×

OncoMed Announces Departure of Chief Medical Officer

REDWOOD CITY, Calif. , Dec. 05, 2016 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED), a clinical-stage company focused on discovering and developing novel anti-cancer stem cell and immuno-oncology therapeutics, today announced that Jakob Dupont, M.D., has resigned as the company’s Senior Vice President and Chief Medical Officer, due to personal and family-related issues. Dr. Dupont expects to return to Genentech/Roche in a position of significant responsibility in oncology clinical development. Dr. Dupont’s resignation will be effective on or about January 1, 2017 in order to facilitate a smooth transition.

Robert Stagg, Pharm.D., will lead clinical development and clinical operations at the company. He has served as OncoMed’s Vice President, Clinical Research for over nine years. Jill Henrich, OncoMed’s Vice President, Regulatory Affairs for almost eight years, will continue to lead the company’s regulatory and quality functions. Both will report directly to OncoMed’s Chairman and CEO, Paul J. Hastings. OncoMed has initiated a process to identify candidates to fill the position of Chief Medical Officer.

“It is with great sadness that we announce Jakob’s resignation. During his five-year tenure, Jakob has built an impressive clinical development team that is advancing seven novel anti-cancer investigational drugs in the clinic, including earlier this year, completion of enrollment in our YOSEMITE and PINNACLE randomized Phase 2 trials. Given the extensive strength and depth of OncoMed’s product development organization, I am confident that we will be able to deliver our development objectives on time and on budget, including Phase 2 results for lead investigational drugs demcizumab and tarextumab, filing two new immuno-oncology INDs between now and mid-2017, and multiple opt-in data packages to our partners in 2017,” said Mr. Hastings. “Although we regret Jakob’s departure, we respect his decision and wish him all the best in his new position, and thank him for his many significant contributions to the company.”

“While this was a very difficult decision for me to make, pursuing this new opportunity is the right thing for me and my family,” said Dr. Dupont. “I am truly proud of our achievements at OncoMed, including delivering seven investigational new drugs into multiple clinical trials, with two new INDs expected in the near future. I know that I leave OncoMed well-positioned for continued success and I am excited about the future of the company.”

About OncoMed Pharmaceuticals
OncoMed Pharmaceuticals is a clinical-stage company focused on discovering and developing novel anti-cancer stem cell and immuno-oncology therapeutics. OncoMed has internally discovered a broad pipeline of investigational drugs intended to address the fundamental biology driving cancer’s growth, recurrence and metastases. Demcizumab (anti-DLL4, OMP-21M18), tarextumab (anti-Notch2/3, OMP-59R5), anti-DLL4/VEGF bispecific antibody (OMP-305B83), vantictumab (anti-FZD7, OMP-18R5), ipafricept (FZD8-Fc, OMP-54F28), anti-RSPO3 (OMP-131R10) and an undisclosed immuno-oncology candidate (I/O#2) are part of the company’s strategic alliances with Celgene Corporation, Bayer Pharma AG and GlaxoSmithKline (GSK). OncoMed is independently developing brontictuzumab (anti-Notch1, OMP-52M51) and GITRL-Fc, as well as continuing to pursue new drug discovery research efforts. For further information about OncoMed Pharmaceuticals, please see www.oncomed.com.

Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding OncoMed Pharmaceuticals, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including OncoMed's expectations with respect to delivering development objectives on time and on budget, including providing Phase 2 results for demcizumab and tarextumab, filing two new immuno-oncology Investigational New Drug (IND) applications between now and mid-2017, and providing multiple opt-in packages to partners in 2017; OncoMed’s ability to file two new INDs in the near future; and OncoMed being well-positioned for future success. Such forward-looking statements involve substantial risks and uncertainties that could cause OncoMed's clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the preclinical and clinical development process; OncoMed's dependence on its collaboration partners, including Celgene, GSK and Bayer, for the funding of its partnered programs; OncoMed's ability to raise additional capital to support the development of its unpartnered programs; OncoMed's reliance on third parties to conduct certain preclinical studies and all of its clinical trials; OncoMed's reliance on single source third-party contract manufacturing organizations to manufacture and supply its product candidates; OncoMed's ability to discover, develop and commercialize additional product candidates; and OncoMed's dependence on its key executives. OncoMed undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to OncoMed's business in general, see OncoMed's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on March 10, 2016, OncoMed's Quarterly Report on Form 10-Q filed with the SEC on November 1, 2016, and OncoMed's other periodic reports filed with the SEC.

Contact: Michelle Corral Senior Director, Investor Relations and Corporate Communications OncoMed Pharmaceuticals michelle.corral@oncomed.com (650) 995-8373

Source:OncoMed Pharmaceuticals, Inc.