Oncoceutics Promotes Lee Schalop, MD, To Chief Operating Officer

Philadelphia, PA (November 22, 2016) – Oncoceutics, Inc. announced today the promotion of Lee Schalop, MD, to Chief Operating Officer. Dr. Schalop, who is co-founder and previously served as the company’s Chief Business Officer, will continue to serve as a member of the leadership team of Oncoceutics and as a member of the Board of Directors.

"Lee has been a key member of our leadership team whose entrepreneurial passion was critical in overcoming the many challenges that a start-up biotech company has to master to shepherd its programs from discovery to a promising clinical development stage”, said Wolfgang Oster, MD, PhD, Chief Executive Officer and Chairman of the Board of Directors of Oncoceutics. “From the inception of the company, Lee has worked relentlessly towards realizing Oncoceutics' vision of developing a new therapeutic paradigm for oncology. The decision of the Board to award Lee with the promotion to Chief Operating Officer is well deserved.”

About Oncoceutics

Oncoceutics, Inc. is a clinical-stage drug discovery and development company with a novel class of compounds that selectively target G protein-coupled receptors for oncology. The first lead compound to result from this program is ONC201, an orally active DRD2 small molecule antagonist that is well-tolerated and effective against advanced cancers. The company recently completed a successful Phase I study in solid tumors and has begun additional Phase I/II and Phase II clinical programs in both solid and hematological malignancies. Oncoceutics and collaborative groups have received more than $7 million in grants over the last two years, including grants from the National Cancer Institute, the U.S. Food and Drug Administration, the Pennsylvania Department of Health, and The Musella Foundation. In addition, outside interest in the company’s portfolio has resulted in several R&D alliance agreements between Oncoceutics and leading comprehensive cancer centers, including The University of Texas MD Anderson Cancer Center and the Fox Chase Cancer Center. The company has established a robust intellectual property position, including several issued patents.

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