On May 10, 2022 Calithera Biosciences, Inc. (Nasdaq: CALA), a clinical-stage, precision-oncology biopharmaceutical company, reported its financial results for the first quarter ended March 31, 2022 (Press release, Calithera Biosciences, MAY 10, 2022, View Source [SID1234614075]).

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"We made significant headway in the transfer of mivavotinib and sapanisertib materials to Calithera during the first quarter and are well into site start-up activities. We are on track to begin enrolling patients in both mivavotinib and sapanisertib trials in the second quarter of 2022 and expect to share data from these studies by the first quarter of 2023," said Susan Molineaux, PhD, president and chief executive officer of Calithera. "We are also excited about our preclinical synthetic lethality program, having presented the first data from our internally-discovered, first-of-their-kind VPS4A inhibitors at the AACR (Free AACR Whitepaper) Annual Meeting. This year has shaped up to be an exciting one for Calithera, given the potential we see in both our clinical and preclinical programs."

First Quarter 2022 and Recent Highlights

Mivavotinib (SYK inhibitor): Based on clinical data showing enhanced activity of mivavotinib in activated B-cell-like (ABC) diffuse large B-cell lymphoma (DLBCL) and preclinical data demonstrating enhanced SYK activity and inhibition in DLBCL with MyD88/CD79 mutations, Calithera designed a phase 2 trial of mivavotinib in relapsed or refractory non-GCB (ABC) DLBCL with enrichment of MYD88/CD79b-mutated tumors using liquid next-generation sequencing (NGS) testing. The phase 2a portion of the study will confirm activity in the biomarker-defined subsets and further refine dose and schedule. The trial will enroll non-GCB (ABC) DLBCL patients based on Hans algorithm, and researchers will collect MyD88 and CD79 mutation status using ctDNA-based liquid NGS to accrue a pre-specified number of patients harboring MyD88 or CD79b mutations. Approximately 50% of all ABC DLBCL tumors have one or both of these mutations. Calithera anticipates the first patient enrolled in the second quarter of 2022. Data generated from this study could position the company to initiate a study with registrational intent in biomarker-specific populations in DLBCL.

Sapanisertib (Dual mTORC 1/2 inhibitor): In a recent investigator-led study, sapanisertib demonstrated durable single-agent activity in patients with heavily pretreated NRF2 (NFE2L2)-mutated squamous non-small cell lung cancer (NSCLC). These mutations occur in approximately 15% of patients with squamous NSCLC. Calithera is initiating a phase 2 study intended to strengthen the existing data in patients with NRF2-mutated squamous NSCLC and evaluate its activity in NRF2 wildtype (WT) squamous NSCLC. Sapanisertib has the potential to be a first-in-class treatment for individuals with NRF2-mutated squamous NSCLC, a patient population with poorer prognosis, unmet clinical need, and no targeted therapies. Sapanisertib could also be a possible treatment for other NRF2-mutated cancers beyond NSCLC. Calithera anticipates the first patient enrolled in this study in the second quarter of 2022.

Presented data on its novel series of VPS4A inhibitors. Calithera presented the first data from its preclinical synthetic lethality pipeline at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) 2022 Annual Meeting. The presented poster detailed Calithera’s discovery of a novel series of VPS4A (vacuolar protein sorting-associated protein 4A) inhibitors that are currently advancing through lead optimization. These data validate the synthetic lethal interaction between the gene paralogs VPS4A and VPS4B, and we believe, provide the first preclinical evidence supporting a newly discovered series of compounds designed to target these proteins for cancer treatment. To our knowledge, these are the first active, on-target VPS4 inhibitors described to date.
Closed a $10.0 Million Underwritten Public Offering of Common Stock and Warrants to Purchase Common Stock. On April 1, 2022, Calithera closed an underwritten public offering of 18,518,519 shares of its common stock at a combined price to the public of $0.54 per share and accompanying warrants. Each share of common stock is accompanied by a warrant to purchase one share of common stock at an exercise price of $0.54 per share, which is immediately exercisable and will expire 18 months from the date of issuance, or a short-term warrant, and a warrant to purchase one share of common stock at an exercise price of $0.54 per share, which is immediately exercisable and will expire 5 years from the date of issuance, or a long-term warrant. Calithera received gross proceeds of $10.0 million, resulting in $8.5 million of net proceeds after deducting underwriting discounts and commissions and offering expenses.
Selected First Quarter 2022 Financial Results

Cash and cash equivalents totaled $44.7 million at March 31, 2022, which Calithera expects, together with proceeds from its public offering, will be sufficient to meet its operating plan through the second quarter of 2023.

