CytomX Therapeutics Appoints Marion McCourt to Board of Directors
March 30 2017 - 8:00AM
CytomX Therapeutics, Inc. (Nasdaq:CTMX), a biopharmaceutical
company developing investigational Probody™ therapeutics for the
treatment of cancer, today announced the appointment of Marion
McCourt to its Board of Directors. Ms. McCourt has more than
two decades of operational and commercial leadership experience at
several of the world's most innovative biopharmaceutical companies.
The company also announced that Tim Shannon, M.D., General
Partner at Canaan Partners, will leave the Board after more than
four years of service.
“Marion’s joining our board comes at an important time for
CytomX as our first two wholly-owned programs, CX-072 and CX-2009,
enter Phase 1/2 clinical trials,” said Sean McCarthy, D.Phil.,
President and Chief Executive Officer of CytomX Therapeutics. “Her
deep commercial expertise makes her an ideal fit as we build our
clinical development capabilities and ultimately plan for
commercialization of our innovative pipeline of novel Probody
cancer therapeutics. We also would like to thank Tim for his many
contributions to the Board and for the instrumental role he and the
Canaan Partners team have played in our success to date.”
Ms. McCourt most recently served as Chief Operating Officer at
Medivation until the company’s acquisition by Pfizer in September
2016. Prior to joining Medivation in February 2016, Ms. McCourt
served as Vice President of U.S. Commercial Operations at Amgen
Inc. Prior to that, she also served as Vice President and General
Manager of Amgen's Bone Health & Primary Care Business Unit.
Before joining Amgen, Ms. McCourt held numerous positions of
increasing responsibility over a twelve-year career at AstraZeneca.
There, she most recently served as Chief Operating Officer of
AstraZeneca U.S., where she was responsible for all U.S. commercial
functions, including medical affairs, business development,
finance, human resources, legal, operations and corporate affairs.
Ms. McCourt holds a B.S. degree in Biology from Lafayette
College.
About CytomX TherapeuticsCytomX is a
clinical-stage, oncology-focused biopharmaceutical company
pioneering a novel class of investigational antibody therapeutics
based on its Probody technology platform. The company uses its
platform to create proprietary cancer immunotherapies against
clinically-validated targets, such as PD-L1, and develop
first-in-class cancer therapeutics against difficult-to-drug
targets, such as CD166. Probody therapeutics are designed to take
advantage of unique conditions in the tumor microenvironment to
enhance the tumor-targeting features of an antibody and reduce drug
activity in healthy tissues. The company’s lead program,
CX-072, a wholly-owned PD-L1-targeting Probody therapeutic, is
being evaluated in a Phase 1/2 study. CX-072 is part of PROCLAIM
(Probody Clinical Assessment In Man), an international umbrella
clinical trial program that provides clinical trial sites with
access to the company’s novel therapies under one central protocol.
The Investigational New Drug filing for CX-2009, a first-in-class
Probody drug conjugate targeting the highly expressed tumor
antigen, CD166, is targeted for the first half of 2017. In addition
to its proprietary programs, CytomX is collaborating with strategic
partners, including AbbVie, Bristol-Myers Squibb Company, Pfizer
Inc., MD Anderson Cancer Center and ImmunoGen, Inc. For more
information, visit www.cytomx.com or follow us on
Twitter.
CytomX Therapeutics 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 efficacy of CytomX’s product
candidates, the company’s ability to develop and advance product
candidates into and successfully complete clinical trials,
including the company’s Phase 1/2 clinical trial of CX-072 and the
timing of any future clinical trials. One of our product candidates
under our Probody platform is in the initial stages of clinical
development and our 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.
Projected net cash utilization and capital resources are subject to
substantial risk of variance based on a wide variety of factors
that can be difficult to predict. 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 the company’s Annual
Report on Form 10-K filed with the SEC on March 2, 2017. 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.
Media Contact:
Canale Communications
Ian Stone
ian@canalecomm.com
619-849-5388
Investor Contact:
Trout Group
Pete Rahmer
prahmer@troutgroup.com
646-378-2973
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