LEXINGTON, Mass.--(BUSINESS WIRE)--Mar. 27, 2012--
Synta Pharmaceuticals Corp. (NASDAQ: SNTA) today announced the
appointment of Dr. George Farmer as Vice President of Corporate
Development, leading the communications, competitive intelligence and
strategy functions.
Dr. Farmer received his Ph.D. in Biological Sciences from Columbia
University, was a Howard Hughes Medical Institute post-doctoral fellow
at the University of California in San Francisco, a Koch Research Fellow
at Memorial Sloan-Kettering Cancer Center, and a Senior Scientist at
DuPont Pharmaceuticals before joining the investment community as a
biotechnology analyst in 2001. As a Senior Analyst at, most recently,
Canaccord Genuity, Dr. Farmer covered a wide range of biotechnology
companies, with a focus on those specializing in oncology, including
Genentech, Amgen, Celgene, Medarex, Onyx Pharma, Dendreon, OSI Pharma,
Seattle Genetics, Synta, and others.
“Dr. Farmer brings to our team a unique combination of oncology
expertise, knowledge of industry dynamics, and experience with the
investment community,” said Safi Bahcall, President and Chief Executive
Officer of Synta Pharmaceuticals. “Excelling at communicating
cutting-edge science to audiences in the medical, scientific, and
investment communities is a critical element of competitive advantage in
building our business and in realizing the potential of our compounds to
benefit patients. George’s years of experience and relationships,
together with his data-driven approach and focus on high quality
science, is a great fit with our team and a tremendous asset in
achieving these goals.”
“I am excited to join the Synta team as ganetespib development
approaches critical inflection points,” said Dr. Farmer. “The company
has executed exceptionally well in establishing clinical
proof-of-concept with this novel Hsp90 inhibitor, which could prove
transformative in the treatment of solid tumors and hematologic
malignancies. In particular, I believe the activity observed with
ganetespib in advanced ALK+ lung cancer patients is astonishing and
supports potential for a streamlined regulatory path and expedient
patient access. Of all of the agents in this class moving through
clinical development, I see ganetespib as having the highest promise by
far.”
About Ganetespib
Ganetespib is a potent inhibitor of Hsp90 that is structurally unrelated
to first-generation, ansamycin-family Hsp90 inhibitors. Over 20 clinical
trials have been initiated with ganetespib, with over 500 patients
treated to date. In these trials, ganetespib has demonstrated strong
single-agent clinical activity, with a favorable safety profile, in
patients with several different types of cancer who have failed to
respond to, or progressed following treatment with, multiple prior
therapies. The most common adverse event seen to date has been grade 1
or 2 diarrhea, which has been transient and manageable with standard
supportive care.
A Phase 2b/3 trial evaluating the combination of ganetespib and
docetaxel in patients with non-small cell lung cancer who have
progressed following treatment with first-line therapy, the GALAXY
trial, is ongoing with data readouts expected later this year. Global
clinical trials evaluating ganetespib in patients with ALK+ lung cancer,
and in patients with HER2+ or triple-negative breast cancer, are now
initiating.
Information on clinical trials with ganetespib can be found at www.clinicaltrials.gov.
About Hsp90
Hsp90 (Heat Shock Protein 90) is a molecular chaperone required for the
proper folding and activation of many cancer-promoting proteins, and is
recognized as a key facilitator of cancer cell growth and survival. Many
of the “client proteins” of Hsp90 – such as ALK, AKT, BCR-ABL, BRAF,
KIT, MET, EGFR, FLT3, HER2, PDGFRA, VEGFR are the targets of clinically
validated cancer drugs. In preclinical studies, inhibiting Hsp90 causes
the degradation of multiple client proteins and leads to cancer cell
death.
About Synta Pharmaceuticals
Synta Pharmaceuticals Corp. is a biopharmaceutical company focused on
discovering, developing, and commercializing small molecule drugs to
extend and enhance the lives of patients with severe medical conditions,
including cancer and chronic inflammatory diseases. Synta has a unique
chemical compound library, an integrated discovery engine, and a diverse
pipeline of clinical- and preclinical-stage drug candidates with
distinct mechanisms of action and novel chemical structures. All Synta
drug candidates were invented by Synta scientists using our compound
library and discovery capabilities. For more information, please visit www.syntapharma.com.
Safe Harbor Statement
This media release may contain forward-looking statements about Synta
Pharmaceuticals Corp. Such forward-looking statements can be identified
by the use of forward-looking terminology such as "will", "would",
"should", "expects", "anticipates", "intends", "plans", "believes",
"may", "estimates", "predicts", "projects", or similar expressions
intended to identify forward-looking statements. Such statements,
including statements relating to the timing, developments and progress
of our ganetespib clinical program, reflect our current views with
respect to future events and are based on assumptions and subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements, including those described in "Risk Factors" of our Form 10-K
for the year ended December 31, 2011 as filed with the Securities and
Exchange Commission. Synta undertakes no obligation to publicly update
forward-looking statements, whether because of new information, future
events or otherwise, except as required by law.
Source: Synta Pharmaceuticals Corp.
Synta Pharmaceuticals Corp.
George Farmer, 781-541-7125