Thursday, March 19, 2020 @ 12:00 am
ADC Therapeutics SA, a clinical-stage oncology-focused biotechnology company pioneering the development and commercialization of highly potent antibody drug conjugates (ADCs) for patients suffering from hematological malignancies and solid tumors, today announced that Ron Squarer is to be appointed Chairman of its Board of Directors and an advisor to the Company. Peter B. Corr, Ph.D., who has served as Chairman since the Company's founding in June 2011, will remain on the board as a Director.
Mr. Squarer served as Chief Executive Officer and a member of the Board of Directors of Array BioPharma, Inc. (Array) from 2012 until 2019, during which time he executed an oncology-focused research, development, and commercialization strategy that culminated in the successful commercial launches of Braftovi (encorafenib) and Mektovi (binimetinib). During his tenure at Array, the company's market capitalization grew more than 30-fold, and the company was ultimately acquired by Pfizer Inc. at a total enterprise value of approximately $11.4 billion.
"Ron's nearly 30-year career in the global biopharmaceutical industry includes extensive oncology leadership experience spanning commercial, clinical development and research prioritization roles," said Dr. Corr, who is also Co-Founder and Managing General Partner of Auven Therapeutics. "His commercialization expertise will be incredibly valuable to ADC Therapeutics as we prepare to submit a Biologics License Application to the U.S. Food and Drug Administration for Lonca in the third quarter of 2020 and continue to build out the commercial organization in preparation for the anticipated launch of Lonca in the second quarter of 2021, if approved. I'm delighted to pass the Chairman role to Ron and welcome him to the Board of Directors."
Before joining Array, Mr. Squarer held positions of increasing responsibility with Hospira, Inc., a global pharmaceutical and medical device company. As Senior Vice President and Chief Commercial Officer at Hospira, he was responsible for delivering $4.0 billion in annual revenue. Mr. Squarer joined Hospira from Mayne Pharma, when it was sold to Hospira in 2007. Before serving as Senior Vice President, Global Corporate and Business Development at Mayne Pharma, Mr. Squarer held leadership roles at both Pfizer (focused on oncology) and SmithKline Beecham Pharmaceuticals (now GlaxoSmithKline) in the U.S. and Europe.
Mr. Squarer currently serves as a member of the Board of Directors of the public companies Deciphera Pharmaceuticals, Inc. and Retrophin, Inc. He earned an MBA from the Kellogg School of Management, Northwestern University, and a bachelor's degree in biochemistry from the University of California, Berkeley.
"I'm pleased to take on the role of Chairman of the Board of Directors as ADC Therapeutics evolves from research and development into a commercial organization," said Mr. Squarer. "I look forward to actively working with Chris Martin, the board and the broader team to continue preparations for the launch of Lonca and to advance the development of novel ADCs for patients suffering with hematological cancers and solid tumors."
"Peter Corr's vast experience in drug discovery and development has been invaluable in steering ADC Therapeutics to the point where we are now fast approaching the commercialization of Lonca while continuing to develop our deep pipeline of ADCs. It is characteristic of Peter to pass the baton on to a Chairman with Ron's depth of experience. I am excited to be working closely with Ron as he helps the Company deliver on the full clinical and commercial potential of our pipeline," said Chris Martin, Chief Executive Officer of ADC Therapeutics.