TYME Technologies, Inc. Announces Changes to its Board of Directors

Rhea-AI Summary

TYME Technologies, Inc. announces key leadership changes, appointing Christine D. Baker to its Board of Directors. With over 30 years in biotech, her expertise in business development and commercialization will guide the company's cancer therapies. Douglas A. Michels becomes Chairman of the Board, bringing 39 years of healthcare experience. The changes aim to strengthen TYME's position in developing cancer metabolism-based therapies (CMBTs™) and enhance its strategic direction.

Positive

• Christine D. Baker's extensive experience is expected to enhance TYME's business development and commercialization efforts.
• Douglas A. Michels's leadership role as Chairman is anticipated to bring valuable insights to the company.

Negative

• Steven Hoffman stepping down as Chief Scientific Officer may raise concerns about continuity in scientific leadership.

– Industry veteran, Christine D. Baker, joins Board of Directors

– Douglas A. Michels appointed Chairman of the Board

BEDMINSTER, N.J.--(BUSINESS WIRE)-- TYME Technologies, Inc. (Nasdaq: TYME) (the Company or TYME), an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™), today announced changes to its Board of Directors.

Christine D. Baker Named to Board of Directors

The Company is pleased to announce that Christine D. Baker has been appointed to TYME’s Board of Directors. Ms. Baker brings over 30 years of experience in the biotech/pharmaceutical industry, with expertise in business development, commercialization, and drug development strategies. She is currently the Chief Business Officer of Hookipa Pharma, a public, clinical-stage biotechnology company, where she leads Business Development, Alliance Management, Commercial Strategy, Intellectual Property, and Communications. Prior to this, Ms. Baker provided commercial development consulting services to biotech companies as the principal of CD Baker Consulting and was also the Chief Business Officer of EpicentRX, a privately held clinical-stage biotechnology company. She also held several management positions at Novartis Pharmaceuticals Corporation, including Vice President and Executive Director, Oncology Early Commercial Strategy. Ms. Baker began her career at Schering-Plough, where she advanced through a variety of roles in R&D, Marketing and Sales, Business Development, and General Management. Ms. Baker holds a degree in Chemistry from Dartmouth College and an MBA from Rutgers University.

“We are delighted to welcome Christine to our Board of Directors. In addition to Christine’s commercial and business development experience, her considerable industry expertise will be instrumental in helping to guide TYME in our quest to eradicate advanced cancers,” said Douglas A. Michels, Chairman of the Board of TYME.

“I am impressed with TYME’s pipeline and novel approach to finding solutions that make a difference in people’s lives. As a member of the Board of Directors, I look forward to sharing my experience and perspectives with management as we seek to develop our pipeline,” said Ms. Baker.

The Company is also announcing that co-founder Steven Hoffman has stepped down from his role as Chief Scientific Officer but will continue to support TYME’s efforts as a member of the Board of Directors.

Douglas A. Michels Named Chairman of the Board

Mr. Michels, who currently serves on TYME’s Board of Directors as Lead Independent Director, will assume the role of Chairman of the Board.

Mr. Michels, who has served on TYME’s Board of Directors since October 2018, has over 39 years of experience in the healthcare industry. Most recently, he served as President and Chief Executive Officer of OraSure Technologies, Inc. Prior to OraSure, Mr. Michels spent 19 years with Johnson & Johnson in a range of executive positions, including as President of Ortho Clinical Diagnostics International and President of Johnson & Johnson Healthcare Systems. He currently serves on the Board of Directors of West Pharmaceutical Services, Inc. (NYSE:WST). In February 2010, Mr. Michels was appointed to the Presidential Advisory Council on HIV/AIDS by President Barack Obama.

“Mr. Michels has brought valuable insights to TYME during the past four years. His skillset and experience make him well suited to serve as our Chairman at this time,” stated Richie Cunningham, Chief Executive Officer of TYME.

About TYME Technologies, Inc.

TYME is an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™) that are intended to be effective across a broad range of solid tumors and hematologic cancers, while also maintaining patients’ quality of life through relatively low toxicity profiles. Unlike targeted therapies that attempt to regulate specific mutations within cancer, the Company’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to cause cancer cell death.

The Company is currently focused on developing its novel compound, SM-88, its preclinical pipeline of novel CMBT^TM programs, as well as TYME-19 as a potential therapeutic for SARS CoV-2 diseases. The Company believes that early clinical results demonstrated by SM-88 in multiple advanced cancers, including prostate, sarcomas and breast, reinforce the potential of its emerging CMBT™ pipeline.

For more information about the Company, visit www.tymeinc.com and connect on Facebook, LinkedIn, and Twitter.

