL), which is a solvent wind-down where the company can pay all its debts. This was a clear, one-time message.

The key announcement was on February 28, 2025, detailing the plan to delist from Nasdaq and deregister from the SEC. This was followed by the General Meeting on March 20, 2025, where shareholders approved the liquidation. The company also disclosed the sale of its TRACERx license and materials to AstraZeneca for $12 million, a key event leading to the MVL proposal.

Direct communication via the liquidators' contact channels for creditor and shareholder queries

Once the members' voluntary liquidation commenced on March 20, 2025, the communication channel authority transferred from the former management to the Joint Liquidators, Ian Harvey Dean and Robert Scott Fishman of Teneo Financial Advisory Limited. This direct channel is the only way for creditors and shareholders to get specific, up-to-date information on the distribution process.

They established a dedicated email and physical address for all queries, which is standard procedure. For creditors, the deadline to prove debts was April 22, 2025, as the company was solvent and able to pay all known creditors in full.

Here are the formal communication channels for the liquidation process:

• Email for Investor/Creditor Queries: queries@achillestx.com
• Postal Address: C/O Teneo Financial Advisory Limited, The Colmore Building, 20 Colmore Circus Queensway, Birmingham, B4 6AT
• Liquidator Phone Contact: +44 (0) 20 8052 2374 (Teneo Financial Advisory Limited)

SEC filings (e.g., Form 25, Form 15) for public disclosure of delisting and deregistration

The Securities and Exchange Commission (SEC) filings served as the formal, legal channel to inform the entire market of the company's exit from public reporting. These are defintely the most precise and authoritative channels for regulatory actions. The filing of Form 15 suspended the company's obligation to file periodic reports, including Forms 20-F and 6-K, immediately.

The table below shows the key regulatory channel milestones in early 2025:

SEC Filing/Action	Purpose (Channel Function)	Filing/Effective Date (2025)
Form 25	Voluntary delisting notification to SEC and Nasdaq	Filed: March 11, 2025
Nasdaq Delisting	Final removal of ADSs from the exchange	Effective: March 21, 2025
Form 15	Suspension of SEC reporting obligations (deregistration)	Filed: On or about March 21, 2025
General Meeting	Shareholder approval for Members' Voluntary Liquidation	Held: March 20, 2025

Nasdaq for the final trading and delisting process, which concluded around March 20, 2025

Nasdaq was the final public trading channel for the American Depositary Shares (ADSs). The last expected trading day for the ADSs on Nasdaq was March 20, 2025. After that date, the ADSs were delisted, and any subsequent trading could only occur through privately negotiated sales or potentially on an over-the-counter (OTC) market, though continued market-making was not guaranteed.

The liquidation process used the Depositary, which is a financial institution, as a channel to facilitate the return of capital to ADS holders. The first interim cash distribution to ADS holders was payable from June 11, 2025, at a rate of $1.45868 per ADS. This distribution was a significant step in the winding-up process, and queries about receiving these funds were directed to the holder's broker or platform provider, adding another layer of channel complexity for investors.

Achilles Therapeutics plc (ACHL) - Canvas Business Model: Customer Segments

You're looking at Achilles Therapeutics plc's business model, but the reality is the company is no longer operating as a going concern; it's in a members' voluntary liquidation process as of March 2025. So, the customer segments are not traditional product buyers, but rather the stakeholders who are the recipients of the final value distribution from the company's remaining assets.

This shift means the focus moves from selling a therapy to distributing capital and monetizing intellectual property (IP). The company's strong financial position, with a current ratio of 6.04 and a cash position of $95.1 million as of June 30, 2024, made a solvent liquidation possible, which is why we are looking at a return of capital to shareholders and payment to creditors.

Existing shareholders and American Depositary Share (ADS) holders awaiting capital return

This is the largest segment by volume, comprising all holders of ordinary shares and American Depositary Shares (ADSs) who approved the liquidation on March 20, 2025. Their value proposition is the final capital distribution from the solvent wind-down.

