CAMBRIDGE, Mass.--(BUSINESS WIRE)--Tokai Pharmaceuticals, Inc., a biopharmaceutical company focused on developing new treatments for prostate cancer and other hormonally driven cancers, today announced the appointment of John McBride as chief operating officer. Mr. McBride brings nearly 30 years of biotech and pharmaceutical experience to Tokai, and he will have broad responsibility for business development and operational functions.
"John brings deep operational, financial and strategic planning expertise to Tokai, as well as a strong track record of leading successful product licensing agreements," said Jodie Morrison, president and chief executive officer of Tokai Pharmaceuticals. "Following the recent presentation of positive interim Phase 2 data with our lead candidate galeterone, Tokai is preparing to advance galeterone into Phase 3 clinical development in castration-resistant prostate cancer later this year. John's addition to the company brings important added depth to the team and further prepares us for a number of value-building activities in 2014."
Prior to joining Tokai, Mr. McBride founded and served as president of Alliance Life Science Advisors, Inc., a consulting firm focused on assisting life science companies with strategic planning, business development and financing projects. Prior to that, he was executive vice president and chief operating officer of Gloucester Pharmaceuticals, Inc. where he was responsible for the company's business development, finance, administrative and manufacturing functions. He has also served as global head of oncology licensing at Pharmacia Corporation; executive vice president, business operations and chief financial officer at CytoTherapeutics, Inc.; vice president, business development and treasurer at Phytera, Inc.; vice president, commercial development at Sparta Pharmaceuticals, Inc.; and vice president, business development at U.S. Bioscience, Inc. Mr. McBride holds a B.S. in biochemistry and an M.S. in chemical engineering from the University of Wisconsin and an M.B.A. from the Wharton School, University of Pennsylvania.
"This is an exciting time for Tokai as we prepare to advance galeterone into late-stage clinical development," said Mr. McBride. "We have seen robust PSA reductions and a well-tolerated safety profile in clinical studies of galeterone to-date, and these data support the potential benefit of galeterone's multi-targeted mechanisms of action in treating CRPC. I am thrilled to join the team in its mission to bring new therapies to patients with prostate cancer."
Galeterone (TOK-001), is a first-in-class, multi-targeted, oral small molecule drug being developed for the treatment of castration-resistant prostate cancer (CRPC) that disrupts androgen receptor (AR) signaling, the key driver of CRPC, via multiple mechanisms of action. Galeterone is the only drug in development or on the market that combines all three of these mechanisms in a single compound to treat CRPC. Galeterone is differentiated from other second-generation anti-hormonal treatments for CRPC due to fact that it does not bind to GABAa (no class effect risk for seizures) and exhibits a selective CYP17 lyase over hydroxylase inhibition profile (no prednisone requirement).
Tokai is investigating galeterone as part of the ARMOR (Androgen Receptor Modulation Optimized for Response) clinical development program in patients with CRPC. Clinical proof-of-concept of galeterone in CRPC has been completed and results from the ongoing ARMOR2 Phase 2 trial are being used to define the Phase 3 trials planned for initiation in the second half of 2014.
About Tokai Pharmaceuticals
Tokai Pharmaceuticals is a biopharmaceutical company focused on developing new treatments for prostate cancer and other hormonally driven cancers. The company's lead drug candidate, galeterone (TOK-001), is a first-in-class, multi-targeted, oral small molecule drug being developed for the treatment of patients with castration-resistant prostate cancer (CRPC). Based in Cambridge, Massachusetts, Tokai is backed by Apple Tree Partners, Novartis Venture Fund and the Satter Foundation. For more information on the company and galeterone, please visit www.tokaipharma.com.
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Dan Budwick, 973-271-6085