Healthcare Industry News: immunotherapy
News Release - January 8, 2020
Compugen Announces Appointment of Dr. Oliver Froescheis as Senior Vice President, Corporate and Business DevelopmentHOLON, Israel, Jan. 8, 2020 -- (Healthcare Sales & Marketing Network) -- Compugen Ltd. (Nasdaq: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today announced the appointment of Oliver Froescheis, Ph.D., as Senior Vice President, Corporate and Business Development. In his role, Dr. Froescheis will oversee the Company's business development strategy and execution, reporting to Anat Cohen-Dayag, Ph.D., Compugen's President and CEO. Dr. Froescheis joins Compugen from Roche's Partnering organization where he most recently served as Director of Business Development and Licensing R&D Out-licensing.
"We are delighted to have an executive with Oliver's proven track record in the pharmaceutical industry join Compugen's management team," said Dr. Cohen-Dayag. "Oliver's breadth of healthcare experience and broad expertise in the development and licensing of pharmaceuticals across various therapeutic areas including immuno-oncology makes him a strong addition to our company as we work to expand our innovative immuno-oncology pipeline and pursue additional collaboration opportunities."
"Compugen has made tremendous progress in recent years in advancing first-in-class immuno-oncology drug candidates to the clinic, and recently presenting initial promising clinical data for its lead program, COM701," said Oliver Froescheis, Ph.D. "In addition, Compugen has an impressive track record of collaborations with three big pharma players having successfully leveraged its innovative immuno-oncology portfolio generated from its unique computational capabilities. This innovative portfolio and underlying computational capabilities provide opportunities for future business collaborations. I am excited to join Compugen's management team to support this effort and be a part of Compugen's future growth."
Dr. Oliver Froescheis brings to Compugen over 20 years of experience in the pharmaceutical industry where he held positions in research, project management, marketing and business development. Dr. Froescheis joins Compugen from Roche, where he spent the last 12 years in the Partnering organization, initially serving as Global Due Diligence Director for in-licensing and M&A projects, then acting as Director of Business Development & Licensing, responsible for oncology/immuno-oncology partnering projects and most recently leading R&D out-licensing across therapeutic areas. Dr. Froescheis holds a Diploma in Chemistry and a Ph.D. in Analytical Chemistry, both from the University of Ulm, Germany.
Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop first-in-class therapeutics in the field of cancer immunotherapy. The Company's therapeutic pipeline consists of immuno-oncology programs against novel drug targets it has discovered computationally, including T cell immune checkpoints and additional early-stage immune-oncology programs focused largely on myeloid targets. Compugen's business model is to selectively enter into collaborations for its novel targets and related drug product candidates at various stages of research and development. The Company is headquartered in Israel, with facilities in South San Francisco, CA. Compugen's shares are listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements regarding expansion of our innovative immuno-oncology pipeline and additional collaboration opportunities . These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Among these risks: Compugen's business model is substantially dependent on entering into collaboration agreements with third parties and Compugen may not be successful in generating adequate revenues or commercializing aspects of its business model. Moreover, the development and commercialization of therapeutic candidates involve many inherent risks, including failure to progress to clinical trials or, if they progress to or enter clinical trials, failure to advance through clinical development or receive regulatory approval. These and other factors, including the ability to finance the Company, are more fully discussed in the "Risk Factors" section of Compugen's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission (SEC) as well as other documents that may be subsequently filed by Compugen from time to time with the SEC. In addition, any forward-looking statements represent Compugen's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.
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