Arcus Biosciences Announces Transition of Chief Financial and Operating Officer
January 04 2019 - 8:30AM
Business Wire
Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage
biopharmaceutical company focused on creating innovative cancer
immunotherapies, today announced that Jennifer Jarrett will step
down as the Company’s Chief Financial and Operating Officer,
effective January 11, 2019, to pursue an opportunity at a
privately-held transportation and technology company. Ms. Jarrett
will remain actively engaged with the Company and has been
appointed to Arcus’s Board of Directors commencing January 12,
2019. Ms. Jarrett and the Company have also entered into a
consulting agreement that will ensure a seamless transition.
“I want to thank Jennifer for her service to Arcus, particularly
in leading the Company’s finance and investor relations
activities,” said Terry Rosen, Chief Executive Officer at Arcus
Biosciences. “Jennifer played an important role in leading our
initial public offering and establishing a significant cash runway
for the Company, which should currently last into the first half of
2021. I also want to wish her well in her new position. She is bold
and tenacious and will undoubtedly continue to be successful as she
transitions into the technology industry.”
“I am saddened to be leaving Arcus and the biotechnology
industry,” stated Ms. Jarrett. “With $265 million in cash and
investments at the end of the third quarter of 2018, four product
candidates in clinical development and multiple upcoming
milestones, I am extremely confident in the Company’s success,
which makes leaving at this time even more difficult. I want to
thank Terry Rosen and Juan Jaen for giving me the opportunity to
work with them and the fabulous team at Arcus. I couldn’t be more
impressed by the drug discovery and development team and
capabilities that they have established, which I truly believe are
some of the best in the industry, as well as the leadership that
they have provided Arcus since its founding in 2015. I look forward
to remaining very involved with Arcus by serving as a strategic
advisor and on its Board of Directors.”
About Arcus Biosciences
Arcus Biosciences is a clinical-stage biopharmaceutical company
focused on creating innovative cancer immunotherapies. Arcus
has several programs targeting important immuno-oncology pathways,
including a dual adenosine receptor antagonist AB928, which is in a
Phase 1/1b program to evaluate AB928 in combination with other
agents in multiple tumor types, and an anti-PD-1 antibody AB122,
which is being evaluated in a Phase 1 trial and is being tested in
combination with Arcus’s other product candidates. Arcus’s other
programs include AB154, an anti-TIGIT antibody, which is in a Phase
1 trial to evaluate AB154 as monotherapy and in combination with
AB122, and AB680, a small molecule inhibitor of CD73, which has
entered clinical development. Arcus has extensive in-house
expertise in medicinal chemistry, immunology, biochemistry,
pharmacology and structural biology. For more information about
Arcus Biosciences, please visit www.arcusbio.com.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts contained
herein, including, but not limited to, Arcus’s milestones,
timelines and anticipated operating expenses and capital
expenditure requirements, are forward-looking statements reflecting
the current beliefs and expectations of management made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All forward-looking statements involve known
and unknown risks, uncertainties and other important factors that
may cause Arcus’s actual results, performance or achievements to
differ significantly from those expressed or implied. Factors that
could cause or contribute to such differences include, but are not
limited to, the inherent uncertainty associated with pharmaceutical
product development and clinical trials, delays in our clinical
trials due to difficulties or delays in the regulatory process,
enrolling subjects or manufacturing or supplying product for such
clinical trials, and the emergence of adverse events or other
undesirable side effects. Risks and uncertainties facing Arcus are
described more fully in Arcus’s quarterly report on Form 10-Q for
the quarter ended September 30, 2018 filed on November 8, 2018 with
the SEC. You are cautioned not to place undue reliance on the
forward-looking statements, which speak only as of the date of this
press release. Arcus disclaims any obligation or undertaking to
update, supplement or revise any forward-looking statements
contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20190104005065/en/
Nicole Arndt(510) 284-4728narndt@arcusbio.com
Arcus Biosciences (NYSE:RCUS)
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