Kolltan Pharmaceuticals Inc. Expands Company's Board Of Directors

NEW HAVEN, Conn., April 16, 2014 /PRNewswire/ -- Kolltan Pharmaceuticals, a privately held biopharmaceutical company focused on the development of novel biologics targeting receptor tyrosine kinases, today announced the election of Dr. Daniel R. Vlock to the Company's Board of Directors. In addition, William S. Slattery will join the Board of Directors as an observer representing Deerfield Management, which participated in the Company's recent Series D financing round.

"Dr. Vlock brings to Kolltan extensive experience as a medical oncologist and director of successful cancer drug development programs," commented Jerry McMahon, Ph.D., President and Chief Executive Officer of Kolltan. "I anticipate his insight will be critical as Kolltan further advances its clinical and late-stage preclinical pipeline of promising product candidates. In addition, Mr. Slattery's successful investment career and knowledge of the biotech markets will be of great value to the Board."

Kolltan Co-Founders Arthur G. Altschul, Jr. (Chairman of Kolltan's Board of Directors), and Dr. Joseph Schlessinger (Chairman of Kolltan's Scientific Advisory Board) stated, "We welcome the strong additions of Dr. Vlock as Director and Mr. Slattery as observer to Kolltan's Board of Directors. These additions support Kolltan's commitment to effective leadership and corporate governance. We look forward to working with both Dr. Vlock and Mr. Slattery as we continue our mission to build value across the Company's pipeline."

Dr. Vlock is founder and CEO of Alopexx Enterprises, LLC, a healthcare company focused on investing and developing preclinical and early clinical compounds. He is also CEO of Alopexx Pharmaceuticals, which developed a human monoclonal antibody directed against S. aureus. That antibody has completed a Phase 1 clinical trial and was licensed to Sanofi-Aventis. Dr. Vlock has held senior-level medical and research positions at Ariad Pharmaceuticals, GPC Biotech, Inc., and Pharmacia Corporation, where he ran the Celebrex Oncology Group and was responsible for this compound becoming the first drug approved for cancer prevention. Prior to this, Dr. Vlock also held leadership positions at Ethicon Endo-Surgery (a subsidiary of Johnson & Johnson Company), and Boehringer Ingelheim Pharmaceuticals, Inc., where he was involved in the development of numerous oncology drugs, medical devices and drug-device combinations. Prior to moving to industry, he was on the faculty at Harvard Medical School, University of Pittsburgh School of Medicine and Yale University School of Medicine. Dr. Vlock received his A.B. degree from Cornell University and his M.D. degree from Baylor College of Medicine.

Mr. Slattery is a Partner at Deerfield, which he joined in 2000. He began his professional career studying immune system complications associated with End Stage Renal Disease. Prior to joining Deerfield, he was a senior healthcare analyst between 1990 and 2000 at Amerindo Investment Advisors overseeing biotechnology investments. He has held various positions in basic research. Mr. Slattery has a degree in Biology and Chemistry from State University of New York at Albany and completed coursework in Immunology at the Graduate School-New Brunswick, Rutgers University.

About Kolltan Pharmaceuticals

Kolltan, a privately held clinical-stage company, is focused on advancing a new generation of therapeutics in oncology and other diseases by discovering and developing novel biologic agents designed to modulate the function of receptor tyrosine kinases (RTKs). Kolltan is led by an experienced team of executives and scientists with a deep understanding of RTKs, their ligands, and cellular signaling. Located adjacent to the Yale Medical School in New Haven, Connecticut, Kolltan is working in close collaboration with the laboratory of Kolltan co-founder, Dr. Joseph Schlessinger, as well as the Yale medical and scientific community to bring important medicines to cancer patients and other patients with serious diseases. The Company's R&D pipeline is advancing rapidly, with the first clinical trial initiated in January 2014.

Forward-Looking Statements

Any statements in this news release about future expectations, plans and prospects for Kolltan constitute forward-looking statements. Forward-looking statements in this news release include statements regarding the initiation and conduct of Kolltan's clinical trials and the use of proceeds from Kolltan's Series D financing. Actual results may differ materially from those indicated by such forward-looking statements. Kolltan anticipates that subsequent events and developments may cause its views to change. However, while Kolltan may elect to update these forward-looking statements in the future, Kolltan specifically disclaims any obligation to do so.

For more information about Kolltan Pharmaceuticals, please visit www.kolltan.com.

Contacts

Media Inquiries:
Burns McClellan, Justin Jackson
212-213-0006
jjackson@burnsmc.com

Investor Inquiries:
Kolltan Pharmaceuticals, Inc.
203-907-0951

SOURCE Kolltan Pharmaceuticals