Cue Biopharma Announces Strategic Organizational Transition

Rhea-AI Summary

Cue Biopharma (Nasdaq: CUE) announced key organizational changes with Daniel Baker, M.D., joining as interim chief development officer (CDO) effective November 25, 2024. Dr. Anish Suri will transition from president & chief scientific officer to principal research and immunology advisor. Dr. Baker brings over 20 years of pharmaceutical industry experience, notably serving as Vice President of Immunology R&D at Johnson & Johnson, where he oversaw multiple successful drug developments leading to 15+ regulatory approvals. The transition aims to enhance the company's pipeline development in oncology and autoimmunity.

Positive

• Appointment of Dr. Baker brings significant expertise in registrational strategies for immunotherapeutics
• Dr. Baker's track record includes oversight of 15+ regulatory approvals in US, Europe, and Japan
• Strategic reorganization focuses on advancing drug pipeline development

Negative

• None.

Insights

Medical Research Analyst

This management transition appears strategically neutral for Cue Biopharma. While Dr. Baker brings valuable experience in drug development and regulatory approvals from his tenure at Johnson & Johnson, particularly with successful immunology drugs like Remicade, Simponi and Stelara, the departure of Dr. Suri from his executive role creates some uncertainty. Dr. Baker's expertise in Phase I-III trials and regulatory approvals could accelerate the company's clinical development programs, but his interim status raises questions about long-term leadership stability.

The retention of Dr. Suri as an advisor helps maintain continuity in research direction, though his reduced role may impact day-to-day operations. For a clinical-stage biotech company with a $104M market cap, maintaining strong leadership in drug development is crucial. Investors should monitor how this transition affects the progress of the company's Immuno-STAT platform and ongoing clinical trials.

• Daniel Baker, M.D., will join Cue Biopharma’s executive team as interim chief development officer (CDO), effective Monday, November 25, 2024
• Anish Suri, Ph.D., president & chief scientific officer (CSO) of Cue Biopharma, to transition to principal research and immunology advisor

BOSTON, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Cue Biopharma, Inc. (Nasdaq: CUE), a clinical-stage biopharmaceutical company developing a novel class of therapeutic biologics to selectively engage and modulate disease-specific T cells for the treatment of cancer and autoimmune disease, today announced that Daniel Baker, M.D., will join Cue Biopharma as interim chief development officer (CDO) effective November 25, 2024. Dr. Anish Suri will transition from his current role of president & chief scientific officer (CSO) and will serve the company as principal research and immunology advisor effective as of the same date.  

“This organizational transition will further enhance the company’s next stage of growth with greater focus and capacity for building upon and advancing its pipeline of drug product candidates in oncology and autoimmunity,” said Daniel Passeri, chief executive officer of Cue Biopharma. “Dr. Baker will bring significant depth of experience and expertise in registrational strategies for immunotherapeutics to Cue Biopharma while Dr. Suri will continue to provide the company with his invaluable scientific insight and strategic guidance.”

Dr. Baker has over 20 years of drug development experience in the pharmaceutical industry. From 2000 to 2019, he served as Vice President, Immunology R&D at Johnson & Johnson (Janssen/Centocor) where his responsibilities included clinical development of Remicade, Simponi and Stelara, as well as other major clinical drug programs. His supervision and oversight of numerous Phase I-III trials in multiple disease areas, led to more than 15 regulatory approvals in the US, Europe and Japan. In 2015, Dr. Baker assumed the role of Disease Area Stronghold Leader at Janssen where he was responsible for Phase II & III clinical development plans for rheumatology products and the overall portfolio strategy in rheumatology and immunology. Following his retirement from Janssen in 2019, Dr. Baker served as CEO and founder of Kira Therapeutics and more recently as Executive Director on the board of Galapagos Therapeutics from April 2022 until October 2024. Dr. Baker received his Medical Degree from the University of Pennsylvania and completed his Medical Residency at Hershey Medical Center and Fellowship in Rheumatology and Immunology at the University of Pennsylvania, followed by a Research Fellowship in Rheumatology at Mass General Hospital.

