NEW
YORK, July 13, 2023 /PRNewswire/ -- Elevation
Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company
focused on the discovery and development of selective cancer
therapies to treat patients across a range of solid tumors with
significant unmet medical needs, announced today the appointment of
Joseph Ferra, M.B.A., as its Chief
Executive Officer. Mr. Ferra was previously Interim Chief Executive
Officer and Chief Financial Officer. Mr. Ferra will also join the
Elevation Oncology Board of Directors. In addition, the Company
announced the appointment of Tammy
Furlong, M.B.A., C.P.A., as Chief Financial Officer,
promoted from her previous role as Vice President of Finance and
Accounting.
"I am honored to formally take on the role of CEO at Elevation
Oncology and thrilled to lead the Company during this pivotal stage
as we initiate our Phase 1 clinical trial evaluating EO-3021 in the
U.S. this year," said Mr. Ferra. "The preclinical and clinical
data presented in recent months strengthen our conviction that
EO-3021 is a potential best-in-class antibody-drug conjugate for
treating patients whose solid tumors express Claudin 18.2. I look
forward to continuing our work and building on our successes as we
continue to drive growth and innovation in the field of selective
oncology therapies."
"I have had the pleasure to witness firsthand the passion and
dedication we bring to developing new therapies for patients in
need, and am excited for the opportunity to continue working
closely with our talented team in my new role," added Ms.
Furlong.
"We are delighted to appoint Joe and Tammy as CEO and CFO,
respectively, given the wealth of knowledge, experience and
leadership skills they bring," said Steve
Elms, Chairman of the Board of Directors of Elevation
Oncology. "This is an exceptionally exciting time for Elevation
Oncology as we drive EO-3021 toward the clinic to further
demonstrate its potential to target Claudin 18.2 and improve
clinical outcomes for patients. Joe and Tammy bring proven
records of achievement as biotechnology executives and the Board is
confident that they, along with the entire leadership team, have
the expertise, passion and commitment to drive the Company to
success."
Mr. Ferra has over 20 years of experience in financial,
strategic, and leadership roles in the biotechnology and
pharmaceutical industry. He previously served as Chief Financial
Officer of Syros Pharmaceuticals, leading and coordinating
financial and capital strategies and operational aspects for the
company. Prior, he spent over a decade working in biotechnology and
pharmaceutical investment banking, and he served as Managing
Director and Co-Head of Healthcare Investment Banking at JMP
Securities and was a member of the investment banking groups at JP
Morgan and UBS. In 2021, he became Chief Financial Officer of
Elevation and in January of 2023, he was appointed Interim Chief
Executive Officer. Mr. Ferra obtained a B.S. in Chemistry with
Distinction from Purdue University and
later completed his M.B.A. at The Stephen M. Ross School of
Business at the University of Michigan.
Ms. Furlong has extensive leadership experience in accounting,
financial reporting, information systems, financial transformation,
global strategy and management areas encompassing more than 20
years with Fortune 500 publicly traded companies. She has served as
the Vice President of Finance and Accounting at Elevation Oncology,
leading its financial and operational teams since 2021. Prior to
Elevation Oncology, she was a finance consultant where she focused
on capital raising, strategic transactions and finance operations
for multiple biotechnology and pharmaceutical companies. Ms.
Furlong received a B.S. in Accounting from Adelphi University, an M.B.A. from Bentley University, and a Graduate Certificate
in Project Management from the Boston
University Metropolitan College. She is also a
Certified Public Accountant licensed in Massachusetts and a Project Management
Professional with the Project Management Institute.
About Elevation Oncology, Inc.
Elevation Oncology is an innovative oncology company focused on
the discovery and development of selective cancer therapies to
treat patients across a range of solid tumors with significant
unmet medical needs. We are rethinking drug development by seeking
out innovative, selective cancer therapies that can be matched to a
patient's unique tumor characteristics. Our lead candidate,
EO-3021, is a potential best-in-class antibody-drug conjugate (ADC)
designed to target Claudin 18.2, a clinically validated molecular
target. EO-3021 selectively delivers a cytotoxic payload directly
to cancer cells expressing Claudin 18.2. We are working to rapidly
advance EO-3021 into the clinic in the
United States across a range of solid tumor indications, as
well as exploring other opportunities through new or existing
partnerships and business development opportunities to expand our
novel oncology pipeline. For more information,
visit www.ElevationOncology.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, anticipated clinical development activities, potential
benefits of Elevation Oncology's product candidates, potential
market opportunities for Elevation Oncology's product candidates,
and the ability of Elevation Oncology's product candidates to treat
their targeted indications. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These forward-looking statements may be accompanied by
such words as "aim," "anticipate," "believe," "could," "estimate,"
"expect," "forecast," "goal," "intend," "may," "might," "plan,"
"potential," "possible," "will," "would," and other words and terms
of similar meaning. Although Elevation Oncology believes that
the expectations reflected in such forward-looking statements are
reasonable, Elevation Oncology cannot guarantee future events,
results, actions, levels of activity, performance or achievements,
and the timing and results of biotechnology development and
potential regulatory approval are inherently uncertain.
Forward-looking statements are subject to risks and uncertainties
that may cause Elevation Oncology's actual activities or results to
differ significantly from those expressed in any forward-looking
statement, including risks and uncertainties related to Elevation
Oncology's ability to advance its product candidates, the timing
and results of preclinical studies and clinical trials, approvals
and commercialization of product candidates, the receipt and timing
of potential regulatory designations, the impact of the continued
presence of COVID-19 on Elevation Oncology's business, Elevation
Oncology's ability to fund development activities and achieve
development goals, Elevation Oncology's ability to protect
intellectual property, Elevation Oncology's ability to establish
and maintain collaborations with third parties, and other risks and
uncertainties described under the heading "Risk Factors" in
documents Elevation Oncology files from time to time with the
Securities and Exchange Commission. These forward-looking
statements speak only as of the date of this press release, and
Elevation Oncology undertakes no obligation to revise or update any
forward-looking statements to reflect events or circumstances after
the date hereof.
Elevation Oncology Investor and Media Contact
Candice Masse, 978-879-7273
Senior Director, Corporate Communications & Investor
Relations
cmasse@elevationoncology.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/elevation-oncology-appoints-joseph-ferra-as-chief-executive-officer-and-promotes-tammy-furlong-to-chief-financial-officer-301876175.html
SOURCE Elevation Oncology