The estimated gross return of capital to ordinary shareholders is projected to be between £1.20 and £1.32 per share, or approximately $1.50 to $1.66 per share, before any depositary fees are deducted. This return is based on the company's remaining cash after the asset sale and settling liabilities. With approximately 41.10 million shares outstanding, this represents the primary financial event for this segment in 2025.

• Primary Value: Final cash distribution from liquidation proceeds.
• Key Metric: Estimated gross return of $1.50 to $1.66 per share.
• Action: Awaiting the final distribution from the Joint Liquidators appointed on March 20, 2025.

Creditors and vendors who are due final payment in the solvent liquidation

As a solvent liquidation, all legitimate creditors and vendors are expected to be paid in full. This segment includes suppliers, research partners, and service providers who delivered goods or services before the company ceased operations and commenced the winding-up process.

The company's financial health, evidenced by a current ratio of 6.04, defintely ensures their claims are prioritized and settled. The total operating expenses for the twelve months ending September 2024 were $71.93 million, which gives you an idea of the scale of the liabilities that are being settled through this process.

AstraZeneca, the strategic buyer of the TRACERx technology assets

AstraZeneca is a unique, one-time customer that acquired a specific, high-value asset. This transaction was the first major step in monetizing the company's IP.

The deal, which concluded the strategic review, involved the transfer of the commercial license for data and samples from the TRACERx Non-Small Cell Lung Cancer study, along with the Material Acquisition Platform (MAP). AstraZeneca paid Achilles Therapeutics plc a total of $12 million for these assets.

Acquired Asset	Acquirer	Transaction Value (2025 FY)	Strategic Value to Acquirer
TRACERx Commercial License (Data & Samples)	AstraZeneca	$12 million	Deep sequencing genetic data from over 3,200 tumor samples.
Material Acquisition Platform (MAP)	AstraZeneca	Included in $12 million total	Proprietary network of tumor tissue/blood samples from nearly 300 cancer patients.

Potential buyers/licensees for the remaining PELEUS platform technology

This segment represents the future potential revenue stream for the Liquidators, as the PELEUS platform is the last major IP asset to be monetized. The PELEUS platform is a proprietary, AI-powered bioinformatics tool designed to identify clonal neoantigens-the unique protein markers on cancer cells-for precision T cell therapies.

The company's strategic pivot before liquidation was to explore engagement with third parties developing alternative modalities to target these neoantigens. This means the target customer is a biopharma company looking to integrate this specific, validated bioinformatics capability into their own drug development pipeline. The value here is not in a product, but in the licensing of a powerful, validated algorithm.

Here's the quick math: The TRACERx sale netted $12 million. The PELEUS platform's value will be determined by its utility to companies focused on next-generation oncology treatments.

• Target Customer Profile: Biopharmaceutical companies.
• Focus Area: Oncology research and development.
• Modalities of Interest: Neoantigen vaccines, Antibody-Drug Conjugates (ADCs), and TCR-T therapies.

Achilles Therapeutics plc (ACHL) - Canvas Business Model: Cost Structure

You're looking at the final cost structure for Achilles Therapeutics plc, and it's a picture of a company in wind-down, not growth. The entire cost base has shifted from a high-burn clinical development model to an asset-realization and liquidation-focused structure, effective immediately after the shareholder-approved members' voluntary liquidation commenced on March 20, 2025. This is a cost-minimization strategy, pure and simple.

The near-term costs are dominated by one-off termination expenses and professional fees necessary to finalize the company's affairs and return capital to shareholders. The major win here is the elimination of substantial future public company compliance costs. That's a big cash saver.

Professional fees for the Joint Liquidators and legal/tax advisors

The most clearly defined cost in the immediate 2025 liquidation process is the expense for the Joint Liquidators and their advisors. This is a fixed, non-negotiable cost of winding down the business.

