BOULDER, Colo. and
CAMBRIDGE, Mass., April 6, 2021 /PRNewswire/ -- Cogent
Biosciences, Inc. (Nasdaq: COGT), a biotechnology company
focused on developing precision therapies for genetically defined
diseases, today announced the formation of the Cogent Research Team
led by newly appointed Chief Scientific Officer, John Robinson, PhD.
"Today marks an important step forward for Cogent Biosciences as
we announce the formation of the Cogent Research Team with a focus
on discovering and developing new small molecule therapies for
patients fighting rare, genetically driven diseases," said
Andrew Robbins, President and Chief
Executive Officer of Cogent Biosciences. "I am thrilled to welcome
John onboard as Cogent Biosciences' Chief Scientific Officer.
John's expertise and seasoned leadership make him ideally suited to
lead this new team of world class scientists. Given the team's
impressive experience and accomplishments, we are excited for
Cogent Biosciences' future and the opportunity to expand our
pipeline and deliver novel precision therapies for patients."
With an exceptional track record of innovation, the Cogent
Research Team will focus on pioneering best-in-class, small
molecule therapeutics to both improve upon existing drugs with
clear limitations, as well as create new breakthroughs for diseases
where others have been unable to find solutions. The Cogent
Research Team is based in Boulder,
Colorado.
"I am excited to join Cogent Biosciences and create a new center
of excellence for small molecule discovery and development in the
greater Boulder/Denver community," said John Robinson, PhD, Chief Scientific Officer of
Cogent Biosciences. "With strong support from Andy and the Cogent
Board, I am confident we can build upon our already impressive team
of scientists to create a portfolio of new medicines which can
bring hope to patients in need."
John joins the Cogent Biosciences team from Pfizer where he most
recently served as Vice President, Medicinal Chemistry. For more
than 15 years prior to his time at Pfizer, John was a senior member
of the Array BioPharma scientific leadership team, a group
responsible for developing over 25 Investigational New Drug (IND)
applications including five U.S. Food and Drug Administration (FDA)
approved medicines: MEKTOVI® (binimetinib),
TUKYSA® (tucatinib), VITRAKVI®
(larotrectinib), Retevmo™ (selpercatinib) and Koselugo™
(selumetinib). John holds a BS from Indiana
University of Pennsylvania and a PhD from the University of Delaware. Learn more about the Cogent
Research Team on our website at
https://www.cogentbio.com/research/.
Cogent announces the formation of the Cogent Research Team with
its lead program, CGT9486, on track with three late-stage clinical
trials beginning in 2021, including Advanced Systemic Mastocytosis
(1H21), Non-Advanced Systemic Mastocytosis (2H21) and
Gastrointestinal Stromal Tumors (2H21). Cogent has a strong
existing cash position to support the company's goals into
2024.
About Cogent Biosciences, Inc.
Cogent Biosciences is
a biotechnology company focused on developing precision therapies
for genetically defined diseases. The most advanced clinical
program, CGT9486, is a selective tyrosine kinase inhibitor that is
designed to potently inhibit the KIT D816V mutation as well as
other mutations in KIT exon 17. KIT D816V is responsible for
driving systemic mastocytosis, a serious disease caused by
unchecked proliferation of mast cells. Exon 17 mutations are also
found in patients with advanced gastrointestinal stromal tumors
(GIST), a type of cancer with strong dependence on oncogenic KIT
signaling. Cogent Biosciences is based in Cambridge, MA and Boulder, Co. Visit our website for more
information at www.cogentbio.com. Follow Cogent Biosciences on
social media: Twitter and LinkedIn.
Notice of Inducement Grants
Pursuant to his employment
agreement, Dr. John Robinson has
been awarded non-qualified stock options to purchase an aggregate
of 500,000 shares of our common stock subject to time-based
vesting. Additionally, pursuant to their employment agreements,
seven other newly hired employees have been awarded non-qualified
stock options to purchase an aggregate of 660,200 shares of its
common stock subject to time-based vesting. The inducement grants
have an exercise price equal to the closing price of Cogent
Biosciences' common stock on the date of commencement of
employment, respectively. The inducement grants have been approved
by the Compensation Committee of the Board of Directors. The
inducement grants will be issued outside of the Company's
stockholder-approved equity incentive plans as an inducement grant
in accordance with Nasdaq Listing Rule 5635(c)(4).
Forward Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding: discussion of the company's
business and operations; projected cash runways; future product
development plans; upcoming results from clinical trials including
from its lead program, CGT9486 and future research development
plans. The use of words such as, but not limited to, "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "might," "plan," "potential," "predict," "project,"
"should," "target," "will," or "would" and similar words
expressions are intended to identify forward-looking statements.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based on our
current beliefs, expectations and assumptions regarding the future
of our business, future plans and strategies, our clinical results
and other future conditions. New risks and uncertainties may emerge
from time to time, and it is not possible to predict all risks and
uncertainties. No representations or warranties (expressed or
implied) are made about the accuracy of any such forward-looking
statements. We may not actually achieve the forecasts disclosed in
our forward-looking statements, and you should not place undue
reliance on our forward-looking statements. Such forward-looking
statements are subject to a number of material risks and
uncertainties including but not limited to those set forth under
the caption "Risk Factors" in Cogent Biosciences' most recent
Annual Report on Form 10-K filed with the SEC, as well as
discussions of potential risks, uncertainties, and other important
factors in our subsequent filings with the SEC. Any forward-looking
statement speaks only as of the date on which it was made. Neither
we, nor our affiliates, advisors or representatives, undertake any
obligation to publicly update or revise any forward-looking
statement, whether as result of new information, future events or
otherwise, except as required by law. These forward-looking
statements should not be relied upon as representing our views as
of any date subsequent to the date hereof.
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SOURCE Cogent Biosciences, Inc.