Harpoon Therapeutics Announces Leadership Change

Rhea-AI Summary

Harpoon Therapeutics (HARP) announced the departure of Chief Medical Officer, Natalie Sacks, effective June 1, 2022, who will consult until year-end. The management expressed gratitude for her contributions to advancing multiple development programs. In the interim, Yifah Yaron and Mark Sayles will lead clinical activities while a search for her replacement is underway. The company is focused on its T cell engager platform targeting solid tumors and hematologic malignancies, with ongoing trials for HPN217 and HPN328.

Positive

• Continuity in clinical leadership with Yifah Yaron and Mark Sayles during the search for a new CMO.
• Ongoing clinical programs targeting solid tumors and hematologic malignancies with promising trial results.

Negative

• Departure of CMO may create a temporary gap in leadership during the transition.
• Ongoing search for a new CMO may lead to uncertainty in clinical strategy execution.

SOUTH SAN FRANCISCO, Calif., April 07, 2022 (GLOBE NEWSWIRE) -- Harpoon Therapeutics, Inc. (Nasdaq: HARP), a clinical-stage immunotherapy company developing novel T cell engagers, today announced that Natalie Sacks, M.D., Chief Medical Officer, will be leaving the company effective June 1, 2022. Dr. Sacks will serve as a consultant to Harpoon through the end of the year.

“On behalf of the management team and the board of directors, I want to extend our gratitude to Dr. Sacks for the important role she played in advancing multiple development programs using our proprietary TriTAC^® platform into the clinic,” said Julie Eastland, President and Chief Executive Officer of Harpoon Therapeutics. “We wish Natalie the very best in her future endeavors. We have built an exceptional clinical team with deep experience in drug development. Under their leadership, we will continue to advance our promising clinical programs to meet our planned milestones. We look forward to a productive 2022.”

While the executive search for a new Chief Medical Officer is ongoing, Yifah Yaron, M.D., Ph.D., and Mark Sayles, M.D., Ph.D., both Medical Team Leaders, will continue to advance the Company’s clinical programs, HPN328 and HPN217, and direct our clinical activities for the entire portfolio.

About Harpoon Therapeutics

Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct (TriTAC^®) platform, Harpoon is developing a pipeline of novel TriTACs initially focused on the treatment of solid tumors and hematologic malignancies. HPN217 targets BCMA and is in a Phase 1/2 trial for relapsed, refractory multiple myeloma. HPN328 targets DLL3 and is in a Phase 1/2 trial for small cell lung cancer and other DLL3-associated tumors. HPN536 targets mesothelin and is in a Phase 1/2a trial for cancers expressing mesothelin, initially focused on ovarian and pancreatic cancers. Harpoon has also developed a proprietary ProTriTAC™ platform, which applies a prodrug concept to its TriTAC platform to create a therapeutic T cell engager that remains inactive until it reaches the tumor. The company’s third proprietary technology platform, extended release TriTAC-XR, is designed to mitigate cytokine release syndrome. For additional information about Harpoon Therapeutics, please visit www.harpoontx.com.

Cautionary Note on Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “look forward,” “plan,” “target,” “will,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Harpoon Therapeutics’ expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause Harpoon Therapeutics’ clinical development programs, future results or performance to differ significantly from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the development and advancement of Harpoon Therapeutics’ platforms and product candidates, including progress, timing, planned milestones, and other statements that are not historical fact. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during clinical studies, preliminary data and trends may not be predictive of future data or results, may not demonstrate safety or efficacy or lead to regulatory approval by the FDA or other regulatory agencies, clinical trial site activation or enrollment rates that are lower than expected, unanticipated or greater than anticipated impacts or delays due to COVID-19, changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process, the timing and results of unexpected litigation or other disputes, and the sufficiency of Harpoon Therapeutics’ cash resources. These and other factors that may cause Harpoon Therapeutics’ actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Harpoon Therapeutics’ filings with the U.S. Securities and Exchange Commission, including under “Risk Factors” in Harpoon Therapeutics’ annual report on Form 10-K for the year ended December 31, 2021 and other filings by Harpoon Therapeutics. Except as required by law, Harpoon Therapeutics assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Contacts:

Harpoon Therapeutics, Inc.
Georgia Erbez
Chief Financial Officer
650-443-7400
media@harpoontx.com

ICR Westwicke
Robert H. Uhl
Managing Director
858-356-5932
robert.uhl@westwicke.com

FAQ

What is the reason for Natalie Sacks leaving Harpoon Therapeutics?

Natalie Sacks is leaving her position as CMO effective June 1, 2022, to pursue other opportunities but will remain as a consultant until the end of the year.

Who will lead Harpoon's clinical programs after the departure of the CMO?

Yifah Yaron and Mark Sayles will continue to lead the clinical programs during the search for a new Chief Medical Officer.

How might the departure of the CMO affect Harpoon Therapeutics?

The departure may create a leadership gap but continuity in management with existing clinical team leaders aims to mitigate potential impacts on ongoing clinical programs.

What are the key clinical programs currently being advanced by Harpoon Therapeutics?

Harpoon is advancing HPN217, targeting BCMA for multiple myeloma, and HPN328, targeting DLL3 for small cell lung cancer, among other projects.