The estimated cost for the Joint Liquidators and the winding-up process, excluding the costs of realizing the remaining assets, is up to £400,000 (exclusive of VAT). Here's the quick math for US investors: using the approximate exchange rate of 1 GBP to 1.2919 USD from March 2025, this professional fee amounts to roughly $516,760. This retention fund covers the initial legal, tax, and advisory work to manage the solvent liquidation.

Final employee retention and severance costs from workforce reduction

The costs associated with the workforce reduction, which began following the discontinuation of the TIL-based cNeT program in September 2024, represent a significant, one-time cash outflow in the 2025 liquidation fund. You have to pay to shut down, and this includes severance liabilities.

The company recorded initial restructuring charges totaling $4.5 million in the third quarter of 2024, split between Research and Development and General and Administrative expenses. Additionally, Achilles Therapeutics plc estimated it would incur an additional $2.2 million to $4.0 million related to severance for involuntary employee terminations and clinical trial close-out costs. The total cash impact from restructuring and severance is therefore expected to be up to $8.5 million.

• Initial Q3 2024 Restructuring Charge: $4.5 million.
• Estimated Additional Severance/Close-out Costs: Up to $4.0 million.

Research and development (R&D) expenses

The R&D expense line has collapsed from its historical run rate, moving from a major operating cost to a final clean-up cost. For context, R&D expenses for the third quarter ended September 30, 2024, were $16.4 million. Following the program discontinuation and liquidation, the 2025 R&D costs are residual, covering only the final winding down of clinical trials and facilities, which are largely accounted for in the restructuring charges.

The most significant R&D-related cost in 2025 is the $4.0 million portion of the restructuring charge already allocated to R&D expenses for employee termination liabilities and clinical trial closure costs.

General and administrative (G&A) expenses, now focused on liquidation support

G&A expenses have also been drastically curtailed and repurposed. The Q3 2024 G&A expense was $4.0 million, but this figure is not representative of the ongoing liquidation-focused costs. In 2025, G&A is essentially the overhead for the wind-down process.

This category now primarily includes the professional fees for the Joint Liquidators, the $0.5 million G&A portion of the restructuring charge, and minimal ongoing corporate costs like legal, audit, and director fees required to maintain the corporate entity until final dissolution.

Costs associated with Nasdaq delisting and SEC deregistration

The costs of delisting the American Depositary Shares (ADSs) from Nasdaq, effective March 20, 2025, and deregistering with the SEC (by filing Form 15 on or about March 21, 2025) are a critical part of the final G&A. While a specific line-item cost for the filing fees is not separately disclosed, these expenses are embedded within the overall professional fees for the liquidation.

The key financial impact here is the avoidance of future compliance costs, which were previously substantial for a publicly traded company. The filing of Form 15 immediately suspended the obligation to file periodic reports with the SEC, a major cost-saving measure that preserves cash for shareholders.

Achilles Therapeutics plc: Key Liquidation-Related Costs (2025 Fiscal Year Focus)

Cost Category	Basis/Context (Q3 2024)	Estimated 2025 Liquidation Cost/Charge
R&D Expenses (Pre-Liquidation Run Rate)	$16.4 million (Q3 2024)	Minimal ongoing, largely covered by one-time charges.
G&A Expenses (Pre-Liquidation Run Rate)	$4.0 million (Q3 2024)	Reduced to core liquidation support.
Professional Fees (Joint Liquidators & Advisors)	N/A (New cost)	Up to $516,760 (£400,000 at 1.2919 USD/GBP).
Final Employee Severance & Retention	Workforce reduction announced Nov 2024	Up to $8.5 million (Includes $4.5M recorded Q3 2024 + up to $4.0M estimated additional).
Nasdaq Delisting & SEC Deregistration	N/A (One-time event)	Costs embedded in Professional Fees/G&A; eliminates substantial future compliance expense.

Achilles Therapeutics plc (ACHL) - Canvas Business Model: Revenue Streams

You need a clear picture of where the money is coming from at Achilles Therapeutics, and the simple truth is that the company is no longer an operating business generating commercial revenue. The revenue streams for late 2025 are entirely focused on a one-time asset sale and the preservation of capital as the company proceeds with its members' voluntary liquidation, which commenced in March 2025.

