- Two new appointments follow oversubscribed $75 million (€64 million) Series B financing and support next stage of iTeos’ growth
Gosselies, Belgium – June 27, 2018 – iTeos Therapeutics SA, a biotechnology company developing novel cancer immunotherapies, today announced the appointment of David Hallal, former Chief Executive Officer of Alexion Pharmaceuticals, and Tim Van Hauwermeiren, Chief Executive Officer of argenx, to its board of directors. David has been appointed Chairman and Tim joins as an independent non-executive director.
“David and Tim are both extremely well regarded executives and we are thrilled to have them join the iTeos Board at this stage in our growth. Their combined commercial experience running large biotechnology companies will be invaluable as we advance our innovative next-generation immuno-oncology pipeline and expand our presence in the U.S.,” said Michel Detheux, Ph.D., Chief Executive Officer of iTeos. “Our recent financing and diversified Board put us in an even stronger position to rapidly move our promising therapies into the clinic and to design additional therapeutic candidates based on our industry-leading drug discovery and early clinical development expertise.”
David Hallal brings nearly 30 years of senior executive leadership experience in growing and operating several of the world’s most successful biotechnology companies. David spent more than 10 years at Alexion Pharmaceuticals as Chief Executive Officer, Chief Operating Officer and Chief Commercial Officer and played a central role in transforming the company from a development-stage company in 2006 to a commercial-stage company operating in more than 50 countries with three approved products and more than $3 billion in annual revenues by 2016. Prior to Alexion, David held leadership positions at Amgen, Biogen and Eyetech. He also serves as Chairman of Scholar Rock (Nasdaq: SRRK).
Tim Van Hauwermeiren is currently Chief Executive Officer of argenx (Euronext & Nasdaq: ARGX), which he co-founded in 2008 and where he has also served on the Board since July 2014. At argenx, Tim has created a multi-billion-dollar enterprise with three therapies in mid- to late-stage development. Tim has more than 20 years of general management and business development experience across the life sciences and consumer goods sectors. Previously, he held senior leadership roles at Ablynx and Procter & Gamble.
“It’s an exciting time of growth and expansion at iTeos as it prepares to transition its highly differentiated adenosine A2A receptor antagonistinto the clinic, and I am delighted to join the Board as Chairman,” said David Hallal. “Together with Michel, Tim and the other Board members, I will be focused on executing the Company’s strategy to develop innovative therapies that can transform the lives of patients suffering with cancer.”
“iTeos is proving to be a key player in the emerging cancer immunotherapy space and I am very much looking forward to working with the team to progress iTeos’ pipeline and provide guidance to help the Company realize its full potential,” added Tim Van Hauwermeiren.
iTeos’ Board of Directors now consists of David Hallal (Chairman); Ansbert Gadicke, M.D.; Christiana Bardon M.D. MBA; Priyanka Belawat, Ph.D.; Tim Van Hauwermeiren, MSc, EMBA; Chris Buyse, MBA, Jonathan Skipper, Ph.D. and Michel Detheux, Ph.D. (CEO).
About iTeos Therapeutics
iTeos Therapeutics is a privately-held, clinical-stage biopharmaceutical company dedicated to extending and improving the lives of cancer patients by designing and developing next generation immunotherapies. The Company is advancing EOS100850, an insurmountable and non-brain penetrant adenosine A2A receptor antagonist, into a Phase I trial in the second half of 2018. A second program for its human ADCC-enabling anti-TIGIT antibody (EOS884448) is expected to enter the clinic in 2019. Based in Gosselies, Belgium and Cambridge, MA, iTeos Therapeutics was founded out of the Ludwig Institute for Cancer Research (LICR) and the de Duve Institute (Université Catholique de Louvain) in 2011. In June 2018, the Company completed an oversubscribed $75 million (€64 million) Series B financing led by MPM Capital, alongside new investors HBM Partners, 6 Dimensions Capital and Curative Ventures. All previous investors including Fund +, VIVES II and SRIW, as well as SFPI, also participated in this funding round.For more information, please visit www.iteostherapeutics.com.
For further information, please contact:
Michel Detheux, CEO
Amber Fennell, Mathew Neal, Sukaina Virji, Hendrik Thys
Consilium Strategic Communications
+44 203 709 5700
Stern Investor Relations, Inc.
+ 1 212 362 1200