Full Press Release Details
SOUTH SAN FRANCISCO, Calif., March 23, 2022 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of conditionally activated oncology therapeutics, today announced that Frederick W. Gluck is retiring from its board of directors, effective June 30th, 2022.
“It has been an honor to serve on the CytomX board since the company’s founding,” said Frederick W. Gluck. “With a deep and differentiated clinical pipeline, a world class team and strong partnerships, CytomX is well positioned to deliver on its vision of bringing safer and more effective therapies to cancer patients and I wish the company continued success in the years to come.”
Mr. Gluck has served as a member of the CytomX Therapeutics board since the company’s founding in 2008. He was a co-founder of CytomX, LLC, the predecessor company, and served as its chairman of the board and chief executive officer from 2006 to 2008.
“As our co-founder, Fred’s wide ranging strategic acumen has been instrumental in shaping our corporate evolution, positioning CytomX as a leader in the field of conditional activation of cancer therapeutics,” said Sean McCarthy, D.Phil., chief executive officer and chairman of the board of directors. “We are grateful for Fred’s many valuable contributions to CytomX and the board throughout the years, and we wish him all the best in his retirement.”
Following Mr. Gluck’s retirement, CytomX’s board will consist of eight directors, seven of whom are considered as independent under NASDAQ rules.
About CytomX Therapeutics, Inc.
Forward-Looking Statements
This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that are difficult to predict, may be beyond our control, and may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in such statements. Accordingly, you should not rely on any of these forward-looking statements, including those relating to the potential benefits, safety and efficacy or progress of CytomX’s or any of its collaborative partners’ product candidates, including praluzatamab ravtansine (CX-2009), CX-2029, BMS-986249, BMS-986288, pacmilimab, and CX-904, the potential benefits or applications of CytomX’s Probody platform technology, CytomX’s ability to develop and advance product candidates into and successfully complete clinical trials, including the ongoing and planned clinical trials of praluzatamab ravtansine, CX-2029, BMS-986249, BMS-986288, pacmilimab, and CX-904, and the timing of the commencement of clinical trials, initial and ongoing data availability, investigational new drug applications and other development milestones. Risks and uncertainties that contribute to the uncertain nature of the forward-looking statements include: the unproven nature of CytomX’s novel Probody Platform technology; CytomX’s clinical trial product candidates, including CX-904, are in the initial stages of clinical development and its other product candidates are currently in preclinical development, and the process by which preclinical and clinical development could potentially lead to an approved product is long and subject to significant risks and uncertainties, including the risk that the COVID-19 worldwide pandemic may continue to negatively impact the business, research and clinical operations of CytomX or its partners, including the development of preclinical drug candidates due to delays in and disruption of research activities and the development of clinical drug candidates due to delays in or disruption of clinical trials, including impacts on the enrollment of patients in clinical trials or other clinical trial disruptions; the possibility that the results of early clinical trials may not be predictive of future results; the possibility that CytomX’s clinical trials will not be successful; the possibility that current preclinical research may not result in additional product candidates; CytomX’s dependence on the success of praluzatamab ravtansine, CX-2029, BMS-986249, BMS-986288, pacmilimab, and CX-904; CytomX’s reliance on third parties for the manufacture of the Company’s product candidates; and possible regulatory developments in the United States and foreign countries. Additional applicable risks and uncertainties include those relating to our preclinical research and development, clinical development, and other risks identified under the heading "Risk Factors" included in CytomX’s Annual Report on Form 10-K filed with the SEC on March 1, 2022. The forward-looking statements contained in this press release are based on information currently available to CytomX and speak only as of the date on which they are made. CytomX does not undertake and specifically disclaims any obligation to update any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.
Probody is a U.S. registered trademark of CytomX Therapeutics, Inc.
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