Research and development expenses for the first quarter 2022 were $9.6 million, compared to $15.3 million in the same period prior year. The decrease of $5.8 million was primarily due to a decrease in the telaglenastat program, partially offset by increases in the sapanisertib and mivavotinib programs.

General and administrative expenses for the first quarter 2022 were $4.3 million, compared to $5.4 million in the same period prior year. The decrease of $1.2 million was primarily due to decreases in personnel-related costs.

Net loss for the three months ended March 31, 2022 was $13.8 million.

Conference Call Information

Calithera will host an update conference call today, Tuesday, May 10, at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time. The call may be accessed by dialing (855) 783-2599 (domestic) or (631) 485-4877 (international) and referring to conference ID 4979639. To access the live audio webcast or the subsequent archived recording, visit the Investors section of the Calithera website at www.calithera.com. The webcast will be recorded and available for replay on Calithera’s website for 30 days.

On May 10, 2022 Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, reported a corporate and financial update for the first quarter ended March 31, 2022 (Press release, Athenex, MAY 10, 2022, View Source [SID1234614091]).

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"Our focus for 2022 continues to be on transforming Athenex into a robust, well-positioned cell therapy company with a solid balance sheet. We are proud of the progress we have made since announcing our strategic pivot and remain committed to delivering on cutting operating expenses and executing on additional monetization of noncore assets," said Johnson Lau, Chief Executive Officer of Athenex. "Our cell therapy programs continue to generate exciting data, which we are looking forward to presenting throughout the year. We believe our NKT cell therapy platform will be the main driver of future growth and will position us to be a differentiated leader in cell therapy space. Our corporate initiatives continue to set us up for successful value creation and allow us to further execute on our ultimate mission of bringing innovative treatments to cancer patients."

Corporate Developments

Business Updates

Lowered operating expenses in the first quarter of 2022 by 34% versus the prior year period, with additional cost-cutting underway
APD/APS division delivered four new product launches and generated 42% growth in product revenues during the first quarter of 2022 versus the prior year period
Plan to monetize non-core assets to support development of cell therapy pipeline
Key Anticipated Milestones

Oral presentation of interim analysis of Phase 1 GINAKIT2 study of KUR-501, our autologous GD2 CAR NKT program in pediatric relapsed/refractory high-risk neuroblastoma, at the American Society of Gene & Cell Therapy (ASGCT) (Free ASGCT Whitepaper) annual meeting on May 16, 2022 at 2:30 p.m. ET
Online presentation of KUR-503 preclinical data, our allogeneic GPC3 CAR-NKT cell program in liver cancer, at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) on June 3-7, 2022
Multi-center expansion of CD19 CAR-NKT ANCHOR study of KUR-502 permitted under the newly allowed IND
Data update from ANCHOR study evaluating allogeneic CD19 CAR NKT therapy KUR-502 at American Society of Hematology (ASH) (Free ASH Whitepaper) expected in December 2022
Regulatory interactions with MHRA for Oral Paclitaxel in advanced breast cancer in UK
Phase 2 data from I-SPY 2 trial of Oral Paclitaxel in combination with dostarlimab in neoadjuvant breast cancer expected in 2H 2022
IND filing for KUR-503, our allogeneic CAR-NKT program in liver cancer planned in 2023
First Quarter 2022 and Recent Business Highlights

Clinical Programs

Cell Therapy

Presented interim analysis from ANCHOR study of KUR-502 at the American Society of Transplantation and Cellular Therapy (ASTCT). Reported 60% ORR and 6-month CR rate of 40% in five patients of the NHL cohort, including 1 ongoing CR at 34 weeks. Allogeneic CD19 CAR-NKT cells well tolerated with no cases of cytokine release syndrome (CRS) in the NHL cohort, no immune effector cell-associated neurotoxicity syndrome (ICANS) and no graft versus host disease (GvHD)
Upcoming presentation of abstract from interim analysis of Phase 1 GINAKIT2 study of KUR-501, an autologous GD2 CAR-NKT cell therapy for relapsed/refractory high risk neuroblastoma at ASGCT (Free ASGCT Whitepaper). Data presented shows dose response at low doses of 1×108 cells/m2, including a durable complete response persisting 12 months. Analysis of results found that response correlates with CD62L+ NKT frequency as well as CAR-NKT area under the curve (AUC). Treatment remains well-tolerated with no dose-limiting toxicity, no ICANS, and one case of grade 2 CRS.
Commercial Update

