VelosBio, Inc.

Dr. Kariuki brings a wealth of experience in ADCs, across corporate strategy, finance and operations Advancement of Pheon's differentiated ADC pipeline, accelerating first program, PHN-010, into clinical development this year LONDON, Sept. 10, 2024 /PRNewswire/ -- Pheon Therapeutics (Pheon), a leading Antibody-Drug Conjugate (ADC) specialist developing next generation ADCs for a wide range of hard-to-treat cancers, today announces the appointment of accomplished biotech executive, Enoch Kariuki, Pharm.D., to its Board of Directors as an independent, non-executive director. Dr. Kariuki possesses extensive strategic, operational, and financial life sciences experience. He most recently served as the Chief Executive Officer of Lengo Therapeutics, which was acquired by Blueprint Medicines. Prior to Lengo Therapeutics, he served as the Chief Financial Officer of VelosBio, which was acquired by Merck, where he led all finance-related and investor relations functions. Prior to that, he was Senior Vice President, Corporate Development at Synthorx, which was acquired by Sanofi. In addition, Dr. Kariuki previously served as Board Director and Audit Chair of Imago Biosciences which was acquired by Merck, and ProfoundBio which was acquired by Genmab. Cyrus Mozayeni, MD, Chief Executive Officer of Pheon, said: "Dr. Kariuki joins Pheon at a pivotal stage of growth, as we advance into clinical development with PHN-010, our lead ADC program targeting patients with advanced solid tumors. His decision to join Pheon's board reflects his belief in our innovative pipeline and our team's track record in targeted oncology therapies and ADCs. Dr. Kariuki brings a wealth of executive leadership experience and knowledge in ADCs, which further strengthens our board as we transition into a clinical stage company and beyond." Dr. Kariuki's appointment follows the completion of a $120m Series B financing round earlier this year to advance Pheon's three first-in-class ADC assets through clinical proof of concept. The company's first program, PHN-010, will enter Phase 1 clinical trials in 2024, targeting an undisclosed novel target which is overexpressed in a wide range of solid tumors. Enoch Kariuki, Pharm.D., newly appointed Board Member of Pheon, commented: "There have been tremendous advances in the evolving field of ADCs and through my previous experience in advising and investing in life sciences companies, I have become familiar with Pheon's innovative work. I am excited to contribute to Pheon's development of next generation ADCs and to help advance these transformative therapies for the benefit of patients in need." Dr. Kariuki currently serves on the board of Zentalis Pharmaceuticals and is President of Endeavor BioMedicines. Earlier in his career, Dr. Kariuki was Vice President at H.I.G. Capital, a private equity firm managing over $60 billion in assets, where he invested in and served on the boards of multiple life sciences companies. His other previous positions include Senior Associate at Leerink Partners and Associate Director at UBS Investment Bank, where he advised healthcare companies on equity capital financings, mergers and acquisitions, leveraged buyouts, and recapitalizations. Dr. Kariuki completed a Post-Doctoral Fellowship in R&D Strategy and Analytics at Bristol-Myers Squibb and was a Pharmacist at CVS Caremark. He holds an MBA from the Tuck School of Business at Dartmouth College and a PharmD from Texas Southern University. About Pheon Therapeutics Pheon Therapeutics is an Antibody Drug Conjugate (ADC) specialist developing a pipeline of ADCs, based on novel targets and novel linker payloads, to treat solid tumors. Pheon's lead program is a first-in-class ADC program against a novel target that is highly overexpressed in solid tumors across a broad range of hard-to-treat cancer types. Pheon is backed by expert, specialist healthcare investors TCGX, Atlas Venture, BVF Partners, Brandon Capital, Forbion, Lightspeed Venture Partners (Lightspeed), Perceptive Advisors, and Research Corporation Technologies. Pheon has a world class, proven leadership team that brings together the best of ADC engineering, clinical and managerial expertise, and track record. For further information, please visit SOURCE Pheon Therapeutics WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

