WATERTOWN, Mass. and GOSSELIES, Belgium, March 06, 2024 (GLOBE NEWSWIRE) -- iTeos Therapeutics, Inc. (Nasdaq: ITOS), a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of immuno-oncology therapeutics for patients, today announced the appointment of Jill DeSimone to its Board of Directors, effective March 7, 2024, where she will serve on the Company’s audit committee.
“Expanding our board with industry leaders and oncology veterans with commercial, scientific, and corporate portfolio strategy experience is of the utmost importance for iTeos. After the recent appointment of Servier’s David Lee, we are thrilled to welcome Jill DeSimone to our Board of Directors during an important time in iTeos’ evolution. Jill and David’s unique insights will be of tremendous value to our organization as we continue on our path to becoming a late-stage biopharmaceutical company,” said Michel Detheux, Ph.D., president and chief executive officer of iTeos.
“By leveraging its comprehensive knowledge of tumor biology, iTeos has advanced a portfolio of promising therapeutic candidates addressing key immunological pathways involved in the development of cancer,” said Ms. DeSimone. “I look forward to working with the iTeos leadership team and offering my global business and commercial insights to help the company achieve its goal of bringing transformational therapies to patients living with cancer.”
With over 40 years of global business expertise in life sciences, Ms. DeSimone is recognized for her role as President of U.S. Oncology at Merck & Co., Inc., where she established the company’s oncology division, growing it from less than $500 million in annual revenue to $9 billion in eight years. Additionally, she led three key product launches and more than 45 indication launches, including Keytruda®, the fastest growing product in the company’s history. Prior to joining Merck, Ms. DeSimone was Senior Vice President of Global Women’s Health at Teva Pharmaceutical Industries, Ltd. She began her career at Bristol Myers Squibb and held roles of increasing responsibility culminating as the Senior Vice President of U.S. Oncology, a role in which she helped launch the first FDA-approved CTLA-4 immune checkpoint inhibitor, Yervoy®. Ms. DeSimone currently serves as a board member for Affini-T Therapeutics, Inc., Kinnate Biopharma Inc., Oncternal Therapeutics, Inc., Praxis Precision Medicine, Inc., as well as the Florida Cancer Specialists Foundation, a nonprofit organization that delivers non-medical aid for individuals undergoing treatment for cancer, and Swim Across America, a foundation that awards grants to cancer research and patient programs. She earned a B.S. in Pharmacy from Northeastern University and completed a fellowship with the Wharton School of the University of Pennsylvania.
About iTeos Therapeutics, Inc.
iTeos Therapeutics is a clinical-stage biopharmaceutical company pioneering the discovery and development of a new generation of immuno-oncology therapeutics for patients. iTeos Therapeutics leverages its deep understanding of tumor immunology and immunosuppressive pathways to design novel product candidates with the potential to restore the immune response against cancer. The Company’s innovative pipeline includes three clinical-stage programs targeting novel, validated immuno-oncology pathways designed with optimized pharmacologic properties for improved clinical outcomes, including the TIGIT/CD226 axis and the adenosine pathway. iTeos Therapeutics is headquartered in Watertown, MA with a research center in Gosselies, Belgium.
Internet Posting of Information
iTeos routinely posts information that may be important to investors in the 'Investors' section of its website at www.iteostherapeutics.com. The Company encourages investors and potential investors to consult our website regularly for important information about iTeos.
Forward-Looking Statements
This press release contains forward-looking statements. Any statements that are not solely statements of historical fact are forward-looking statements. Words such as “believe,” “anticipate,” “plan,” “expect,” “will,” “may,” “intend,” “prepare,” “look,” “potential,” “possible” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements relating to the potential benefits of product candidates; the value our new board members bring to iTeos; and iTeos’ path to becoming a late-stage biopharmaceutical company.
These forward-looking statements involve risks and uncertainties, many of which are beyond iTeos’ control. Actual results could materially differ from those stated or implied by these forward-looking statements as a result of such risks and uncertainties. Known risk factors include the following: market conditions; challenges and uncertainties inherent in product research and development and manufacturing limitations; the data for our product candidates may not be sufficient for obtaining regulatory approval to move into later stage trials or to commercialize products; iTeos may not be able to execute on its business plans, including meeting its expected or planned regulatory milestones and timelines, research and clinical development plans, and bringing its product candidates to market, for various reasons, some of which may be outside of iTeos’ control, including possible limitations of company financial and other resources, manufacturing limitations that may not be anticipated or resolved for in a timely manner, negative developments in the field of immuno-oncology, such as adverse events or disappointing results, including in connection with competitor therapies, and regulatory, court or agency decisions such as decisions by the United States Patent and Trademark Office with respect to patents that cover our product candidates; and those risks identified under the heading “Risk Factors” in iTeos’ Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (SEC) as well as other SEC filings made by the Company which you are encouraged to review. Statements regarding the Company’s cash runway do not indicate when or if the Company may access the capital markets.
Any of the foregoing risks could materially and adversely affect iTeos’ business, results of operations and the trading price of iTeos’ common stock. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. iTeos does not undertake any obligation to publicly update its forward-looking statements other than as required by law.
For further information, please contact:
Investor Contact:
Carl Mauch
iTeos Therapeutics, Inc.
carl.mauch@iteostherapeutics.com
Media Contact:
media@iteostherapeutics.com
