Oncorus Announces Appointment of Richard Wanstall as Chief Financial Officer

CAMBRIDGE, Mass., May 10, 2022 (GLOBE NEWSWIRE) -- Oncorus, Inc. (Nasdaq: ONCR), a viral immunotherapy company focused on driving innovation to transform outcomes for cancer patients, today announced the appointment of Richard Wanstall as Chief Financial Officer.

“We are pleased to welcome Rick as our Chief Financial Officer and we look forward to drawing from his notable experience leading biotech companies through significant organizational growth,” said Theodore (Ted) Ashburn, M.D., Ph.D., President and Chief Executive Officer of Oncorus. “Rick is a trusted colleague that I, as well as other members of the senior leadership team, have had the pleasure of working alongside in our previous roles. I am confident that his deep understanding of the biotech industry, specifically his expertise in life sciences corporate strategy and financing, will be a vital addition to Oncorus as our business matures. On behalf of the entire leadership team, we are excited to work with Rick to achieve our shared goal of meaningfully improving the current standard of care for cancer patients.”

“I’m excited to join the Oncorus team and to work in tandem with such a credentialed group of industry leaders to advance the company’s innovative HSV and selectively self-amplifying vRNA/LNP platform technologies,” said Mr. Wanstall. “Oncorus is at a critical time in its development with key data readouts from ONCR-177 expected later this year, ongoing IND-enabling studies for ONCR-021, a state-of-the art GMP manufacturing facility nearing completion and a cash runway into early 2024. Taken together, Oncorus is uniquely positioned to execute on their viral immunotherapeutic approach to cancer treatment, and I look forward to contributing my skillset to drive value for shareholders and bring this innovative technology to patients in need.”

Mr. Wanstall brings over 25 years of financial and operations experience to Oncorus. Most recently, he served as Chief Financial Officer and Treasurer for Aileron Therapeutics, where he was responsible for overseeing the company’s strategy, finance, investor relations, and operations activities. Prior to Aileron, Mr. Wanstall served as Vice President of Finance at Moderna Therapeutics and as Senior Vice President of Finance at Stream Global Services. Previously, Mr. Wanstall was Vice President of Finance at Art Technology Group, a Vice President at Taxware, and Director of Finance at CNET. He began his career in various financial roles at John Hancock, Fidelity Investments, and PricewaterhouseCoopers. Mr. Wanstall holds an M.B.A. from Babson College and a B.A. in Accounting from Salem State University.

About Oncorus

At Oncorus, we are focused on driving innovation to deliver next-generation viral immunotherapies to transform outcomes for cancer patients. We are advancing a portfolio of intratumorally (iTu) and intravenously (IV) administered viral immunotherapies for multiple indications with significant unmet need based on our Herpes Simplex Virus (HSV) and selectively self-amplifying viral RNA (vRNA) Immunotherapy Platforms.

Designed to deliver next-generation viral immunotherapy impact, our HSV Platform improves upon key characteristics of this therapeutic class to enhance systemic activity. Our lead HSV program, ONCR-177, is designed to be directly administered into a tumor, resulting in high local concentrations of the therapeutic agent and its five encoded transgenes, as well as low systemic exposure to the therapy, which could limit systemic toxicities. Our pioneering selectively self-amplifying vRNA Immunotherapy Platform, highlighted by our product candidates ONCR-021 and ONCR-788, involves a highly innovative, novel combination of RNA and oncolytic virus-based modalities designed to realize the potential of RNA medicines for cancer.

Please visit www.oncorus.com to learn more.

Cautionary Note Regarding 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 Oncorus’ near-term milestones, including data readouts from the ongoing clinical trial of ONCR-177, the planned IND submission for ONCR-021, the completion of Oncorus’ facility in Andover, Massachusetts and the Oncorus’ cash runway. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “expect,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. 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: Oncorus’ ability to successfully demonstrate the safety, tolerability and efficacy of ONCR-177, ONCR-021, ONCR-788 and ONCR-GBM and obtain regulatory approval thereof; the impact of COVID-19 on Oncorus’ operations and the timing and anticipated results of its ongoing and planned clinical trials; Oncorus’ ability to obtain the requisite components for its product candidates manufactured in accordance with regulatory requirements; Oncorus’ planned facility consolidation and the expansion of Oncorus’ in-house manufacturing capabilities; the adequacy of Oncorus’ existing capital resources and availability of financing on commercially reasonable terms; the accuracy of the Oncorus’ estimates regarding expenses, future revenue, capital requirements and needs for additional financing; and Oncorus’ ability to obtain, maintain and protect its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Oncorus’ Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission (SEC) on March 9, 2022, and Oncorus’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the SEC on May 4, 2022, as well as discussions of potential risks, uncertainties, and other important factors in the other filings that Oncorus makes with the SEC from time to time. These documents are available under the “SEC filings” page of the Investors section of Oncorus’ website at http://investors.oncorus.com. Any forward-looking statements represent Oncorus’ views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Oncorus explicitly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Investor Contact:
Stern Investor Relations
Julie Seidel

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