NEW YORK, April 16, 2018 (GLOBE NEWSWIRE) -- Stemline Therapeutics, Inc. (Nasdaq:STML), a clinical-stage biopharmaceutical company developing novel oncology therapeutics, today announced expansion of its Board of Directors to include members with expertise in commercial, legal and finance.
Stemline has appointed Mr. Darren Cline, Executive Vice President, Commercial at Seattle Genetics, to its Board. Mr. Cline is a veteran biopharmaceutical executive with over 25 years of commercial experience, including in the hematology and oncology, orphan and ultra-orphan arenas. He has an established track record of success in commercial leadership roles. The Company also broadened its legal and financial expertise with the addition of Messrs. Dan Hume and Mark Sard to its Board. Mr. Hume is currently a managing partner at Kirby McInerney, LLP, where his law practice focuses on securities law regulation, structured finance, antitrust, and civil litigation. Mr. Hume is member of the board of directors of TG Therapeutics (Nasdaq:TGTX), a late clinical stage biopharmaceutical company, and National Holdings Corporation (Nasdaq:NHLD), a publicly listed financial services company. Mr. Sard has a thirty-plus year career in venture capital, private equity, and underwriting. Mr. Sard is a founder and principal at Frontier Equities VC, a generalist venture capital firm that invests in early to mid-stage companies across a wide array of sectors.
Ivan Bergstein, MD, CEO of Stemline, commented “We are very pleased to have access to the diverse experiences that our three new Board members bring to Stemline. Darren’s accomplished commercial background, as well as his experience in executive leadership positions at public biopharmaceutical companies, coupled with Dan and Mark’s legal and financial expertise, are valuable additions to our Board, especially as we advance closer to potential approval and commercialization.”
Mr. Cline commented, “I am honored to join Stemline as a Director at this exciting time for the company. I have been closely following Stemline’s progress and have been very impressed with the team and its track record of execution. I am eager to leverage my experience in relevant areas as Stemline works to unlock value from SL-401 and its other pipeline candidates. I look forward to working diligently with the Stemline team to deliver on its goal of improving the lives of patients with cancer.”
New Board Member Biographies
Darren Cline is an accomplished biopharmaceutical executive with over 25 years of commercial experience, including hematology and oncology, orphan and ultra-orphan arenas. Mr. Cline is Executive Vice President, Commercial at Seattle Genetics, where he oversees all marketing, sales and managed markets. He was directly involved in the commercial build out for the launch of ADCETRIS, an antibody-based biologic FDA approved for treatment of certain hematologic cancers, and he played an integral role driving ADCETRIS’ continued growth to over $300 million in revenue. Prior to Seattle Genetics, Mr. Cline was at Alexion Pharmaceuticals, where he was part of the initial commercial leadership team for the Soliris launch, helping to build out key sales functions that were instrumental in Soliris becoming a billion-dollar brand. Mr. Cline received his undergraduate degree from San Diego State University and his MBA from Pepperdine University.
Daniel Hume is currently a managing partner at Kirby McInerney, LLP. Mr. Hume's law practice focuses on securities law regulation, structured finance, antitrust, and civil litigation. Mr. Hume is member of the board of directors of TG Therapeutics (Nasdaq:TGTX), a late clinical stage biopharmaceutical company, and National Holdings Corporation (Nasdaq:NHLD), a financial services company. Mr. Hume is admitted to the New York State Bar and federal courts around the country, including the United States Supreme Court. Mr. Hume received a B.A. in philosophy and graduated magna cum laude from the State University of New York at Albany, and earned a J.D. from the Columbia University Law School, where he served as Notes Editor for the Columbia Journal of Environmental Law.
Mark Sard has a thirty-plus year career in venture capital, private equity, and underwriting. Currently, Mr. Sard is a founder and principal at Frontier Equities VC, a generalist venture capital firm that invests in early to mid-stage companies. Past investments, with successful exits, include Glaceau/Vitaminwater sold to Coca Cola and Nurture Inc./Happy Baby sold to Group Danone. Mr. Sard also structured over $3 billion in financing for companies with valuations from $10 million to Fortune 500 corporations. Previously, Mr. Sard was the director of acquisitions for a boutique investment management firm with over $2 billion in assets, sourcing over $500 million in institutional investments. Mr. Sard was an early angel investor in Stemline. Mr. Sard received a B.A. in economics from the University of Pennsylvania, with additional coursework in advanced applied mathematics.
About Stemline Therapeutics
Stemline Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel oncology therapeutics. Stemline is developing three clinical stage product candidates, SL-401, SL-801, and SL-701. SL-401 is a targeted therapy directed to the interleukin-3 receptor (CD123) present on a range of malignancies. SL-401 has completed a pivotal trial in blastic plasmacytoid dendritic cell neoplasm (BPDCN), for which it was granted breakthrough therapy designation (BTD). The pivotal trial met its primary endpoint, and a rolling BLA submission has been initiated. SL-401 is also being evaluated in clinical trials in additional indications including chronic myelomonocytic leukemia (CMML), myelofibrosis (MF), acute myeloid leukemia (AML), and myeloma. SL-801 is a novel oral small molecule reversible inhibitor of XPO1 that is currently in a Phase 1 trial of patients with advanced solid tumors; dose escalation is ongoing. SL-701, an immunotherapeutic, has completed a Phase 2 trial in patients with second-line glioblastoma; data and next steps for the program are being evaluated.
Forward-Looking Statements
Some of the statements included in this press release may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The factors that could cause our actual results to differ materially include: the success and timing of our BLA submission to the FDA; the success and timing of our clinical trials and preclinical studies for our product candidates, including site initiation, institutional review board approval, scientific review committee approval, patient accrual, safety, tolerability and efficacy data observed, and input from regulatory authorities including the risk that the FDA or other ex-U.S. national drug authority ultimately does not agree with our data, find our data supportive of approval, or approve any of our product candidates; our plans to develop and commercialize our product candidates; market acceptance of our products; reimbursement available for our products; our available cash and investments; our ability to obtain and maintain intellectual property protection for our product candidates; our ability to obtain and maintain intellectual property protection for our product candidates; our ability to manufacture; the performance of third-party manufacturers, clinical research organizations, clinical trial sponsors and clinical trial investigators; and other risk factors identified from time to time in our reports filed with the SEC. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.
Contact
Investor Relations
Stemline Therapeutics, Inc.
750 Lexington Avenue
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New York, NY 10022
Tel: 646-502-2307
Email: investorrelations@stemline.com