Abpro Statement on the Departure of Former CEO Ian Chan
Abpro Holdings (Nasdaq:ABP) announced the departure of CEO Ian Chan, with Board Chairman Miles Suk assuming the CEO position. The company emphasized that this leadership transition will not impact their strategic direction or stability.
The company reaffirmed its commitment to ABP 102/CT-P72, their joint development project with Celltrion. Chief Medical Officer Robert J. Markelewicz highlighted that initial data indicates ABP-102/CT-P72 could be potentially best-in-class for HER2-positive cancers, which affect up to 30% of breast, gastric, pancreatic, and other cancer cases. Additional data will be presented at an upcoming scientific meeting in spring.
Abpro Holdings (Nasdaq:ABP) ha annunciato le dimissioni del CEO Ian Chan, con il presidente del Consiglio Miles Suk che assumerà il ruolo di CEO. L'azienda ha sottolineato che questa transizione nella leadership non influenzerà la loro direzione strategica o stabilità.
L'azienda ha ribadito il suo impegno per ABP 102/CT-P72, il loro progetto di sviluppo congiunto con Celltrion. Il Chief Medical Officer Robert J. Markelewicz ha evidenziato che i dati iniziali indicano che ABP-102/CT-P72 potrebbe essere potenzialmente il migliore della categoria per i cancro HER2-positivo, che colpisce fino al 30% dei casi di cancro al seno, gastrico, pancreatico e altri. Ulteriori dati saranno presentati in un prossimo incontro scientifico in primavera.
Abpro Holdings (Nasdaq:ABP) anunció la salida del CEO Ian Chan, con el presidente de la Junta Miles Suk asumiendo el cargo de CEO. La compañía enfatizó que esta transición de liderazgo no afectará su dirección estratégica ni su estabilidad.
La empresa reafirmó su compromiso con ABP 102/CT-P72, su proyecto de desarrollo conjunto con Celltrion. El Director Médico Robert J. Markelewicz destacó que los datos iniciales indican que ABP-102/CT-P72 podría ser potencialmente el mejor de su clase para los cánceres HER2-positivos, que afectan hasta el 30% de los casos de cáncer de mama, gástrico, pancreático y otros. Se presentarán datos adicionales en una próxima reunión científica en primavera.
Abpro Holdings (Nasdaq:ABP)는 CEO Ian Chan의 퇴임을 발표하며 이사회 의장 Miles Suk이 CEO 직책을 맡게 되었다고 전했습니다. 회사는 이 리더십 전환이 전략적 방향이나 안정성에 영향을 미치지 않을 것이라고 강조했습니다.
회사는 Celltrion과의 공동 개발 프로젝트인 ABP 102/CT-P72에 대한 헌신을 재확인했습니다. 최고 의료 책임자 Robert J. Markelewicz는 초기 데이터가 ABP-102/CT-P72가 HER2 양성 암에 대해 잠재적으로 최고의 제품이 될 수 있음을 시사한다고 강조했습니다. 이는 유방암, 위암, 췌장암 및 기타 암 사례의 최대 30%에 영향을 미칩니다. 추가 데이터는 봄에 예정된 과학 회의에서 발표될 예정입니다.
Abpro Holdings (Nasdaq:ABP) a annoncé le départ du PDG Ian Chan, avec le président du conseil, Miles Suk, assumant la position de PDG. L'entreprise a souligné que cette transition de leadership n'affectera pas leur direction stratégique ni leur stabilité.
L'entreprise a réaffirmé son engagement envers ABP 102/CT-P72, leur projet de développement conjoint avec Celltrion. Le directeur médical Robert J. Markelewicz a souligné que les données initiales indiquent qu'ABP-102/CT-P72 pourrait potentiellement être le meilleur de sa catégorie pour les cancers HER2-positifs, qui touchent jusqu'à 30 % des cas de cancer du sein, de l'estomac, du pancréas et d'autres. Des données supplémentaires seront présentées lors d'une prochaine réunion scientifique au printemps.
Abpro Holdings (Nasdaq:ABP) gab die Abberufung von CEO Ian Chan bekannt, wobei der Vorsitzende des Vorstands, Miles Suk, die CEO-Position übernehmen wird. Das Unternehmen betonte, dass dieser Führungswechsel keinen Einfluss auf ihre strategische Ausrichtung oder Stabilität haben wird.
