BioEclipse Therapeutics Appoints New Board Member and Names Interim CFO

Mahmoud Mahmoudian,Ph.D.,FRSC, joins Bioeclipse board; biopharmaceutical industry veteran with proven track record in R&D, venture investments, and business development. Stephen Ghiglieri, managing director at Danforth Advisors, to serve as interim CFO

MOUNTAIN VIEW, Calif., Jan. 26, 2022 /PRNewswire/ -- BioEclipse Therapeutics™ (BioEclipse), a private clinical-stage biopharmaceutical company with a proprietary platform for developing next-generation cancer immunotherapies, announced today the appointment of Mahmoud Mahmoudian, Ph.D., FRSC, to the BioEclipse Board of Directors. Dr. Mahmoudian, an industry veteran who served as a senior executive at Sumitomo Dainippon Pharma Oncology (Sumitomo Oncology), brings with him decades of industry experience spanning venture investing, business development, and identifying, incubating, and developing novel therapeutics.

Dr. Mahmoudian joins Catherine Sohn, Pharm. D., Chairman of BioEclipse; Pamela R. Contag, Ph.D., President and CEO of BioEclipse; Gregory T. Schiffman; Elona Baum; Oliver Hopkinson; Mark Frohlich, M.D.; and Biao He, Ph.D., on the Board.

Dr. Mahmoudian most recently served as Senior Vice President and Head of Global Oncology External Innovation Hub at Sumitomo Oncology where he led biotechnology investments, venture creation, company building, and translation of next-generation scientific innovations into cures for major diseases that transform patients' lives. During his more than 30-year career, Dr. Mahmoudian held senior-level positions at several global biopharmaceutical companies, including Merck, and GlaxoSmithKline.

In related news, BioEclipse also announced the appointment of industry veteran Stephen Ghiglieri, Managing Director for the West Coast Region at Danforth Advisors, as interim Chief Financial Officer.

Dr. Mahmoudian and Mr. Ghiglieri join BioEclipse at a crucial time in the growth of our company and the advancement of the clinical program for our novel cancer therapeutic, CRX100," stated Dr. Contag. "Adding an individual of Dr. Mahmoudian's talent and extensive experience to BioEclipse's Board of Directors is a great accomplishment as we prepare to enter a new growth phase for our Company.Dr. Mahmoudian possesses an exceptional combination of venture investment acumen and expertise in the identification, incubation, and development of novel biologics, including vaccines, cell therapies, and oncolytic viruses. His decades of experience, which span global pharmaceutical companies and industry startups, will make him an incredible asset to our Board."

Dr. Contag continued, "In Stephen Ghiglieri, we have an industry veteran who has served as CFO of several life sciences companies where he led public offerings, built partnerships, and raised capital. On behalf of BioEclipse and its Board of Directors, I am pleased to welcome Dr. Mahmoudian and Mr. Ghiglieri, and we look forward to benefiting from their knowledge and expertise."

The appointments of Dr. Mahmoudian and Mr. Ghiglieri come as BioEclipse evaluates results from a Phase 1 dose-escalation trial investigating the safety, tolerability, and pharmacokinetic (PK) properties of the company's lead drug candidate, CRX100, in advanced solid tumors that do not respond to standard of care, including triple-negative breast cancer, colorectal cancer, hepatocellular carcinoma, osteosarcoma, epithelial ovarian cancer, and gastric cancer. Developed with technology exclusively licensed from Stanford University, CRX100 combines activated immune cells, known as cytokine-induced killer (CIK) cells, with an oncolytic virus. When the two components were combined in preclinical animal models, they worked together to attack the cancer.

About Dr. Mahmoud Mahmoudian

Dr. Mahmoudian brings more than 30 years of biopharmaceutical industry experience spanning global drug research and development, venture capital, business development, and creating growth strategies focused on identifying, incubating, and developing novel therapeutics. He was recruited to Sumitomo Oncology in 2018 as Senior Vice President, Head of Global Oncology External Innovation Hub. As Chief Science Scout, he led venture investments and external partnerships with academia to develop new biology, technologies (mRNA vaccines, synthetic lethality, oncolytic viruses, gene editing, RNA therapies, microbiome), and cancer treatments. In this role, Dr. Mahmoudian raised $70 million in capital to build academic and venture hubs and established an oncology research alliance with Columbia University, Wistar Institute, Harvard University, and the Dana-Farber Cancer Institute. He led Sumitomo's investment in the MPM Oncology INV Fund ($100 million) as a limited partner and served as a member of the Investor Committee. Previously, Dr. Mahmoudian held senior positions at several biopharmaceutical companies, including Ferring Pharmaceuticals, Merck, and GlaxoSmithKline where he led global drug development teams credited with eight FDA approvals and product launches responsible for $15 billion in sales.

I am delighted to join the BioEclipse Board at a dynamic time for the company," stated Dr. Mahmoudian. "My goal is to help the BioEclipse Board and management build upon the work that has been done to bring novel immune therapies to patients who need them most. Both patients and investors have the opportunity to benefit from what I believe to be important therapeutic advancements being developed by BioEclipse in the treatment of cancer."

About Stephen Ghiglieri

Mr. Ghiglieri currently serves as Managing Director for the West Coast Region at Danforth Advisors. In a career that has spanned almost 30 years, he has served as chief financial officer for several life sciences companies, including Oacis Healthare Systems, Avolent, NeurogesX, Inc., MedData, Galena BioPharma, Inc., and Covalent Health.

I am excited to step into the CFO role at BioEclipse and help the company continue executing its strategic plan, advance its clinical program for CRX100, and deliver value for patients and investors," stated Mr. Ghiglieri. "I look forward to working with the entire BioEclipse team to build on the company's momentum and strong business fundamentals."

About BioEclipse Therapeutics™

BioEclipse Therapeutics™ is an emerging, clinical-stage biopharmaceutical company using a novel platform that combines immune cells and an oncolytic virus to expand treatment options for patients with refractory solid tumors. Our focus is currently on the treatment of recurring cancers with our unique multi-mechanistic approach that could address cancers believed to be untreatable. BioEclipse Therapeutics™ has started a Phase 1 clinical trial with CRX100, a patented, first in class, intravenously delivered, targeted immunotherapy against solid tumors. CRX100 is being developed to deliver potentially curative treatment to patients over a broad range of tumor types, including some rare pediatric cancers.

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For more information, visit www.bioeclipse.com

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