Klisyri (tirbanibulin)

Commercial partner Almirall reported 3.6% market share in the U.S.
Klisyri was granted Medicare coverage and now has 40% coverage
Uptake remains strong in German market, and pre-launch activities in place to support the continued rollout in Europe
American Academy of Dermatology guidelines for the management of actinic keratosis included Klisyri receiving the strongest recommendation
Specialty Pharmaceutical Business

Athenex Pharmaceutical Division (APD) currently markets a total of 29 products with 54 SKUs.
Athenex Pharma Solutions (APS) currently markets 6 products with 16 SKUs
First Quarter 2022 Financial Highlights

Revenues from product sales increased to $29.0 million for the three months ended March 31, 2022, from $20.4 million for the three months ended March 31, 2021, an increase of $8.6 million or 42%. This increase was primarily attributable to an increase in APD specialty product sales, which increased by $9.5 million as the result of increases in shortage product sales and product launches during 2022.

License fees and other revenue for three months ended March 31, 2022 was $0.8 million, compared to $20.7 million for the same period in 2021, a decrease of $19.9 million. This decrease was primarily due to the recognition of $20.0 million of license revenue pursuant to the 2017 Almirall License Agreement upon the launch of Klisyri in the U.S. during the three months ended March 31, 2021.

Cost of sales for the three months ended March 31, 2022 totaled $23.3 million, an increase of $6.9 million, or 42%, as compared to $16.4 million for the three months ended March 31, 2021. The increase in our cost of specialty product sales was primarily due to an increase in cost of APD and 503B product sales, of $5.7 million and $2.5 million, respectively. These were partially offset by a $1.3 million decrease in cost of API product sales.

R&D expenses totaled $14.0 million for the three months ended March 31, 2022, a decrease of $9.1 million, or 39%, as compared to $23.1 million for the three months ended March 31, 2021. This decrease was primarily due to a decrease in Oral Paclitaxel product development and medical affairs costs, costs of clinical and regulatory operations, and costs of preclinical operations.

SG&A expenses totaled $14.9 million for the three months ended March 31, 2022, a decrease of 28% as compared to $20.7 million for the three months ended March 31, 2021. The decrease was primarily due to a $6.7 million decrease of costs for preparing to commercialize Oral Paclitaxel as significant pre-launch activities occurred in 2020, partially offset by a $1.3 million increase in operating costs.

Interest income and interest expense totaled $0.1 million and $4.5 million, respectively, for the three months ended March 31, 2022. Interest income and interest expense for three months ended March 31, 2021 totaled less than $0.1 million and $4.9 million, respectively. Interest expense in both periods was incurred from the Senior Credit Agreement with Oaktree.

Income tax expense for the three months ended March 31, 2022 amounted to less than $0.1 million, compared to $0.2 million for the same period in 2021. We did not record a provision for U.S. federal income taxes for the three months ended March 31, 2022, because we expect to generate a loss for the year ending December 31, 2022.

Net loss attributable to Athenex for the three months ended March 31, 2022 was $17.4 million, or ($0.16) per diluted share, as compared to a net loss of $25.1 million, or ($0.27) per diluted share, for the same period in 2021.

For further details on the Company’s financial results, including the results for the three months ended March 31, 2022, refer to the Form 10Q filed with the SEC.

2022 Financial Guidance

Athenex now expects product sales growth to be in the range of 20-25% over the prior year period, versus the prior range of 15-20% growth, year-over-year, due to the strong performance of Athenex’s APD/APS division, earlier than expected NY State license, and the robust pipeline of launches planned for the remainder of 2022.

