Lumos Pharma Appoints Joseph S. McCracken, DVM, MS to Board of Directors Rick Hawkins, CEO, appointed Chairman of the Board
March 30 2020 - 8:00AM
Lumos Pharma, Inc. (NASDAQ:LUMO), a clinical-stage
biopharmaceutical company focused on therapeutics for rare
diseases, has announced the appointment of Joseph S. McCracken,
DVM, MS to the company's Board of Directors, effective March 23,
2020. Dr. McCracken has extensive experience in the pharmaceutical
and biotechnology industry, with prominent roles in business
development, commercial development, and positions as board member
for several companies. In connection with this appointment, the
company's board will be comprised of seven directors.
"We are delighted to welcome Dr. McCracken to
Lumos Pharma’s Board of Directors," said Rick Hawkins, Chairman,
Chief Executive Officer and Present. “His extensive experience in
business and commercial development across the pharmaceutical and
biopharma industry, as well as Dr. McCracken’s directorships on
several boards, further strengthens our board and represents a
valuable addition to Lumos Pharma as the company forges ahead with
its current clinical program and plans to expand its pipeline.”
Dr. McCracken has more than twenty-five years of
experience in the pharmaceutical and biotechnology industry. Until
his retirement in 2013, he had a successful career in the industry
where he held top managerial positions in business and commercial
development and licensing at Roche Pharma, Genentech, Aventis
Pharmaceuticals, and Rhone-Poulenc Rorer Pharmaceuticals. Dr.
McCracken’s leadership roles at these companies included
responsibility for partnering and licensing activities globally. In
these positions, he oversaw the establishment of hundreds of
collaborations or licensing agreements with biopharmaceutical
companies and academic institutions and was part of an
award-winning Business Development team at Genentech.
Since 2013, Dr. McCracken has advised
biopharmaceutical companies through board participation and as a
consultant. Dr. McCracken currently serves on the boards of several
companies including publicly listed Savara Inc. (SVRA), focused on
the treatment of rare respiratory diseases, and Kindred Biosciences
(KIN), focused on therapeutics for animal health, as well as
privately held Alkahest, Inc., focused on treatment for age-related
conditions and diseases of unmet need.
Dr. McCracken received a B.S. degree in
Microbiology and Animal Science, a Doctor of Veterinary Medicine
(D.V.M.), and an M.S. degree from Ohio State University.
“I am excited to join the Board of Directors of
Lumos Pharma and look forward to working with the board and the
company’s management team to advance Lumos Pharma’s clinical
development program for LUM-201 and to assist the company with its
plan to evaluate other assets to expand its pipeline," said Dr.
McCracken.
In addition, Lumos Pharma announced that Rick
Hawkins has been appointed Chairman of the Board, effective March
26, 2020, and has assumed the title of Chairman, Chief Executive
Officer, and President of Lumos Pharma, Inc. Mr. Hawkins has been
the Chief Executive Officer of Lumos Pharma since January 2011 and
has served on the company’s board since 2012. Mr. Hawkins also
currently serves as a director on the boards of Savara
Pharmaceuticals (SVRA) and Plus Therapeutics (PSTV).
Mr. Hawkins has had numerous successes
throughout his career in the biopharmaceutical industry. He
founded id2, a pharmaceutical and biotechnology research management
company, through which as Chairman and CEO served as advisor in the
start-up of numerous companies, including Sensus (sold to Pfizer),
a developer of the growth hormone receptor antagonist for
acromegaly; Covance Biotechnology Services, sold to Akzo Nobel; and
LabNow, a point-of-care diagnostic device company. Prior to id2,
Mr. Hawkins co-founded Pharmaco, a clinical contract research
organization (CRO) where he served as its Chairman, President and
CEO and grew the organization to over 700 employees, and merged the
company with PPD of Wilmington, NC to form PPD Pharmaco, one of the
largest CROs in the world.
About Lumos Pharma
Lumos Pharma, Inc. is a clinical stage
biopharmaceutical company focused on the development and
commercialization of therapeutics for rare and neglected diseases.
Lumos Pharma was founded and is led by a management team with
longstanding experience in rare disease drug development and is
funded by leading healthcare investors, including Deerfield
Management, a fund managed by Blackstone Life Sciences, Roche
Venture Fund, New Enterprise Associates (NEA), Santé Ventures, and
UCB. Lumos Pharma’s lead therapeutic candidate is LUM-201, a
late-stage ready asset, is an oral growth hormone stimulating small
molecule for the treatment of Pediatric Growth Hormone Deficiency
(PGHD). If approved by the FDA, LUM-201 would provide an
alternative to daily injections that current PGHD patients endure
for many years of treatment. LUM-201 has received Orphan Drug
Designation in both the US and EU. For more information,
please visit www.lumos-pharma.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements of Lumos Pharma, Inc. (the “Company”) that involve
substantial risks and uncertainties. All statements contained in
this press release are forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
The words “forecast,” “projected,” "guidance," "upcoming," "will,"
"plan," “intend,” "anticipate," "approximate," "expect,"
“potential,” “imminent,” or the negative of these terms or other
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. These forward-looking statements include,
among others, statements regarding the expected initiation of a
Phase 2b clinical trial, the sufficiency of funding for such trial,
the potential of an orally administered treatment regimen for PGHD
and other indications, designation of another board member,
projected cash position and its sufficiency to fund the combined
company’s operations through data read-out for the Phase 2b trial
of LUM-201 in PGHD; and any other statements other than statements
of historical fact. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
the forward-looking statements that the Company makes due to a
number of important factors, risks that could cause actual results
to differ materially from those matters expressed in or implied by
such forward-looking statements are discussed in "Risk Factors" and
elsewhere in Lumos Pharma’s definitive proxy statement, as
amended and filed with the SEC on February 13, 2020, Lumos
Pharma’s Annual Report on Form 10-K for the year
ended December 31, 2019 and other reports filed with
the SEC. The forward-looking statements in this press release
represent the Company’s views as of the date of this
press release. The Company anticipates that subsequent events
and developments will cause their views to change. However, while
it may elect to update these forward-looking statements at some
point in the future, the Company specifically disclaims any
obligation to do so. You should, therefore, not rely on these
forward-looking statements as representing either of the
Company’s views as of any date subsequent to the date of this
press release.
Investor & Media Contact:
Lisa MillerLumos Pharma Investor
Relations512-648-3757ir@lumos-pharma.com
Source: Lumos Pharma, Inc.
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