Sonnet BioTherapeutics Appoints Stephen McAndrew, Ph.D. as Chief Business Officer
Sonnet BioTherapeutics (NASDAQ:SONN) has appointed Stephen J. McAndrew, Ph.D., as Chief Business Officer, effective February 17, 2025. Dr. McAndrew, who brings over 30 years of experience in biologics transactions, has been serving as Vice President and Senior Vice President of Business Development at Sonnet, managing partnering strategy, research partnerships, and the global IP portfolio.
The appointment aims to strengthen Sonnet's business development initiatives as their FHAB assets advance in clinical development. Dr. McAndrew's extensive experience includes senior roles at Oncobiologics (now Outlook Therapeutics) and Bristol-Myers Squibb, where he managed business development, licensing, and marketing functions.
Sonnet BioTherapeutics (NASDAQ:SONN) ha nominato Stephen J. McAndrew, Ph.D., come Chief Business Officer, con effetto dal 17 febbraio 2025. Il Dr. McAndrew, che porta con sé oltre 30 anni di esperienza nelle transazioni biologiche, ha ricoperto il ruolo di Vice Presidente e Vice Presidente Senior dello Sviluppo Commerciale presso Sonnet, gestendo la strategia di partnership, le collaborazioni di ricerca e il portafoglio globale di proprietà intellettuale.
La nomina mira a rafforzare le iniziative di sviluppo commerciale di Sonnet mentre i loro asset FHAB avanzano nello sviluppo clinico. L'ampia esperienza del Dr. McAndrew include ruoli senior presso Oncobiologics (ora Outlook Therapeutics) e Bristol-Myers Squibb, dove ha gestito funzioni di sviluppo commerciale, licensing e marketing.
Sonnet BioTherapeutics (NASDAQ:SONN) ha nombrado a Stephen J. McAndrew, Ph.D., como Director Comercial, con efecto a partir del 17 de febrero de 2025. El Dr. McAndrew, que aporta más de 30 años de experiencia en transacciones biológicas, ha estado desempeñando el cargo de Vicepresidente y Vicepresidente Senior de Desarrollo Comercial en Sonnet, gestionando la estrategia de asociaciones, las colaboraciones de investigación y el portafolio global de propiedad intelectual.
La designación tiene como objetivo fortalecer las iniciativas de desarrollo comercial de Sonnet a medida que sus activos FHAB avanzan en el desarrollo clínico. La amplia experiencia del Dr. McAndrew incluye roles senior en Oncobiologics (ahora Outlook Therapeutics) y Bristol-Myers Squibb, donde gestionó funciones de desarrollo comercial, licencias y marketing.
Sonnet BioTherapeutics (NASDAQ:SONN)는 Stephen J. McAndrew 박사를 최고 사업 책임자로 임명했으며, 이는 2025년 2월 17일부터 유효합니다. McAndrew 박사는 생물학적 거래에서 30년 이상의 경험을 쌓아왔으며, Sonnet에서 사업 개발의 부사장 및 선임 부사장으로 근무하며 파트너십 전략, 연구 파트너십 및 글로벌 지적 재산 포트폴리오를 관리해왔습니다.
이번 임명은 FHAB 자산이 임상 개발로 나아가면서 Sonnet의 사업 개발 이니셔티브를 강화하는 것을 목표로 하고 있습니다. McAndrew 박사의 폭넓은 경험에는 Oncobiologics(현재 Outlook Therapeutics)와 Bristol-Myers Squibb에서의 고위직이 포함되며, 그곳에서 사업 개발, 라이센스 및 마케팅 기능을 관리했습니다.
Sonnet BioTherapeutics (NASDAQ:SONN) a nommé Stephen J. McAndrew, Ph.D., au poste de Directeur Commercial, à compter du 17 février 2025. Le Dr. McAndrew, qui possède plus de 30 ans d'expérience dans les transactions biologiques, a occupé les postes de Vice-Président et de Vice-Président Senior du Développement Commercial chez Sonnet, gérant la stratégie de partenariat, les collaborations de recherche et le portefeuille mondial de propriété intellectuelle.
Cette nomination vise à renforcer les initiatives de développement commercial de Sonnet alors que leurs actifs FHAB progressent dans le développement clinique. L'expérience extensive du Dr. McAndrew comprend des postes de direction chez Oncobiologics (aujourd'hui Outlook Therapeutics) et Bristol-Myers Squibb, où il a géré les fonctions de développement commercial, de licence et de marketing.
Sonnet BioTherapeutics (NASDAQ:SONN) hat Stephen J. McAndrew, Ph.D., zum Chief Business Officer ernannt, mit Wirkung zum 17. Februar 2025. Dr. McAndrew bringt über 30 Jahre Erfahrung im Bereich biologischer Transaktionen mit und war als Vizepräsident und Senior Vizepräsident für Geschäftsentwicklung bei Sonnet tätig, wo er die Partnerschaftsstrategie, Forschungskooperationen und das globale IP-Portfolio verwaltete.
Die Ernennung zielt darauf ab, die Geschäftsentwicklungsinitiativen von Sonnet zu stärken, während ihre FHAB-Vermögenswerte in der klinischen Entwicklung voranschreiten. Dr. McAndrews umfassende Erfahrung umfasst leitende Positionen bei Oncobiologics (jetzt Outlook Therapeutics) und Bristol-Myers Squibb, wo er die Bereiche Geschäftsentwicklung, Lizenzierung und Marketing leitete.
