BRISBANE, Calif. and ST. LOUIS, April 07, 2021 (GLOBE NEWSWIRE) — Arch Oncology, Inc., a clinical-stage immuno-oncology company focused on the discovery and development of anti-CD47 antibody therapies, today announced the appointment of Laurence Blumberg, M.D. as President and Chief Executive Officer and Board Member. Dr. Blumberg has over thirty years of biotechnology industry experience leading companies as an executive, founder, analyst, and board member.
“On behalf of the Board, I welcome Laur to Arch Oncology as he brings extensive industry experience to lead the Company’s plans for AO-176, a novel anti-CD47 therapy for patients with cancer,” said John McKearn, Ph.D., Managing Director, RiverVest Venture Partners and Chairman of the Board of Arch Oncology. “AO-176 has a differentiated and potentially best-in-class profile among anti-CD47 biologic therapies and we look forward to Laur leading the team’s progress as they work to deliver this novel therapy to patients.”
Dr. Blumberg, added, “I am excited to join this team to build on the important work underway. With the ongoing clinical trials for AO-176 in patients with solid tumors and hematologic malignancies, I look forward to reaching multiple upcoming milestones, including the first reported clinical data mid-year 2021. This is an exciting moment in our Company’s evolution as we continue our mission on behalf of patients with cancer who need better therapeutic options.”
Before joining Arch Oncology, Dr. Blumberg was Co-founder, Founding Chief Executive Officer, and Director for Syntimmune, which was acquired by Alexion for a total cash consideration of up to $1.2 billion in 2018. At Syntimmune, he led key operational roles as President and Chief Operating Officer, overseeing all development through clinical proof-of-concept as well as for finance and business development functions. Previously, Dr. Blumberg worked at Kadmon Corporation, serving as Senior Vice President, Project Management and leading business development. Earlier in his career, he was Co-founder and Director of Syntonix Pharmaceuticals, from the Company’s founding in 1998 through its acquisition by Biogen in 2007. Subsequently, spun out as Bioverativ, Syntonix’s hemophilia therapy program has generated over $2 billion in sales annually and was acquired by Sanofi for approximately $12 billion. As an investment professional, Dr. Blumberg was Managing Member of Blumberg Capital Management, an Analyst covering biotechnology and medical device companies for Alliance Capital Management, and held Associate-level positions at venture capital and public equity firms.
He received a B.A. from Brandeis University, an M.D. from Temple University School of Medicine, and an Executive MBA from Columbia University School of Business. He completed an Internship in Surgery at Abington Memorial Hospital and was an Otolaryngology resident at Geisinger Medical Center prior to his biotechnology career.
About Arch Oncology
Arch Oncology, Inc. is a privately-held, clinical-stage immuno-oncology company focused on the discovery and development of potential best-in-class antibody therapies for the treatment of patients with solid tumors and hematologic malignancies. The Company’s next-generation anti-CD47 antibodies are highly differentiated, with the potential to improve upon the safety and efficacy profile relative to other agents in this class. Arch Oncology’s lead product candidate AO-176 is in Phase 1/2 clinical trials for the treatment of patients with select solid tumors and with hematologic malignancies, both as monotherapy and in combination with standard therapies. In addition, the Company is advancing a pipeline of antibody programs for the treatment of cancer. For more information please visit www.archoncology.com.
CONTACT: Contact: Amy Figueroa, CFA For Arch Oncology firstname.lastname@example.org