STOCKHOLM — June 30, 2020 — Oncopeptides AB (publ) (“Oncopeptides”) (Nasdaq Stockholm: ONCO) announces that the Board of Directors has appointed Marty J Duvall as Chief Executive Officer, CEO. Marty J Duvall replaces Jakob Lindberg who has been CEO since the restart of the company in 2011. Jakob Lindberg assumes the role as Chief Scientific Officer, CSO, replacing MD Christian Jacques who has held the position as CSO since 2018. Christian will continue as a Senior Advisor.
Marty J Duvall brings extensive global commercialization skills from executive leadership roles in pharma and biotech including unique experience from the oncology and hematology space. Most recently as the CEO of Tocagen Inc.
“The submission of the New Drug Application to the FDA, which was announced earlier today, marks an important inflection point for Oncopeptides. As we embark on the next phase of our journey, I am very happy to announce that Jakob will continue his dedicated scientific engagement in Oncopeptides as CSO and that we have been able to attract an industry leader like Marty as CEO in Oncopeptides AB (publ)”, says Per Wold-Olsen, Chairman of Oncopeptides. “Marty will lead the transformation of Oncopeptides into a fully-fledged integrated global biotech company, headquartered in Stockholm, Sweden.
“I am excited to join Oncopeptides to lead the company through its next phase and engage in the commercialization of melflufen”, says Marty J Duvall, “I am impressed by Oncopeptides’ strong scientific platform and our compelling phase 2 data. With melflufen, I strongly believe that we have the potential to add significant value to patients with multiple myeloma who in many cases lack treatment options”.
“I am thrilled to get the opportunity to dedicate my time to exploit the potential of our unique PDC-platform and drive the scientific agenda beyond melflufen”, says Jakob Lindberg, outgoing CEO of Oncopeptides. “Our technology platform is truly exciting; it enables us to broaden the indications and provide new drug candidates that will be instrumental for the long-term growth of Oncopeptides”.
These leadership changes will be effective as of 1 July 2020.
The information in the press release is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person above, on June 30, 2020 at 17.45 (CET).
Melflufen (INN melphalan flufenamide) is a first-in-class aminopeptidase-targeting peptide-drug conjugate that rapidly delivers an alkylating payload into tumor cells. Melflufen is rapidly taken up by myeloma cells due to its high lipophilicity and is immediately hydrolyzed by peptidases to deliver an entrapped hydrophilic alkylator payload. Peptidases play a key role in protein homeostasis and feature in cellular processes such as cell-cycle progression and programmed cell death. In vitro, melflufen is 50-fold more potent in myeloma cells than the alkylator payload itself due to the increased intracellular alkylator concentration. Melflufen displays cytotoxic activity against myeloma cell lines resistant to other treatments, including alkylators, and has also demonstrated inhibition of DNA repair induction and angiogenesis in preclinical studies.
Oncopeptides is a pharmaceutical company focused on the development of targeted therapies for difficult-to-treat hematological diseases. The company is focusing on the development of the lead product candidate melflufen, a first-in-class aminopeptidase-targeting peptide-drug conjugate that rapidly delivers an alkylating payload into tumor cells. Melflufen is in development as a new treatment for the hematological malignancy multiple myeloma and is currently being tested in multiple clinical studies including the pivotal phase 2 HORIZON study and the ongoing phase 3 OCEAN study. Oncopeptides’ headquarters is in Stockholm, Sweden with its U.S. headquarters in Boston, Mass. The company is listed in the Mid Cap segment on Nasdaq Stockholm with the ticker ONCO.
More information is available on www.oncopeptides.com.