Karyopharm Announces Further Transition of Co-Founders Sharon Shacham PhD, MBA and Michael Kauffman, MD, PhD and appointment of Reshma Rangwala, MD, PhD as Chief Medical Officer
- Formerly of Aravive, Genmab and Merck & Co., Dr. Rangwala will Lead Karyopharm's Clinical Development Programs and Strategy -
- As Part of Karyopharm's Evolution, Co-Founders Dr. Shacham and Dr. Kauffman Will Transition Out of the Company on May 31, 2022 -
- Dr. Shacham Will Continue her Engagement with the Company's Scientific Advisory Board and Serve in an Advisory Capacity -
NEWTON, Mass., March 29, 2022 /PRNewswire/ -- Karyopharm Therapeutics Inc. (NASDAQ:KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced the appointment of Reshma Rangwala, MD, PhD, as the Company's Chief Medical Officer. Dr. Rangwala will join the Company in mid-April 2022 and will be responsible for leading the Company's clinical development programs and strategy.
"We are delighted to have Dr. Rangwala join our team at this transformative point in our Company's evolution," said Richard Paulson, President and Chief Executive Officer of Karyopharm. "Her extensive experience developing and executing clinical strategies for novel oncology therapeutics, as well as engaging regulators and the medical community at all stages of development, will be of immeasurable value as we accelerate our four core programs in clinical development."
"I am thrilled to join the Karyopharm team at this exciting and pivotal time in the company's growth," said Dr. Rangwala. "Given their unique mechanism of action, both XPOVIO® (selinexor) and eltanexor have significant potential for patients battling an array of cancer types and I look forward to leading the future clinical development and advancing both assets through the clinic. I am impressed with both the team and the science of XPO1 inhibition and I am excited to realize the potential of these important therapies."
Dr. Rangwala brings to Karyopharm more than a decade of experience in oncology and drug development. She was most recently the Chief Medical Officer at Aravive where she led the clinical development of batiraxcept across multiple tumor types. Prior to Aravive, she served as Vice President, Medical, at Genmab where she led the clinical development program for a first-in-class antibody drug conjugate and managed clinical strategy, protocol development, data monitoring, data analysis, study report authoring, and biologic licensing application preparations. Prior to Genmab, she served as Executive Clinical Director at Merck & Co., where she was involved in the clinical development of KEYTRUDA in non-small cell lung cancer and gynecologic malignancies. She received her B.S. in Biology from Duke University and her M.D./Ph.D. from the University of Cincinnati College of Medicine. Dr. Rangwala completed her internal medicine residency at Barnes Jewish Hospital in St. Louis, MO and her medical oncology fellowship at the Hospital of the University of Pennsylvania.
Further Transition of Co-Founders
Karyopharm also announced today that co-founders Sharon Shacham, PhD, MBA, and Michael Kauffman, MD, PhD will step down from their respective roles as Chief Scientific Officer and Senior Clinical Advisor as of May 31, 2022. Dr. Kauffman has stepped down from his role as a member of the Board of Directors. Dr. Shacham will continue to serve on Karyopharm's Scientific Advisory Board and will serve in an advisory capacity.
"Through their unwavering dedication and passion, Drs. Shacham and Kauffman built Karyopharm from the ground up, bringing hope to countless cancer patients and their families. It has been an honor to work alongside them, and I'm truly grateful for their partnership over the last year. This executive transition has allowed us to glean as much knowledge and insight from our founders as possible, while also bolstering our leadership team in clinical and program management. We believe that we are well positioned for future success, with a promising and focused pipeline of assets as well as a strong commercial strategy," concluded Mr. Paulson.
"I want to thank all of my colleagues at Karyopharm for their partnership over the years as we built the XPOVIO® and eltanexor franchises and advanced our development programs targeting both hematologic and solid tumor malignancies," said Dr. Shacham. "I'm confident the team will continue to achieve its objectives and deliver value to investors, healthcare providers and most importantly, to patients."
"It has been a pleasure working alongside the management team at Karyopharm as we grew the hypothesis about nuclear export and its role in cancer from an idea into a robust commercial enterprise with several programs in development that have significant potential for patients," said Dr. Kauffman. "As the Company enters this next stage of its evolution and growth, I believe Karyopharm is well-positioned to deliver on its mission to bring differentiated medicines to patients battling cancer."
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (NASDAQ:KPTI) is a commercial-stage pharmaceutical company pioneering novel cancer therapies. Since its founding, Karyopharm has been the industry leader in oral Selective Inhibitor of Nuclear Export (SINE) compound technology, which was developed to address a fundamental mechanism of oncogenesis: nuclear export dysregulation. Karyopharm's lead SINE compound and first-in-class, oral exportin 1 (XPO1) inhibitor, XPOVIO® (selinexor), is approved in the U.S. and marketed by the Company in three oncology indications and has received regulatory approvals in various indications in a growing number of ex-U.S. territories and countries, including Europe and the United Kingdom (as NEXPOVIO®), China and Singapore. Karyopharm has a focused pipeline targeting multiple high unmet need cancer indications, including in endometrial cancer, myelodysplastic syndromes and myelofibrosis. For more information about our people, science and pipeline, please visit www.karyopharm.com, and follow us on Twitter at @Karyopharm and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding the impact that the changes to Karyopharm's executive leadership team will have on the progression of Karyopharm's pipeline and the clinical development and commercialization of Karyopharm's products and product candidates. Such statements are subject to numerous important factors, risks and uncertainties, many of which are beyond Karyopharm's control, that may cause actual events or results to differ materially from Karyopharm's current expectations. For example, there can be no guarantee that Karyopharm will successfully commercialize XPOVIO or that any of Karyopharm's drug candidates, including selinexor and eltanexor, will successfully complete necessary clinical development phases or that development of any of Karyopharm's drug candidates will continue. Further, there can be no guarantee that any positive developments in the development or commercialization of Karyopharm's drug candidate portfolio will result in stock price appreciation. Management's expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other factors, including the following: the risk that the COVID-19 pandemic could disrupt Karyopharm's business more severely than it currently anticipates, including by negatively impacting sales of XPOVIO, interrupting or delaying research and development efforts, impacting the ability to procure sufficient supply for the development and commercialization of selinexor or other product candidates, delaying ongoing or planned clinical trials, impeding the execution of business plans, planned regulatory milestones and timelines, or inconveniencing patients; the adoption of XPOVIO in the commercial marketplace, the timing and costs involved in commercializing XPOVIO or any of Karyopharm's drug candidates that receive regulatory approval; the ability to obtain and retain regulatory approval of XPOVIO or any of Karyopharm's drug candidates that receive regulatory approval; Karyopharm's results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, including with respect to the need for additional clinical studies; the ability of Karyopharm or its third party collaborators or successors in interest to fully perform their respective obligations under the applicable agreement and the potential future financial implications of such agreement; Karyopharm's ability to enroll patients in its clinical trials; unplanned cash requirements and expenditures; development or regulatory approval of drug candidates by Karyopharm's competitors for products or product candidates in which Karyopharm is currently commercializing or developing; and Karyopharm's ability to obtain, maintain and enforce patent and other intellectual property protection for any of its products or product candidates. These and other risks are described under the caption "Risk Factors" in Karyopharm's Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the Securities and Exchange Commission (SEC) on March 1, 2022, and in other filings that Karyopharm may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by law, Karyopharm expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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