Cash Conservation Update

As of March 31, 2022, the Company had cash and cash equivalents of $27.2 million, restricted cash of $13.8 million, and short-term investments of $10.2 million, for a total of $51.2 million. The Company is implementing cost savings programs and monetizing non-core assets, and as the Company completes such activities, the Company plans to extend its cash runway into next year.

Conference Call and Webcast Information

Athenex will host a conference call and live audio webcast today, Tuesday, May 10, 2022, at 8:00 a.m. Eastern Time to discuss the financial results and provide a business update.

To participate in the call, dial either the domestic or international number fifteen minutes before the conference call begins:

The live conference call and replay can also be accessed via audio webcast here and on the Investor Relations section of the Company’s website under "Events and Presentations", located at View Source

On May 10, 2022 Neogene Therapeutics, Inc., a global biotechnology company focused on discovering, developing, and manufacturing novel, transformative TCR therapies targeting neoantigens in solid cancers, reported the approval of the company’s first Clinical Trial Application (CTA) by the Dutch regulatory authority for a Phase 1 study of NT-125, an autologous, fully-individualized, multi-specific TCR therapy for the treatment of advanced solid tumors (Press release, Neogene Therapeutics, MAY 10, 2022, View Source [SID1234614107]). The Phase 1 study will enroll adult patients with various types of advanced solid tumors in partnership with the Netherlands Cancer Institute (NKI), an internationally acclaimed research institute and leading cancer clinic.

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This authorization and transition to a clinical-stage company marks a significant milestone for Neogene and reinforces our ambition to make an impact on patients with advanced solid cancers with a novel, fully-individualized therapy," said Carsten Linnemann, Ph.D., President, Chief Executive Officer, and Co-Founder of Neogene. "At this new stage of growth, we remain focused on advancing our unique pipeline of fully-individualized and shared neoantigen TCR therapies with the goal of changing the paradigm of solid cancer treatment."

NT-125 is an investigational, autologous, fully-individualized, multi-specific TCR therapy targeting neoantigens for the treatment of advanced solid tumors. NT-125 is designed to contain up to five distinct neoantigen-specific TCRs per patient in a single cell product of highly functional engineered T cells, allowing multiple neoantigens presented by HLA class I and HLA class II molecules to be targeted with the goal to create a more impactful TCR therapy for more patients. NT-125 aims to reduce the probability of antigen escape and potentially maximize the depth and durability of clinical responses in a patient population with difficult to treat tumors and high unmet need.

"Patients with recurrent and metastatic solid tumors currently have a high unmet need and limited effective treatment options. We look forward to evaluating the safety and clinical activity of NT-125 as a potential new treatment option for this patient population," said Dr. Raphael Rousseau, M.D., Ph.D., Chief Medical Officer of Neogene. "Neogene’s approach to T cell therapy allows us to develop a fully-individualized treatment with a unique set of up to five specific TCR genes for each patient that may overcome the current limitations of cell therapies for solid cancers."

On May 10, 2022 Transgene (Euronext Paris: TNG), a biotech company that designs and develops virus-based immunotherapies for the treatment of cancer, reported its business update for the quarter ended March 31, 2022 (Press release, Transgene, MAY 10, 2022, View Source [SID1234614123]).

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Over the first quarter of 2022, all of Transgene’s preclinical and clinical assets progressed in line with expectations. All clinical-stage immunotherapies are slated to deliver data by the end of the year.

Key events of the period and upcoming news flow

TG4050

At the American Association for Cancer Research (AACR) (Free AACR Whitepaper) 2022 annual meeting, held in New Orleans, LA, April 8-13, Transgene discussed new preliminary positive data on TG4050, its individualized cancer vaccine. These immunological and clinical data highlight the potential of this highly innovative neoantigen vaccine.

A poster on the progress of the two ongoing Phase I trials of TG4050 has been accepted for presentation at the upcoming American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) annual meeting, taking place in Chicago, IL, June 3-7, 2022. More information will be provided on May 27, 2022, after the release of the abstracts by ASCO (Free ASCO Whitepaper).

An article on the two ongoing trials with TG4050 was also published in the Journal for ImmunoTherapy of Cancer [[1]]. The publication demonstrated that it is possible to develop a patient specific vaccine within a few weeks for patients with a low to moderate tumor mutational burden.

