On May 7, 2018 ORIC Pharmaceuticals, a clinical-stage oncology company focused on discovery and development of novel therapies against treatment-resistant cancers, reported the appointment of Jacob Chacko, MD, as Chief Executive Officer (Press release, ORIC Pharmaceuticals, MAY 7, 2018, View Source [SID1234526843]). Rich Heyman, PhD, who has been serving as the interim CEO, will become Chairman of the ORIC Board of Directors. The current Chairman, Peter Svennilson, will remain on the board.
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"Rich has been a key part of the ORIC story, and has ably led the company, including recently raising a new round of funding and advancing the pipeline, said Peter Svennilson, member of the board and outgoing Chairman. "The board is pleased that he will continue to guide the Company as a strategic partner for Jacob and the executive team."
"We are thrilled to welcome Jacob as the new CEO of ORIC," said Rich Heyman, incoming Chairman. "The board determined that Jacob’s broad experience in the healthcare industry, combined with his strategic expertise and previous success at Ignyta and TPG Capital, ideally position him to be a great partner to the board and management as we work to bring better therapies to patients with cancer."
"I am honored by the opportunity the board has extended to me, and am looking forward to working with the board and management to lead ORIC in its next phase of growth," said Jacob Chacko. "I have been impressed by the ongoing engagement of ORIC’s successful founders and the clinical expertise and scientific rigor of the team. I look forward to progressing our lead candidate, ORIC-101, and the other pipeline assets as we address the significant clinical challenge of therapy resistance."
Dr. Chacko was most recently CFO of Ignyta, a NASDAQ-listed precision oncology company acquired by Roche in February 2018. At Ignyta, he had a broad operational role and helped raise over $500 million in capital. During his tenure, the company grew from fewer than 20 employees and a $50 million enterprise value to 125 employees and a $1.7 billion enterprise value at the time of acquisition. Prior to Ignyta, Dr. Chacko was an investor at TPG Capital, where he helped lead teams that completed acquisitions having an aggregate value of over $10 billion. He has served on the board of directors of RentPath and EnvisionRx and was a board observer to Par Pharmaceutical, IMS Health and Quintiles Transnational. He previously served on the board of the Packard Children’s Health Alliance at the Lucile Packard Children’s Hospital Stanford.
Dr. Chacko concurrently received his M.D. from UCLA and his M.B.A. from Harvard Business School. Prior to that, he was a consultant serving healthcare clients at McKinsey & Company and received a M.Sc. from Oxford University as a Marshall Scholar. He currently serves on the board of directors of Bonti and AROG Pharmaceuticals and chairs the Western Regional Selection Committee for the Marshall Scholarship.