McCarthy Brings Diverse Deal and Strategic Experience; New Appointment Further Strengthens CytomX Leadership Team
SAN FRANCISCO--(BUSINESS WIRE)-- CytomX Therapeutics, a biotechnology company focused on the development of proteolytically-activated antibodies, today announced the appointment of Sean McCarthy, D.Phil., as chief business officer. McCarthy has more than 15 years of experience in the biotech industry, including business development, venture capital and program management.
“Building strong collaborations is an important aspect of our overall business strategy, and I am very excited to welcome Sean to our team,” said Nancy Stagliano, chief executive officer of CytomX. “His impressive track record in developing value-driving partnerships and guiding business strategy adds important depth to our team as we continue to move CytomX forward. Sean’s appointment follows the recent addition of several other key members to our management team, and our move to South San Francisco and each of these milestones further solidifies the foundation for the continued growth and success of CytomX.”
McCarthy joins CytomX from Pappas Ventures where he was most recently a transactional partner and helped drive investments in therapeutic, medical device and molecular diagnostic companies, including new company formation. Prior to Pappas Ventures, 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. Prior to SGX, McCarthy was associate director of program management at Millennium Pharmaceuticals where he managed therapeutic protein programs. Prior to joining the program management group at Millennium, he managed an interdisciplinary team of scientists that developed cutting edge genomic techniques for the identification of novel biologics in the context of a major alliance with Eli Lilly. 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. 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.
“CytomX’s highly innovative approach to developing site-directed antibody therapies for severe illnesses is an exciting area of medicine with tremendous potential,” said Dr. McCarthy. “I’m thrilled to join the company at such a critical time and look forward to helping the team achieve its goals and bring Probodies™ to market.”
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, should result in an improved therapeutic index for validated targets as well as enable 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.
Dan Budwick, 973-271-6085
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INDUSTRY KEYWORDS: Health Biotechnology Other Health