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George O. Elston Named Chief Executive Officer of 2X Oncology

CAMBRIDGE, Mass., May 30, 2017 (GLOBE NEWSWIRE) -- 2X Oncology, Inc. ("2X" or the "Company"), a company focused on developing targeted therapeutics to address significant unmet needs in women’s cancer, announces that its Board of Directors has appointed veteran life science executive George O. Elston as its Chief Executive Officer (CEO). Mr. Elston has also been appointed to the 2X Board of Directors.

George O. Elston, CEO of 2X Oncology, Inc.


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0de44f57-d058-4959-955f-f37981f14892

During his over 25 years as a life sciences leader, executive and board member, Mr. Elston has established a strong track record of building, leading and growing businesses and advancing products through clinical development and partnering.

"George brings broad executive experience in building and managing biophama companies, including identifying and executing key financing and partnering transactions,” said Peter Buhl Jensen, M.D., DMSc, Chairman of the 2X Board.

"His recent and relevant experience in both women’s health and oncology is a perfect tie-in to the 2X business vision and strategy, complementing the team and strengthening our position within the precision medicines field of drug development for women’s cancers."

Mr. Elston was most recently the Chief Financial Officer of Juniper Pharmaceuticals, Inc. (Nasdaq:JNP), where he played a key role in negotiating and executing transformative technology and financing transactions for the women’s health therapeutics developer. He is also a member of the board of directors of Celldex Therapeutics, Inc. (Nasdaq:CLDX) and the Deutsche Bank DBX Trust.

"The combination of 2X Oncology’s oncology therapeutics and novel proprietary companion diagnostics to facilitate identification of likely responders has potential to positively and significantly impact the approach to treating challenging women’s cancers,” said Mr. Elston. "I am excited to join and lead 2X at this important time in its evolution as we work to quickly move programs into clinical development.”

2X Oncology plans to execute a Series A financing to support the advancement of its pipeline of Phase 2 oncology products, each with a unique Drug Response Prediction (DRP™) companion diagnostic.

An abstract on the predictive ability of the DRP™ in treating advanced breast cancer with epirubicin will be presented at the 2017 American Society of Clinical Oncology (ASCO) Annual Meeting in a poster session on June 4, 2017 from 8:00-11:30am local time (Hall A, Board #63).

Among 2X Oncology’s product candidates is a glutathione enhanced, PEGylated liposomal doxorubicin product, 2X-111, for the treatment of breast and brain cancer with a DRP™ companion diagnostic. Doxorubicin is an anthracycline like epirubicin and also used in the treatment of breast cancer.

Data from planned Phase 2 clinical trials of 2X-111 is expected in 2018.

About 2X Oncology

2X Oncology Inc. is a is a clinical stage company developing targeted therapeutics that leverage proprietary Drug Response Predictor (DRP™) companion diagnostic technology to address significant unmet needs in women’s cancer. The DRP generates a precision mRNA-based companion diagnostic for each compound, enabling the identification of patients that are most likely to respond and benefit from treatment.

The 2X pipeline includes product candidates focused on breast, ovarian, and endometrial cancers and primary and secondary brain tumors. These programs have shown clinical efficacy and safety and are positioned to enter focused Phase 2 studies with data expected in 2018.

A Cambridge, MA based spin-out from Oncology Venture ApS, 2X works in close collaboration with Oncology Venture and leverages its Danish registry of over 1,100 cancer patients for initial clinical studies. Learn more at 2xoncology.com.

DRP™ is a trademark of Medical Prognosis Institute A/S.

Contact Amy Raskopf +1 917.673.5775 amy.raskopf@2Xoncology.com www.2xoncology.com Twitter: @2xoncology

Source: 2XOncology, Inc.