Sesen Bio Announces CFO Transition as Company Drives Towards Anticipated Initiation of BLA Submission in 4Q 2019
August 26 2019 - 4:05PM
Business Wire
Company Appoints Monica Forbes as Chief
Financial Officer and Kirstin Anderson as Principal Accounting
Officer
Sesen Bio (Nasdaq: SESN), a late-stage clinical company
developing targeted fusion protein therapeutics for the treatment
of patients with cancer, today announced the appointment of Monica
Forbes as its Chief Financial Officer, effective immediately. Ms.
Forbes will succeed Richard F. Fitzgerald, who will be leaving the
Company effective August 30, 2019. In addition, the Company has
appointed Kirstin Anderson, Corporate Controller, as Principal
Accounting Officer.
Ms. Forbes previously served as the Company’s Vice President of
Finance. Ms. Forbes has more than 20 years of financial leadership
experience, including prior experience leading the finance and
administrative functions of late- and commercial-stage public and
private life science companies. Ms. Forbes will report to the
Company’s President and CEO, Dr. Thomas Cannell, and she will lead
Sesen Bio’s finance department. Ms. Forbes holds a Bachelor of
Science in Business Administration from San Diego State
University.
“Monica’s breadth of strategic and financial leadership
experience, as well as her expertise in building operational
infrastructure, M&A, and accessing capital markets, will help
us scale the business in a financially prudent way, which will be
essential to support the Company as we evolve from a development
stage organization and drive towards the potential approval and
commercialization of Vicinium®,” said Dr. Cannell. “I would like to
thank Rich for his many contributions to Sesen Bio and wish him
success in his future endeavors.”
Ms. Anderson currently serves as the Company’s Corporate
Controller. Ms. Anderson has extensive accounting and audit
experience across multiple industries and has been an integral part
of the Company’s accounting team for the last five years. Ms.
Anderson will report to Ms. Forbes and she will continue to lead
Sesen Bio’s accounting department and oversee the Company’s SEC and
SOX reporting and compliance. Ms. Anderson received her Master’s in
Accounting from the University of Colorado Denver and her Bachelor
of Science in Engineering from the University of Maryland Baltimore
County.
“Kirstin is a talented individual that is deeply familiar with
our team and accounting processes,” continued Dr. Cannell.
“Kirstin’s contributions to date have positioned us for success and
she is a natural fit to assume the position of Principal Accounting
Officer.”
About Vicinium® Vicinium, a locally-administered fusion
protein, is Sesen Bio’s lead product candidate being developed for
the treatment of high-risk non-muscle invasive bladder cancer
(NMIBC). Vicinium is comprised of a recombinant fusion protein that
targets epithelial cell adhesion molecule (EpCAM) antigens on the
surface of tumor cells to deliver a potent protein payload,
Pseudomonas Exotoxin A. Vicinium is constructed with a stable,
genetically engineered peptide tether to ensure the payload remains
attached until it is internalized by the cancer cell, which is
believed to decrease the risk of toxicity to healthy tissues,
thereby improving its safety. In prior clinical trials conducted by
Sesen Bio, EpCAM has been shown to be overexpressed in NMIBC cells
with minimal to no EpCAM expression observed on normal bladder
cells. Sesen Bio is currently conducting the Phase 3 VISTA trial,
designed to support the registration of Vicinium for the treatment
of high-risk NMIBC in patients who have previously received a
minimum of two courses of bacillus Calmette-Guérin (BCG) and whose
disease is now BCG-unresponsive. Additionally, Sesen Bio believes
that Vicinium’s cancer cell-killing properties promote an
anti-tumor immune response that may potentially combine well with
immuno-oncology drugs, such as checkpoint inhibitors. The activity
of Vicinium in BCG-unresponsive NMIBC is also being explored at the
US National Cancer Institute in combination with AstraZeneca’s
immune checkpoint inhibitor durvalumab.
About Sesen Bio Sesen Bio, Inc. is a late-stage clinical company
advancing targeted fusion protein therapeutics for the treatment of
patients with 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-risk, BCG-unresponsive
non-muscle invasive bladder cancer (NMIBC). Vicinium is a
locally-administered targeted fusion protein composed of an
anti-EPCAM antibody fragment tethered to a truncated form of
Pseudomonas Exotoxin A for the treatment of high-risk NMIBC. For
more information, please visit the company’s website at
www.sesenbio.com.
Cautionary Note on Forward-Looking Statements Any
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 safety and
efficacy of the Company’s product candidates, the timing of the
Company’s anticipated BLA submission, the potential approval and
commercialization of the Company’s product candidates and other
factors discussed in the “Risk Factors” section of the final
prospectus supplement and accompanying prospectus related to this
Offering and of the Company’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and other reports filed with the SEC. 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 may
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/20190826005622/en/
Erin Clark Vice President, Corporate Strategy & Investor
Relations ir@sesenbio.com
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