Sesen Bio Appoints Drug Development Expert, Dennis Kim, M.D., MPH, as Chief Medical Officer
December 03 2018 - 6:30AM
Business Wire
Sesen Bio, Inc. (Nasdaq: SESN), a late-stage clinical company
developing targeted fusion protein therapeutics for the treatment
of people with cancer, today announced the appointment of Dennis
Kim, M.D., MPH, as chief medical officer. In this role, Dr. Kim
will oversee the continued Phase 3 development of Vicinium, Sesen
Bio’s lead targeted fusion protein, for patients with high-grade
non-muscle invasive bladder cancer (NMIBC), as well as preparations
for a marketing authorization submission and pre-commercial
activities.
“We are thrilled to welcome Dennis to the Sesen Bio team and
look forward to leveraging his deep drug development experience,
particularly as we approach both six and 12-month data readouts
from our VISTA Trial of Vicinium,” said Dr. Thomas Cannell,
president and chief executive officer of Sesen Bio. “Dennis has an
extensive track record of leading product candidates through
development to approval and commercial launch. As the Vicinium
program advances, his leadership will be instrumental in helping us
bring this novel treatment to patients in need and achieving our
mission of saving and renewing the lives of people with
cancer.”
Dr. Kim brings significant drug development and
commercialization experience to Sesen Bio’s leadership team. He has
played key roles in both the approval and commercial launch of more
than 10 products in oncology and immunology. Prior to joining Sesen
Bio, Dr. Kim held senior and leadership roles at Ipsen, Spectrum,
Novartis, Biogen Idec, and Amgen. Previously, Dr. Kim was an
Epidemic Intelligence Service Officer at the Centers for Disease
Control and Prevention where he played active roles in
environmental and infectious disease studies. Dr. Kim earned his
bachelor’s degree in chemistry and biology from Harvard, his M.D.
from Stanford University and his MPH from the University of
California, Los Angeles.
“I am highly encouraged by the data generated to date with
Vicinium in high-grade non-muscle invasive bladder cancer, and
believe this therapy has the potential to change the way we treat
bladder cancer,” said Dr. Kim. “I am excited to work with the Sesen
Bio team and board of directors to help propel Vicinium towards a
potential approval so that we can help the many patients, and their
families and physicians, who need a new and effective treatment
option for this devastating cancer.”
In connection with the appointment of Dr. Kim, Sesen Bio entered
into an employment agreement with Dr. Kim that, among other things,
provides for the grant of a non-statutory stock option outside of
Sesen Bio’s 2014 Stock Incentive Plan as an inducement material to
Dr. Kim’s entering into employment with Sesen Bio in accordance
with Nasdaq Stock Market Listing Rule 5635(c)(4). The stock option
to purchase 425,000 shares of the company’s common stock is being
granted effective as of December 3, 2018. The stock option grant
was approved by the independent compensation committee of the board
of directors in accordance with Nasdaq Stock Market Listing Rule
5635(c)(4). This stock option will have an exercise price per share
equal to the closing price per share of Sesen Bio’s common stock on
The Nasdaq Global Market on December 3, 2018. The stock option will
have a ten-year term and will vest over a four-year period, with 25
percent of the shares underlying the stock option award vesting on
the first anniversary of the date of grant and an additional 6.25
percent of the shares underlying the stock option vesting at the
end of each successive three-month period following the one-year
anniversary of the date of grant of the stock options, subject to
Dr. Kim’s continued service with the company through the applicable
vesting dates.
About Sesen BioSesen Bio, Inc. is a late-stage clinical
company advancing targeted fusion protein therapeutics for the
treatment of cancer. The company’s lead program, Vicinium™, also
known as VB4-845, is currently in a Phase 3 registration trial, the
VISTA Trial, for the treatment of high-grade non-muscle invasive
bladder cancer. Twelve-month data from the trial are anticipated in
mid-2019. Vicinium incorporates a tumor-targeting antibody fragment
and a protein cytotoxic payload into a single protein molecule
designed to selectively and effectively kill cancer cells while
minimizing toxicity to non-cancerous bladder cells. For more
information, please visit the company’s website at
www.sesenbio.com.
Cautionary Note on Forward-Looking StatementsAny
statements in this press release about future expectations, plans
and prospects for the Company, the Company’s strategy, future
operations, and other statements containing the words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,”
“predict,” “project,” “target,” “potential,” “will,” “would,”
“could,” “should,” “continue,” and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: the
uncertainties inherent in the initiation and conduct of clinical
trials, the possibility that the three-month or six-month data of
the Phase 3 VISTA Trial are not indicative of final clinical
results and final clinical trial results may not be positive with
regard to the safety or efficacy of Vicinium, our ability to
successfully develop our product candidates and complete our
planned clinical programs, our ability to obtain marketing
approvals for our product candidates, expectations regarding our
ongoing clinical trials, availability and timing of data from
clinical trials, whether interim results from a clinical trial will
be predictive of the final results of the trial, the adequacy of
any clinical models, expectations regarding regulatory approvals
and other factors discussed in the “Risk Factors” section of the
Company’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and other reports filed with the Securities and Exchange
Commission. In addition, the forward-looking statements included in
this press release represent the Company’s views as of the date
hereof. The Company anticipates that subsequent events and
developments will cause the Company’s views to change. However,
while the Company may elect to update these forward-looking
statements at some point in the future, the Company specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing the Company’s views as of
any date subsequent to the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20181203005147/en/
Monique Allaire, THRUST Strategic
Communicationsmonique@thrustir.com617-895-9511
Alicia Davis, THRUST Strategic
Communicationsalicia@thrustir.com910-620-3302
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