Prescient Onboards Former Juno Executive Dr Allen Ebens, Stock Zooms Up 25%

  • Jun 04, 2020 AEST
  • Team Kalkine
Prescient Onboards Former Juno Executive Dr Allen Ebens, Stock Zooms Up 25%

Summary

  • Dr Allen Ebens was formerly a key executive in Juno Therapeutics, a CAR-T pioneer company. His experience and expertise would be valuable for PTX in developing cancer therapy platform.
  • Vast experience of over 24 years in drug development, joins Prescient board.
  • Dr Ebens brings global pharmaceutical and small biotech research & development experience to the cancer therapy platform of Prescient.

ASX-listed clinical-stage biotechnology player Prescient Therapeutics Limited (ASX:PTX) announced the appointment of Dr Allen Ebens as a Non-Executive Director. Dr Ebens is a leading biotechnology executive with an enormous experience of more than 24 years, including working with one of the most successful CAR-T pioneers, Juno Therapeutics (acquired by Celgene for US$9 billion).

Prescient Therapeutics Limited

Prescient is a clinical-stage biotech company engaged in developing personalised treatment approaches for challenging cancers with unmet medical needs. The Company provides targeted therapies as well as cell therapies for treating several cancers. The targeted therapies of PTX comprise two drug compounds PTX-200 and PTX-100.

Recently PTX has obtained two key licenses for developing its immunotherapy program to establish pioneering universal CAR Platform called OmniCAR.

To Know More, Do Read: Impressive! Prescient Obtains Key Licenses for Next Generation Immunotherapy Platform

Dr Allen Ebens With an Extensive Drug Development and CAR-T Experience Joins Prescient

Dr Allen Ebens joins Prescient, with over 24 years of extensive experience in drug development in technologies as well as therapeutic area, the appointment of Dr Ebens will add value to cancer therapy arena of PTX.

Dr Ebens completed his PhD at the University of California, Los Angeles and postdoctoral training at the University of California, San Francisco.

Dr Allen Ebens has expertise in drug development, including experience of working with one of the most successful CAR-T pioneers, Juno Therapeutics.

Juno Therapeutics is recognized as a leader in the successful and rapid clinical advancement of CAR-T cancer therapies. At Juno, Dr Ebens was involved in establishing the scientific capabilities of the company in the emerging arena of CAR-T therapy.

In 2018, Juno Therapeutics was acquired by Celgene for USD 9 billion which was subsequently acquired by the global pharmaceutical company Bristol-Myers Squibb (NYSE:BMY) in 2019 for USD 74 billion.

Currently, Dr Ebens also serves as a Chief Science Officer in a San Francisco California based biotechnology company Vera Therapeutics.

Dr Ebens is a highly accomplished drug developer, having overseen the advancement of multiple successful drug development projects from concept to clinical development including polatuzumab, which is approved by the US FDA and is now marketed for use in diffuse large B-cell lymphoma.

Previously, Dr Ebens held senior executive positions at leading global pharma and biotechnology companies Genentech and Exelixis. As a senior executive, he worked from theory to clinic across multiple therapeutic platforms such as targeted therapies, antibody-drug conjugates, antibodies along with T cell recruiting antibodies.

Additionally, he also held roles in biotech companies, NGM Biopharmaceuticals and Bioseek.

It is worth mentioning that Dr Ebens is the author of multiple peer-reviewed publications and has a significant patent portfolio. He will bring global pharmaceutical and small biotech research & development experience to the cancer therapy platform of Prescient.

Prescient is moving ahead at a rapid pace in the immunotherapy platform of developing medicines for challenging cancers that have developed resistant to front line chemotherapies. With the two key licenses already locked for developing OmniCAR platform and the appointment of Dr Ebens would further solidify the company’s future prospects.

Prescient would issue approximately 415,000 unlisted options to Dr Ebens exercisable at AUD 0.075, expiring four years from the date of issue.

On 1 June 2020, post the announcement, PTX shares skyrocketed by 25.49% to close at AUD 0.064 with a market cap of AUD 20.11 million.

To know more about Prescient Therapeutics Limited, click here.

To stay updated with PTX company activities and announcements, please update your details on their investor centre.

 


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