The business model canvas for Achilles Therapeutics now maps to a financial wind-down, not a growth strategy. Your focus should be on the remaining cash balance and the final distribution to shareholders, not on pipeline value. That's the cold reality of a clinical-stage biotech concluding its strategic review.

Cash proceeds from the sale of technology assets to AstraZeneca totaling $12,000,000

The most significant and definitive revenue event for the 2025 fiscal year was the one-time sale of key proprietary technology assets to AstraZeneca. This transaction, which concluded the company's strategic review announced in September 2024, provided a crucial cash injection as the company prepared for liquidation.

The total cash proceeds from this sale were exactly $12,000,000. This payment was for the commercial license of data and samples from the TRACERx Non-Small Cell Lung Cancer (NSCLC) study, which included over 3,200 tumor samples, plus the transfer of the Material Acquisition Platform (MAP). This is not a recurring revenue stream; it is a liquidation event. The company's expected revenue for Q1 2025 was forecast at $0, underscoring the non-operational status.

Interest income on the remaining cash and cash equivalents balance

With the company in a capital preservation phase, the second primary revenue stream is the interest earned on its remaining cash and cash equivalents. As of September 30, 2024, the cash and cash equivalents stood at $86.1 million, plus a subsequent $12.8 million R&D tax credit received in October 2024. Adding the $12.0 million from the AstraZeneca sale, the total liquid assets available for short-term investment are approximately $110.9 million.

Here's the quick math: Assuming a conservative annual interest rate of 3.9% for highly liquid, short-duration corporate investments, which aligns with the Federal Reserve's target range of 3.75%-4.00% for late 2025, the estimated annual interest income is substantial.

Metric	Value (USD)	Notes
Cash & Cash Equivalents (Sep 30, 2024)	$86,100,000	Pre-AstraZeneca sale and R&D credit.
R&D Tax Credit (Oct 2024)	$12,800,000	Cash received subsequent to Q3 2024.
AstraZeneca Sale Proceeds (Dec 2024)	$12,000,000	One-time, non-recurring revenue event.
Approximate Investable Balance	$110,900,000	Sum of the above.
Estimated Annual Interest Rate (2025)	3.9%	Representative rate based on Fed Funds/short-term Treasuries in late 2025.
Estimated Annual Interest Income	$4,325,100	$110.9M 3.9%.

This interest income, while a revenue stream, simply acts to slow the burn rate and maximize the final capital return to shareholders during the liquidation process.

Potential, but unlikely, final licensing fees or sales of residual IP assets

While the major asset sale to AstraZeneca is complete, the liquidators may still pursue nominal revenue from residual, non-core intellectual property (IP) assets or final, minor licensing fees. Honestly, this is a long shot.

The strategic review concluded with the AstraZeneca deal, and the company's subsequent move to voluntary liquidation suggests there are no significant, high-value assets remaining. Any potential revenue here would be minimal, likely in the low thousands of dollars, and would be classified as miscellaneous income in the final accounting. For all practical purposes in a financial model, you should budget $0 for this line item, as analysts expect zero revenue from operations.

The primary focus is capital preservation, not revenue generation, in this wind-down phase.

The entire revenue model has shifted from a high-risk, high-reward biotech pipeline to a low-risk, capital preservation strategy. The company is no longer spending on R&D for its discontinued T-cell therapy programs, having closed its Phase I/IIa CHIRON and THETIS clinical trials. The main goal is to manage the remaining cash to cover final legal, administrative, and liquidation costs, and then distribute the maximum possible capital to the members.

• Maximize final shareholder distribution.
• Minimize administrative and liquidation expenses.
• Earn interest on cash to offset remaining costs.

The only true 'revenue' is the one-time sale; everything else is a function of treasury management. Finance: defintely track the interest income against the liquidation costs weekly.