BioTheryX, Inc. Announces the Appointment of BioPharma Finance Veteran Peter N. Crnkovich to Board of Directors
CHAPPAQUA, N.Y., Nov. 11, 2019 /PRNewswire/ -- BioTheryX, Inc. (“BioTheryX”), a clinical stage biotechnology company creating new classes of drugs for unmet medical needs based on targeted protein degradation and multi-kinase inhibition, today announced the appointment of Peter N. Crnkovich to its Board of Directors. Since September 2018 Mr. Crnkovich has served as a Senior Consultant at the Company. Mr. Crnkovich currently serves as a Senior Advisor at Morgan Stanley, and prior to his retirement from Morgan Stanley after 34 years, he held a variety of positions there, including most recently as Chairman of the Global Health Care Group in investment banking for over a decade. Mr. Crnkovich is also a Senior Advisor at Riboscience LLC, an emerging biopharmaceutical company. Mr. Crnkovich received a B.S. from Georgetown University and an MBA from the Stanford Graduate School of Business.
“We are delighted to add Peter Crnkovich as a Director of BioTheryX,” said David Stirling, CEO and Founder of BioTheryX. “His vast experience in the biopharma capital markets and as a strategic advisor to companies in the biopharma industry will be of tremendous value as BioTheryX enters the clinic with its lead multi-kinase inhibitor, and drives forward its first-in-class “molecular glue” Protein Homeostatic Modulators (“PHMs®”) and bifunctional protein degraders.”
In addition to Mr. Crnkovich, the BioTheryX Board currently includes:
BioTheryX was founded by the drug development team behind the remarkable IMiDs® franchise of compounds (a highly successful class of anti-cancer drugs), and is applying its extensive and proven commercial experience to deliver efficacious therapies to patients with unmet medical needs. Its lead drug candidates are orally available small molecules for the treatment of cancers and inflammatory diseases. In addition to its BTX-A51 clinical-stage lead multi-kinase inhibitor, BioTheryX’s platform technology is in the field of targeted protein degradation. This technology uses the body’s own protein disposal system to selectively degrade and remove disease-causing proteins. It has potential applicability to a very broad range of disease targets, including a wide range of targets that have to date been considered “undruggable.” In this area, BioTheryX’s pre-clinical assets include a large and growing library of novel small molecule, cereblon-binding targeted protein degraders, which BioTheryX has termed Protein Homeostatic Modulators, or PHM®. These IP-protected compounds are biologically active against a number of high value therapeutic targets in oncology, inflammation and other diseases. In addition to the therapeutic potential of these “molecular glue” molecules in their own right, these compounds also have a broad range of molecular orientations when bound to cereblon, providing a new level of structural control in the creation of bifunctional chimeric molecules that degrade high-value targets with great specificity. Recognizing this potential, BioTheryX has created a library of PHM-linked, biologically active chimeric molecules, including several that degrade the oncogenic targets of BTX-A51, thus dovetailing BioTheryX’s two major programs.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the performance of the new board member described herein, as well as the development and regulatory status of our product candidates, including the timing of our clinical trial for BTX-A51, and other statements which involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements regarding our strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “propose,” “predict,” “project,” “forecast,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside BioTheryX’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various risks and uncertainties, including but not limited to: whether we will be able to successfully initiate a Phase 1 clinical trial for BTX-A51, file an IND for BTX-A51, and complete our clinical trials for our product candidates on our expected timelines, or at all, whether our cash resources will be sufficient to fund our foreseeable and unforeseeable operating expenses and capital expenditure requirements our expected timeline, whether we are able to effectively manufacture or market any of our products after successful clinical trials and other important factors. The forward-looking statements contained in this press release reflect our current views with respect to future events, and we assume no obligation to update any forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release. BioTheryX does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE BioTheryX, Inc.