06.03.2024 13:01:06 - dpa-AFX: GNW-Adhoc: iTeos Appoints Oncology Veteran Jill DeSimone to Its Board of Directors
WATERTOWN, Mass. and GOSSELIES, Belgium, March 06, 2024 (GLOBE NEWSWIRE) --
iTeos Therapeutics, Inc. (Nasdaq: ITOS), a clinical-stage biopharmaceutical
company pioneering the discovery and development of a new generation of immuno-
oncology therapeutics for patients, today announced the appointment of Jill
DeSimone to its Board of Directors, effective March 7, 2024, where she will
serve on the Company's audit committee.
"Expanding our board with industry leaders and oncology veterans with
commercial, scientific, and corporate portfolio strategy experience is of the
utmost importance for iTeos. After the recent appointment of Servier's David
Lee, we are thrilled to welcome Jill DeSimone to our Board of Directors during
an important time in iTeos' evolution. Jill and David's unique insights will be
of tremendous value to our organization as we continue on our path to becoming a
late-stage biopharmaceutical company," said Michel Detheux, Ph.D., president and
chief executive officer of iTeos.
"By leveraging its comprehensive knowledge of tumor biology, iTeos has advanced
a portfolio of promising therapeutic candidates addressing key immunological
pathways involved in the development of cancer," said Ms. DeSimone. "I look
forward to working with the iTeos leadership team and offering my global
business and commercial insights to help the company achieve its goal of
bringing transformational therapies to patients living with cancer."
With over 40 years of global business expertise in life sciences, Ms. DeSimone
is recognized for her role as President of U.S. Oncology at Merck & Co., Inc.,
where she established the company's oncology division, growing it from less than
$500 million in annual revenue to $9 billion in eight years. Additionally, she
led three key product launches and more than 45 indication launches, including
Keytruda(®), the fastest growing product in the company's history. Prior to
joining Merck, Ms. DeSimone was Senior Vice President of Global Women's Health
at Teva Pharmaceutical Industries, Ltd. She began her career at Bristol Myers
Squibb and held roles of increasing responsibility culminating as the Senior
Vice President of U.S. Oncology, a role in which she helped launch the first
FDA-approved CTLA-4 immune checkpoint inhibitor, Yervoy(®). Ms. DeSimone
currently serves as a board member for Affini-T Therapeutics, Inc., Kinnate
Biopharma Inc., Oncternal Therapeutics, Inc., Praxis Precision Medicine, Inc.,
as well as the Florida Cancer Specialists Foundation, a nonprofit organization
that delivers non-medical aid for individuals undergoing treatment for cancer,
and Swim Across America, a foundation that awards grants to cancer research and
patient programs. She earned a B.S. in Pharmacy from Northeastern University and
completed a fellowship with the Wharton School of the University of
Pennsylvania.
About iTeos Therapeutics, Inc.
iTeos Therapeutics is a clinical-stage biopharmaceutical company pioneering the
discovery and development of a new generation of immuno-oncology therapeutics
for patients. iTeos Therapeutics leverages its deep understanding of tumor
immunology and immunosuppressive pathways to design novel product candidates
with the potential to restore the immune response against cancer. The Company's
innovative pipeline includes three clinical-stage programs targeting novel,
validated immuno-oncology pathways designed with optimized pharmacologic
properties for improved clinical outcomes, including the TIGIT/CD226 axis and
the adenosine pathway. iTeos Therapeutics is headquartered in Watertown, MA with
a research center in Gosselies, Belgium.
Internet Posting of Information
iTeos routinely posts information that may be important to investors in the
'Investors' section of its website at www.iteostherapeutics.com
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potential investors to consult our website regularly for important information
about iTeos.
Forward-Looking Statements
This press release contains forward-looking statements. Any statements that are
not solely statements of historical fact are forward-looking statements. Words
such as "believe," "anticipate," "plan," "expect," "will," "may," "intend,"
"prepare," "look," "potential," "possible" and similar expressions are intended
to identify forward-looking statements. These forward-looking statements include
statements relating to the potential benefits of product candidates; the value
our new board members bring to iTeos; and iTeos' path to becoming a late-stage
biopharmaceutical company.
These forward-looking statements involve risks and uncertainties, many of which
are beyond iTeos' control. Actual results could materially differ from those
stated or implied by these forward-looking statements as a result of such risks
and uncertainties. Known risk factors include the following: market conditions;
challenges and uncertainties inherent in product research and development and
manufacturing limitations; the data for our product candidates may not be
sufficient for obtaining regulatory approval to move into later stage trials or
to commercialize products; iTeos may not be able to execute on its business
plans, including meeting its expected or planned regulatory milestones and
timelines, research and clinical development plans, and bringing its product
candidates to market, for various reasons, some of which may be outside of
iTeos' control, including possible limitations of company financial and other
resources, manufacturing limitations that may not be anticipated or resolved for
in a timely manner, negative developments in the field of immuno-oncology, such
as adverse events or disappointing results, including in connection with
competitor therapies, and regulatory, court or agency decisions such as
decisions by the United States Patent and Trademark Office with respect to
patents that cover our product candidates; and those risks identified under the
heading "Risk Factors" in iTeos' Annual Report on Form 10-K for the year ended
December 31, 2023 filed with the Securities and Exchange Commission (SEC) as
well as other SEC filings made by the Company which you are encouraged to
review. Statements regarding the Company's cash runway do not indicate when or
if the Company may access the capital markets.
Any of the foregoing risks could materially and adversely affect iTeos'
business, results of operations and the trading price of iTeos' common stock. We
caution investors not to place considerable reliance on the forward-looking
statements contained in this press release. iTeos does not undertake any
obligation to publicly update its forward-looking statements other than as
required by law.
For further information, please contact:
Investor Contact:
Carl Mauch
iTeos Therapeutics, Inc.
carl.mauch@iteostherapeutics.com (mailto:carl.mauch@iteostherapeutics.com)
Media Contact:
media@iteostherapeutics.com
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