|By Business Wire||
|January 21, 2014 07:05 AM EST||
Compugen Ltd. (NASDAQ: CGEN) announced today that Drew Pardoll, MD, PhD, Abeloff Professor of Oncology, Medicine, Pathology, and Molecular Biology and Genetics at Johns Hopkins University of Medicine, has joined Compugen’s Scientific Advisory Board (SAB). The SAB, disclosed in August 2013, provides insight and guidance on the Company’s activities in the fields of oncology and immunology with particular emphasis on its early stage pipeline of therapeutic proteins and monoclonal antibodies, largely based on Compugen-discovered immune checkpoint protein candidates.
Prof. Pardoll joins Compugen’s SAB, which already consists of Charles G. Drake, MD, PhD, Associate Professor of Oncology, Immunology and Urology at Johns Hopkins Kimmel Cancer Center; Iain B. McInnes, MD, PhD, Director of the Institute of Infection, Immunity, and Inflammation at the University of Glasgow; Antoni Ribas, MD, PhD, Professor at the Department of Medicine, Hematology/Oncology, University of California Los Angeles; and Howard R. Soule, PhD, Executive Vice President and Chief Science Officer, Prostate Cancer Foundation.
Anat Cohen-Dayag, PhD, President and CEO of Compugen, stated, “We are delighted to welcome Prof. Pardoll, a renowned scientist and key opinion leader in the field of immuno-oncology, to our SAB. We recently announced an increase of more than sixty percent in our R&D budget for the current year relative to 2013, primarily in support of our Pipeline Program candidates in immuno-oncology, and therefore very much look forward to benefiting from the knowledge and guidance to be provided by Drew and the other SAB members."
For the past two decades, Prof. Pardoll has studied molecular aspects of immune regulation, particularly related to mechanisms by which cancer cells evade elimination by the immune system. Prof. Pardoll made seminal advances in immunology, including the discovery of new types of immune cells and regulatory mechanisms. He was the first to propose blockade of PD-1 for cancer therapy, and his program led the clinical development of the first anti-PD-1 antibody. Prof. Pardoll is the inventor of a number of immunotherapies, including cancer vaccines, and was a scientific founder of Amplimmune Inc. He has served on the editorial boards of the Journal of the National Cancer Institute and Cancer Cell, and has been a member of numerous corporate and other scientific advisory boards. Prof. Pardoll is Director of the Cancer Immunology Program in the Sydney Kimmel Comprehensive Cancer Center at Johns Hopkins and completed his MD, PhD, Medical Residency and Oncology Fellowship at Johns Hopkins University.
Compugen is a leading drug discovery company focused on therapeutic proteins and monoclonal antibodies to address important unmet needs in the fields of immunology and oncology. The Company utilizes a broad and continuously growing integrated infrastructure of proprietary scientific understandings and predictive platforms, algorithms, machine learning systems and other computational biology capabilities for the in silico (by computer) prediction and selection of product candidates, which are then advanced in its Pipeline Program. The Company's business model includes collaborations covering the further development and commercialization of product candidates at various stages from its Pipeline Program and various forms of research and discovery agreements, in both cases providing Compugen with potential milestone payments and royalties on product sales or other forms of revenue sharing. In 2012, Compugen established operations in California for the development of oncology and immunology monoclonal antibody therapeutic candidates against Compugen drug targets. For additional information, please visit Compugen's corporate website at www.cgen.com.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, include words such as “may,” “expects,” “anticipates,” “potential,” “believes,” and “intends,” and describe opinions about future events. Forward-looking statements in this press release include, but are not limited to, statements relating to future benefits from Prof. Pardoll and other SAB members to Compugen and the increase in the R&D budget for 2014. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of these risks and other factors are discussed in the "Risk Factors" section of Compugen’s Annual Report on Form 20-F for the year ended December 31, 2012 as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent Compugen’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.