About SM-88

SM-88 is an oral investigational modified proprietary tyrosine derivative that is believed to interrupt the metabolic processes of cancer cells by breaking down the cells’ key defenses and leading to cell death through oxidative stress and exposure to the body’s natural immune system. Clinical trial data have shown that SM-88 has demonstrated encouraging tumor responses across 15 different cancers, including lung, breast, prostate and sarcoma cancers with minimal serious grade 3 or higher adverse events. SM-88 is being evaluated in a Phase II study evaluating SM-88 in breast cancer (HR+/HER2-), as well as continuing enrollment of a Phase II study in high-risk metastatic sarcomas. SM-88 is an investigational therapy that is not approved for any indication in any disease.

Learn more.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the Private Securities Litigation Reform Act that involve substantial risks and uncertainties. Such forward-looking statements within this press release include, without limitation, statements regarding our drug candidates and technologies (including SM-88 and TYME- 18) and their clinical potential and non-toxic safety profiles, our drug development plans and strategies, ongoing and planned preclinical or clinical trials, preliminary data results and the therapeutic design and mechanisms of our drug candidates. The words “believes,” “expects,” “hopes,” “may,” “will,” “plan,” “intends,” “estimates,” “could,” “should,” “would,” “continue,” “seeks,” “anticipates,” and similar expressions (including their use in the negative) are intended to identify forward-looking statements. Forward-looking statements can also be identified by discussions of future matters such as: the effect of the COVID-19 pandemic and the associated impact on the national and global economy as well as impacts on the Company's ongoing clinical trials and ability to analyze data from those trials; the cost of development and potential commercialization of our lead drug candidate and of other new product candidates; expected releases of interim or final data from our clinical trials; possible collaborations; the timing, scope, status, objectives of our ongoing and planned trials; the success of management transitions and strategic initiatives; and other statements that are not historical. The forward-looking statements contained in this press release are based on management’s current expectations and projections which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any historical results and future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to: the severity, duration, and economic impact of the COVID-19 pandemic; our ability to achieve the intended benefits of our strategic initiatives; that certain information is of a preliminary nature and may be subject to change; uncertainties inherent in the cost and outcomes of research and development, including the cost and availability of acceptable-quality clinical supply, and the ability to achieve adequate start and completion dates, as well as uncertainties in clinical trial design and patient enrollment, dropout or discontinuation rates; the possibility of unfavorable study results, including unfavorable new clinical data, additional analyses of existing data and results that may lead to a discontinuation of trials; risks associated with early, initial data, including the risk that the final data from any clinical trials may differ from prior or preliminary study data or analyses and may not support further clinical development; and that past reported data are not necessarily predictive of future patient or clinical data outcomes; whether and when any applications or other submissions for SM-88 or other drug candidates may be filed with regulatory authorities; whether and when regulatory authorities may approve any applications or submissions; decisions by regulatory authorities regarding labeling and other matters that could affect commercial availability of SM-88 or other drug candidates; the ability of TYME and its collaborators to develop and realize collaborative synergies; competitive developments; the ability of TYME to maintain compliance with Nasdaq listing standards; and the factors described in the section captioned “Risk Factors” of each of TYME’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021 filed with the U.S. Securities and Exchange Commission (“SEC”) on June 10, 2021 and our Quarterly Report on Form 10-Q for the period ended December 31, 2021 filed with the SEC on February 11, 2022, as well as subsequent reports we file from time to time with the U.S. Securities and Exchange Commission available at www.sec.gov.

The information contained in this press release is as of its release date and TYME assumes no obligation to update forward-looking statements contained in this release as a result of future events or developments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220325005096/en/

Investor Relations:

Lisa M. Wilson, In-Site Communications, Inc.

T: 212-452-2793

E: lwilson@insitecony.com

Source: Tyme Technologies, Inc.

FAQ

What are the recent changes to the Board of Directors of TYME Technologies?

TYME Technologies has appointed Christine D. Baker to its Board and Douglas A. Michels as Chairman of the Board.

How will Christine D. Baker's appointment impact TYME Technologies?

With over 30 years of biotech experience, Baker's appointment is expected to strengthen TYME's business development and commercialization strategies.

Why has Steven Hoffman stepped down from his position at TYME?

Steven Hoffman has stepped down as Chief Scientific Officer but will continue to support the company as a Board member.

What is Douglas A. Michels's background related to TYME Technologies?

Michels has over 39 years of healthcare industry experience and has served on TYME's Board since October 2018.

What is TYME Technologies focusing on with its CMBTs?

TYME is developing cancer metabolism-based therapies (CMBTs™) intended to effectively treat a variety of cancers while minimizing toxicity.

How does TYME's CMBT approach differ from traditional cancer therapies?

TYME's approach targets the metabolic weaknesses in cancer cells rather than specific mutations, aiming for broader efficacy.