CytomX Therapeutics Announces Retirement of Frederick W. Gluck from Board of Directors
23 Marzo 2022 - 2:15PM
CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of
conditionally activated oncology therapeutics, today announced that
Frederick W. Gluck is retiring from its board of directors,
effective June 30th, 2022.
“It has been an honor to serve on the CytomX
board since the company’s founding,” said Frederick W. Gluck. “With
a deep and differentiated clinical pipeline, a world class team and
strong partnerships, CytomX is well positioned to deliver on its
vision of bringing safer and more effective therapies to cancer
patients and I wish the company continued success in the years to
come.”
Mr. Gluck has served as a member of the CytomX
Therapeutics board since the company’s founding in 2008. He was a
co-founder of CytomX, LLC, the predecessor company, and served as
its chairman of the board and chief executive officer from 2006 to
2008.
“As our co-founder, Fred’s wide ranging
strategic acumen has been instrumental in shaping our corporate
evolution, positioning CytomX as a leader in the field of
conditional activation of cancer therapeutics,” said Sean McCarthy,
D.Phil., chief executive officer and chairman of the board of
directors. “We are grateful for Fred’s many valuable contributions
to CytomX and the board throughout the years, and we wish him all
the best in his retirement.”
Following Mr. Gluck’s retirement, CytomX’s board
will consist of eight directors, seven of whom are considered as
independent under NASDAQ rules.
About CytomX Therapeutics,
Inc.CytomX is a clinical-stage, oncology-focused
biopharmaceutical company dedicated to destroying cancer
differently. By pioneering a novel class of conditionally activated
biologics, powered by its Probody® technology platform, CytomX’s
goal is to transcend the limits of current cancer treatments by
successfully leveraging therapeutic targets that were once thought
to be inaccessible. CytomX’s robust and differentiated pipeline
includes the wholly-owned praluzatamab ravtansine (CX-2009), an
investigational conditionally activated antibody-drug conjugate
(ADC) directed toward CD166, and CX-2029, an investigational
conditionally activated ADC directed toward CD71 being developed in
collaboration with AbbVie. These two programs are currently being
evaluated in Phase 2 studies, targeting a variety of late-stage,
difficult-to-treat cancer types, including breast cancer for
praluzatamab ravtansine, and squamous non-small cell lung cancer,
and head and neck squamous cell carcinoma for CX-2029. CytomX’s
clinical pipeline also includes cancer immunotherapeutic candidates
against validated targets such as the CTLA-4-targeting Probody
therapeutics, BMS-986249 and BMS-986288, partnered with Bristol
Myers Squibb, and our wholly-owned conditionally activated
anti-PD-L1 antibody, pacmilimab (CX-072), as well as CX-904, a
conditionally activated T-cell-engaging bispecific antibody
targeting the epidermal growth factor receptor on tumor cells and
the CD3 receptor on T cells, which is partnered with Amgen. In
addition, CytomX has a diverse preclinical portfolio and strategic
collaborations with multiple leaders in oncology, including AbbVie,
Amgen, Astellas, and Bristol Myers Squibb. For more information
about CytomX and how it is working to make conditionally activated
treatments the new standard-of-care in the fight against cancer,
visit www.cytomx.com and follow us on LinkedIn and Twitter.
Forward-Looking StatementsThis
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 or progress of CytomX’s
or any of its collaborative partners’ product candidates, including
praluzatamab ravtansine (CX-2009), CX-2029, BMS-986249, BMS-986288,
pacmilimab, and CX-904, the potential benefits or applications of
CytomX’s Probody platform technology, CytomX’s ability to develop
and advance product candidates into and successfully complete
clinical trials, including the ongoing and planned clinical trials
of praluzatamab ravtansine, CX-2029, BMS-986249, BMS-986288,
pacmilimab, and CX-904, and the timing of the commencement of
clinical trials, initial and ongoing data availability,
investigational new drug applications and other development
milestones. Risks and uncertainties that contribute to the
uncertain nature of the forward-looking statements include: the
unproven nature of CytomX’s novel Probody Platform technology;
CytomX’s clinical trial product candidates, including CX-904, 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, including the risk that the
COVID-19 worldwide pandemic may continue to negatively impact the
business, research and clinical operations of CytomX or its
partners, including the development of preclinical drug candidates
due to delays in and disruption of research activities and the
development of clinical drug candidates due to delays in or
disruption of clinical trials, including impacts on the enrollment
of patients in clinical trials or other clinical trial disruptions;
the possibility that the results of early clinical trials may not
be predictive of future results; the possibility that CytomX’s
clinical trials will not be successful; the possibility that
current preclinical research may not result in additional product
candidates; CytomX’s dependence on the success of praluzatamab
ravtansine, CX-2029, BMS-986249, BMS-986288, pacmilimab, and
CX-904; CytomX’s reliance on third parties for the manufacture of
the Company’s product candidates; and possible regulatory
developments in the United States and foreign countries.
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 Annual Report on Form 10-K filed with
the SEC on March 1, 2022. 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.
Probody is a U.S. registered trademark of CytomX
Therapeutics, Inc.
Investor Contact:Chau Cheng,
PhD MBAVP, Investor Relations & Corp.
Communicationsccheng@cytomx.comDirect: (650) 273-4999
Media Contact:Bret
CoonsDirector, Corporate Communicationsbcoons@cytomx.comDirect:
(650) 528 2929
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