Pyramid Biosciences Appoints Brian Lestini, MD, PhD as Chief Executive Officer

Rhea-AI Summary

Pyramid Biosciences has appointed Dr. Brian Lestini as the new Chief Executive Officer, succeeding co-founder Dr. Kollol Pal, who remains as Chief Scientific Officer. Dr. Lestini joined the company in March 2021 and has extensive experience in oncology, notably at Bristol-Myers Squibb (NYSE: BMY). The company continues to focus on its clinical-stage pipeline, particularly the lead program PBI-200, a TRK inhibitor targeting brain cancers. This leadership change aims to further enhance the company’s growth and development of precision oncology therapies.

Positive

• Appointment of Dr. Brian Lestini as CEO, anticipated to drive clinical development forward.
• Dr. Lestini has a strong background in oncology and drug development from Bristol-Myers Squibb.
• Continued focus on advancing the clinical pipeline, including the promising PBI-200 program.

Negative

• Transition in leadership may lead to potential continuity concerns during the changeover.
• Dr. Kollol Pal's shift to a different role may create experience gaps in the CEO position.

• Dr. Lestini joined Pyramid Biosciences in March 2021 as Chief Medical Officer
• Pyramid Biosciences co-founder and CEO, Dr. Kollol Pal, will continue to serve as Chief Scientific Officer
• The Company is currently developing a pipeline of clinical-stage precision medicines, including its lead program PBI-200, a next-generation, highly CNS penetrant tropomyosin receptor kinase (TRK) inhibitor for patients with TRK driven cancers

WALTHAM, Mass.--(BUSINESS WIRE)-- Pyramid Biosciences, Inc., a clinical-stage biotechnology company developing a portfolio of precision therapies targeting a wide range of diseases, today announced the appointment of Brian Lestini, MD, PhD as Chief Executive Officer. Dr. Lestini joined Pyramid Biosciences in March 2021 as the Chief Medical Officer, overseeing the advancement and expansion of the company’s clinical pipeline of novel targeted medicines. Pyramid Biosciences’ lead program, PBI-200, currently in Phase 1 clinical trials, is an orally-active, CNS penetrant TRK inhibitor targeting a variety of genetically defined cancers, including primary and metastatic brain cancers.

Dr. Lestini will succeed co-founder and current CEO Kollol Pal, PhD, MBA. Dr. Pal will continue to serve as the Company’s Chief Scientific Officer, where he will lead all pre-clinical development activities. “I would like to thank Dr. Pal for his pioneering leadership," said Dr. Lestini. “Pyramid Biosciences has grown immensely over the past seven years under Dr. Pal’s stewardship, and I’m excited to help the company take the next step in our growth and achieve Dr. Pal’s vision of bringing Pyramid’s precision oncology therapies to underserved patients throughout the world.”

“Dr. Lestini’s successful track record of bringing drugs through development to global approval will be invaluable to Pyramid Bio as we move forward in our clinical development process,” said Dr. Pal. “I’m looking forward to continuing to grow our Company’s pipeline by focusing my efforts on developing new, innovative therapeutic targets for precision oncology.”

An experienced leader in early- and late-stage oncology clinical development, Dr. Lestini oversaw development and commercialization strategies for checkpoint inhibitor therapies including OPDIVO^® (nivolumab) and relatlimab (anti-LAG3 checkpoint inhibitor), a novel immune-oncology agent applied to a wide range of cancers, at Bristol-Myers Squibb (NYSE: BMY). Dr. Lestini also served as the Head of Global Medical Affairs at Bristol-Myers Squibb for three hematology products: OPDIVO^® (nivolumab), SPRYCEL^® (dasatinib), and EMPLICITI^® (elotuzumab). Prior to joining Bristol-Myers Squibb, Dr. Lestini led early-stage clinical development programs at Hoffmann-La Roche (OTCMKTS: RHHBY).

Dr. Lestini is a board-certified pediatric hematologist-oncologist. He received his medical degree (MD) and Doctor of Philosophy (PhD) degree from Case Western Reserve University and completed his fellowship training at the Children’s Hospital of Philadelphia.

About Pyramid Biosciences Inc.
Founded in 2015, Pyramid Biosciences is clinical stage, biotechnology company dedicated to developing a portfolio of precision therapies targeting a wide range of molecularly defined diseases. Pyramid is currently in clinical development of two highly selective tropomyosin receptor kinase (TRK) inhibitors. For more information, please visit www.pyramidbio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220110005238/en/

Media Inquiries:

McDougall Communications on behalf of Pyramid Biosciences

Elizabeth Harness, +1-585-435-7379, elizabeth@mcdougallpr.com

Investor Inquiries:

Jordan Leef, Pyramid Biosciences

CBO, CFO and Co-Founder, +1-781-530-4461, info@pyramidbio.com

Source: Pyramid Biosciences, Inc.

FAQ

What recent leadership change occurred at Pyramid Biosciences?

Pyramid Biosciences appointed Dr. Brian Lestini as Chief Executive Officer, succeeding Dr. Kollol Pal.

What is PBI-200 and its significance?

PBI-200 is Pyramid Biosciences' lead program, a CNS penetrant TRK inhibitor currently in Phase 1 clinical trials targeting TRK-driven cancers.

What experience does Dr. Brian Lestini bring to Pyramid Biosciences?

Dr. Lestini has extensive experience in oncology drug development, previously overseeing strategies for checkpoint inhibitor therapies at Bristol-Myers Squibb.

How will the leadership change impact Pyramid Biosciences' strategy?

The leadership change aims to enhance the company’s strategic focus on developing precision oncology therapies, leveraging Dr. Lestini's expertise.