Burnaby, British Columbia / July 21, 2021 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8), is pleased to announce that as previously planned, Dr. Benjamin Krantz has taken over the role of CEO at its US subsidiary, Advanced Proteome Therapeutics Inc. (“APTI”).
Prior to this appointment, Benjamin Krantz MD, MBA was the Chief Fellow in hematology/oncology at New York University Langone Medical Center and served on the Board of Directors of APTI. His research has focused on biomarker and therapeutic development in pancreas ductal adenocarcinoma and has resulted in peer-reviewed articles on novel therapeutics for pancreas cancer and emerging biomarkers for therapeutic selection. He has also been the architect of investigational protocols for the development of new pancreas cancer biomarkers and an early phase therapeutic candidate. Dr. Krantz received a Bachelor of Arts from the University of Pennsylvania and received his Doctor of Medicine and Master of Business Administration from Tufts University. He completed his residency in internal medicine at New York-Presbyterian Hospital – Columbia University Medical Center during which time he analyzed investigator intellectual property disclosures as a Columbia Technology Ventures fellow. He subsequently worked as a hospitalist and clinical/translational researcher at Memorial Sloan Kettering Cancer Center. He is maintaining an academic affiliation at NYU as a Clinical Assistant Professor in the Division of Hematology and Medical Oncology.
Since the initial announcement of Dr. Krantz’ planned appointment on December 17, 2020, he has been working diligently in preparation for this transition. Over this period, renowned scientist, Dr. Ravi Chari, has joined the company’s Scientific Advisory Board and Dr. Rajeshkumar Manian has joined as Lead Synthetic Organic Chemist. Furthermore, existing projects with the Zeglis lab continue to advance and APTI has engaged with new potential collaborators.
Dr. Benjamin Krantz, Director and CEO stated, “I am extremely excited to be taking on the CEO of role at APTI. It is with high conviction for the potential of APTI’s technology and my ability to generate value from it that I have left a promising academic track to lead APTI. APTI is at an exciting crossroads, where we have a developed a platform that continues to demonstrate exciting results with promising novel complementary technologies in the laboratory to generate better antibody drug conjugates. As a clinical and translational focused researcher, it is my vision to rapidly move our technologies from the lab to incorporation into prospective therapeutics leading to clinical development. We have certainly received external validation for this approach with the joining of Dr. Chari to our Scientific Advisory Board and Dr. Manian as our Lead Synthetic Organic Chemist, as well as current and potential collaborator interest. Additionally, we are looking to scale up with new hires and expansion of lab capabilities to accelerate achievement of key milestones over the next 6 months. Antibody drug conjugates continue to be a hot area in biotech where multi-billion-dollar licensing deals for early-stage assets are not uncommon. With our strategy to build wholly owned clinical candidates using APTI technology, it is my goal to position APTI for that type of success.”
Paul Woodward, CEO of the Company stated “I’m excited for what the next six months will bring the company. Ben has been brought on board with a singular mandate – commercialize the technology, and he is already rapidly moving down that road. Our near-term goals (within the next 12 months) are to be formally engaged with collaborators, as a precursor to licensing deals, with the longer-term goal of having those partnerships funding proprietary drug development. We believe this to be a logical pathway and the optimal program for driving valuation. In addition to commercialization opportunities, we will continue to develop IP to enhance and add to our current conjugation technologies.”
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody-drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in-vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value.
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Advanced Proteome Therapeutics Corporation
President and CEO
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This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “intends”, “anticipates”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulators.
Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.