SAN DIEGO and PENNINGTON, N.J., July
16, 2018 /PRNewswire/ -- OncoSec Medical Incorporated
(OncoSec) (NASDAQ:ONCS), a company developing intratumoral cancer
immunotherapies, today announced the appointment of Sara M. Bonstein as Chief Financial Officer and
Chief Operating Officer. In these roles, Ms. Bonstein will be
responsible for leading the Company's financial and capital markets
activities, as well as overseeing all G&A functions and
technical operations.
"Sara is a seasoned strategic executive with significant
experience in the public biotechnology and pharmaceutical
industry," said Daniel J. O'Connor,
President and Chief Executive Officer of OncoSec. "She joins
OncoSec at an extremely important time, as we look to achieve
several key milestones in the remainder of 2018. Sara has a proven
track record of success and I am pleased she chose to join
OncoSec."
Ms. Bonstein joins OncoSec from Advaxis, where she served as
Chief Financial Officer, Secretary, Treasurer and Executive Vice
President. Prior to Advaxis, she held key financial leadership
positions with Eli Lilly & Company, ImClone Systems and Johnson
& Johnson.
Ms. Bonstein holds a B.S. in Finance from The College of New Jersey, an M.B.A. from Rider University and is a graduate of Johnson &
Johnson's Financial Leadership Development Program.
Ms. Bonstein has extensive experience in leading biotech
companies. While at Eli Lilly & Company, Ms. Bonstein was a Six
Sigma Champion and Black Belt, leading multiple projects relating
to clinical research, project management, finance, manufacturing,
and commercial sales. Prior to her Six Sigma role, Ms. Bonstein
held positions of increasing responsibility at ImClone (which was
acquired by Eli Lilly in 2008) including Director of Finance where
she led all budget and forecast activities for preclinical,
clinical and manufacturing research and development. While at
Advaxis, she established a strong track record of achieving
corporate objectives and streamlining business operations, was
responsible for the overall leadership and management of its
operations, including corporate finance, investor relations,
business development, IT, facilities, legal and human resources and
was named the NJBIZ 2016 CFO of the Year for Healthcare for her
work.
In connection with her appointment, Ms. Bonstein received a
one-time inducement award of 625,000 restricted shares, of which
312,5000 (50%) are fully vested as of the grant date. The
remaining shares vest quarterly over a two-year period. The
Company approved the award as an inducement material to Ms.
Bonstein entering into employment with the Company in accordance
with NASDAQ Listing Rule 5635(c)(4).
Ms. Bonstein will succeed Richard
Slansky, Chief Financial Officer, who will leave to pursue
new opportunities. "We would like to thank Richard for his hard
work and dedicated service to OncoSec and we wish him well in his
new endeavors," stated Mr. O'Connor.
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 plasmid encoded IL-12
(tavokinogene telseplasmid or "tavo"). In Phase 1 and 2 clinical
trials, ImmunoPulse® IL-12 has demonstrated a favorable
safety profile, evidence of anti-tumor activity in the treatment of
various solid tumors, and the potential to reach beyond the site of
local treatment to initiate a systemic immune response. OncoSec's
lead program, ImmunoPulse IL-12, is currently in clinical
development for 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 have
relapsed on anti-PD-1 therapies. In addition to tavo, 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.
CONTACT
Investor Relations:
Will O'Connor
Stern Investor Relations
Phone: (212) 362-1200
will@sternir.com
Media Relations:
Janine McCargo / David Schemelia
Tiberend Strategic Advisors, Inc.
Phone: 212-827-0020
jmccargo@tiberend.com
dschemelia@tiberend.com
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SOURCE OncoSec Medical Incorporated