Context Therapeutics to Appoint Dr. Karen Chagin, M.D. as Chief Medical Officer

PHILADELPHIA, May 29, 2025 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. ("Context" or "Company") (NASDAQ:CNTX), a clinical-stage biopharmaceutical company advancing T cell engaging bispecific antibodies for solid tumors, today announced the appointment of Dr. Karen Chagin, M.D. as Chief Medical Officer ("CMO"), effective June 9, 2025. Dr. Chagin succeeds Dr. Karen Smith, M.D., Ph.D., MBA, LLM, who has been serving as interim CMO and will remain a member of the Company's Board of Directors ("Board").

Dr. Chagin brings over a decade of leadership in clinical development and regulatory strategy for T cell therapies in solid tumors at Adaptimmune Therapeutics plc ("Adaptimmune") and Tmunity Therapeutics ("Tmunity"). Most recently, she served as Senior Vice President of Early-Stage Development at Adaptimmune, where she played a critical role in the development and approval of Tecelra^® (afamitresgene autoleucel), the first engineered cell therapy approved in the U.S. for a solid tumor.

Dr. Chagin has also held senior leadership roles at Tmunity, ultimately serving as CMO before the company's acquisition by Kite Pharma (a subsidiary of Gilead), where she became Head of Kite Philadelphia. Earlier in her career, she held clinical development roles at Adaptimmune, Janssen and GSK. Dr. Chagin holds a B.A. from the University of Pennsylvania and an M.D. from Temple University School of Medicine. She performed her residency at Children's Memorial Hospital in Chicago and her fellowship in pediatric hematology and oncology at The Children's Hospital of Philadelphia.

"Dr. Chagin's deep experience in developing advanced T cell therapies and leading cross-functional clinical teams makes her an ideal fit for Context at this pivotal stage in our growth," said Martin Lehr, CEO of Context. "Her track record in moving programs from early development through approval brings invaluable insight as we advance our portfolio of T cell engaging bispecific therapeutics. We're thrilled to welcome her to the team. I would also like to sincerely thank Dr. Karen Smith for stepping in as interim CMO during this transition period and for her continued leadership as a member of our Board."

"I'm excited to join Context at such a critical and promising time in the Company's evolution," said Dr. Karen Chagin. "The opportunity to advance a differentiated portfolio of T cell therapies with the potential to meaningfully impact patients with solid tumors is incredibly compelling. I look forward to working with the team to build on the strong foundation already in place and to help drive the next phase of clinical development."

Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) 

In connection with the employment of Dr. Chagin, the Company will grant a non-qualified stock option award in an amount of 153,000 shares of the Company's common stock as an inducement material to her accepting employment with the Company. Such stock option will have an exercise price equal to the closing price of the Company's common stock as reported by Nasdaq as of the close of market on the date of commencement of her employment, which will be the date of grant.

Such stock option will vest as to 25% of the shares on the first anniversary of the date of grant and in successive equal monthly installments over the subsequent three years, subject to continued employment with the Company and the terms and conditions in the stock option agreement. Such stock option is granted as an inducement award pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.

About Context Therapeutics®

Context Therapeutics Inc. (NASDAQ:CNTX) is a biopharmaceutical company advancing T cell engaging ("TCE") bispecific antibodies for solid tumors. Context is building an innovative portfolio of TCE bispecific therapeutics, including CTIM-76, a Claudin 6 x CD3 TCE, CT-95, a Mesothelin x CD3 TCE, and CT-202, a Nectin-4 x CD3 TCE. Context is headquartered in Philadelphia. For more information, please visit www.contexttherapeutics.com or follow the Company on X (formerly Twitter) and LinkedIn.

Forward-looking Statements

This press release contains "forward-looking statements" that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding strategy, future operations, prospects, plans and objectives of management, including words such as "may," "will," "expect," "anticipate," "look forward," "plan," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are forward-looking statements. These include, without limitation, statements regarding (i) the potential benefits, characteristics, safety and side effect profile of our product candidates, (ii) continuity in the Company's clinical development programs, (iii) the risk that the Company may not complete the leadership transition within currently anticipated timelines or at all, (iv) challenges that the Company may encounter in implementing the leadership transition, (v) the risk that leadership may not be successful or replicate previous development success, (vi) the likelihood data will support future development, and (vii) the likelihood of obtaining regulatory approval for our product candidates. Forward-looking statements in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and we therefore cannot assure you that our plans, intentions, expectations, or strategies will be attained or achieved. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in our filings with the U.S. Securities and Exchange Commission, including the section titled "Risk Factors" contained therein. Except as otherwise required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events, or circumstances or otherwise.

Investor Relations Contact:

Jennifer Minai-Azary

Chief Financial Officer

Context Therapeutics Inc.

[email protected]