CytomX Announces Appointment of Sean McCarthy as Chief Executive Officer

SAN FRANCISCO--(EON: Enhanced Online News)--CytomX Therapeutics, a biotechnology company focused on the development of proteolytically-activated biologics, today announced the appointment of Sean McCarthy, D.Phil., as chief executive officer. Dr. McCarthy joined CytomX in January 2011 as its chief business officer and will lead the company as it advances its ProbodyTM platform. He replaces Nancy Stagliano, Ph.D., a co-founder of CytomX and co-inventor of its foundational technology platform. Dr. Stagliano will join CytomX's scientific advisory board and serve as a consultant to the company.

"CytomX continues to advance its unique approach to targeted pro-biologics in cancer and inflammation. The company is bringing together outstanding science, strategic business development and great culture. We are excited about Sean's leadership to take the company to the next level," said Charles Homcy, M.D., chairman of CytomX and venture partner of Third Rock Ventures. "We are grateful to Nancy for her success in building CytomX, and look forward to working with her as a member of our scientific advisory board."

"I am excited by the opportunity to lead the exceptional team assembled at CytomX," said Dr. McCarthy. "The company's Probody platform has the potential to produce unique, highly-targeted therapeutics for the treatment of cancer and inflammatory diseases, with several oncology programs already in early stages of development. I look forward to leveraging my experience in company building and business development and leading CytomX to future successes."

Dr. McCarthy has more than 15 years of experience in the biotechnology industry, including business development, venture capital, program management, and research management. Prior to joining CytomX in January 2011, he was a transactional partner at Pappas Ventures, where he helped drive investments in therapeutic, medical device and molecular diagnostic companies, including the formation and financing of Afferent Pharmaceuticals. Prior to Pappas Ventures, Dr. McCarthy was vice president of business development at SGX Pharmaceuticals Inc. Under his leadership, SGX entered into a wide range of strategic partnerships with major pharmaceutical companies, including a $515 million oncology alliance with Novartis and a key technology transfer alliance with Lilly. Prior to SGX, Dr. McCarthy was in program management at Millennium Pharmaceuticals, where he managed therapeutic protein programs. Dr. McCarthy is the author of 17 peer-reviewed scientific publications and is a named inventor on six issued patents and 23 filed patent applications. He received his D.Phil. in cancer biology from St. John's College, University of Oxford; his M.B.A. from the Rady School of Management, UC San Diego; and a B.Sc. in biochemistry and pharmacology at King's College, University of London.

About CytomX Therapeutics

 CytomX Therapeutics is a privately held biotechnology company developing probodies, or proteolytically-activated antibodies. Probodies combine the well-established power and specificity of monoclonal antibodies with a second level of tissue selectivity, driven by the action of endogenous disease enzymes. Probodies, by their ability to site-direct the activity of antibodies, offer an improved therapeutic index for validated targets as well as enabling the drugging of targets with broad tissue expression. The company's mission, alone and with the help of partners, is to provide patients with more effective and less toxic therapies for severe illnesses such as cancer and inflammatory diseases. CytomX is backed by top-tier life sciences investors, including Third Rock Ventures and the Roche Venture Fund. For more information, please visit www.cytomx.com.

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