CytomX Appoints Matthew Young to Board of Directors

Nov 03, 2015, 08:00 ET from CytomX Therapeutics

SOUTH SAN FRANCISCO, Calif., Nov. 3, 2015 /PRNewswire/ -- CytomX Therapeutics (Nasdaq: CTMX), a biopharmaceutical company developing investigational Probody™ therapeutics for the treatment of cancer, today announced that Matthew Young has joined the company's board of directors. Mr. Young currently serves as chief financial officer of Jazz Pharmaceuticals, and brings more than two decades of experience in finance.

"Matt's broad financial expertise and long-standing relationships with the investment community enrich our growing board of directors," said Sean McCarthy, D. Phil, chief executive officer of CytomX. "His extensive corporate development experience and financial acumen will help guide us as we advance our innovative Probody pipeline and build CytomX for the long term."

Mr. Young was appointed executive vice president and chief financial officer of Jazz Pharmaceuticals in February 2015. He previously held numerous positions within Jazz, including senior vice president, corporate development. Prior to joining the company, Mr. Young worked in investment banking for approximately 20 years.  From 2009 to 2013, he served as a managing director in global healthcare of Barclays Capital, including acting as the co-head of life sciences. From 2007 to 2008, Mr. Young served as a managing director of Citigroup Global Markets, and from 2003 to 2007 as a managing director of Lehman Brothers. From 1992 to 2003, Mr. Young served in various capacities at other investment banking firms. In 2015, he joined the board of directors of PRA Health Sciences, a contract research company. Mr. Young received a bachelor's degree in economics and a master's in business from the Wharton School of the University of Pennsylvania.

About CytomX Therapeutics CytomX is an oncology-focused biopharmaceutical company pioneering a novel class of investigational antibody therapeutics based on its Probody technology platform. The company uses the platform to create development-stage proprietary cancer immunotherapies against clinically-validated targets, as well as to develop first-in-class investigational cancer therapeutics against novel targets. CytomX believes that its Probody platform has the potential to improve the combined efficacy and safety profile of monoclonal antibody modalities, including cancer immunotherapies, antibody drug conjugates and T-cell-recruiting bispecific antibodies. Probody therapeutics are designed to take advantage of unique conditions in the tumor microenvironment to enhance the tumor-targeting features of an antibody and reduce drug activity in healthy tissues. Investigational Probody therapeutics are being developed that address clinically-validated cancer targets in immuno-oncology, such as PD-L1 against which our clinical candidate CX-072 is directed, as well as novel targets, such as CD-166, that are difficult to drug without causing damage to healthy tissues, or toxicities. In addition to its proprietary programs, CytomX is collaborating with strategic partners including Bristol-Myers Squibb Company, Pfizer Inc. and ImmunoGen, Inc. For more information, visit www.cytomx.com.

Forward-Looking Statements This press release includes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that are difficult to predict, may be beyond our control, and may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in such statements. Accordingly, you should not rely on any of these forward-looking statements. Our Probody platform is in preclinical development, and the process by which a preclinical technology could potentially lead to an approved product is long and subject to significant risks and uncertainties. Applicable risks and uncertainties include those relating to our preclinical research and development and other risks identified under the heading "Risk Factors" included in our filings with the SEC. The forward-looking statements contained in this press release are based on information currently available to CytomX and speak only as of the date on which they are made. CytomX does not undertake and specifically disclaims any obligation to update any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.

Media Contacts: Canale Communications Ian Stone ian@canalecomm.com 619-849-5388

Investor Contacts: Trout Group Pete Rahmer prahmer@troutgroup.com 646-378-2973

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