- Internal promotion maintains continuity and leverages existing company knowledge
- Appointment strengthens business development capabilities during clinical advancement phase
- Extensive experience in biologics transactions and partnerships could enhance commercialization opportunities
- None.
PRINCETON, N.J., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) (the "Company" or "Sonnet"), a clinical-stage company developing targeted immunotherapeutic drugs, announced today the appointment of Stephen J. McAndrew, Ph.D., as Chief Business Officer, effective February 17, 2025.
Dr. McAndrew brings more than 30 years of experience with various business models and types of transactional agreements involving biologics at different stages of development. During the course of his tenure at Sonnet, Dr. McAndrew has served as Vice President and then Senior Vice President, Business Development, and has been responsible for developing and leading the Company’s partnering strategy, establishing and managing current collaborative research partnerships, and managing the global intellectual property portfolio.
“Stephen is a seasoned industry leader with a demonstrated track record of business development, licensing and partnering experience. Since his start at Sonnet, he has been a valued member of the team and offers a key perspective and insight. As we look to continue executing on our corporate and clinical initiatives, I am pleased to expand and deepen Stephen’s role. We believe his expertise and skillset will play a pivotal role in the evolution of the Company, especially at a time when our FHAB assets are progressing further in their clinical development,” said Pankaj Mohan, Ph.D., Sonnet Founder and Chief Executive Officer.
“Now more than ever, we continue to believe in the potential of Sonnet’s innovative technology and targeted biologic product candidates with enhanced single- or bi-specific mechanisms. We believe with its proprietary plug and play capabilities, the Company is well positioned to optimize partnering opportunities and I am excited to drive that strategy forward at such a critical juncture for the Company,” added Dr. McAndrew. “With a deep knowledge of the Company and familiarity built since joining Sonnet, I look forward to applying my business development and negotiation expertise to establish key partnerships based on the emerging data-driven valuation of our FHAB assets – with the ultimate goal of bringing these innovative immunotherapy treatments to cancer patients in need.”
Prior to joining Sonnet, Dr. McAndrew served as Senior Vice President of Business Strategy & Development for Oncobiologics, Inc. (now Outlook Therapeutics, Inc.) from March 2014 to October 2019, and prior to this as Vice President of Business Development from February 2012 to March 2014, where he was responsible for developing and leading the revenue growth strategy, establishing and managing all collaborative research and commercial product partnerships, and sourcing various investment opportunities. Prior to Oncobiologics, Dr. McAndrew served in various business development roles at several biopharmaceutical companies from 2001 to 2011, where he was responsible for managing new business development, licensing and marketing functions. From 1993 to 2001, Dr. McAndrew also served in various positions of increasing responsibility at Bristol-Myers Squibb Company, including as the Director of Biotechnology Licensing within the External Science and Technology Department.
Dr. McAndrew earned his Ph.D. in Cellular and Molecular Biology from Ohio University, his Masters of Science in Molecular Genetics from SUNY at Albany and his Bachelors of Science from SUNY at Oswego.
About Sonnet BioTherapeutics Holdings, Inc.
Sonnet is an oncology-focused biotechnology company with a proprietary platform for developing targeted biologic drugs with single or bifunctional action. Known as FHAB (Fully Human Albumin-Binding), the technology utilizes a fully human single chain antibody fragment (scFv) that binds to and "hitch-hikes" on human serum albumin (HSA) for transport to target tissues. Sonnet's FHAB was designed to specifically target tumor and lymphatic tissue, with an improved therapeutic window for optimizing the safety and efficacy of immune modulating biologic drugs. FHAB platform is the foundation of a modular, plug-and-play construct for potentiating a range of large molecule therapeutic classes, including cytokines, peptides, antibodies and vaccines.
Sonnet’s lead program, SON-1010, or IL-12-FHAB, is in development for the treatment of solid tumors and ovarian cancer. SON-1010 is being evaluated in an ongoing Phase 1/2a study through a Master Clinical Trial and Supply Agreement, along with ancillary Quality and Safety Agreements, with Roche in combination with atezolizumab (Tecentriq®) for the treatment of platinum-resistant ovarian cancer (PROC). The Company is also evaluating its second program, SON-1210, an IL12-FHAB-IL15 for solid tumors, in collaboration with the Sarcoma Oncology Center to commence an investigator-initiated and funded Phase 1/2a study for the treatment of pancreatic cancer.
The Company’s SON-080 program is a low dose of rhIL-6 in development for Chemotherapy-Induced Peripheral Neuropathy (CIPN) and Diabetic Peripheral Neuropathy (DPN). SON-080 demonstrated encouraging results in a Phase 1b/2a clinical trial, being well tolerated with no evidence of a pro-inflammatory cytokine response. In October 2024, Sonnet announced an India license agreement with Alkem Laboratories, Inc. who will assume responsibility for advancing development of the SON-080 program into a Phase 2 study in DPN.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the outcome of the Company’s clinical trials, the Company's cash runway, the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
JTC Team, LLC
Jenene Thomas
908-824-0775
SONN@jtcir.com
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