Terns Pharmaceuticals Appoints Amy Burroughs as Chief Executive Officer
08 February 2024 - 12:05AM
Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq:
TERN), a clinical-stage biopharmaceutical company developing a
portfolio of small-molecule product candidates to address serious
diseases, including oncology and obesity, today announced the
appointment of Amy Burroughs as chief executive officer (CEO),
effective immediately. Ms. Burroughs will also join the Terns board
of directors.
“We are pleased to welcome Amy to the Terns team to
lead the company in its next stage of growth,” said David Fellows,
chairman of the board of directors. “Over the course of her
distinguished career, Amy has advanced therapeutics through the
drug development process in many disease areas and has led
commercial, financial, partnering and business strategies at both
small and mid-sized companies. We are confident her leadership
experience as a CEO and senior executive will be incredibly
valuable as we advance our programs to later stage development and
partnership.”
“It is a privilege to have the opportunity to work
with the Terns team to continue the progress made over the last
five years to discover and develop potentially best-in-class small
molecules with clinically validated mechanisms of action that will
bring important therapies to people with serious diseases,” said
Ms. Burroughs. “The company has the strong balance sheet,
capabilities and people to execute on both near-term and
longer-term value drivers in oncology and metabolic diseases.”
Most recently, Ms. Burroughs served as CEO at
Cleave Therapeutics, where she led the company through financings,
spearheaded licensing and collaboration deals, and oversaw the
clinical development of its investigational therapy, CB-5339, for
the treatment of acute myeloid leukemia. Previously, she served as
executive in residence at 5AM Ventures and, in parallel, as senior
advisor to one of its portfolio companies, Crinetics
Pharmaceuticals, during its initial public offering. Earlier in her
career, Ms. Burroughs held roles of increasing
responsibility in commercial and strategy at Genentech, commercial
and business development at other high growth therapeutics
companies, talent and governance at Egon Zehnder International, and
brand management at Procter & Gamble. Ms. Burroughs earned an
M.B.A. from Harvard Business School, where she graduated as a Baker
Scholar, and a B.A. in computer science with a minor in economics
from Dartmouth College. She is currently a member of the board and
audit committees at Tenaya Therapeutics.
About Terns PharmaceuticalsTerns
Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company
developing a portfolio of small-molecule product candidates to
address serious diseases, including oncology and obesity. Terns’
pipeline includes three clinical-stage development programs
including an allosteric BCR-ABL inhibitor, a small-molecule GLP-1
receptor agonist, a THR-β agonist and preclinical GIPR modulator
programs. For more information, please
visit: www.ternspharma.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains forward-looking
statements about Terns Pharmaceuticals, Inc. (the “Company,” “we,”
“us,” or “our”) within the meaning of the federal securities laws,
including those related to the Company’s expectations of potential
results of development activities of the Company and its partners;
the potential indications to be targeted by the Company with its
small-molecule product candidates; the therapeutic potential of the
Company’s small-molecule product candidates; the potential for the
mechanisms of action of the Company’s product candidates to be
therapeutic targets for their targeted indications; the potential
utility and progress of the Company’s product candidates in their
targeted indications, including the Company’s clinical development
plans and activities; the Company’s expectations regarding the
profile of its product candidates, including efficacy,
tolerability, safety, metabolic stability and pharmacokinetic
profile and potential differentiation as compared to other products
or product candidates; the Company’s plans for and ability to
continue to execute on its current development strategy; and the
Company’s expectations with regard to its cash runway and
sufficiency of its cash resources. All statements other than
statements of historical facts contained in this press release,
including statements regarding the Company’s strategy, future
financial condition, future operations, future trial results,
projected costs, prospects, plans, objectives of management and
expected market growth, are forward-looking statements. In some
cases, you can identify forward-looking statements by terminology
such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,”
“continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,”
“intend,” “may,” “objective,” “plan,” “positioned,” “potential,”
“predict,” “seek,” “should,” “target,” “will,” “would” and other
similar expressions that are predictions of or indicate future
events and future trends, or the negative of these terms or other
comparable terminology. The Company has based these forward-looking
statements largely on its current expectations, estimates,
forecasts and projections about future events and financial trends
that it believes may affect its financial condition, results of
operations, business strategy and financial needs. In light of the
significant uncertainties in these forward-looking statements, you
should not rely upon forward-looking statements as predictions of
future events. These statements are subject to risks and
uncertainties that could cause the actual results and the
implementation of the Company’s plans to vary materially, including
the risks associated with the initiation, cost, timing, progress,
results and utility of the Company’s current and future research
and development activities and preclinical studies and clinical
trials. These risks are not exhaustive. For a detailed discussion
of the risk factors that could affect the Company’s actual results,
please refer to the risk factors identified in the Company’s SEC
reports, including but not limited to its Annual Report on Form
10-K for the year ended December 31, 2022 and its Quarterly Report
on Form 10-Q for the periods ended March 31, 2023, June 30, 2023
and September 30, 2023. Except as required by law, the Company
undertakes no obligation to update publicly any forward-looking
statements for any reason.
Contacts for Terns
InvestorsJustin
Nginvestors@ternspharma.com
MediaJenna UrbanBerry &
Company Public Relationsmedia@ternspharma.com
Terns Pharmaceuticals (NASDAQ:TERN)
Historical Stock Chart
From Apr 2024 to May 2024
Terns Pharmaceuticals (NASDAQ:TERN)
Historical Stock Chart
From May 2023 to May 2024