Geron Announces Appointment of New Executive to Focus on Corporate Strategy
December 03 2019 - 8:00AM
Business Wire
Geron Corporation (Nasdaq: GERN) today announced the appointment
of Anil Kapur as Executive Vice President, Corporate Strategy and
Chief Commercial Officer. With this appointment, all functions of a
fully-integrated, late-stage drug development executive leadership
team are now in place.
“We are pleased to welcome Anil whose proven track record in
shaping hematology-oncology development programs, launching
blockbuster oncology products and managing external alliances
rounds out our executive team’s capabilities,” said John A.
Scarlett, M.D., Chairman and Chief Executive Officer. “More
importantly, he will provide a commercial lens to Geron’s corporate
strategy that will be instrumental as we evaluate current and
future indications of imetelstat to maximize the value of the
program, as well as other potential assets to diversify the
Company’s pipeline over the long-term.”
In his role at Geron, Mr. Kapur will be a member of the
Company’s Executive Management Committee. His initial focus will be
on developing value-creating strategic plans to build Geron’s
hematology-oncology franchise while leading the Company’s
assessment of additional indications for imetelstat. As Geron
continues to advance the imetelstat program toward potential
commercialization over time, he will be responsible for
implementing Geron’s commercial strategy and forming a commercial
organization.
“I am excited to be joining Geron,” said Anil Kapur, Executive
Vice President, Corporate Strategy and Chief Commercial Officer.
“Having seen imetelstat’s transformative potential for disease
modification through telomerase inhibition while at Janssen, I
strongly believe that imetelstat has great promise in
hematology-oncology, and look forward to helping strategically
build imetelstat and Geron into an important and meaningful
enterprise for clinicians, patients, shareholders and
employees.”
Mr. Kapur brings more than 19 years of U.S. and global
biopharmaceutical experience to Geron. Most recently, he was Chief
Commercial Officer at Actinium Pharmaceuticals, Inc., where he
created a strategic commercialization roadmap to help the company
transition from clinical stage to a commercial entity. Prior to
that, Mr. Kapur was Vice President, Head of Early Assets,
Biomarkers and External Innovation for Worldwide Oncology
Commercialization at Bristol-Myers Squibb Company. In this role, he
led early-asset and biomarker commercial groups with a mandate for
accelerating the development of the immuno-oncology portfolio
comprising over 20 pipeline assets, including collaborations.
Previously, Mr. Kapur was Vice President, Global Head of Commercial
and Portfolio Strategy at Baxalta, Incorporated, where he was
responsible for growing the newly created Baxalta Oncology Division
into a top-tier global oncology business and leading the global
commercialization efforts of the company’s oncology portfolio.
During Mr. Kapur’s 15-year tenure at Janssen Pharmaceutical
Companies of Johnson & Johnson (Janssen), he held marketing and
sales leadership roles of increasing responsibility for both the
U.S. and ex-U.S. markets. As Vice President, Commercial Leader,
Hematology Franchise in Janssen’s Global Commercial Strategy
Organization, he led the development and execution of commercial
strategy and launch plans for in-market development, late
development, and early pipeline assets, including myeloid
malignancies. During this time at Janssen, Mr. Kapur worked on
early commercialization plans for imetelstat. Among Mr. Kapur’s
most recognized achievements while at Janssen were the successful
global launches of two transformational blockbuster
hematology-oncology drugs, Imbruvica and Darzalex.
Mr. Kapur holds a Bachelor of Engineering from Birla Institute
of Technology in India; an M.S. in Industrial Engineering from
Louisiana Tech University; and an M.B.A from the Fuqua School of
Business at Duke University.
Inducement Grants Under Nasdaq Listing Rule
5635(c)(4)
In connection with the commencement of Mr. Kapur’s employment
with the Company on December 2, 2019, the Company granted him a
non-statutory stock option to purchase 700,000 shares of Geron
common stock which vests over four years, with 12.5% of the shares
underlying the option vesting on the six-month anniversary of
commencement of employment and the remaining shares vesting over
the following 42 months in equal installments of whole shares,
subject to Mr. Kapur’s continued employment with Geron. In
addition, Mr. Kapur was granted a non-statutory stock option to
purchase 250,000 shares of Geron common stock on December 2, 2019
with vesting conditioned on the achievement of a certain regulatory
milestone for imetelstat, subject to Mr. Kapur’s continued
employment with Geron on the vesting date. All of Mr. Kapur’s stock
options have a 10-year term and an exercise price of $1.43 per
share, which is equal to the closing price of Geron common stock on
the date of grant. The stock options were granted as a material
inducement to Mr. Kapur’s employment in accordance with Nasdaq
Listing Rule 5635(c)(4) and are subject to the terms and conditions
of stock option agreements covering the grants and Geron’s 2018
Inducement Award Plan, which was adopted December 14, 2018 and
provides for the granting of stock options to new employees.
About Imetelstat
Imetelstat is a novel, first-in-class telomerase inhibitor
exclusively owned by Geron and being developed in hematologic
myeloid malignancies. Early clinical data suggest imetelstat may
have disease-modifying activity through the suppression of
malignant progenitor cell clone proliferation, which allows
potential recovery of normal hematopoiesis. Ongoing clinical
studies of imetelstat consist of IMerge, a Phase 2/3 trial in lower
risk myelodysplastic syndromes (MDS), and IMbark, a Phase 2 trial
in Intermediate-2 or High-risk myelofibrosis (MF). Imetelstat has
been granted Fast Track designation by the United States Food and
Drug Administration for both the treatment of patients with
non-del(5q) lower risk MDS who are refractory or resistant to an
erythropoiesis-stimulating agent and for patients with
Intermediate-2 or High-risk MF whose disease has relapsed after or
is refractory to janus kinase (JAK) inhibitor treatment.
About Geron
Geron is a late-stage clinical biopharmaceutical company focused
on the development and potential commercialization of a
first-in-class telomerase inhibitor, imetelstat, in hematologic
myeloid malignancies. For more information about Geron, visit
www.geron.com.
Use of Forward-Looking Statements
Except for the historical information contained herein, this
press release contains forward-looking statements made pursuant to
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such statements,
include, without limitation, those regarding: (i) that imetelstat
may have disease-modifying activity; (ii) that imetelstat has the
potential for commercialization; and (iii) other statements that
are not historical facts, constitute forward looking statements.
These statements involve risks and uncertainties that can cause
actual results to differ materially from those in such
forward-looking statements. These risks and uncertainties, include,
without limitation, risks and uncertainties related to: (i) whether
imetelstat actually demonstrates disease-modifying activity in
patients; (ii) whether imetelstat attains regulatory approval, and
Geron decides to commercialize it; and (iii) whether imetelstat has
adequate patent protection and freedom to operate. Additional
information on the above risks and uncertainties and additional
risks, uncertainties and factors that could cause actual results to
differ materially from those in the forward-looking statements are
contained in Geron’s periodic reports filed with the Securities and
Exchange Commission under the heading “Risk Factors,” including
Geron’s quarterly report on Form 10-Q for the quarter ended
September 30, 2019. Undue reliance should not be placed on
forward-looking statements, which speak only as of the date they
are made, and the facts and assumptions underlying the
forward-looking statements may change. Except as required by law,
Geron disclaims any obligation to update these forward-looking
statements to reflect future information, events or
circumstances.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191203005396/en/
Suzanne Messere Investor and Media Relations investor@geron.com
media@geron.com
CG Capital 877-889-1972
Geron (NASDAQ:GERN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Geron (NASDAQ:GERN)
Historical Stock Chart
From Sep 2023 to Sep 2024