BT-001

Promising preclinical data with BT-001 were presented at AACR (Free AACR Whitepaper) 2022 and published in the Journal for ImmunoTherapy of Cancer [[2]] demonstrating the broad and robust antitumor activity of this Invir.IO oncolytic virus.

Transgene and BioInvent will provide an update on the progress of the clinical trial of BT-001 in Q2 2022. Initial Phase I results will be presented at a scientific conference in H2 2022. These first results aim to establish the tolerability of BT-001 and to determine the dose and administration schedule for further development.

Invir.IO collaboration with PersonGen BioTherapeutics

Transgene announced the launch of a preclinical collaboration with PersonGen BioTherapeutics. This collaboration aims to evaluate the feasibility and efficacy of a combination therapy against solid tumors, combining PersonGen’s CAR-T cell injection with an oncolytic virus from the Invir.IO platform.

Governance

Transgene plans to reinforce its corporate governance by separating the roles of Chairman and CEO. Transgene’s Board of Directors has proposed Dr. Alessandro Riva, MD, as the Non-executive Chairman of the Company. If this nomination is accepted at the upcoming General Shareholder Meeting (May 25, 2022), the roles of Chairman and CEO will be separated. With 30 years of experience in the Life Sciences industry, Dr. Riva will be working closely with Transgene’s CEO Hedi Ben Brahim to realize the potential of the Company’s technology platforms and products to benefit cancer patients.

Transgene’s Board of Directors also proposed the appointment of Prof. Jean‑Yves Blay (subject to the authorization of the public authority to which he reports) and Laurence Espinasse as directors.

Steven Bloom joined Transgene as Vice President, Chief Business Officer (CBO). In this position, he has become a member of the executive committee, leading global business development strategy, alliance management and program management. In particular, he is focused on building the profile of Transgene in the US, where he is based, as part of establishing the Company as a world leader in virus-based immunotherapies.

Transgene also announced that the date of the release of the first half 2022 financial results and of the interim report has been advanced to September 7, 2022.

Summary of key ongoing clinical trials and expected milestones

myvac

TG4050

Phase I

NCT03839524

Targets: tumor neoantigens

ü Codeveloped with NEC

ü New positive data in first patients demonstrating the immunogenicity of the vaccine as well as first signs of clinical activity presented at AACR (Free AACR Whitepaper) 2022

Ü Additional data on the 2 trials expected at ASCO (Free ASCO Whitepaper) (June 2022) and H2 2022

Ovarian cancer – after surgery and first-line chemotherapy

ü Trial ongoing in the USA and in France

ü Patient enrollment progressing in line with forecast

TG4050

Phase I

NCT04183166

HPV-negative head and neck cancer – after surgery and adjuvant therapy

ü Trial ongoing in the UK and in France

ü Patient enrollment progressing in line with forecast

TG4001

+ avelumab
Phase II

NCT03260023

Targets: HPV16 E6 and E7 oncoproteins

Recurrent/metastatic anogenital HPV-positive – 1st (patients ineligible for chemotherapy) and 2nd lines

ü Randomized Phase II trial comparing the combination of TG4001 with avelumab versus avelumab alone

ü Active patient enrollment in Europe (France and Spain), trial initiated in the USA

Ü Results of the interim analysis expected in Q4 2022 (N≈50)

Invir.IO

BT-001

Phase I/IIa

NCT04725331

Payload: anti-CTLA4 antibody and GM-CSF cytokine

Solid tumors

ü Co-development with BioInvent

ü Very encouraging preclinical results presented at AACR (Free AACR Whitepaper) 2022

ü Trial ongoing in France, Belgium and approved in the USA

Ü Update on clinical trial expected in Q2 2022

Ü First Phase I clinical results to be presented at a scientific congress in H2 2022

TG6002

Phase I/IIa

NCT03724071

Payload: FCU1 for the local production of a 5-FU chemotherapy

Gastro-intestinal cancer (colorectal cancer for Phase II) – Intravenous (IV) administration

ü Multicenter trial ongoing in Belgium, France and Spain

ü Proof-of-concept data of the IV administration presented in 2021 (ESMO & AACR (Free AACR Whitepaper))

ü Dose escalation completed to the maximum projected dose (3×109 pfu), confirming the good safety profile. Assessment of this intensified administration schedule ongoing

Ü End of Phase I expected mid-2022

TG6002

Phase I/IIa

NCT04194034

Colorectal cancer with liver metastasis – Intrahepatic artery (IHA) administration

ü Multicenter trial ongoing in the UK and in France

ü Ongoing enrollment of patients from the latest dose escalation cohort (109 pfu)

Ü First data expected mid-2022

During the first quarter of 2022, revenue from collaborative and licensing agreements was mainly composed of revenue from the collaboration with AstraZeneca.

