Kura Oncology Appoints Carol Schafer to Board of Directors

Rhea-AI Summary

Kura Oncology (Nasdaq: KURA) announced the appointment of Carol Schafer to its board of directors, effective June 3, 2021. With over 25 years of experience in healthcare investment banking, including her recent role as Vice Chair of Equity Capital Markets at Wells Fargo Securities, Schafer is expected to contribute significantly to Kura’s strategic initiatives. She will succeed Robert Hoffman, who is stepping down from the board on August 3, 2021, after six years of service. Kura's pipeline includes promising cancer treatment candidates like KO-539 and Tipifarnib.

Positive

• Appointment of Carol Schafer adds significant experience in healthcare investment banking.
• Schafer's background includes overseeing over 200 transactions raising nearly $90 billion.
• Kura's oncology pipeline is considered promising, which may enhance investor confidence.

Negative

• Transition in board leadership could present challenges in continuity and strategy execution.

SAN DIEGO, June 04, 2021 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced the appointment of Wall Street veteran Carol Schafer to its board of directors, effective June 3, 2021. Ms. Schafer has more than 25 years of experience in healthcare investment banking, most recently as Vice Chair of Equity Capital Markets at Wells Fargo Securities.

“Carol brings a wealth of experience as a trusted strategic and financial advisor to the leadership teams of growing biopharmaceutical companies,” said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. “We welcome her to the board and look forward to her contributions as we work to bring our oncology drug candidates to market, expand their use to larger patient populations and create value for patients and shareholders.”

Ms. Schafer currently serves as a Managing Partner at Hyphen Advisors. She previously served as Vice Chair of Equity Capital Markets at Wells Fargo Securities, where she oversaw more than 200 transactions that raised nearly $90 billion in proceeds. Prior to that, Ms. Schafer served as Vice President of Finance and Business Development at Lexicon Pharmaceuticals. Earlier, she held positions of increasing responsibility at J.P. Morgan, most recently as Managing Director of Equity Capital Markets. Ms. Schafer currently serves on the board of directors of Insmed, Idera Pharmaceuticals and Repare Therapeutics, and she previously served on the board of Five Prime Therapeutics until its acquisition by Amgen in April 2021. She received a B.A. from Boston College and an MBA from New York University.

“Kura has a promising pipeline of oncology drug candidates, an impressive team and the financial resources to create significant value,” said Ms. Schafer. “I look forward to working with the leadership team and my fellow board members to help the company achieve its strategic objectives and realize this value.”

Ms. Schafer will succeed Robert Hoffman, who will be resigning from the board effective August 3, 2021. Ms. Schafer will also succeed Mr. Hoffman as Audit Committee Chair at that time. Mr. Hoffman has served on Kura’s board since March 2015.

“I want to take this opportunity to express my sincere appreciation for Robert’s service and his many contributions throughout his six years on the Kura board,” continued Dr. Wilson. “We are deeply grateful for his service as a board member and audit committee chair, and on behalf of everyone at Kura, we wish him well in his future endeavors.”

About Kura Oncology

Kura Oncology is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. The Company’s pipeline consists of small molecule drug candidates that target cancer signaling pathways. KO-539, a potent and selective menin inhibitor, is currently in a Phase 1/2 clinical trial (KOMET-001) and targeting patients with relapsed/refractory acute myeloid leukemia, including patients with NPM1 mutations. Tipifarnib, a potent, selective and orally bioavailable farnesyl transferase inhibitor, has received Breakthrough Therapy Designation for the treatment of patients with HRAS mutant head and neck squamous cell carcinoma and is currently in a registration-directed study (AIM-HN) in patients with this devastating disease. Kura is also developing a next-generation farnesyl transferase inhibitor, which is intended to target innovative biology and larger oncology indications through rational combinations. For additional information about Kura, please visit the Company’s website at www.kuraoncology.com.

Forward-Looking Statements

This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic potential of Kura’s drug candidates, tipifarnib and KO-539, progress and expected timing of Kura’s drug development programs and clinical trials and submission of regulatory filings, the presentation of data from clinical trials, plans regarding regulatory filings and future clinical trials, the regulatory approval path for tipifarnib, the strength of Kura’s balance sheet and the adequacy of cash on hand. Factors that may cause actual results to differ materially include the risk that compounds that appeared promising in early research or clinical trials do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Kura may not obtain approval to market its drug candidates, uncertainties associated with performing clinical trials, regulatory filings, applications and other interactions with regulatory bodies, the risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, the risks associated with the COVID-19 global pandemic, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "promise," "potential," "expects," "plans," "anticipates," "intends," "continues," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties the Company faces, please refer to the Company's periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Kura assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Company:
Pete De Spain
Vice President, Investor Relations &
Corporate Communications
(858) 500-8803
pete@kuraoncology.com

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

Media:
Jason Spark
Managing Director
Canale Communications
(619) 849-6005
jason@canalecomm.com

FAQ

Who is the new board member for Kura Oncology in 2021?

Carol Schafer was appointed to the board of Kura Oncology effective June 3, 2021.

What is the professional background of Carol Schafer?

Carol Schafer has over 25 years of experience in healthcare investment banking, most recently as Vice Chair of Equity Capital Markets at Wells Fargo Securities.

Why is Robert Hoffman resigning from Kura Oncology's board?

Robert Hoffman will resign from Kura's board effective August 3, 2021, after serving since March 2015.

What is the significance of Carol Schafer's role at Kura Oncology?

Schafer's expertise is expected to support Kura in achieving its strategic objectives and enhancing its oncology drug market potential.

What does Kura Oncology focus on in its drug development?

Kura Oncology focuses on developing precision medicines for cancer treatment, with candidates targeting specific cancer signaling pathways.