“I am very pleased to be joining Cue Biopharma to further develop its highly promising and innovative Immuno-STAT™ biologics platform, with the potential to address the significant unmet medical need of cancer and autoimmune patients,” said Dr. Baker. “I look forward to working closely with the Cue Biopharma management team to further enhance clinical development and registrational strategies and capacities.”

Dr. Matteo Levisetti, chief medical officer of Cue Biopharma stated, “We are delighted to be working closely with Dr. Baker to help shape and guide our portfolio development strategies. Dr. Baker’s proven record as a highly successful and prolific drug developer in the field of immunology will augment and bolster our mission to bring novel and effective immunotherapies to patients in need.”

From the Cue Biopharma Team
We look forward to continuing to work with Anish in his new role as Principal Research and Immunology Advisor and thank him for his dedication to world class research, unwavering commitment to the field of immunology and invaluable service and contribution to building Cue Biopharma’s pipeline of promising immunotherapies.

About Cue Biopharma

Cue Biopharma, a clinical-stage biopharmaceutical company, is developing a novel class of injectable biologics to selectively engage and modulate disease-specific T cells directly within the patient’s body. The company’s proprietary platform, Immuno-STAT™ (Selective Targeting and Alteration of T cells), and biologics are designed to harness the curative potential of the body’s intrinsic immune system through the selective modulation of disease-specific T cells without the adverse effects of broad systemic immune modulation.

Headquartered in Boston, Massachusetts, we are led by an experienced management team and independent Board of Directors with deep expertise in immunology and immuno-oncology as well as the design and clinical development of protein biologics.

For more information please visit www.cuebiopharma.com and follow us on X and LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, those regarding: the executive transitions and the dates thereof; the company’s belief that the CUE-100 series represents the potential of establishing a new standard of care for cancer patients; the company’s belief that the Immuno-STAT platform stimulates targeted immune modulation through the selective modulation of disease-relevant T cell and the applicability of the company’s platform across many cancers and autoimmune diseases; and the company’s business strategies, plans and prospects. Forward-looking statements, which are based on certain assumptions and describe the company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the company’s ability to shift its focus to its autoimmune assets and achieve the cost savings that it is projecting; the company’s limited operating history, limited cash and a history of losses; the company’s ability to achieve profitability; potential setbacks in the company’s research and development efforts including negative or inconclusive results from its preclinical studies or clinical trials or the company’s ability to replicate in later clinical trials positive results found in preclinical studies and early-stage clinical trials of its product candidates; serious and unexpected drug-related side effects or other safety issues experienced by participants in clinical trials; its ability to secure required U.S. Food and Drug Administration (“FDA”) or other governmental approvals for its product candidates and the breadth of any approved indication; adverse effects caused by public health pandemics, including possible effects on the company’s trials; delays and changes in regulatory requirements, policy and guidelines including potential delays in submitting required regulatory applications to the FDA; the company’s reliance on licensors, collaborators, contract research organizations, suppliers and other business partners; the company’s ability to obtain adequate financing to fund its business operations in the future; the company’s ability to maintain and enforce necessary patent and other intellectual property protection; competitive factors; general economic and market conditions and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of the company’s most recently filed Annual Report on Form 10-K and any subsequently filed Quarterly Report(s) on Form 10-Q. Any forward-looking statement made by the company in this press release is based only on information currently available to the company and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Contact
Marie Campinell 
Senior Director, Corporate Communications
Cue Biopharma, Inc.
mcampinell@cuebio.com

Media Contact
Jonathan Pappas
LifeSci Communications
jpappas@lifescicomms.com

FAQ

When will Daniel Baker join Cue Biopharma (CUE) as interim CDO?

Daniel Baker, M.D., will join Cue Biopharma as interim chief development officer (CDO) effective November 25, 2024.

What is Dr. Baker's previous experience before joining Cue Biopharma (CUE)?

Dr. Baker served as Vice President of Immunology R&D at Johnson & Johnson from 2000 to 2019, where he led clinical development of multiple drugs and achieved over 15 regulatory approvals. He later served as CEO of Kira Therapeutics and Executive Director at Galapagos Therapeutics.

What role will Dr. Anish Suri transition to at Cue Biopharma (CUE)?

Dr. Anish Suri will transition from his current role of president & chief scientific officer (CSO) to serve as principal research and immunology advisor effective November 25, 2024.