CAMBRIDGE, Mass., March 22, 2017 /PRNewswire/ -- Boston Biomedical, an industry leader in the development of next-generation cancer therapeutics designed to target cancer stemness pathways, today announced its Board of Directors has appointed Patricia S. Andrews as Chief Executive Officer, effective April 24, 2017.
Ms. Andrews will succeed Chiang J. Li, M.D., FACP, who has led Boston Biomedical since he founded the company ten years ago. Under his leadership, Boston Biomedical has grown from a "garage startup" without technology or capital to become an industry leader in the field of cancer stem cells and a fully integrated oncology biotechnology company now preparing for future commercialization of late-stage development compounds.
The company currently has multiple phase 3 clinical trials ongoing globally and in the United States for its lead compound napabucasin – an internally discovered, orally-administered investigational agent designed to inhibit cancer stemness pathways by targeting STAT3. Boston Biomedical is also conducting more than a dozen phase 1b/2 trials for napabucasin as well as amcasertib – an internally discovered, orally-administered investigational agent designed to target cancer stemness pathways by inhibiting cancer stemness kinases. The company's innovative drug discovery unit is working on additional preclinical programs based on aiRNA technology, with a program slated to enter clinical development this year.
Ms. Andrews joined Boston Biomedical in 2013 and was promoted to Chief Operating Officer in 2015. Prior to joining Boston Biomedical, Ms. Andrews served as Chief Commercial Officer at Incyte, where she led the transition from a clinical-stage R&D organization to a successful commercial enterprise, with the launch of its first-in-class, first-in-disease orphan oncology product.
"We are deeply grateful for Dr. Li's unwavering commitment to patients and his tremendous contributions to cancer stem cell research and to this company," said Ms. Andrews. "I look forward to building upon Dr. Li's imprint in cancer research and continuing to advance our first-in-class compounds across multiple tumor types."
After completing his five-year commitment term on April 24, 2017, Dr. Li will also resign from his position as Head of Global Oncology, Sumitomo Dainippon Pharma Group, and will become senior special oncology advisor reporting to the CEO of Sumitomo Dainippon Pharma Co., Ltd. In the past five years, Dr. Li has led the establishment and direction of the research programs of DSP Cancer Institute in Osaka and of the clinical development programs of Sumitomo Dainippon Pharma's Oncology Clinical Development Unit in Tokyo.
"I am deeply grateful to all my colleagues who have contributed to the founding and the growth of Boston Biomedical throughout the past 10 years," said Dr. Li, Founder, President and Chief Executive Officer and Chief Medical Officer of Boston Biomedical. "With the appointment of Ms. Andrews as the company's new CEO, our numerous ongoing global clinical trials, and fully integrated organization, Boston Biomedical is well on track towards realizing the potential of our first-in-category cancer stemness inhibitors to cancer patients."
"Sumitomo Dainippon Pharma has greatly benefited from working together with Dr. Li over the past five years. We highly appreciate his leadership and his many contributions to Boston Biomedical," said Masayo Tada, Chairman, Boston Biomedical, President and Chief Executive Officer, Sumitomo Dainippon Pharma, Co. Ltd.
About Boston Biomedical
Boston Biomedical was founded in November 2006 and is wholly owned by Sumitomo Dainippon Pharma Co., Ltd. Boston Biomedical's mission is to develop the next generation of cancer therapeutics by creating drugs designed to target cancer stemness pathways. Boston Biomedical's innovation in drug discovery has received a number of recognitions and awards in the United States, including the Frost & Sullivan 2010 North American Drug Discovery Technology Innovation of the Year Award, the National Cancer Institute (NCI) cancer stem cell initiative grant award in 2010, and the 2011 Biotech Pioneer Award at the Alexandria Oncology Summit. The company also received the "Company To Watch" award in the 10th Annual Team Massachusetts Economic Impact Awards in 2013. Boston Biomedical is headquartered in Cambridge, Massachusetts, USA.
Additional information about the company and its product pipeline can be found at www.BostonBiomedical.com.
Disclaimer Regarding Forward-Looking Statements
The forward-looking statements in this press release are based on management's assumptions and beliefs in light of information presently available, and involve both known and unknown risks and uncertainties. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Information concerning pharmaceuticals (including compounds under development) contained within this material is not intended as advertising or medical advice.
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SOURCE Boston Biomedical, Inc.