- Team Advancing G1's Lead CDK 4/6 Inhibitor Toward Phase I Clinical Trials in Third Quarter
RESEARCH PARK TRIANGLE, N.C., June 17, 2014 (GLOBE NEWSWIRE) -- G1 Therapeutics, Inc., a privately held pharmaceutical company that focuses on the discovery and development of novel small molecules for use in cancer therapy and biodefense applications, today announced that Raj Malik, MD, has joined the company as Chief Medical Officer and Greg Mossinghoff has been named Chief Business Officer. Dr. Malik will oversee the advancement of the company's lead CDK 4/6 inhibitor, G1T28-1, into a Phase I study for the reduction of chemotherapy-induced myelosuppression in the third quarter of this year. Mr. Mossinghoff will assume responsibility for G1's finances and business development efforts.
"We are delighted to welcome Raj and Greg to complete our senior management team. Their extensive clinical and business experience will prove vital as we bring our lead compound into clinical trials and advance our partnership and financing discussions," said Mark Velleca, M.D., Ph.D., Chief Executive Officer of G1. "We're grateful to Chief Scientific Officer Jay Strum, Ph.D. for successfully progressing G1T28-1 from discovery through preclinical development and look forward to leveraging his team's expertise to initiate additional drug discovery programs."
Dr. Malik has more than 20 years of experience in drug development focused on oncology. Most recently, he served as Chief Medical Officer and management board member at Agennix AG, where he was responsible for research and development. Prior to Agennix AG, he served as Chief Medical Officer at Adherex Technologies, where he directed the company's global regulatory strategy and clinical development programs. Dr. Malik also served in senior leadership positions at EMD Pharmaceuticals and Bristol-Myers Squibb.
Dr. Malik received his M.D. from the University of Sheffield Medical School in the U.K. He completed his residency at Duke University Medical Center and fellowships at Children's Hospital of Philadelphia and Duke University Medical Center. During his academic career, he was an Assistant Professor at the University of Virginia, where he conducted basic science and clinical research in addition to patient care and teaching.
"G1T28-1 has the potential to be the new standard-of-care in reducing chemotherapy-induced myelosuppression," said Dr. Malik. "I look forward to leading the clinical development of this novel therapy into multiple oncology indications."
Mr. Mossinghoff has more than 25 years of domestic and international pharmaceutical industry experience. He has served as president of Integrated Oncology Solutions and Inspire Pharmaceuticals, and helped guide Inspire from its early stages of development through its IPO. In his first decade in the industry, Mr. Mossinghoff held various management positions of increasing responsibility in global business development, new product planning, strategic planning, finance and operations at Roche and GlaxoWellcome. As a senior executive and board member of several biopharmaceutical companies, he has experience in business and product planning, technology valuation, partnering, capital markets and fundraising.
Mr. Mossinghoff holds an MBA in financial management and analysis from George Mason University and a BA in economics from the University of Virginia.
"G1's strong leadership team and pipeline of potential best-in-class therapies will enable the company to capitalize on the tremendous interest in its CDK 4/6 platform," said Mr. Mossinghoff. "I am thrilled to be joining the company at this exciting time as it moves forward in fulfilling the unmet medical needs of cancer patients."
About G1 Therapeutics, Inc.
G1 Therapeutics, Inc. is a privately held pharmaceutical company based in Research Triangle Park, NC that focuses on the discovery and development of novel small molecules for use in cancer therapy and biodefense applications. These molecules are being developed for targeting specific proteins associated with cell proliferation and growth and have demonstrated robust anti-tumor activity in animal models. Such therapies may be useful to protect the bone marrow and other organs, including the kidney and lung, from toxic insult. In October 2013, the company raised $12.5 million in a Series A financing that will enable it to advance its lead clinical candidate, G1T28-1, into clinical trials for the reduction of chemotherapy-induced myelosuppression.
Visit www.g1therapeutics.com for more information.
MEDIA CONTACT: Laura Bagby 872-206-5475
