TME Pharma Announces the Resignation of Its Chief Financial Officer Bryan Jennings

28 Nov 2022 18:00 CET

Investor and partnering activities to be pursued by CEO Aram Mangasarian, Senior VP Finance Heike Balzer, VP Legal and General Counsel Karen Ophoff and Senior Director Investor Relations & Business Development Ewelina Staniuk

Regulatory News:

TME Pharma N.V. (Euronext Growth Paris: ALTME) (Paris:ALTME), a biotechnology company focused on developing novel therapies for treatment of cancer by targeting the tumor microenvironment (TME), announced today that the company's Chief Financial Officer (CFO), Bryan Jennings, has resigned for personal reasons. He will remain in his role through December 31, 2022, in order to ensure a smooth transition period.

To preserve financial resources, ongoing financing and partnering activities will be pursued by CEO Aram Mangasarian, long-standing members of staff Senior Vice President of Finance, Heike Balzer, and Vice President Legal and General Counsel, Karen Ophoff, as well as newly appointed Senior Director Investor Relations and Business Development, Ewelina Staniuk. Ewelina assumes the new position after serving as Director Corporate and Business Development since November 2019.

"We would like to thank Bryan for the outstanding contribution he has made to TME Pharma during his time as CFO, in particular the expertise he provided by improving the profile of the company and bringing it to the attention of new investors in the US and Europe. Bryan has prepared the company to enter global exchanges as potential hosts for our shares, and by driving the introduction of new capital structures, including share consolidation and a preferred share class, has created an attractive balance sheet for long-term institutional investors. With that job done, we continue to reach out to the investor communities while evaluating and reacting to challenging market conditions," said Aram Mangasarian, CEO of TME Pharma. "We wish Bryan all the best in his future endeavors, and we thank him for his help in ensuring a smooth transition with Heike, Karen and Ewelina. Ewelina has been heavily involved in the business development and financing activities of the company since she joined us in 2018 and she has the knowledge, capabilities and passion to help TME Pharma communicate on its outstanding clinical data. Heike and Karen have been with the firm since early 2000 and have an exceptional grasp of financial reporting, financial planning as well as legal and contractual commitments. TME remains well equipped to continue attracting investors and strategic partners."

"I would like to thank the TME Pharma board and management team for making my time at the company so rewarding," said Bryan Jennings. "The data generated over the last twelve months have been exceptional and have attracted keen interest from the scientific community and investors in NOX‑A12 and the glioblastoma market generally. This is a significant step forward given the challenging history of the brain cancer indication. While I am leaving TME Pharma for personal reasons, I wish all the best to this amazingly talented and dedicated team, and I am confident Aram, Heike, Karen and Ewelina will be able to transform this increased interest into solid long-term shareholders."

About TME Pharma

TME Pharma is a clinical-stage company focused on developing novel therapies for treatment of the most aggressive cancers. The company’s oncology-focused pipeline is designed to act on the tumor microenvironment (TME) and the cancer immunity cycle by breaking tumor protection barriers against the immune system and blocking tumor repair. By neutralizing chemokines in the TME, TME Pharma’s approach works in combination with other forms of treatment to weaken tumor defenses and enable greater therapeutic impact. In the GLORIA clinical trial, TME Pharma is studying its lead drug candidate NOX-A12 in newly diagnosed brain cancer patients who will not benefit clinically from standard chemotherapy. TME Pharma has delivered top-line data from the NOX-A12 three dose-escalation cohorts combined with radiotherapy of the GLORIA clinical trial, observing consistent tumor reductions and objective tumor responses. Additionally, GLORIA expansion arms evaluate safety and efficacy of NOX-A12 in other combinations where the interim results from the triple combination of NOX-A12, radiotherapy and bevacizumab suggest even deeper and more durable responses. NOX-A12 in combination with radiotherapy has received orphan drug designation for glioblastoma in the United States and glioma in Europe. TME Pharma has delivered final top-line data with encouraging overall survival and safety profile from its NOX-A12 combination trial with Keytruda® in metastatic colorectal and pancreatic cancer patients, which was published in the Journal for ImmunoTherapy of Cancer in October 2021. The company has entered in its second collaboration with MSD/Merck for its Phase 2 study, OPTIMUS, to further evaluate safety and efficacy of NOX-A12 in combination with Merck’s Keytruda^® and two different chemotherapy regimens as second-line therapy in patients with metastatic pancreatic cancer. The design of the trial is in discussion with regulatory authorities in the United States and Europe. The company’s second clinical-stage drug candidate, NOX-E36, is designed to target the innate immune system. TME Pharma is considering several solid tumors for further clinical development. Further information can be found at: www.tmepharma.com.

TME Pharma® and the TME Pharma logo are registered trademarks.

Keytruda® is a registered trademark of Merck Sharp & Dohme Corp.

Visit TME Pharma on LinkedIn and Twitter.

About the GLORIA Study

GLORIA (NCT04121455) is TME Pharma’s dose-escalation, Phase 1/2 study of NOX-A12 in combination with radiotherapy in first-line partially resected or unresected glioblastoma (brain cancer) patients with unmethylated MGMT promoter (resistant to standard chemotherapy). GLORIA further evaluates safety and efficacy of NOX-A12 three additional arms combining NOX-A12 with: A. radiotherapy in patients with complete tumor resection; B. radiotherapy and bevacizumab; and C. radiotherapy and pembrolizumab.

About the OPTIMUS Study

OPTIMUS (NCT04901741) is TME Pharma’s planned open-label two-arm Phase 2 study of NOX-A12 combined with pembrolizumab and nanoliposomal irinotecan/5-FU/leucovorin or gemcitabine/nab-paclitaxel in microsatellite-stable metastatic pancreatic cancer patients.

Disclaimer

Translations of any press release into languages other than English are intended solely as a convenience to the non-English-reading audience. The company has attempted to provide an accurate translation of the original text in English, but due to the nuances in translating into another language, slight differences may exist. This press release includes certain disclosures that contain "forward-looking statements.” Forward-looking statements are based on TME Pharma’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in oncology drug development, including clinical trials and the timing of and TME Pharma’s ability to obtain regulatory approvals for NOX-A12 as well as any other drug candidates. Forward-looking statements contained in this announcement are made as of this date, and TME Pharma undertakes no duty to update such information except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221128005593/en/

For more information, please contact:

TME Pharma N.V.
Aram Mangasarian, Ph.D., CEO
Bryan Jennings, CFO
Tel. +49 (0) 30 726247 0
investors@tmepharma.com

Investor and Media Relations:

L ifeSci Advisors
Guillaume van Renterghem
Tel. +41 (0) 76 735 01 31
gvanrenterghem@lifesciadvisors.com

NewCap
Arthur Rouillé
Tel. +33 (0) 1 44 71 00 15
arouille@newcap.fr