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Radionetics Oncology Appoints Istvan Molnar, M.D. as Chief Medical Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
management
Rhea-AI Summary
Radionetics Oncology has appointed Istvan Molnar, M.D. as the new Chief Medical Officer, bringing 15 years of oncology clinical development experience. This strategic hire is critical as the company plans to file three Investigational New Drug (IND) applications in 2023 and 2024, focusing on radiopharmaceuticals aimed at redefining cancer treatment standards. Dr. Molnar has a strong background in regulatory submissions and has successfully led late-stage oncology projects. The growing radiopharmaceutical market is projected to reach $12.6 billion by 2027, emphasizing the potential for Radionetics' innovative therapies.
Positive
Appointment of experienced CMO Istvan Molnar enhances leadership and expertise in radiopharmaceutical development.
Plans to file three INDs in 2023 and 2024 indicate active progression towards clinical development.
Growing market for radiopharmaceuticals projected to reach $12.6 billion by 2027, suggesting strong revenue potential.
Negative
None.
Radionetics adds key expertise in radiopharmaceutical drug development as company expects to file three INDs in 2023 and 2024
SAN DIEGO--(BUSINESS WIRE)--
Radionetics Oncology, a pharmaceutical company focused on the discovery and development of novel radiotherapeutics for the treatment of a wide range of oncology indications, is pleased to announce the appointment of Istvan Molnar, M.D. as Chief Medical Officer. Dr. Molnar is an industry veteran bringing 15 years of experience in oncology clinical development, including significant expertise in radiopharmaceutical drug development.
Dr. Molnar has a broad background in oncology and radiopharmaceutical drug development spanning early- to late-stage projects with extensive global experience in clinical development, regulatory, medical affairs, and drug safety. In his previous roles as the global clinical lead at biopharmaceutical companies he led regulatory agency submissions and secured approvals for oncology therapeutics in the US, EU, Japan and other jurisdictions.
“We are excited to welcome Dr. Molnar, a seasoned leader who adds valuable radiopharmaceutical clinical development expertise and knowledge to the Radionetics team as we transition to a clinical stage company,” said Nishan de Silva, M.D., Chief Executive Officer of Radionetics. “His leadership will be critical as we prepare to file three INDs in 2023 and 2024. We are pursuing a differentiated approach in an emerging therapeutic class that has the potential to redefine current standards of care in oncology. Dr. Molnar shares our vision and passion to create effective new treatments that go beyond what has been done before to treat cancer patients.”
“I am pleased to join Radionetics at this exciting time and look forward to working with the accomplished team to harness the power of radiopharmaceuticals to address urgent and critical unmet medical needs,” said Dr. Molnar. “The company is rapidly progressing multiple programs toward clinical development. I am honored to be part of the journey and share my expertise and knowledge to help develop these first-in-class treatments for cancer patients.”
Dr. Molnar was most recently Chief Medical Officer at Lantheus Medical Imaging and at Fusion Pharmaceuticals. Prior to these appointments, he was Vice President of Clinical Development at Merrimack Pharmaceuticals and Director and Global Clinical Lead at Bayer Pharmaceuticals. Dr. Molnar has accumulated considerable experience in all stages of oncology development, including several successful drug approvals with significant time spent on radiopharmaceutical development projects at Bayer, Fusion Pharmaceuticals and Lantheus Medical Imaging. His experience includes late-stage development of radium-223 dichloride (Xofigo®) and regulatory submission of piflufolastat F 18 (Pylarify®) for prostate cancer, as well as development work on sorafenib (Nexavar®), irinotecan liposome injection (Onyvide®) and others across a wide range of solid tumor indications. Prior to his industry career, he was Assistant Professor at Wake Forest University in North Carolina, specializing in acute leukemia, stem cell transplantation, and myelodysplastic syndrome.
Dr. Molnar received his medical degree at Semmelweis University in Budapest, Hungary and completed an internal medicine residency at Meridia Huron Hospital in Ohio and a Hematology-Oncology Fellowship at Wake Forest University School of Medicine in North Carolina.
About Radionetics Oncology
Radionetics Oncology, Inc. is a pharmaceutical company focused on the discovery and development of novel radiotherapeutics for the treatment of a wide range of oncology indications and is poised to capitalize on the increasing demand for novel radiotherapeutics. According to commercially available market research reports, the market for radiopharmaceuticals is expected to rise to $12.6 billion by 2027. The company’s platform technology uses small molecule targeting to deliver therapeutic radioisotopes to a broad range of cancers by binding selectively to receptors that are overexpressed on these tumors. This small molecule technology addresses many of the significant challenges currently facing peptide and protein targeted radiotherapeutics, particularly in the realm of optimizing drug-like characteristics and manufacturing. Spun out of Crinetics (Nasdaq: CRNX) in 2021 and financed by 5AMVentures and Frazier Healthcare, Radionetics is advancing a pipeline that currently consists of multiple lead drug candidates to treat a broad range of cancers and is conducting additional drug discovery efforts to identify drug candidates for additional receptor targets.
Brett Ewald, Ph.D.
SVP, Head of Strategy & Corporate Development
Radionetics Oncology, Inc. pr@radionetics.com
Source: Radionetics Oncology, Inc.
FAQ
Who is the new Chief Medical Officer of Radionetics Oncology and what is his background?
The new Chief Medical Officer is Istvan Molnar, M.D., who has 15 years of experience in oncology clinical development and significant expertise in radiopharmaceutical drug development.
What are Radionetics Oncology's plans for filing INDs?
Radionetics plans to file three Investigational New Drug applications in 2023 and 2024.
What is the projected market size for radiopharmaceuticals?
The market for radiopharmaceuticals is expected to rise to $12.6 billion by 2027.
What is the significance of Dr. Molnar's appointment to Radionetics?
Dr. Molnar's appointment adds valuable experience and leadership as Radionetics transitions to a clinical-stage company focused on developing innovative cancer treatments.
