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TESARO Announces Election of Garry A. Nicholson to Board of Directors and Results of Annual Stockholder Meeting

WALTHAM, Mass., May 14, 2015 (GLOBE NEWSWIRE) -- TESARO, Inc. (Nasdaq:TSRO), an oncology-focused biopharmaceutical company, today announced the results of its Annual Stockholder Meeting, which was held today at 8:30 AM Eastern Time in Waltham, Massachusetts. Garry A. Nicholson has been elected to the TESARO Board of Directors. In addition to electing Mr. Nicholson, stockholders elected the other nominated directors to serve an annual term and ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2015.

Stockholders also approved an increase in the number of shares of the Company's common stock authorized for issuance under its 2012 Omnibus Incentive Plan, approved the material terms for payment of performance-based compensation under the 2012 Omnibus Incentive Plan, and approved the new 2015 Non-Employee Director Stock Incentive Plan.

"I'd like to take this opportunity to thank TESARO stockholders for their ongoing support of our mission to provide transformative therapies to people bravely facing cancer, and also to welcome Garry Nicholson, who will serve as an independent director on the TESARO board," said Lonnie Moulder, CEO of TESARO. "Garry is a highly accomplished leader in the biopharmaceutical industry with deep expertise in oncology product commercialization and development, and his experience will be a valuable asset to TESARO."

Mr. Nicholson has 20 years of experience in oncology drug development and commercialization. He most recently served as President, Pfizer Oncology, from May 2008 until March 2015. As the first leader of Pfizer's global, dedicated oncology business, Mr. Nicholson had direct responsibility for business strategy and operations, including the oncology sales and marketing organizations globally, clinical development for both early and late stage pipeline candidates, and for licensing and acquisitions. Prior to joining Pfizer, Mr. Nicholson worked at Eli Lilly and Company in a number of leadership roles, including sales management, marketing, human resources, sales and marketing, and oncology drug development. Mr. Nicholson earned a bachelor of science degree in pharmacy from the University of North Carolina, Chapel Hill, and a master of business administration degree from the University of South Carolina, Columbia.

About TESARO

TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients by acquiring, developing and commercializing safer and more effective therapeutics. For more information, visit www.tesarobio.com.

CONTACT: Investor/Media Contact: Jennifer Davis +1.781.325.1116 or jdavis@tesarobio.com

Source:TESARO, Inc.