Immunomedics Appoints Dr. Loretta Itri Chief Medical Officer
February 14 2020 - 8:00AM
Immunomedics, Inc. (NASDAQ: IMMU)
(“Immunomedics” or the “Company”), a leading biopharmaceutical
company in the area of antibody-drug conjugates, today announced
the appointment of Loretta Itri, M.D. as chief medical officer
(CMO), effective today. In her new role, Dr. Itri will lead all
research and clinical development, regulatory, and medical affairs
activities of the Company. Dr. Itri is a well-established
pharmaceutical executive with decades of experience and a strong
track record of bringing innovative drugs to market for multiple
biopharma organizations.
“I am thrilled Loretta has agreed to join us as
our permanent CMO,” remarked Dr. Behzad Aghazadeh, executive
chairman. “Loretta has been working with us in overseeing our
clinical and regulatory activities since the Spring of 2019. She
has been an invaluable member of our leadership team, with
important contributions to the refiling of our Biologics License
Application for sacituzumab govitecan and accelerating our clinical
development programs into new indications. I look forward to
working closely with Loretta to invest in and expand our novel and
differentiated antibody-drug conjugate (ADC) platform assets for
the benefit of cancer patients worldwide.”
Dr. Itri commented, “It is my distinct pleasure
to formally join Immunomedics as CMO. I have had the great
opportunity of managing the Company’s sacituzumab govitecan
development activities across multiple indications over the past
year. The excitement from key opinion leaders and patients about
the drug’s potential clinical benefit has been palpable. Working
closely with the FDA, we are hopeful that sacituzumab govitecan
will soon be available to patients with triple-negative breast
cancer. I am especially looking forward to working closely
with the executive management team to expand our clinical
development plans across our unique ADC platform to advance
therapeutic options across hard-to-treat cancers, including
indications such as metastatic urothelial cancer and hormone
receptor-positive/human epidermal growth factor receptor 2-negative
metastatic breast cancer.”
Dr. Loretta Itri was most recently the executive
vice president of Global Health Sciences & Regulatory Affairs
at The Medicines Company where she oversaw the development and
regulatory approval of a variety of products, including the early
development of inclisiran, and other cardiovascular drugs and
antibiotics. Previously, she was president of Pharmaceutical
Development and CMO at Genta, Inc., playing a vital role in the
development of diverse therapeutic agents that helped treat
conditions such as breast cancer and chronic lymphocytic
leukemia.
Prior to that, Dr. Itri served as senior vice
president of Medical and Regulatory Affairs at Johnson &
Johnson’s Pharmaceutical Research Institute, where she oversaw the
development and approval of a number of therapeutic products,
including Procrit, Cladribine, and Tramadol. In addition, she
served as senior vice president of Clinical Affairs and CMO for
Ortho Biotech Inc., responsible for the hematology, oncology and
immunology product lines. Dr. Itri began her career at Hoffmann-La
Roche, where she advanced to the position of assistant vice
president of Clinical Development in immunology, virology,
hematology, and oncology.
Dr. Itri received her M.D. from New York Medical
College, completed her medical residency at SUNY-Stony Brook and
her fellowship in medical oncology at Memorial Sloan-Kettering
Cancer Center where she was an adjunct attending physician for
more than 15 years. Dr. Itri has served as a member of the National
Cancer Institute Board of Scientific Counselors in both the
Division of Cancer Treatment and the Division of Cancer Prevention
and Control. She is the author or co-author of numerous articles in
peer-reviewed journals, book chapters and abstracts related to the
clinical development of therapeutic agents.
About Immunomedics
Immunomedics is a clinical-stage
biopharmaceutical company developing monoclonal antibody-based
products for the targeted treatment of cancer. Immunomedics’
corporate objective is to become a fully-integrated
biopharmaceutical company and a leader in the field of
antibody-drug conjugates. For additional information on the
Company, please visit its website at https://immunomedics.com/. The
information on its website does not, however, form a part of this
press release.
Cautionary note regarding
forward-looking statements
This release, in addition to historical
information, may contain forward-looking statements made pursuant
to the Private Securities Litigation Reform Act of 1995. Such
statements, including statements regarding expectations for the
outcome of our resubmission of our Biologics License Application
("BLA") for sacituzumab govitecan for the treatment of patients
with metastatic triple-negative breast cancer ("mTNBC") who have
received at least two prior therapies for metastatic disease; the
United States Food and Drug Administration ("FDA") re-inspection of
the Company’s manufacturing facility where we manufacture the
monoclonal antibody for further manufacture into our
antibody-drug-conjugate candidate sacituzumab govitecan; potential
approval and commercial launch of sacituzumab govitecan for that
indication and the Company’s development of sacituzumab govitecan
for additional indications; clinical trials (including the funding
therefor, anticipated patient enrollment, trial outcomes, timing or
associated costs); regulatory applications and related timelines,
including the filing and approval timelines for BLAs, BLA
resubmissions, and BLA supplements; out-licensing arrangements;
forecasts of future operating results, potential collaborations,
capital raising activities, and the timing for bringing any product
candidate to market; our inability to further identify, develop and
achieve commercial success for new products and technologies; the
possibility of delays in the research and development necessary to
select drug development candidates and delays in clinical trials;
the risk that clinical trials may not result in marketable
products; the risk that we may be unable to obtain additional
capital through strategic collaborations, licensing, convertible
debt securities or equity financing in order to continue our
research and development programs as well as secure regulatory
approval of and market our drug candidates; our dependence upon
pharmaceutical and biotechnology collaborations; the levels and
timing of payments under our collaborative agreements;
uncertainties about our ability to obtain new corporate
collaborations and acquire new technologies on satisfactory terms,
if at all; the development of competing products; our ability to
protect our proprietary technologies; patent infringement claims;
and risks of new, changing and competitive technologies and
regulations in the United States and internationally, as well as
the risks discussed in the Company’s filings with the Securities
and Exchange Commission. The Company is not under any obligation,
and the Company expressly disclaims any obligation, to update or
alter any forward-looking statements, whether as a result of new
information, future events or otherwise.
For More Information:
Dr. Chau Cheng(862)
260-3727ccheng@immunomedics.com
For Media Inquiries:
Darren Opland, Ph.D.(646)
627-8387Darren@lifescipublicrelations.com
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