CytomX Therapeutics Announces Changes to its Board of Directors
20 Diciembre 2018 - 7:00AM
- President and CEO Sean McCarthy, D. Phil.,
Appointed to Additional Role of Chairman -
CytomX Therapeutics, Inc. (Nasdaq: CTMX), a clinical-stage
oncology-focused biopharmaceutical company pioneering a novel class
of investigational antibody therapeutics based on its Probody™
therapeutic technology platform, today announced changes to its
board of directors.
Hoyoung Huh, M.D., Ph.D., who has served as chairman of CytomX’s
board of directors since March 2012, will retire from the board
effective December 31, 2018, whereupon he will serve as a special
advisor to the chief executive officer of CytomX. With Dr.
Huh’s retirement, the board of directors has appointed Dr.
McCarthy, CytomX’s president and chief executive officer, to serve
as chairman.
“On behalf of CytomX’s management and Board, I would like to
thank Hoyoung for his strategic leadership and insight over the
last six years,” said Sean McCarthy, D.Phil., president and chief
executive officer of CytomX. “Hoyoung has helped us mature CytomX
from an early stage startup company to an integrated research and
development organization with multiple wholly-owned and partnered
product candidates in the clinic. I am delighted that CytomX
will continue to benefit from his expertise as an advisor as we
continue to advance towards realizing our vision of transforming
lives with safer, more effective therapies.”
In conjunction with Dr. McCarthy’s appointment as chairman,
existing company director Matthew Young has been appointed to the
role of lead independent director.
The company also announced that James R. Meyers has been
appointed as an independent director to the CytomX board.
Mr. Meyers brings more than 30 years of worldwide commercial
leadership experience within the biotechnology industry. Mr. Meyers
has served as a senior advisor to Gilead Sciences since his
retirement from Gilead in February 2018. Prior to his advisory
role, Mr. Meyers most recently served as Gilead’s executive vice
president of worldwide commercial operations where he was
responsible for all commercial activities, including pricing and
market access in North America, Europe, Middle East, Australia and
Japan. Over his 22-year career at Gilead, Mr. Meyers led some of
the most important and successful product launches in the history
of the biopharmaceutical industry, most notably in the therapeutic
areas of HCV and HIV. Prior to joining Gilead, Mr. Meyers held
positions of increasing responsibility in sales, training,
marketing and management with Zeneca Pharmaceuticals and Astra USA.
Mr. Meyers currently serves on the board of Arbutus Biopharma
Corporation, a public biopharmaceutical company focused on
commercializing a cure for patients suffering from chronic
hepatitis B infection. Mr. Meyers holds a B.S. in Economics from
Boston College.
Continued Dr. McCarthy, “We are honored to have Jim joining our
Board of Directors as we continue to advance our clinical stage
pipeline and drive towards building a commercial-stage
organization. Jim brings deep operational and strategic expertise
and is a recognized leader with a proven track record of commercial
success. I look forward to working closely with Jim and the full
board as we endeavor to take CytomX to the next level.”
Commenting on his appointment Mr. Meyers said, “I’m thrilled to
be joining the CytomX board at this pivotal time in the company’s
evolution and I very much look forward to contributing to the
further advancement of this unique organization.”
About CytomX Therapeutics
CytomX Therapeutics is a clinical-stage oncology-focused
biopharmaceutical company pioneering a novel class of
investigational antibody therapeutics based on its Probody™
therapeutic technology platform. Probody therapeutics are designed
to exploit unique conditions of the tumor microenvironment to more
effectively localize antibody binding and activity while limiting
activity in healthy tissues. CytomX and its partners have four
programs in the clinic. The Company’s pipeline includes
cancer immunotherapies against clinically-validated targets,
including a PD-L1-targeting Probody therapeutic wholly owned by
CytomX (CX-072), a PD-1-targeting Probody therapeutic wholly owned
by CytomX (CX-188) and a CTLA-4-targeting Probody therapeutic
partnered with Bristol Myers Squibb (BMS-986249). The pipeline also
includes first-in-class Probody drug conjugates against highly
attractive targets, including a CD166-targeting Probody drug
conjugate wholly owned by CytomX (CX-2009), and a CD71-targeting
Probody drug conjugate partnered with AbbVie (CX-2029). CD166 and
CD71 are among cancer targets that are considered to be
inaccessible to conventional antibody drug conjugates due to their
presence on many healthy tissues. In addition to its wholly owned
programs, CytomX has strategic collaborations with AbbVie, Amgen,
Bristol-Myers Squibb Company and ImmunoGen, Inc. For more
information, visit www.cytomx.com.
CytomX Therapeutics Forward-Looking
Statements
This press release includes forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that are difficult to
predict, may be beyond our control, and may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied in such statements. Accordingly, you should not rely on any
of these forward-looking statements, including those relating to
the potential benefits, safety and efficacy of CytomX’s or any of
its collaborative partners’ product candidates and CytomX’s ability
and the ability of its collaborative partners to develop and
advance product candidates into and successfully complete clinical
trials. Risks and uncertainties that contribute to the uncertain
nature of the forward-looking statements include: three of CytomX’s
product candidates under its Probody platform are in the initial
stages of clinical development and its other product candidates are
currently in preclinical development, and the process by which
preclinical and clinical development could potentially lead to an
approved product is long and subject to significant risks and
uncertainties. Additional applicable risks and uncertainties
include those relating to our preclinical research and development,
clinical development, and other risks identified under the heading
"Risk Factors" included in CytomX’s Quarterly Report on Form 10-Q
filed with the SEC on November 6, 2018. The forward-looking
statements contained in this press release are based on information
currently available to CytomX and speak only as of the date on
which they are made. CytomX does not undertake and specifically
disclaims any obligation to update any forward-looking statements,
whether as a result of any new information, future events, changed
circumstances or otherwise.
Contact:
Investors and Media:
Debanjan Ray Chief Financial Officer debanjan@cytomx.com 650-
515-4990
Christopher Keenan VP, Investor Relations and Corporate
Communications ckeenan@cytomx.com 650-383-0823
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