Turning Point Therapeutics Names Former Celgene Chairman and CEO, Mark Alles, to Chair Its Board of Directors
SAN DIEGO, May 25, 2021 (GLOBE NEWSWIRE) -- 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 Statements
Statements 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.