STRO-003 will become the first antibody-drug conjugate in Ipsen’s collection, and the company will focus on getting the candidate into the clinic. Ipsen has become the newest entrant in the antibody-drug conjugate (ADC) race, handing over around $90 million in near-term payments to Sutro Biopharma in return for the global rights to a preclinical candidate. The asset in question, dubbed STRO-003, targets the receptor tyrosine kinase-like orphan receptor 1 (ROR1) tumor antigen. ROR1 is overexpressed in various cancers—including solid tumors and blood cancers—and the target is also being chased by the likes of Boehringer Ingelheim and Merck & Co. STRO-003 will become the first ADC in Ipsen’s armory, and the French company said the focus will be on getting the candidate into the clinic. The deal is worth around $900 million in combined upfront, development, regulatory and commercial milestone payments and an equity investment in Sutro. As a result, Ipsen will take on responsibility for preparing STRO-003 for phase 1 trials and beyond. “The potential for ADCs in oncology is well-documented and we are excited by the addition of STRO-003, Ipsen’s first ADC candidate with best-in-class potential,” Mary Jane Hinrichs, senior vice president and head of early development at Ipsen, said in an April 2 release. “STRO-003 is a next-generation ROR1 ADC, leveraging Sutro’s site-specific technology to generate a highly stable conjugate, coupled with exatecan payloads, that have shown significant potential in solid tumors,” Hinrichs added. Capitalizing on Ipsen's interest, Sutro announced plans this morning to bring in $75 million from an underwritten offering of 14.4 million shares of its common stock. Ipsen isn’t the only biopharma that’s spotted potential in ROR1. The target was at the center of Boehringer Ingelheim’s $1.5 billion acquisition of NBE-Therapeutics back in 2020, the same year that Merck bought VelosBio for $2.8 billion for a ROR1 ADC. In 2022, Astellas also bought into Sutro’s vision, handing over $90 million upfront to the South San Francisco-based biotech for the rights to three immunostimulatory ADCs, a modality designed to combine the best features of ADCs and personalized vaccine biology. The ADC race heated back up toward the end of last year, with everyone from GSK to Eli Lilly and Bristol Myers Squibb fronting serious cash to pad out their pipelines over the space of a few months.

SAN DIEGO--(BUSINESS WIRE)-- Endeavor BioMedicines, a clinical-stage biotechnology company developing medicines with the potential to deliver transformational clinical benefits to patients with life-threatening diseases, today announced the appointment of Enoch Kariuki, Pharm.D. as President and Vishaal Turakhia as Chief Financial Officer (CFO). Both Dr. Kariuki and Mr. Turakhia are established life sciences executives with extensive strategic, operational, and financial experience. This press release features multimedia. View the full release here: Enoch Kariuki, Pharm.D. (Photo: Business Wire) “We’re preparing for an important year ahead at Endeavor BioMedicines and I’m delighted that both Enoch and Vishaal are joining the company,” said John Hood, Ph.D., Co-founder, CEO and Chairman, Endeavor BioMedicines. "Enoch and Vishaal both have an outstanding track record of corporate development, operating and financial leadership that will be invaluable as we continue to advance the clinical development of ENV-101 and ENV-501 for fibrotic lung diseases and cancer.” Dr. Kariuki has more than 15 years of experience in healthcare strategy, life sciences investment banking, venture capital and business development. Most recently, he served as Chief Executive Officer of Lengo Therapeutics (acquired by Blueprint Medicines). Previously, Dr. Kariuki served as the Chief Financial Officer of VelosBio (acquired by Merck), where he led all finance-related and investor relations functions. Prior to VelosBio, he served as Senior Vice President, Corporate Development, at Synthorx, where he led the company’s IPO, managed relationships with bankers, sell-side equity analysts and investors, and headed the business development process that concluded with the sale of Synthorx to Sanofi. As a result of Dr. Kariuki’s new role as President, he will transition off of Endeavor BioMedicines’ Board of Directors. “I look forward to expanding my role with Endeavor as we continue to advance towards our clinical milestones,” said Dr. Kariuki. “I can see the distinct and very differentiated therapeutic benefits of the company’s two pipeline candidates and I’m thrilled to work alongside John and the rest of the management team.” Mr. Turakhia has 15 years of investment banking experience. Prior to joining Endeavor BioMedicines, Vishaal was a Managing Director in the Healthcare Investment Banking Group at Piper Sandler, where he advised management teams and boards of biopharma companies on a range of financing and strategic transactions. Prior to Piper Sandler, Vishaal was Vice President in the Healthcare Investment Banking Groups at Bank of America Merrill Lynch and RBC Capital Markets, and an Equity Research Analyst in the Healthcare Group at Goldman Sachs, where he covered SMID-cap biopharma companies. During his career, Vishaal has executed more than 80 transactions, including over $50 billion in equity and debt financings and M&A. “I am honored to join Endeavor BioMedicines' highly credentialed leadership team as we continue building a strong financial foundation to advance our programs and create significant value for all key stakeholders,” said Mr. Turakhia. “I am particularly excited to be a part of this team's vision to develop groundbreaking medicines that have the potential to reverse the trajectory of relentless diseases." About Endeavor BioMedicines Endeavor BioMedicines is a clinical-stage biotechnology company developing medicines with the potential to deliver transformational clinical benefits to patients with life-threatening diseases. Endeavor’s lead candidate, ENV-101, is an inhibitor of the Hedgehog (Hh) signaling pathway in clinical development for the treatment of idiopathic pulmonary fibrosis (IPF) and progressive fibrosing-interstitial lung disease (PF-ILD). Their second candidate, ENV-501, is a HER3-antibody drug conjugate (ADC) for the treatment of HER3-positive solid tumors. More information is available at and on LinkedIn or X.