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Ambrx Biopharma Appoints Edward Hu and Kate Hermans to its Board of Directors
Rhea-AI Impact
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Rhea-AI Sentiment
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management
Rhea-AI Summary
Ambrx Biopharma Inc. (NYSE: AMAM) announced the addition of Edward Hu and Kate Hermans to its Board of Directors. Both bring extensive experience in the pharmaceutical sector, with Hu serving as Global Chief Investment Officer of WuXi AppTec and Hermans as CEO of Hermans International. Their expertise is expected to aid Ambrx in advancing its clinical development pipeline, particularly ARX788. The company develops Engineered Precision Biologics using an expanded genetic code technology platform, targeting various therapeutic areas.
Positive
Appointment of Edward Hu and Kate Hermans brings extensive pharmaceutical experience to the Board.
Leadership change expected to strengthen strategic direction and clinical development.
Negative
None.
SAN DIEGO--(BUSINESS WIRE)--
Ambrx Biopharma Inc., or Ambrx, (NYSE: AMAM), a clinical stage biopharmaceutical company using an expanded genetic code technology platform to create Engineered Precision Biologics (EPBs), today announced the appointments of Edward Hu and Kate Hermans to its Board of Directors.
“I am delighted to welcome both Edward and Kate to Ambrx’s Board,” said Feng Tian, Ph. D., Chairman of the Board, President, and CEO of Ambrx. “Together, they have decades of experience in business strategy and operations in the pharmaceutical industry on a global scale. I look forward to working closely with Edward and Kate and utilizing their invaluable insight as we continue to progress ARX788 and the rest of our clinical development pipeline.”
Edward Huhas more than 25 years’ experience in the pharmaceutical industry. Mr. Hu currently serves as the Global Chief Investment Officer, as an executive director, and as the Vice Chairman of WuXi AppTec Co., Ltd., positions he has held since May 2020. Previously, Mr. Hu served as the Co-Chief Executive Officer of WuXi AppTec Co., Ltd from August 2018 to May 2020, Chief Financial Officer and Chief Investment Officer of WuXi AppTec Co., Ltd from April 2014 to August 2018, Chief Operating Officer and Chief Financial Officer of WuXi AppTec Co., Ltd from February 2009 to April 2014, and Chief Operating Officer of WuXi AppTec Co., Ltd from August 2007 to February 2009. Mr. Hu serves as a non-executive director of CANbridge Pharmaceuticals, Inc., a position he has held since July 2022 and also served as a non-executive director of WuXi Biologics (Cayman) Inc. from February 2014 to June 2021 and as a director of Viela Bio Inc. from May 2018 to March 2021. Mr. Hu holds an MBA and an MS in chemistry from Carnegie Mellon University, and a bachelor’s degree in physics from Zhejiang University.
Kate Hermans has more than 20 years’ experience in the pharmaceutical and healthtech industries. Currently, she is the Chief Executive Officer of Hermans International LLC, a commercial and investment advisory firm she founded in 2012 for startup and early-stage enterprises. Previously, Ms. Hermans served as an investor and Chief Business Officer (Pharma) for 83bar Inc., from December 2018 to July 2021. She served as Vice President, Marketing at Radius Health, Inc. from March 2017 to April 2018. Prior to her time at Radius Health, Inc., Ms. Hermans held commercial and operations executive leadership roles at Bristol Myers Squibb, Pfizer/Wyeth Pharmaceuticals, and the Intel Corporation, working in the U.S., China, Africa, and globally. Ms. Hermans is a Board Director on the Advisory Board of Clue and serves on the Board of Mid-Atlantic Diamond Ventures. Ms. Hermans is also a member of the Healthcare Executive Review Committee for Ben Franklin Tech Partners, a member of the Board of Directors for the Alzheimer’s Association, Delaware Valley Chapter, and the Advisory Board of the Women’s Resource Center. Ms. Hermans earned a Master of International Management degree from The Thunderbird School of Global Management and a B.A. in International Relations from Wheaton College, MA.
About Ambrx Biopharma Inc. (Ambrx)
Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics. These include next generation antibody drug conjugates (ADCs), bispecifics, targeted immuno-oncology therapies, novel cytokines to modulate the immune system, and long-acting therapeutic peptides for metabolic and cardiovascular disease. Ambrx is advancing a robust portfolio of clinical and preclinical programs designed to optimize efficacy, safety and ease of use, in multiple therapeutic areas, including its lead product candidate ARX788. In addition, Ambrx has clinical collaborations with multiple partners, for drug candidates generated using Ambrx technology. For more information, please visit www.ambrx.com.
Forward-Looking Statements
This press release includes certain “forward-looking statements” intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words “anticipate,” believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “may,” “will,” “could,” “should,” “seek,” “potential” and similar expressions, and include, without limitation, express or implied statements regarding Ambrx’s beliefs and expectations regarding the advancement and potential benefits of its product candidates, clinical development and strategic plans and Mr. Hu’s and Ms. Hermans’ anticipated contributions. Forward-looking statements are based on Ambrx’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the continuing impact of the COVID-19 pandemic and other public health-related risks and events on Ambrx’s business, operations, strategy, goals and anticipated milestones; Ambrx’s ability to execute on its strategy including with respect to the timing of its R&D efforts, initiation of clinical trials and other anticipated milestones; risks associated with development of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results may not be consistent with preliminary results or results from prior preclinical studies or clinical trials; Ambrx’s ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption “Risk Factors” in Ambrx’s Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (SEC) on April 26, 2022, and elsewhere in Ambrx’s filings and reports with the SEC. Forward-looking statements contained in this press release are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
