Aprea Therapeutics Announces Appointment of Nadeem Q. Mirza, M.D., M.P.H. as Chief Medical Officer and Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
DOYLESTOWN, Pa., May 02, 2024 (GLOBE NEWSWIRE) -- Aprea Therapeutics, Inc. (NASDAQ:APRE) ("Aprea", or the "Company"), a clinical-stage biopharmaceutical company focused on precision oncology through synthetic lethality, today announced the appointment of Nadeem Q. Mirza, M.D., M.P.H. as Chief Medical Officer (CMO) of the Company, effective May 1, 2024. Dr. Mirza has been an integral part of the Company's senior team as a consultant since February, 2023 and will now assume a more central role in leading the Company's development of its expanding clinical pipeline.
"Aprea is at a critical point of enriching and expanding its clinical programs. Dr. Mirza has already made significant contributions to Aprea and we welcome him formally as our CMO, strengthening our growing senior management team," said Dr. Oren Gilad, President and CEO of Aprea. "Dr. Mirza has strong expertise in oncology and drug development, with an exceptional track record that encompasses both development stage and commercial programs. This strategic appointment comes at a pivotal time for the company, as we expand our clinical pipeline and prepare to advance our second asset APR-1051, a highly selective oral WEE1 inhibitor, into the clinic."
Dr. Mirza commented on his new role, stating, "Having worked alongside the talented team at Aprea Therapeutics as an advisor, I am impressed by Aprea's approach to drug development and have been closely involved in the current clinical development programs. I am pleased to now manage these efforts from within the company and am committed to Aprea's mission to be a leader in DNA damage response. I am particularly excited about the first and only oral macrocyclic ATR inhibitor as well as our highly selective oral WEE1 inhibitor and look forward to overseeing the upcoming clinical program for APR-1051, which has best in class potential."
Dr. Mirza has more than 30 years of clinical and developmental experience in solid tumors and hematologic malignancies, having held significant leadership roles at large pharma and biotech companies. His prior experience includes serving as Senior Vice President, Clinical Development at Salarius Pharmaceuticals, from 2020 to 2023, where he oversaw early phase drug development in oncology. From 2018 to 2019, he was Senior Vice President, Corporate Medical Affairs at Verastem Oncology where he oversaw the launch of Copiktra®. From 2015 to 2017, he served as Global Head Hematology and Solid Tumors at Abbvie Oncology where he oversaw the global launch of Venclexta®. From 2013 to 2015, he was Vice President, Head of Oncology, North America Medical Affairs at Sanofi Oncology where he was responsible for medical affairs programs to support 12 products across several oncology indications. Dr. Mirza holds an M.P.H. from the University of Texas at Houston and earned his M.D. from the University of Punjab.
In connection with Dr. Mirza's appointment, the Company's Board of Directors granted Dr. Mirza a stock option to purchase an aggregate of 26,920 shares of the Company's common stock (the "Options"). The Options were granted outside of the Company's 2019 Equity Incentive Plan (the "Plan") as a material inducement to Dr. Mirza accepting the Company's offer of employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The Options have an exercise price of $5.25 per share, which is equal to the closing price of the Company's common stock on May 1, 2024. The Options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the one-year anniversary of the grant date and then in equal, monthly installments for 36 months thereafter, subject to Dr. Mirza's continued service to the Company through the applicable vesting dates.
The Company's Board of Directors also granted Dr. Mirza 6,730 restricted stock units (the "RSUs"). The RSUs were granted outside of the Plan as a material inducement to Dr. Mirza accepting the Company's offer of employment in accordance with Nasdaq Listing Rule 5635(c)(4). The RSUs shall vest over three years with one-third of the RSUs vesting on each yearly anniversary of the grant date, subject to Dr. Mirza's continued service to the Company through the applicable vesting dates.
About Aprea
Aprea Therapeutics, Inc. is a clinical-stage biopharmaceutical company headquartered in Doylestown, Pennsylvania, focused on precision oncology through synthetic lethality. The Company's lead program is ATRN-119, a clinical-stage small molecule ATR inhibitor in development for solid tumor indications. Aprea has completed all IND-enabling studies for its oral, small molecule WEE1 inhibitor, APR-1051, and recently received FDA clearance of its IND. For more information, please visit the company website at www.aprea.com.
The Company may use, and intends to use, its investor relations website at https://ir.aprea.com/ as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.
Forward-Looking Statement
Certain information contained in this press release includes "forward-looking statements", within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended related to our study analyses, clinical trials, regulatory submissions, and projected cash position. We may, in some cases use terms such as "future," "predicts," "believes," "potential," "continue," "anticipates," "estimates," "expects," "plans," "intends," "targeting," "confidence," "may," "could," "might," "likely," "will," "should" or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current beliefs and expectations of our management team and on information currently available to management that involve risks, potential changes in circumstances, assumptions, and uncertainties. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize, and achieve market acceptance of our current and planned products and services, our research and development efforts, including timing considerations and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. Any or all of the forward-looking statements may turn out to be wrong or be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including, without limitation, risks related to the success, timing, and cost of our ongoing clinical trials and anticipated clinical trials for our current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim or preliminary results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of our ongoing clinical trials, our understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs, and the other risks, uncertainties, and other factors described under "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents we file with the U.S. Securities and Exchange Commission. For all these reasons, actual results and developments could be materially different from those expressed in or implied by our forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update such forward-looking statements for any reason, except as required by law.
Investor Contact:
Mike Moyer
LifeSci Advisors
[email protected]
