Scopus BioPharma Announces New Management Appointment Following Acquisition of Leading Immunotherapy Company
July 12 2021 - 8:30AM
Scopus BioPharma Inc. (Nasdaq:
“SCPS”), a clinical-stage biopharmaceutical company
developing transformational therapeutics for serious diseases with
significant unmet medical needs, today announced a new management
appointment following its acquisition of Olimmune Inc., a leading
immunotherapy company. Alan Horsager, Ph.D., President and Chief
Executive of Olimmune, was appointed President of Scopus with
responsibility for overseeing the development of the Company’s
rapidly expanding immuno-oncology pipeline.
Joshua R. Lamstein, Chairman of Scopus, stated,
“We are excited to add Dr. Horsager to Scopus’ leadership team. Dr.
Horsager has an impressive background as both a scientist and
biotech entrepreneur. The combination of the immuno-oncology assets
of Scopus and Olimmune creates one of the leading global portfolios
of bifunctional STAT3 inhibitors for the treatment of multiple
cancers. We have great confidence in Dr. Horsager’s ability to
integrate these assets into a single, seamless pipeline.”
Dr. Horsager previously served as the Director
of LA BioSpace at Cal State LA, the university’s initiative to
promote bioscience venture creation in Los Angeles. Previously, Dr.
Horsager co-founded and served as a senior executive of two
biotechnology companies and also served as a Research Assistant
Professor at the University of Southern California. Dr. Horsager
received his B.A. from the University of Washington and his Ph.D.
in Neuroscience from the University of Southern California.
Dr. Horsager stated, “The combined
immuno-oncology portfolio is comprised of STAT3siRNA, STAT3ASO and
STAT3decoy. These assets are comprehensive and highly
complementary. Inhibiting STAT3 is frequently characterized as the
holy grail of treating and curing cancer. Overseeing the
integration and development of these assets is an extraordinary
opportunity.”
Mr. Lamstein added, “Large pharmaceutical
companies, venture capitalists and the capital markets are placing
premium valuations on companies with promising programs targeting
STAT3. Our approach, highly cell-selective STAT3 inhibition
combined with TLR9 immunostimulation, is highly distinguishable
with compelling advantages over other approaches. We believe Dr.
Horsager will play an important role in increasing awareness of our
competitive advantages and unique value proposition. This, we
believe, will drive a significant near-term increase in shareholder
value.”
In his new role, Dr. Horsager assumes certain
responsibilities of Ashish P. Sanghrajka.
About Scopus BioPharma
Scopus BioPharma Inc. is a clinical-stage
biopharmaceutical company developing transformational therapeutics
for serious diseases with significant unmet medical needs. The
company’s lead drug candidate is a novel, targeted immuno-oncology
RNA therapy for the treatment of multiple cancers. This drug
candidate is highly distinctive, encompassing both RNA therapy and
immunotherapy by synthetically linking siRNA to an oligonucleotide
TLR9 agonist, creating the potential for targeted gene silencing
with simultaneous TLR stimulation and immune activation in the
tumor microenvironment. The company’s STAT3-targeting immunotherapy
pipeline also includes bifunctional antisense and decoy therapies.
Also, the company is developing additional drug candidates to treat
other serious diseases with significant unmet medical needs.
Receive updates by following Scopus BioPharma on Twitter here.
Forward-Looking Statements
This press release may include forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks (including those
set forth in the company’s Form 10-K for the fiscal year ended
December 31, 2020, as amended, filed with the U.S. Securities and
Exchange Commission (“SEC”)) and uncertainties which could cause
actual results to differ from the forward-looking statements. The
company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the company’s
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
Investors should realize that if our underlying assumptions for the
projections contained herein prove inaccurate or that known or
unknown risks or uncertainties materialize, actual results could
vary materially from our expectations and projections.
Contacts
Rodd Leeds/David WaldmanCrescendo
Communications, LLCTel: (212) 671-1020Email:
SCPS@crescendo-ir.com
Hugh Burns/Delia Cannan/Nicholas Leasure
ReevemarkTel: (212) 433-4600Email: scopus@reevemark.com
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