Black Diamond Therapeutics Announces CEO Transition
September 18 2023 - 7:00AM
Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), a clinical-stage
precision oncology company developing therapies that target
families of oncogenic mutations in patients with genetically
defined cancers, announced that current Chairman of the Board, Mark
Velleca, M.D., Ph.D., has been appointed as Chief Executive Officer
(CEO) effective immediately. Dr. Velleca succeeds Company CEO and
co-founder, David M. Epstein, Ph.D., who has stepped down and will
continue to serve on the Board of Directors of the Company.
“Since co-founding Black Diamond in 2016, I have had the
privilege of leading the Company from scientific inception through
clinical proof of concept, while building a talented drug discovery
and development team focused on providing cancer patients with
better treatment options,” said Dr. Epstein. “I am incredibly proud
of this team’s accomplishments and am pleased to pass the baton to
our Board Chair, Mark Velleca, as we transition to later stage
clinical development.”
“I am thrilled to join the Black Diamond team to build on its
solid foundation and advance the Company’s clinical stage programs,
BDTX-1535 and BDTX-4933. I look forward to leading the Company
through its next phase of growth, advancing our pipeline on a clear
commercial pathway, and creating value for our stakeholders,” said
Dr. Velleca. “On behalf of the entire Board of Directors, I would
like to sincerely thank David for his many contributions to Black
Diamond, and his commitment to exceptional science and to patients
in need.“
Dr. Velleca joined the Board of Directors of Black Diamond in
2021 and became Chairman of the Board in 2022. Prior to joining the
Black Diamond Board, Dr. Velleca served as CEO of G1 Therapeutics,
Inc. (Nasdaq: GTHX). At G1, he successfully led the company through
its initial public offering and the development of its first
therapy (COSELA®) from investigational new drug (IND) filing to
U.S. Food and Drug Administration (FDA) approval. Dr. Velleca
continues to serve as a Senior Advisor to and Board member of G1;
he is also the Executive Chair of Myeloid Therapeutics, Inc.
Earlier in his career, Dr. Velleca was a co-founder and Senior
Vice President of CGI Pharmaceuticals, Inc., where he managed the
company from its inception through clinical trials of multiple drug
candidates. After Gilead Sciences acquired CGI, he served as a
Senior Advisor to Gilead in R&D Strategy and Corporate
Development. Between CGI and G1, Dr. Velleca was Executive Vice
President and Chief Policy & Advocacy Officer of the Leukemia
and Lymphoma Society. Most recently, Dr. Velleca was CEO of
StrideBio, a gene therapy company, and a Venture Partner at
Hatteras Venture Partners.
Dr. Velleca began his career as an attending physician at Yale
New Haven Hospital and was on the faculty of the Yale University
School of Medicine. Dr. Velleca earned an M.D. and Ph.D. from
Washington University in St. Louis, and a B.S. from Yale
University.
About Black Diamond TherapeuticsBlack Diamond
Therapeutics is a clinical-stage precision oncology medicine
company focused on the development of therapies that target
families of oncogenic mutations in clinically validated targets.
Black Diamond leverages a deep understanding of cancer genetics and
onco-protein structure and function, to discover and develop
innovative therapies. The Company’s MasterKey therapies are
designed to overcome resistance, minimize on-target, wild-type
mediated toxicities, and be brain-penetrant to address significant
unmet medical needs of patients with genetically defined cancers.
The Company is advancing a robust pipeline with lead clinical-stage
program BDTX-1535, targeting MasterKey mutations in both EGFR
mutant-positive NSCLC and in GBM, and BDTX-4933, a program
targeting RAF MasterKey mutations in solid tumors. For more
information, please
visit www.blackdiamondtherapeutics.com.
Forward-Looking StatementsStatements contained
in this press release regarding matters that are not historical
facts are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such statements include, but are not
limited to, statements regarding: the anticipated success of the
management transition and the Company’s continued ability to
progress its pipeline. Any forward-looking statements in this
statement are based on management’s current expectations of future
events and are subject to a number of risks and uncertainties that
could cause actual results to differ materially and adversely from
those set forth in or implied by such forward-looking statements.
Risks that contribute to the uncertain nature of the
forward-looking statements include those risks and uncertainties
set forth in its Annual Report on Form 10-K for the year ended
December 31, 2022, filed with the United States Securities and
Exchange Commission and in its subsequent filings filed with the
United States Securities and Exchange Commission. All
forward-looking statements contained in this press release speak
only as of the date on which they were made. The Company undertakes
no obligation to update such statements to reflect events that
occur or circumstances that exist after the date on which they were
made.
ContactsFor Investors:Julie Seidel, Stern
Investor Relations(212) 362-1200investors@bdtx.com
For Media:Joan Bosisio, VSCmedia@bdtx.com
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