Scopus BioPharma Announces New Management Appointment Following Acquisition of Leading Immunotherapy Company
Scopus BioPharma Inc. (Nasdaq: SCPS) announced the appointment of Alan Horsager, Ph.D., as President following its acquisition of Olimmune Inc., an immunotherapy firm. Horsager will oversee the integration of Scopus and Olimmune's capabilities, focusing on their combined immuno-oncology pipeline, which includes promising bifunctional STAT3 inhibitors for cancer treatment. Chairman Joshua R. Lamstein expressed confidence in Horsager’s expertise to enhance shareholder value through innovative approaches in targeting STAT3, a key area in cancer therapy.
- Appointment of Dr. Alan Horsager as President is expected to strengthen leadership.
- The acquisition of Olimmune expands Scopus' immuno-oncology portfolio significantly.
- Combination of assets creates one of the leading global portfolios of bifunctional STAT3 inhibitors.
- Potential for significant near-term shareholder value increase due to innovative targeting approaches.
- None.
NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) -- Scopus BioPharma Inc. (Nasdaq: “SCPS”), a clinical-stage biopharmaceutical company developing transformational therapeutics for serious diseases with significant unmet medical needs, today announced a new management appointment following its acquisition of Olimmune Inc., a leading immunotherapy company. Alan Horsager, Ph.D., President and Chief Executive of Olimmune, was appointed President of Scopus with responsibility for overseeing the development of the Company’s rapidly expanding immuno-oncology pipeline.
Joshua R. Lamstein, Chairman of Scopus, stated, “We are excited to add Dr. Horsager to Scopus’ leadership team. Dr. Horsager has an impressive background as both a scientist and biotech entrepreneur. The combination of the immuno-oncology assets of Scopus and Olimmune creates one of the leading global portfolios of bifunctional STAT3 inhibitors for the treatment of multiple cancers. We have great confidence in Dr. Horsager’s ability to integrate these assets into a single, seamless pipeline.”
Dr. Horsager previously served as the Director of LA BioSpace at Cal State LA, the university’s initiative to promote bioscience venture creation in Los Angeles. Previously, Dr. Horsager co-founded and served as a senior executive of two biotechnology companies and also served as a Research Assistant Professor at the University of Southern California. Dr. Horsager received his B.A. from the University of Washington and his Ph.D. in Neuroscience from the University of Southern California.
Dr. Horsager stated, “The combined immuno-oncology portfolio is comprised of STAT3siRNA, STAT3ASO and STAT3decoy. These assets are comprehensive and highly complementary. Inhibiting STAT3 is frequently characterized as the holy grail of treating and curing cancer. Overseeing the integration and development of these assets is an extraordinary opportunity.”
Mr. Lamstein added, “Large pharmaceutical companies, venture capitalists and the capital markets are placing premium valuations on companies with promising programs targeting STAT3. Our approach, highly cell-selective STAT3 inhibition combined with TLR9 immunostimulation, is highly distinguishable with compelling advantages over other approaches. We believe Dr. Horsager will play an important role in increasing awareness of our competitive advantages and unique value proposition. This, we believe, will drive a significant near-term increase in shareholder value.”
In his new role, Dr. Horsager assumes certain responsibilities of Ashish P. Sanghrajka.
About Scopus BioPharma
Scopus BioPharma Inc. is a clinical-stage biopharmaceutical company developing transformational therapeutics for serious diseases with significant unmet medical needs. The company’s lead drug candidate is a novel, targeted immuno-oncology RNA therapy for the treatment of multiple cancers. This drug candidate is highly distinctive, encompassing both RNA therapy and immunotherapy by synthetically linking siRNA to an oligonucleotide TLR9 agonist, creating the potential for targeted gene silencing with simultaneous TLR stimulation and immune activation in the tumor microenvironment. The company’s STAT3-targeting immunotherapy pipeline also includes bifunctional antisense and decoy therapies. Also, the company is developing additional drug candidates to treat other serious diseases with significant unmet medical needs. Receive updates by following Scopus BioPharma on Twitter here.
Forward-Looking Statements
This press release may include forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks (including those set forth in the company’s Form 10-K for the fiscal year ended December 31, 2020, as amended, filed with the U.S. Securities and Exchange Commission (“SEC”)) and uncertainties which could cause actual results to differ from the forward-looking statements. The company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Investors should realize that if our underlying assumptions for the projections contained herein prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections.
Contacts
Rodd Leeds/David Waldman
Crescendo Communications, LLC
Tel: (212) 671-1020
Email: SCPS@crescendo-ir.com
Hugh Burns/Delia Cannan/Nicholas Leasure
Reevemark
Tel: (212) 433-4600
Email: scopus@reevemark.com
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