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SAN DIEGO, July 29, 2019 (GLOBE NEWSWIRE) -- Turning Point Therapeutics, Inc. (NASDAQ: TPTX), a precision oncology company developing novel drugs to address treatment resistance, today named Yi Larson as executive vice president and chief financial officer, effective Aug. 26. Ms. Larson joins the company from Goldman Sachs & Co. where she worked for more than 12 years and most recently served as managing director of Healthcare Investment Banking.
“Yi brings an important new dimension to our growing team from her experience advising biotechnology companies through more than $100 billion in financing and strategic transactions,” said Athena Countouriotis, M.D, president and chief executive officer. “I have worked very closely with Yi for the past year as we prepared for and executed our initial public offering, and could not be happier to attract a CFO with her global breadth of experience.”
In her role at Goldman Sachs, Ms. Larson worked with a variety of biotechnology boards and management teams on a range of strategic financial matters, including capital and financing strategy; executing public stock offerings and other financings; as well as leading buy- and sell-side transactions. She has successfully executed more than 50 deals, including $30 billion in financing and $70 billion in mergers and acquisitions.
“Having worked very closely with Athena, Jean and the Turning Point management team, I have seen the uniqueness of what is being built within the company and I am eager to join at such a pivotal time,” said Ms. Larson. “Following the recent success of the IPO, the team has made great progress initiating the TRIDENT-1 Phase 2 registrational study for repotrectinib, with plans to advance a highly differentiated pipeline during the second half of 2019. I look forward to helping guide the company's financial and corporate strategy.”
Ms. Larson graduated from The Wharton School at the University of Pennsylvania with a master’s degree in Business Administration concentrated in Finance. She also earned a master’s degree in Electrical Engineering and Computer Science and a bachelor’s degree in Electrical Engineering, both from the Massachusetts Institute of Technology (MIT).
About Turning Point Therapeutics Inc.
Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of internally discovered investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead program, repotrectinib, is a next-generation kinase inhibitor targeting genetic drivers of non-small cell lung cancer and advanced solid tumors. Repotrectinib, which is currently being studied in a registrational Phase 2 study, has shown antitumor activity and durable responses among kinase inhibitor treatment-naïve and pre-treated patients. Turning Point’s kinase inhibitors are designed to bind to their targets with greater precision and affinity than existing therapies, with a novel, compact structure that has demonstrated an ability to potentially overcome treatment resistance common with other kinase inhibitors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.
Forward Looking Statements
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic potential of repotrectinib, the results, conduct and timing of Turning Point Therapeutics’ Phase 1/2 TRIDENT-1 clinical study, plans regarding future clinical trials and the regulatory approval path for repotrectinib. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “plans”, “will”, “believes,” “anticipates,” “expects,” “intends,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Turning Point Therapeutics’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Turning Point Therapeutics’ business in general, and the other risks described in Turning Point Therapeutics’ filings with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Turning Point Therapeutics undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.