CAMBRIDGE, Mass., June 12, 2019 /PRNewswire/ -- Akrevia Therapeutics, a privately-held biopharmaceutical company focused on developing highly-potent, tumor-targeted immuno-oncology therapeutics, today announced that Joseph Farmer has been appointed as Chief Operating Officer. In this newly-established role, Mr. Farmer will lead Akrevia's business development, finance, administrative, and business operations functions. Mr. Farmer will report to René Russo, PharmD, Akrevia's Chief Executive Officer.
"As we focus on the next phase of Akrevia's growth, I am thrilled to welcome Joe as our new Chief Operating Officer," said Dr. Russo. "This is an exciting time for the Company as we approach nomination of our first development candidates from our tumor-activated IL-2 and anti-CTLA4 programs, unlock the full potential of our Aklusion platform technology and work to deliver on our long-term strategy to build a leading immuno-oncology company. Joe's execution-focused leadership and deep expertise in financing companies, building successful business development partnerships, and establishing operational infrastructure at multiple early-stage, high-growth companies will be invaluable to Akrevia as we aim to become a leader in immuno-oncology therapeutics."
Farmer is an accomplished biopharma executive with more than 20 years of industry experience working with companies at all stages of development, through commercialization. Prior to joining Akrevia, he most recently served as Senior Vice President, General Counsel, and Corporate Secretary at Tesaro, Inc., a publicly-traded global oncology-focused biopharmaceutical company, where he helped lead the growth of the company's operations from a development stage company to a multi-product, international commercial organization. At Tesaro, he also led the negotiation and closing of numerous financing and business development transactions, including over $1.3 billion in equity and debt financing transactions, several license and collaboration transactions with large global pharmaceutical companies, and the ultimate sale of Tesaro to GlaxoSmithKline for over $5 billion in January 2019.
Prior to Tesaro, Mr. Farmer was Chief Corporate Counsel and Assistant Secretary at Cubist Pharmaceuticals, Inc., a public pharmaceutical company, focused on the development and commercialization of anti-infective therapeutics. At Cubist, Farmer led the negotiation and execution of several major multi-million- and multi-billion-dollar business development and financing transactions, including the $9.5 billion sale of Cubist to Merck in 2015. Prior to Cubist, Farmer was the Chief Administrative Officer and General Counsel at AMAG Pharmaceuticals, Inc.
"With a passion for building and growing companies, I am thrilled to join René, Tim Clackson, and the rest of the Akrevia team at this important inflection point in its history," said Farmer. "This is an opportunity to join a truly revolutionary company committed to developing the next wave of immuno-oncology therapies by unlocking the potential of highly potent cytokines, antibodies, and other immune modulators through tumor-targeted activation. I look forward to drawing on and applying my extensive transactional and operational experience at several high-growth biopharma companies to help lead Akrevia through this important phase of its evolution."
About Akrevia Therapeutics Akrevia Therapeutics is a privately-held biopharmaceutical company focused on developing highly-potent, tumor-targeted immuno-oncology therapeutics. The company's proprietary and broadly applicable Aklusion platform and novel Switchblade™ technology allow diverse biologics, including cytokines, chemokines and immune modulators, to precisely activate in the tumor microenvironment. By maximizing the efficacy and minimizing peripheral side effects of potent anti-tumor agents, Akrevia's technology platform provides the potential to expand the universe of immune-activating proteins that can be safely delivered as new therapeutic options to patients living with cancer. To learn more, visit www.akrevia.com.