Revolution Medicines Appoints Lorence Kim, M.D., Accomplished Health Care Industry Leader, to Board of Directors

Rhea-AI Summary

Revolution Medicines, Inc. (Nasdaq: RVMD) announced the appointment of Lorence Kim, M.D. to its board of directors on July 13, 2022. Dr. Kim, formerly CFO at Moderna, brings vital operational and financial expertise crucial for the company’s development pipeline of targeted therapies for RAS-addicted cancers. He replaces Neil Exter, enhancing the board as clinical trials for RMC-6236 and RMC-6291 progress. The company continues to make strides in evaluating drug combinations, particularly RMC-4630 with sotorasib, showing promising results that may advance cancer treatment.

Positive

• Appointment of Lorence Kim, M.D. as board member; brings expertise from Moderna and Goldman Sachs.
• Progress in clinical trials for RMC-6236 and RMC-6291 indicates advancing pipeline.
• Recent positive trial results suggest safety and efficacy of sotorasib and RMC-4630 combination.

Negative

• None.

Board composition evolves as company’s development pipeline matures

REDWOOD CITY, Calif., July 13, 2022 (GLOBE NEWSWIRE) -- Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage oncology company developing targeted therapies for RAS-addicted cancers, today announced the appointment of Lorence Kim, M.D., to its board of directors. Dr. Kim has made significant contributions across the biotechnology and financial industries during his career at Moderna and Goldman Sachs. He has extensive operational expertise and an extraordinary track record in raising capital for high-growth health care companies. Dr. Kim will serve as an independent director for the remaining term of Neil Exter, who is stepping down after serving as a director most recently since 2019.

Dr. Kim is known particularly for his time as chief financial officer of Moderna, Inc., where over six years he was instrumental in raising $4.4 billion in capital to support the company’s platform efforts in mRNA therapeutics and the development of its pipeline of more than 20 drug candidates spanning oncology and other therapeutic areas. Before joining Moderna, Dr. Kim had a highly productive 14-year career at Goldman Sachs, where he advised numerous companies as a managing director and co-head of biotechnology investment banking.  

“Lorence is a highly-respected leader within the biotech industry and we are very pleased to bring his strategic, financial and operational expertise to our board as we progress our mission to defeat RAS-addicted cancers,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. “Our continuing momentum is highlighted by the recent initiation of clinical evaluation for our first RAS(ON) Inhibitor, RMC-6236, and ongoing site activation for the first-in-human clinical trial of our second RAS(ON) Inhibitor, RMC-6291. We’ve also had continued progress with recently published preliminary results from Amgen’s ongoing CodeBreaK 101 clinical trial that suggest the safety, tolerability and promising clinical activity of the combination of sotorasib and RMC-4630, as well as continuing enrollment into our Phase 2 trial (RMC-4630-03 study) of the combination of sotorasib and RMC-4630 in lung cancer.

“Revolution Medicines is certain to benefit from Lorence’s insights and perspective as we continue to mature our rich development pipeline of groundbreaking targeted cancer therapies. We also are grateful to Neil for his support and contributions to Revolution Medicines since our earlier days as a private start-up company.”

Dr. Kim said, “This is a transformational time for Revolution Medicines as the company has begun advancing a series of highly original RAS(ON) Inhibitors into the clinic while continuing clinical development of promising RAS Companion Inhibitors. I am excited to join this talented board and look forward to collaborating with fellow directors and management to sustain the company’s strong momentum toward extraordinary new treatments for cancer patients.”

Dr. Kim currently serves on the boards of directors of Cowen, Inc., Flare Therapeutics, Inc., and Abata Therapeutics, Inc., and is a venture partner at Third Rock Ventures. He is also on the Board of Governors of the American Red Cross. Dr. Kim received an M.D. from the University of Pennsylvania School of Medicine, an M.B.A. in healthcare management from the Wharton School of the University of Pennsylvania and an A.B. in biochemical sciences from Harvard University.

About Revolution Medicines, Inc.

Revolution Medicines is a clinical-stage oncology company developing novel targeted therapies for RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) Inhibitors designed to suppress diverse oncogenic variants of RAS proteins, and RAS Companion Inhibitors for use in combination treatment strategies. The company’s RAS(ON) Inhibitor RMC-6236 (RAS^MULTI) is in clinical development. Additional RAS(ON) Inhibitors in development include RMC-6291 (KRAS^G12C), RMC-9805 (KRAS^G12D) and RMC-8839 (KRAS^G13C), and a pipeline of research compounds targeting additional RAS variants. RAS Companion Inhibitors in clinical development include RMC-4630 (SHP2) and RMC-5552 (mTORC1/4EBP1).

Amgen’s abstract (“OA03.03”) at the 2022 World Conference on Lung Cancer is entitled “Sotorasib in Combination with RMC-4630, a SHP2 Inhibitor, in KRAS p.G12C-Mutated NSCLC and Other Solid Tumors.” It can be accessed on the conference website under the session OA03 – Molecular Targeted Treatments.

Revolution Medicines and Sanofi are sponsoring RMC-4630-03 as a complement to the CodeBreaK 101c trial under their global partnership on SHP2.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered "forward-looking statements," including without limitation statements regarding the company’s development plans and timelines and its ability to mature and advance its portfolio and R&D pipeline; site activation, dosing and enrollment in the company’s clinical trials and the tolerability, potential efficacy and utility of the company’s candidates being studied; the ability of the company’s therapies to defeat RAS-addicted cancers; the safety, tolerability and clinical activity of the combination of sotorasib and RMC-4630. Forward-looking statements are typically, but not always, identified by the use of words such as "may," "will," "would," "believe," "intend," "plan," "anticipate," "estimate," "expect," and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ early stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape and the effects on the company’s business of the worldwide COVID-19 pandemic. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 9, 2022, and its future periodic reports to be filed with the Securities and Exchange Commission. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events. 

FAQ

What is the significance of Lorence Kim's appointment to Revolution Medicines' board?

Lorence Kim brings extensive financial and operational expertise from his previous roles at Moderna and Goldman Sachs, which may enhance the strategic direction of Revolution Medicines as it advances its cancer therapies.

What clinical trials are currently being conducted by Revolution Medicines?

Revolution Medicines is conducting clinical trials for RMC-6236 and RMC-6291, focusing on RAS(ON) Inhibitors, and evaluating the combination of RMC-4630 and sotorasib.

When did Revolution Medicines announce the appointment of Lorence Kim?

Revolution Medicines announced Lorence Kim's appointment to its board on July 13, 2022.

What are the potential implications of the trial results for sotorasib and RMC-4630?

The promising trial results indicate potential efficacy and safety, which could lead to expanded treatment options for patients with RAS-addicted cancers.