Industry Leader Tarak D. Mody, Ph.D., Joins InnovoTEX Inc. Board of Directors

AUSTIN, Texas, July 17, 2024 /PRNewswire/ -- InnovoTEX Inc., a pre-clinical stage oncology therapeutics company, today announced the appointment of Tarak D. Mody, Ph.D., to its board of directors. InnovoTEX is developing a proprietary platform called TEX Core that produces next-generation multi-modal cancer therapeutic agents known as Texaphyrin Drug Conjugates (TDCs), similar to Antibody Drug Conjugate (ADCs). In his new role as an independent board member, Dr. Mody will leverage his extensive expertise in oncology business development, licensing and in forging strategic alliances with pharma and biotech organizations, to accelerate development of the platform.

"Dr. Mody's appointment underscores our commitment to advancing the TEX Core platform", said Jonathan Arambula, Ph.D., President and CEO of InnovoTEX. "His scientific insights and industry experience will be invaluable in expediting our drug development efforts."

The company's lead clinical candidate, OxaliTEX, is at the forefront of these efforts. As a next-generation TDC, this small molecule agent targets wild type p53 platinum resistant solid tumors, addressing a significant unmet need in patients with cancer.

With a career spanning several decades in the biopharmaceutical industry, Dr. Mody currently serves as Chief Business Officer at the Parker Institute for Cancer Immunotherapy (PICI). He previously served as Vice President of Business Development & Alliance Management at Five Prime Therapeutics, where he led and executed multiple strategic transactions, including the $1.9 billion acquisition by Amgen, Inc. in 2021.  Prior to this, Dr. Mody had an extensive 20-year career at Pharmacyclics Inc. (now AbbVie, Inc.). There, he was a member of the original scientific team before transitioning into business development, where he was instrumental in the multi-asset acquisition from Celera Genomics, which included Bruton's tyrosine kinase (BTK) inhibitor discovery programs. 

From 2006 to 2013, Dr. Mody headed business development and intellectual property at Pharmacyclics. Notably, he led the ~$1 billion transformative global 50:50 alliance with Johnson & Johnson on Pharmacyclics' breakthrough product ibrutinib (IMBRUVICA^®), a first-in-class blockbuster BTK inhibitor now approved for several blood cancers.  

Dr. Mody is a co-inventor on over 100 issued US and international patents, including texaphyrin-based therapeutics, which are key components of the TEX Core platform. He earned his Ph.D. in chemistry from The University of Texas at Austin and holds a BS in chemistry with a minor in mathematics from Villanova University.

"I am eager to work with the InnovoTEX team to advance OxaliTEX and its innovative class of armored cancer therapeutics," said Dr. Mody. "Like so many of us personally touched by cancer, I am optimistic that InnovoTEX will deliver a targeted solution for patients with solid tumors."

About OxaliTEX
InnovoTEX's lead clinical candidate, OxaliTEX, is designed to treat wild type p53 platinum resistant solid tumors. Pre-clinical testing has revealed a complete circumvention of platinum drug resistance and improved safety margins for OxaliTEX relative to the current standard of care.

Investor Contact:  
Jonathan Arambula, Ph.D.  
President & CEO, InnovoTEX Inc.  
[email protected]

SOURCE InnovoTEX Inc.