As of March 31, 2022, government financing for research expenditures mainly consisted of accrual of 25% of the research tax credit expected for 2022 (€1.7 million in the first quarter of 2022 compared to €1.5 million for the same period in 2021).

Cash, cash equivalents and other financial assets

Cash, cash equivalents and other financial assets stood at €46.8 million as of March 31, 2022, compared to €49.6 million as of December 31, 2021. In the first quarter of 2022, Transgene’s net cash burn was €2.8 million, compared to €7.2 million for the same period in 2021. This decrease is notably linked to the receipt in January 2022 of the $8 million payment from AstraZeneca following the exercise of a first license option in December 2021 for an oncolytic virus developed by Transgene.

The Company holds shares of Tasly BioPharmaceuticals valued at €18.9 million at the end of December 2021.

The Company has a financial visibility through the end of 2023.

On May 10, 2022 Boston Pharmaceuticals, a clinical stage biopharmaceutical company, reported the appointment of Dr. Sophie Kornowski as Chair of its Board of Directors and Acting Chief Executive Officer, effective immediately (Press release, Boston Pharmaceuticals, MAY 10, 2022, View Source [SID1234614139]). Dr. Kornowski succeeds interim Co-CEOs Dr. Joanne T. Beck and Dr. Craig T. Basson, who will continue in their positions as Chief Operations Officer and Chief Medical Officer, respectively. Since 2018, Sophie Kornowski has been a partner at Gurnet Point Capital, a private investment firm focused on the healthcare sector. In this role, she has worked closely with the Boston Pharmaceuticals team for several years, as a member of the Board of Directors and, at the request of the Board, has recently supported Corporate Development efforts.

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"We are very pleased that Sophie has accepted our invitation to lead Boston Pharmaceuticals into the next phase of its growth trajectory, which includes continued expansion and progress of the pipeline, and the development of a strategy for long-term evolution," said Stefan Meister, the current Chairman of Boston Pharmaceuticals and Vice Chairman of the B-Flexion investment group, which owns the company. "Boston Pharmaceuticals, greatly inspired by our legacy in innovative pharma and biotech, is an important investment for B-Flexion and we look forward to Sophie leading the company into its next phase of growth."

Sophie Kornowski said: "I have worked closely with the Boston Pharmaceuticals team for several years, and it is a great honor to expand my role at this exciting time for the company. Along with the rest of the board and management team, my focus will be upon building the company’s successful history of in-licensing differentiated molecules and developing them in a focused and nimble fashion. I am looking forward to leveraging the firm’s strong organizational capability, diverse pipeline and existing and future financial backing to build a sustainable, best-in-class growth biotech that will provide medicines for many patients in need of new options."

In her position at Gurnet Point Capital, Dr. Kornowski has been a successful investor in several innovative start-ups and high growth businesses that have products in the clinic or commercializing, in diseases such as Attention Deficit Disorder Hyperactivity, Cancer and Food Allergy.

Prior to joining Gurnet Point Capital, she was Executive Vice-President of Roche Partnering and member of the Extended Corporate Executive Committee of F. Hoffmann-La Roche AG, one of the world’s largest healthcare companies, and board member of Chugai Pharmaceuticals. In that role, working closely with R&D and Commercial teams at Roche and Genentech, she was responsible for the Partnering and the M&A strategy with Biotechs, Pharma, HealthTech and Research Institutions worldwide for Roche. Previously, Dr. Kornowski had led the largest affiliate of F. Hoffmann-La Roche outside of the US, based in France for many years. Earlier in her career, she held several leadership commercial roles across geographies in leading innovative pharmaceutical and diagnostic companies in France, Israel and the US. Dr. Kornowski holds an MBA from the University of Chicago Booth and a Doctorate in Pharmacy from Paris Descartes University.