Turning Point Therapeutics Announces Appointment of Steve Sabus as Chief Commercial Officer

Rhea-AI Summary

Turning Point Therapeutics announced the appointment of Steve Sabus as Chief Commercial Officer, effective May 31, 2022. Sabus brings 15 years of sales experience from Astellas Pharma, where he scaled a $3 billion oncology franchise. His leadership was pivotal in launching drugs like Xtandi and Padcev. The company aims to leverage his expertise as it transitions from a clinical to a commercial stage, especially in preparation for the potential launch of repotrectinib, a promising cancer therapy currently in advanced studies.

Positive

• Steve Sabus has extensive oncology experience, which may enhance Turning Point's commercialization efforts.
• Sabus's leadership could facilitate a successful launch of repotrectinib, potentially increasing revenue.

Negative

• Potential continuity and experience gaps may arise due to the leadership change.

SAN DIEGO, May 16, 2022 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a clinical-stage precision oncology company designing and developing novel targeted therapies for cancer treatment, today announced the appointment of Steve Sabus as Chief Commercial Officer, effective as of May 31, 2022.

Prior to Turning Point, Mr. Sabus spent 15 years in roles with increasing levels of sales responsibility at Astellas Pharma, most recently serving as the Head of Oncology leading a group of over 300 team members. In this role he provided executive leadership to scale the company’s $3 billion U.S. oncology franchise by launching and growing new products. His achievements include successfully expanding the market for Xtandi^®, directing the ongoing launch of Padcev^®, and developing the commercial strategy for the potential launch of zolbetuximab, an investigational monoclonal antibody therapy targeting Claudin18.2.

Earlier in his tenure, Mr. Sabus headed the Astellas $2 billion U.S. Medical Specialties business unit, and was the General Manager of Astellas Canada, where the team launched Xospata^® and new indications for Xtandi^®.

Before Astellas, Steve spent 16 years at Johnson & Johnson in roles of increasing responsibility in the commercial organization.

“I am excited to welcome Steve to the team. His broad commercial background within oncology across multiple modalities, including small molecules and ADCs, is highly valuable to us,” said Athena Countouriotis, M.D., president and CEO. “Steve’s leadership experience at Astellas demonstrated his keen understanding of the oncology market and will be instrumental as we grow our internal team and prepare for the potential commercialization of repotrectinib.”

“I look forward to joining the Turning Point team at this important time,” said Mr. Sabus. “I look forward to leveraging my oncology commercial leadership as we pursue our evolution from a clinical stage to a commercial stage company. I’m impressed by the repotrectinib commercial strategy the team has built and my initial focus will be on preparing the organization for a successful launch following regulatory approval. I believe repotrectinib represents a significant opportunity and I am eager to help maximize that opportunity as this potentially best-in-class compound advances towards anticipated regulatory approval.”

About Turning Point Therapeutics Inc.
Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead drug candidate, repotrectinib, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is being studied in a registrational Phase 2 study in adults and a Phase 1/2 study in pediatric patients, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. The company’s pipeline of drug candidates also includes elzovantinib, targeting MET, CSF1R and SRC, which is being studied in a Phase 1 trial of patients with advanced or metastatic solid tumors harboring genetic alterations in MET; TPX-0046, targeting RET, which is being studied in a Phase 1/2 trial of patients with advanced or metastatic solid tumors harboring genetic alterations in RET; TPX-0131, a next-generation ALK inhibitor, which is being studied in a Phase 1/2 trial of previously treated patients with ALK-positive advanced or metastatic non-small cell lung cancer; and TPX-4589 (LM-302), a novel ADC targeting Claudin18.2 which is being studied in a Phase 1 study in gastrointestinal cancers. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.

Forward Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans”, “will”, “believes,” “anticipates,” “expects,” “intends,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements include statements regarding, among other things, the best-in-class potential of repotrectinib, and plans regarding the regulatory approval path and commercialization strategy for repotrectinib. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Turning Point Therapeutics’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Turning Point Therapeutics’ business in general, risks and uncertainties related to the impact of the COVID-19 pandemic to Turning Point Therapeutics’ business and the other risks described in Turning Point Therapeutics’ filings with the Securities and Exchange Commission (SEC), including its quarterly report on Form 10-Q filed with the SEC on May 10, 2022. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contact:
Adam D. Levy, PhD., MBA
ir@tptherapeutics.com
858-867-6366

FAQ

Who is Steve Sabus and what is his role at Turning Point Therapeutics?

Steve Sabus has been appointed Chief Commercial Officer at Turning Point Therapeutics, effective May 31, 2022.

What previous experience does Steve Sabus have in the pharmaceutical industry?

Steve Sabus has 15 years of experience at Astellas Pharma, where he led oncology sales and launched multiple successful products.

What is the significance of Steve Sabus joining Turning Point Therapeutics?

His appointment is expected to strengthen the company's commercial strategy as it prepares for the potential launch of repotrectinib.

What is repotrectinib and why is it important for Turning Point Therapeutics?

Repotrectinib is a promising next-generation kinase inhibitor targeting specific oncogenic drivers in cancer, currently in advanced clinical studies.

When did the appointment of Steve Sabus become effective?

The appointment of Steve Sabus as Chief Commercial Officer became effective on May 31, 2022.