Corvus Pharmaceuticals Appoints Jeffrey Arcara as Chief Business Officer

BURLINGAME, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS), a clinical-stage biopharmaceutical company, today announced the appointment of Jeffrey Arcara as Chief Business Officer. Mr. Arcara, who is a proven leader with more than 30 years of commercial experience in the biopharmaceutical industry, will be responsible for leading corporate strategy, business development, portfolio strategy, and new product planning.

"Corvus is leading the development of ITK inhibition as a platform opportunity across oncology and immune diseases. The addition of Jeff as chief business officer strengthens our ability to maximize the potential of our ITK programs, both internally and through partnerships. He brings extensive industry experience across large and small biopharma, with a proven track record of generating value and getting medicines to patients," said Richard A. Miller, M.D., co-founder, president and chief executive officer of Corvus. "We welcome Jeff to this new role and look forward to working with him as we pioneer ITK inhibition as a novel potential treatment option for a broad range of patients."

Mr. Arcara has broad functional experience including commercial development, corporate development, product licensing and partnering, and corporate strategy across a range of biopharmaceutical companies. He previously served as senior vice president, head global marketing & portfolio and strategy for the innovative medicines and biosimilars business at Teva Pharmaceuticals. During his 11-year tenure at Teva, he held commercial leadership roles of increasing responsibility across several therapeutic areas including immunology, immune-oncology, and neuroscience. Prior to Teva, Mr. Arcara held commercial leadership positions at Neuromed, Wyeth, and InKine Pharmaceutical Company. He began his career in marketing & sales roles at Centocor and Abbott Laboratories. Mr. Arcara holds an MBA from the UCLA Anderson School of Management and a B.A. in Finance and Marketing from University of Wisconsin-Madison.

"I am excited to join Corvus at this pivotal stage of its development, with the significant opportunity to develop ITK inhibition for a broad range of indications where patients are in need of better treatment options. I look forward to leveraging my industry experience, including in oncology and immunology, to help drive the success of Corvus' pipeline," said Mr. Arcara.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company pioneering the development of ITK inhibition as a new approach to immunotherapy for a broad range of cancer and immune diseases. The Company's lead product candidate is soquelitinib, an investigational, oral, small molecule drug that selectively inhibits ITK. Corvus plans to initiate a Phase 3 registrational clinical trial for soquelitinib in patients with relapsed peripheral T cell lymphoma. Its other clinical-stage candidates are being developed for a variety of cancer indications. For more information, visit www.corvuspharma.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to the potential safety and efficacy of the Company's product candidates including soquelitinib, ciforadenant and mupadolimab; the potential use of its ITK inhibition programs to be a platform opportunity across oncology and immune diseases and whether the potential of the ITK programs will be realized. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the Company's Quarterly Report on Form 10-Q for the three months ended September 30, 2023, filed with the Securities and Exchange Commission on November 7, 2023, as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the Company's ability to demonstrate sufficient evidence of efficacy and safety in its clinical trials of soquelitinib and its other product candidates; the accuracy of the Company's estimates relating to its ability to initiate and/or complete preclinical studies and clinical trials and release data from such studies and clinical trials; the results of preclinical studies and interim data from clinical trials not being predictive of future results; the Company's ability to enroll sufficient numbers of patients in its clinical trials; the unpredictability of the regulatory process; regulatory developments in the United States, and other foreign countries; the costs of clinical trials may exceed expectations; and the Company's ability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and the timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

INVESTOR CONTACT:

Leiv Lea

Chief Financial Officer

Corvus Pharmaceuticals, Inc.

+1-650-900-4522

[email protected]

MEDIA CONTACT:

Sheryl Seapy

Real Chemistry

+1-949-903-4750

[email protected]