HAYWARD, Calif.--(BUSINESS WIRE)--
Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage biopharmaceutical
company focused on creating innovative cancer immunotherapies, today
announced that Jennifer Jarrett will step down as the Company’s Chief
Financial and Operating Officer, effective January 11, 2019, to pursue
an opportunity at a privately-held transportation and technology
company. Ms. Jarrett will remain actively engaged with the Company and
has been appointed to Arcus’s Board of Directors commencing January 12,
2019. Ms. Jarrett and the Company have also entered into a consulting
agreement that will ensure a seamless transition.
“I want to thank Jennifer for her service to Arcus, particularly in
leading the Company’s finance and investor relations activities,” said
Terry Rosen, Chief Executive Officer at Arcus Biosciences. “Jennifer
played an important role in leading our initial public offering and
establishing a significant cash runway for the Company, which should
currently last into the first half of 2021. I also want to wish her well
in her new position. She is bold and tenacious and will undoubtedly
continue to be successful as she transitions into the technology
industry.”
“I am saddened to be leaving Arcus and the biotechnology industry,”
stated Ms. Jarrett. “With $265 million in cash and investments at the
end of the third quarter of 2018, four product candidates in clinical
development and multiple upcoming milestones, I am extremely confident
in the Company’s success, which makes leaving at this time even more
difficult. I want to thank Terry Rosen and Juan Jaen for giving me the
opportunity to work with them and the fabulous team at Arcus. I couldn’t
be more impressed by the drug discovery and development team and
capabilities that they have established, which I truly believe are some
of the best in the industry, as well as the leadership that they have
provided Arcus since its founding in 2015. I look forward to remaining
very involved with Arcus by serving as a strategic advisor and on its
Board of Directors.”
About Arcus Biosciences
Arcus Biosciences is a clinical-stage biopharmaceutical company focused
on creating innovative cancer immunotherapies. Arcus has several
programs targeting important immuno-oncology pathways, including a dual
adenosine receptor antagonist AB928, which is in a Phase 1/1b program to
evaluate AB928 in combination with other agents in multiple tumor types,
and an anti-PD-1 antibody AB122, which is being evaluated in a Phase 1
trial and is being tested in combination with Arcus’s other product
candidates. Arcus’s other programs include AB154, an anti-TIGIT
antibody, which is in a Phase 1 trial to evaluate AB154 as monotherapy
and in combination with AB122, and AB680, a small molecule inhibitor of
CD73, which has entered clinical development. Arcus has extensive
in-house expertise in medicinal chemistry, immunology, biochemistry,
pharmacology and structural biology. For more information about Arcus
Biosciences, please visit www.arcusbio.com.
Forward-Looking Statements
This press release contains forward-looking statements. All statements
other than statements of historical facts contained herein, including,
but not limited to, Arcus’s milestones, timelines and anticipated
operating expenses and capital expenditure requirements, are
forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. All
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that may cause Arcus’s actual
results, performance or achievements to differ significantly from those
expressed or implied. Factors that could cause or contribute to such
differences include, but are not limited to, the inherent uncertainty
associated with pharmaceutical product development and clinical trials,
delays in our clinical trials due to difficulties or delays in the
regulatory process, enrolling subjects or manufacturing or supplying
product for such clinical trials, and the emergence of adverse events or
other undesirable side effects. Risks and uncertainties facing Arcus are
described more fully in Arcus’s quarterly report on Form 10-Q for the
quarter ended September 30, 2018 filed on November 8, 2018 with the SEC.
You are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date of this press release. Arcus
disclaims any obligation or undertaking to update, supplement or revise
any forward-looking statements contained in this press release.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190104005065/en/
Nicole Arndt
(510) 284-4728
narndt@arcusbio.com
Source: Arcus Biosciences, Inc.