Das Unternehmen bekräftigte sein Engagement für ABP 102/CT-P72, ihr gemeinsames Entwicklungsprojekt mit Celltrion. Der Chief Medical Officer Robert J. Markelewicz hob hervor, dass erste Daten darauf hindeuten, dass ABP-102/CT-P72 potenziell die beste Klasse für HER2-positive Krebserkrankungen sein könnte, die bis zu 30 % der Fälle von Brust-, Magen-, Bauchspeicheldrüsen- und anderen Krebserkrankungen betreffen. Weitere Daten werden auf einem bevorstehenden wissenschaftlichen Treffen im Frühjahr präsentiert.
- Initial data suggests ABP-102/CT-P72 could be best-in-class for HER2-positive cancers
- Strategic partnership with Celltrion remains stable
- Unexpected CEO departure signals potential internal management issues
- Leadership transition creates uncertainty in company direction
WOBURN, Mass., March 10, 2025 (GLOBE NEWSWIRE) -- Abpro Holdings, Inc. (Nasdaq:ABP) ("Abpro"), a biotechnology company dedicated to advancing next-generation antibody therapies for severe and life-threatening diseases announced today the departure of Chief Executive Officer Ian Chan.
Commenting on the leadership change, Abpro Board Chairman and CEO Miles Suk, said, “As disclosed in our regulatory filing on Friday, the Board has decided to part ways with Ian Chan. I want to thank Ian for his service and wish him well. This leadership transition, however, does not affect our stability or direction. Instead, it marks the first step toward a stronger, more promising future. We remain fully committed to ABP 102/CT-P72, our joint development with Celltrion, and the other key initiatives driving our growth.”
Abpro Chief Medical Officer Robert J. Markelewicz, Jr., M.D., M.M.Sc., added, “ABP-102/CT-P72 is an extremely exciting development candidate. Initial data presented to date suggest it has a potentially best in class profile in HER2-positive cancers which represent up to 30 percent of all cases of breast, gastric, pancreatic, and other forms of cancer. Along with our partners at Celltrion, we look forward to presenting additional data later this spring at an upcoming scientific meeting.”
Miles Suk, concluded by saying, “Dr. Markelewicz and the rest of our focused and determined team will continue to work tirelessly to ensure that our efforts lead to meaningful success. We are dedicated to our mission and confident in delivering lasting value to our partners, investors, and the scientific community."
About ABP-102/CT-P72
CT-P72 is an investigational HER2 x CD3 bispecific T-cell engager designed using Abpro’s proprietary DiversImmune® platform to selectively target HER2-overexpressing tumor cells while reducing activity in HER2-low expressing normal tissues. Its tetravalent IgG1-[L]-scFv format enables bivalent HER2 binding with functionally monovalent CD3 engagement and is designed to optimize tumor selectivity and reduce cytokine-related toxicity.
About Abpro
Abpro’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro is advancing a pipeline of next-generation antibody therapies, for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These antibodies are developed using Abpro's proprietary DiversImmune® platform. Abpro has partnered with Celltrion, which is a leading South Korean biotechnology company, ranked top 25 in the world by market capitalization, in an exclusive collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancer. Abpro is located in Woburn, Massachusetts. For more information, please visit www.abpro.co.
Forward Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Abpro’s ability to raise additional capital; the outcome of judicial proceedings to which Abpro or its subsidiaries is, or may become a party; failure to realize the anticipated benefits of the Business Combination, including difficulty in, or costs associated with, integrating the businesses of ACAB and Abpro; risks related to the rollout of Abpro’s business and the cost and timing of expected business milestones; the effects of competition on Abpro’s future business; and those factors discussed in Abpro’s public filings under the heading “Risk Factors,” and other documents of Abpro filed, or to be filed, with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of Abpro’s public filings and other documents to be filed by Abpro from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Abpro may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Abpro does not give any assurance that Abpro will achieve its expectations. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control.
Abpro Contacts Investors: ir@abpro.co Media: pr@abpro.co
FAQ
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