Veteran Biotech Executive with Broad Oncology Perspective to
Lead Nuvalent Board as Company Advances its Pipeline of Precisely
Targeted Therapies
CAMBRIDGE, Mass., March 31,
2022 /PRNewswire/ -- Nuvalent, Inc. (Nasdaq:
NUVL), a clinical stage biopharmaceutical company creating
precisely targeted therapies for clinically proven kinase
targets in cancer, today announced the appointment of Anna
Protopapas, President and Chief Executive Officer of Mersana
Therapeutics, as Chair of its Board of Directors.
"I am excited to join the Nuvalent Board of Directors and have
been impressed by both the team's capital efficient advancement of
its two lead programs towards potential clinical proof of concept
and the strong potential to deliver meaningful value to patients,"
said Ms. Protopapas. "The Nuvalent team has demonstrated that it
can combine drug discovery expertise with a deep understanding of
medical needs to advance molecules that are differentiated in
meaningful ways for the potential benefit of patients. I anticipate
the portfolio will continue to grow and mature, and look forward to
working with the team towards the goal of building a sustainable
organization that can repeatedly discover, develop, and deliver
meaningful new therapies for patients with cancer."
Ms. Protopapas joined Mersana in March
2015 and has a substantial track record of executive
leadership and business growth in the field of oncology. Her broad
industry experience ranges from global development to commercial
expertise with a focus on building companies from start-ups to
leaders in their categories. She will assume the role of Board
Chair from Cameron Wheeler, Ph.D.,
Partner at Deerfield Management, who will remain on Nuvalent's
Board of Directors.
"I am proud to have worked closely with this talented team to
accelerate the formation and early growth of Nuvalent, and to help
drive its successful evolution into a public company," said Dr.
Wheeler. "With continued confidence in Nuvalent's approach and
long-term vision, we welcome Anna as incoming Board Chair to
further strengthen the team as we navigate the next phase of
Nuvalent's growth."
Nuvalent is currently enrolling patients in the Phase 1 portion
of its ARROS-1 study, a Phase 1/2 clinical trial evaluating its
lead candidate NVL-520, a ROS1-selective inhibitor, in patients
with advanced ROS1-positive non-small cell lung cancer (NSCLC) and
other solid tumors. In addition, Nuvalent recently announced
clearance of its Investigational New Drug application for its
parallel lead candidate NVL-655, an ALK-selective inhibitor. The
company expects to initiate the Phase 1 portion of the Phase 1/2
ALKOVE-1 study for advanced ALK-positive NSCLC and other solid
tumors in the second quarter of 2022. NVL-520 and NVL-655 are
designed with the aim to address the clinical challenges of
emergent treatment resistance, CNS adverse events, and brain
metastases that may limit the use of currently available kinase
inhibitors.
"On behalf of the Nuvalent team, I thank Cam and the
Deerfield team for their continued
support and strategic guidance. We are fortunate to build on the
strong foundation they have helped to establish as we transition
Anna into the role of Board Chair," said James Porter, Ph.D., Chief Executive Officer at
Nuvalent. "Anna has made a tremendous impact on the field of
oncology therapeutics and brings with her a stellar reputation of
guiding and growing companies. I welcome her experience and
guidance to Nuvalent as we continue advancing our mission of
delivering precisely targeted therapies for patients with
cancer."
Prior to Mersana, Ms. Protopapas was President of Millennium
Pharmaceuticals, a wholly owned subsidiary of Takeda
Pharmaceuticals Company Limited, where she led Takeda's oncology
business. Ms. Protopapas also served as Executive Vice President of
Global Business Development at Takeda, was a member of the
company's executive committee, and served as a corporate officer.
Earlier, Ms. Protopapas was an executive officer at Millennium and
served in various senior leadership positions, playing an integral
role in the company's transformation from a genomics start-up to a
fully integrated oncology leader.
Ms. Protopapas has proven leadership in building and growing
biotechnology companies, previously serving on the Board of
Directors for ARIAD Pharmaceuticals, Bioverativ and Dicerna
Pharmaceuticals. She earned her B.S. in Science and Engineering
from Princeton University, M.S. in
Chemical Engineering Practice from the Massachusetts Institute of Technology, and M.B.A.
from Stanford Graduate School of Business.
About Nuvalent
Nuvalent, Inc. (Nasdaq: NUVL) is a
biopharmaceutical company focused on
creating precisely targeted therapies for patients
with cancer, designed to overcome the limitations of existing
therapies for clinically proven kinase targets. Leveraging deep
expertise in chemistry and structure-based drug design, we develop
innovative small molecules that have the potential to overcome
resistance, minimize adverse events, address brain metastases, and
drive more durable responses. Nuvalent is advancing a robust
pipeline with parallel lead programs in ROS1-positive and
ALK-positive non-small cell lung cancer (NSCLC), along with
multiple discovery-stage research programs. We routinely post
information that may be important to investors on our website
at www.nuvalent.com. Follow us on Twitter (@nuvalent)
and LinkedIn.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, as amended, including,
without limitation, implied and express statements regarding
Nuvalent's strategy, business plans, and focus; the clinical
development programs for NVL-520, NVL-655 and the timing thereof;
the potential clinical effect of NVL-520 and NVL-655; the design
and enrollment of the ARROS-1 study and the timing thereof; the
design and initiation of the ALKOVE-1 Phase 1/2 study and the
timing thereof; the potential of Nuvalent's pipeline programs,
including NVL-520 and NVL-655; Nuvalent's research and development
programs for the treatment of cancer; risks and uncertainties
associated with drug development; capital allocation; Nuvalent's
future financial and operating results and its expectations related
thereto; and the expected benefits from the appointment to the
Nuvalent Board of Directors of Ms. Protopapas. The words "may,"
"might," "will," "could," "would," "should," "expect," "plan,"
"anticipate," "aim," "goal," "intend," "believe," "expect,"
"estimate," "seek," "predict," "future," "project," "potential,"
"continue," "target" or the negative of these terms and similar
words or expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Drug development and commercialization
involve a high degree of risk, and only a small number of research
and development programs result in commercialization of a product.
You should not place undue reliance on these statements or the
scientific data presented.
Any forward-looking statements in this press release are based
on management's current expectations and beliefs and are subject to
a number of risks, uncertainties, and important factors that may
cause actual events or results to differ materially from those
expressed or implied by any forward-looking statements contained in
this press release, including, without limitation, risks associated
with: risks that Nuvalent may not fully enroll the ARROS-1 study or
it will take longer than expected; unexpected concerns that may
arise from additional data, analysis, or results obtained during
clinical trials; the occurrence of adverse safety events; risks of
unexpected costs, delays, or other unexpected hurdles; the impact
of COVID-19 on countries or regions in which Nuvalent has
operations or does business, as well as on the timing and
anticipated timing and results of its clinical trials, strategy,
and future operations, including the global ARROS-1 study and the
planned initiation of the ALKOVE-1 Phase 1/2 study; the timing and
outcome of Nuvalent's planned interactions with regulatory
authorities; and obtaining, maintaining, and protecting its
intellectual property. These and other risks and uncertainties are
described in greater detail in the section entitled "Risk Factors"
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2021, as well as any
subsequent filings with the Securities and Exchange Commission. In
addition, any forward-looking statements represent Nuvalent's views
only as of today and should not be relied upon as representing its
views as of any subsequent date. Nuvalent explicitly disclaims any
obligation to update any forward-looking statements
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SOURCE Nuvalent, Inc.