Turning Point Therapeutics Names Former Celgene Chairman and CEO, Mark Alles, to Chair Its Board of Directors
May 25 2021 - 8:00AM
Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a precision
oncology company developing next-generation therapies that target
genetic drivers of cancer, today announced the appointment of
former Celgene chairman and CEO, Mark Alles, to chair its board of
directors. Garry Nicholson, who is currently the interim chair,
will remain on the board.
Mr. Alles is an accomplished biopharmaceutical executive who led
successful global oncology-focused organizations over his more than
three-decade career, which includes driving growth and innovation
during 15 years at Celgene until its $74-billion acquisition by
Bristol Myers Squibb in 2019.
President and CEO Athena Countouriotis, M.D., said: “Mark’s
background, knowledge and experience align perfectly with our focus
in oncology, the stage of our clinical assets and our aspirations
for continued growth. On behalf of the entire board, we look
forward to having Mark’s leadership as we focus on the advancement
of our clinical stage drug candidates, build a pipeline for the
future and move our lead asset closer to registration.”
Mr. Alles brings deep operational, financial, business
development and commercial experience to the Turning Point board.
He led the expansion of Celgene from a U.S. based organization with
less than 500 employees to a global company serving patients in
more than 50 countries with 8,800 employees. Prior to being named
chair in 2018 and CEO in 2016, Mr. Alles served as Celgene
president and chief operating officer, executive vice president and
Global Head of Hematology & Oncology and chief commercial
officer. Before joining Celgene in 2004, he was vice president of
the U.S. Oncology business unit at Aventis Pharmaceuticals where he
also served in other senior management roles during an 11-year
period. He began his career in the biopharmaceutical industry at
Bayer and worked at Centocor before its acquisition by Johnson
& Johnson.
“This is an exciting time to join the Turning Point board, as
the company plans for potential registration and commercialization
of repotrectinib, advances a growing pipeline and makes investments
to build upon the strong foundation it has established over the
past two years since the IPO,” said Mr. Alles. “I look forward to
working closely with such a distinguished board and management
team.”
Mr. Alles is a member of the board of directors for Antengene
Corporation and Syros Pharmaceuticals. He is a former board member
of the Pharmaceutical Research and Manufacturers of America
(PhRMA), the European Federation of Pharmaceutical Industries and
Associations (EFPIA) and the Biotechnology Innovation Organization
(BIO).
About Turning Point Therapeutics Inc.Turning
Point Therapeutics is a clinical-stage precision oncology
company with a pipeline of internally discovered investigational
drugs designed to address key limitations of existing cancer
therapies. The company’s lead drug candidate, repotrectinib, is a
next-generation kinase inhibitor targeting the ROS1 and TRK
oncogenic drivers of non-small cell lung cancer and advanced solid
tumors. Repotrectinib, which is being studied in a registrational
Phase 2 study in adults and a Phase 1/2 study in pediatric
patients, has shown antitumor activity and durable responses among
kinase inhibitor treatment-naïve and pre-treated patients. The
company’s pipeline of drug candidates also includes TPX-0022,
targeting MET, CSF1R and SRC, which is being studied in a Phase 1
trial of patients with advanced or metastatic solid tumors
harboring genetic alterations in MET; TPX-0046, targeting RET,
which is being studied in a Phase 1/2 trial of patients with
advanced or metastatic solid tumors harboring genetic alterations
in RET; and TPX-0131, a next-generation ALK inhibitor, which is
being studied in a Phase 1/2 trial of previously treated patients
with ALK-positive advanced or metastatic non-small cell lung
cancer. Turning Point’s next-generation kinase inhibitors are
designed to bind to their targets with greater precision and
affinity than existing therapies, with a novel, compact structure
that has demonstrated an ability to potentially overcome treatment
resistance common with other kinase inhibitors. The company is
driven to develop therapies that mark a turning point for patients
in their cancer treatment. For more information, visit
www.tptherapeutics.com.
Forward Looking StatementsStatements contained
in this press release regarding matters that are not historical
facts are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements regarding Turning Point Therapeutics’ plans for
continued development, potential registration and commercialization
of its product candidates. Because such statements are subject to
risks and uncertainties, actual results may differ materially from
those expressed or implied by such forward-looking statements.
Words such as “plans”, “will”, “believes,” “anticipates,”
“expects,” “intends,” “goal,” “potential” and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements are based upon Turning Point
Therapeutics’ current expectations and involve assumptions that may
never materialize or may prove to be incorrect. Actual results
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties, which include, without limitation, risks and
uncertainties associated with Turning Point Therapeutics’ business
in general, risks and uncertainties related to the impact of the
COVID-19 pandemic to Turning Point’s business and the other risks
described in Turning Point Therapeutics’ filings with the SEC. All
forward-looking statements contained in this press release speak
only as of the date on which they were made. Turning Point
Therapeutics undertakes no obligation to update such statements to
reflect events that occur or circumstances that exist after the
date on which they were made.
Contact:Jim
Mazzolajim.mazzola@tptherapeutics.com858-342-8272
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