SAN DIEGO, Sept. 6, 2016 /PRNewswire/ -- OncoSec
Medical Incorporated ("OncoSec") (NASDAQ: ONCS), a company
developing DNA-based intratumoral cancer immunotherapies, today
announced Sharron Gargosky, PhD, has been appointed to Chief
Clinical and Regulatory Officer, effective as of September 1, 2016. Dr. Gargosky previously served
as OncoSec's Head of Clinical Development and Operations, as a
consultant, since February 2016. She
now joins OncoSec's management team to oversee the progress of
innovative clinical research studies through all phases and to help
define OncoSec's overall clinical business strategy.
"Dr. Gargosky continues to be an effective and powerful force in
advancing our clinical programs towards commercialization," said
Punit Dhillon, President and CEO of
OncoSec. "Her keen understanding and strategic background in
clinical operations and overall program development will
significantly advance our melanoma development program and
registration pathway for ImmunoPulse® IL-12 in
combination with anti-PD-1 in patients with advanced melanoma. Dr.
Gargosky will also help progress OncoSec's overall development
efforts to more broadly address anti-PD-1 resistant cancers. We're
thrilled to have her on board and contribute to the strength of
OncoSec's leadership team."
Dr. Gargosky has over 20 years of experience in clinical
development and operations in the field of pharmaceutical and
biologic development having managed global programs from early
research phase through the U.S. Food & Drug Administration
(FDA) approval process. Prior to joining OncoSec, Dr. Gargosky was
the Chief Technical and Operations Officer at Prima Biomed, Ltd.,
where she led the immuno-oncology program in ovarian and pancreatic
cancer overseeing international manufacturing, regulatory
approvals, and clinical execution. Prior to Prima Biomed, Dr.
Gargosky served in positions of increasing clinical and scientific
responsibility at biopharmaceutical companies including Pharmacia,
Medicis, and Hyperion Therapeutics. In her career, she was involved
in small molecule development attaining orphan drug approvals in
rare diseases. Dr. Gargosky received her PhD from the University of
Adelaide, Australia and completed
her postdoctoral fellowship at Stanford
University.
As an inducement to Dr. Gargosky entering into employment with
OncoSec, the Compensation Committee of the Board of Directors of
OncoSec approved the grant to Dr. Gargosky of an option to purchase
up to 270,000 shares of OncoSec's common stock at an exercise price
equal to the fair market value of the stock on the September 1, 2016 grant date. The option will
have a term of ten (10) years and will generally be forfeited if
not exercised before the expiration of that term, or, if earlier,
after the ninetieth (90th) day after termination of Dr. Gargosky's
employment. Twenty-five percent (25%) of the shares underlying the
award vested on the grant date and the remaining seventy-five
percent (75%) of the shares underlying the award shall vest in
thirty-six (36) equal monthly installments thereafter. The option
was granted outside of OncoSec's 2011 Stock Incentive Plan, but it
is subject to terms similar to those of non-qualified stock options
granted under such plan. This description of the inducement option
grant to Dr. Gargosky is in satisfaction of the disclosure
requirements set forth in NASDAQ Listing Rule 5635(c)(4).
About OncoSec Medical Incorporated
OncoSec is a
biotechnology company developing DNA-based intratumoral
immunotherapies with an investigational technology,
ImmunoPulse®, for the treatment of cancer.
ImmunoPulse® is designed to enhance the local delivery
and uptake of DNA-based immune-targeting agents, such as IL-12. In
Phase I and II clinical trials, ImmunoPulse® IL-12 has
demonstrated a favorable safety profile and evidence of anti-tumor
activity in the treatment of various solid tumors and has shown the
potential to reach beyond the site of local treatment to initiate a
systemic immune response. ImmunoPulse® IL-12, OncoSec's
lead program, is currently in clinical development for several
indications, including metastatic melanoma and triple-negative
breast cancer. The program's current focus is on the significant
unmet medical need in patients with melanoma who are refractory or
non-responsive to anti-PD-1/PD-L1 therapies. In addition to
ImmunoPulse® IL-12, the Company is also identifying and
developing new immune-targeting agents for use with the
ImmunoPulse® platform. For more information, please
visit www.oncosec.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements can be
identified by words such "will," "strategy," and similar references
to future periods.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based on
management's current preliminary expectations and are subject to
risks and uncertainties, which may cause our results to differ
materially and adversely from the statements contained herein.
Potential risks and uncertainties that could cause actual results
to differ from those predicted include, among others, the
following: uncertainties inherent in pre-clinical studies and
clinical trials, such as the ability to enroll patients in clinical
trials and the risk of adverse events; unexpected new data, safety
and technical issues; our ability to raise additional funding
necessary to fund continued operations; and the other factors
discussed in OncoSec's filings with the Securities and Exchange
Commission.
Undue reliance should not be placed on forward-looking
statements, which speak only as of the date they are made. OncoSec
disclaims any obligation to update any forward-looking statements
to reflect new information, events or circumstances after the date
they are made, or to reflect the occurrence of unanticipated
events.
Contact:
Mary
Marolla
OncoSec Medical Incorporated
855-662-6732
media@oncosec.com
Logo -
http://photos.prnewswire.com/prnh/20120905/LA68078LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/oncosec-appoints-sharron-gargosky-phd-to-chief-clinical-and-regulatory-officer-300322495.html
SOURCE OncoSec Medical Incorporated