BRISBANE, Calif.--(BUSINESS WIRE)--Maverick Therapeutics Inc., a private immuno-oncology company pioneering advances in redirected T cell therapeutics, announced the appointment of James S. Scibetta as Chief Executive Officer and a member of the Board of Directors, effective July 5, 2017.
“Jim Scibetta has a proven track-record of converting cutting-edge science to therapeutic products that improve patient lives, and he has demonstrated leadership across a wide range of disciplines spanning research, manufacturing, capital markets and commercial. Jim’s outstanding track record of achievement at Pacira Pharmaceuticals, an MPM company, is a preview of the work that he will lead in fully exploiting Maverick’s potential,” said Maverick Chairman and co-founder Luke Evnin, PhD, who is also a co-founder of MPM Capital.
“Advances in immuno-oncology have already produced paradigm shifts in our industry’s thinking about tumor biology and novel therapeutic approaches, but many challenges remain as dozens of companies evaluate both monotherapies and combination approaches. Among the challenges is the selective re-targeting of endogenous T cells to kill tumors and at the same time, spare healthy tissue. With Maverick’s proprietary COBRA™ technology - conditional bispecific redirected activation - we can take advantage of the tumor microenvironment to realize this dual goal. Our COBRA technology has generated positive initial results, and has the potential to lead to breakthrough solid tumor therapeutics,” commented James Scibetta, Chief Executive Officer.
Scibetta joins Maverick from Pacira Pharmaceuticals (Nasdaq: PCRX), where he oversaw as the company’s president global R&D, manufacturing and capacity expansion activities, as well as commercial and medical support activities. He joined Pacira as chief financial officer in 2008 and led the company’s 2011 IPO and subsequent debt and equity financings. Prior to that, Scibetta was an executive with Bioenvision Inc. (Nasdaq: BIVN) a commercial stage oncology company acquired by Genzyme, and Merrimack Pharmaceuticals, an oncology-focused systems biology company. Earlier in his career he spent over a decade in investment banking where he was responsible for sourcing and executing transactions for a broad base of public and private healthcare and life sciences companies. He received a BS in Physics from Wake Forest University and a MBA from the University of Michigan.
About Maverick Therapeutics
Maverick Therapeutics is pioneering the next generation of redirected T cell therapeutics in immuno-oncology. Maverick’s highly innovative platform is designed to deliver potent activity with increased tumor specificity and reduced toxicity, resulting in superior therapeutics for cancer patients and improved clinical success. Maverick was founded by MPM Capital in 2016 through a spin-out from Harpoon Therapeutics. In early 2017 Maverick announced a series of transactions providing $125 million of committed funding from Takeda Pharmaceutical Company Ltd, MPM BioVentures 2014 and MPM Capital’s UBS Oncology Impact Fund. For further information, please visit www.mavericktx.com.
About MPM Capital
MPM Capital is an early‐stage life sciences venture firm founding and investing in companies that seek to cure major diseases by translating scientific innovations into positive clinical outcomes. MPM’s portfolio of companies aims to revolutionize the face of medicine across multiple areas including cancer, neuroscience, metabolic disorders, and regenerative medicine. With its experienced and dedicated team of operating executives and medical and scientific advisory board, MPM is powering novel medical breakthroughs that transform patients’ lives. MPM has more than $2.6 billion dollars in assets under management and is currently investing from two funds ─ the BV2014 and UBS Oncology Impact Fund. For further information, please visit www.mpmcapital.com.