Turning Point Therapeutics Announces Board Changes
Turning Point Therapeutics (NASDAQ: TPTX) announces the appointment of Barbara Bodem to its board of directors as Chair of the Audit Committee. Bodem, with over 30 years of experience, previously held key finance roles at major companies and is currently CFO at Hill-Rom Holdings. Garry Nicholson has been named interim Board Chair following the departure of Sheila Gujrathi and Jacob Chacko. Turning Point is progressing in precision oncology, continuing to develop innovative therapies targeting cancer's genetic drivers.
- Appointment of Barbara Bodem as Chair of Audit Committee, enhancing leadership with her extensive experience.
- Garry Nicholson appointed interim Board Chair, ensuring continuity in governance.
- Strengthened board could positively impact strategic direction and operational oversight.
- Departure of former board chair and another board member may indicate governance instability.
- Uncertainty regarding timeline for the appointment of a permanent Board Chair.
Barbara Bodem Joins Board, Appointed Chair of Audit Committee
Garry Nicholson Appointed as Interim Board Chair
SAN DIEGO, March 31, 2021 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a precision oncology company developing next-generation therapies that target genetic drivers of cancer, today announced the addition of Barbara Bodem to its board of directors. Ms. Bodem brings extensive operating and board experience, and has been appointed to chair the audit committee.
In addition, Garry Nicholson, an existing member of the Turning Point board, has been named interim board chair while a formal search for a permanent chair is ongoing. Former board chair Sheila Gujrathi, M.D., and Jacob Chacko, M.D. have stepped down from the board concurrently with these changes.
“Barbara brings an impressive depth of expertise from her public company operating and board experience to the Turning Point board,” said Athena Countouriotis, M.D., president and CEO. “On behalf of the board, we are excited to work alongside her and draw upon her insights and industry experience as we continue to advance the company. We also want to thank Sheila and Jacob for their contributions to Turning Point during a transformational period, and wish them both tremendous success with their current and future endeavors.”
Ms. Bodem is CFO of Hill-Rom Holdings, Inc. During her more than 30-year career, she also served as senior vice president of Finance at Mallinckrodt Pharmaceuticals, vice president of Global Commercial Finance at Hospira Inc., and in a variety of finance roles for over 15 years at Eli Lilly in both the U.S. and U.K., including serving as CFO of Lilly Oncology. She previously served on the board of Invacare Corp.
Ms. Bodem said, “I look forward to joining this impressive group of directors and talented management team to help Turning Point continue to make progress towards its vision to be the leader in precision oncology.”
About Turning Point Therapeutics Inc.
Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered 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 TPX-0022, 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; and TPX-0131, a next-generation ALK inhibitor. Turning Point’s next-generation kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. 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. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic and commercial potential of Turning Point Therapeutics’ drug candidates, the progress and timing of Turning Point Therapeutics’ development programs, and the regulatory approval path 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. Words such as “plans”, “will”, “believes,” “anticipates,” “expects,” “intends,” “goal,” “potential” and similar expressions are intended to identify 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’s business and the other risks described in Turning Point Therapeutics’ filings with the SEC. 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:
Jim Mazzola
jim.mazzola@tptherapeutics.com
858-342-8272
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