– ISRAEL, Jerusalem – NovellusDx, a clinical-stage biotechnology company focused on precision oncology, today announced that it is establishing Fore Biotherapeutics U.S. as its operating company in the USA to reflect its evolved biotech business model focused on matching patients with unaddressed tumor mutations with the right medicines in the clinic.
As part of the strategic refocus, the Company announced the appointment of therapeutic and business development veterans, Dieter Weinand as the Chairman of the Board alongside Usama Malik as CEO and a director.
The Company is in the process of establishing its headquarters and executive leadership team in the U.S.
Dieter Weinand brings decades of general management and commercial leadership experience with executive management roles at Bayer, Sanofi, Pfizer, and BMS among others. He also sits on the boards of several high-profile biotech companies, including as Chairman of the Board of Directors of Replimune.
Mr. Weinand commented: “The Company represents an exciting story in precision oncology today. With the backing of leading life science funds and the strength of its clinical Class I/II BRAF inhibitor, I believe the Company is poised to change the drug development paradigm and has the potential to deliver tangible benefits to currently underserved populations of cancer patients.”
Usama Malik also brings extensive experience from across the healthcare industry into his new role. He has led, grown, and transformed pharma and biotech organizations in executive leadership roles, and has been an advisor to the boards and leadership teams of numerous Fortune 100 companies. He most recently led the turnaround of Immunomedics, which was acquired by Gilead Sciences for $21 billion.
Mr. Malik added: “I believe the Company is at the forefront of redefining drug development in precision oncology. Our highly differentiated and proprietary functional genomics platform allows us to characterize a wide range of mutations on target genes and test their response to candidate compounds. This, in turn, enables us to home in on exciting clinical assets that have a higher probability of success for precision populations. It is a real honor and privilege to join this board and executive team, and I look forward to working with my colleagues to establish a world-class precision oncology company.”
Dr. Michael Vidne, former CEO has transitioned to Chief Business & Strategy Officer.
“I am excited to embark on the next phase of the Company’s journey with the goal of it becoming a world leader in targeted oncology drug development,” said Michael Vidne, Chief Business & Strategy Officer of the Company. “Usama and Dieter bring deep clinical and business development expertise and are recognized, biopharma executives. Their expertise will be invaluable as we begin leveraging our functional genomic platform to build our pipeline of clinical development oncology programs. I look forward to working closely with both and contributing to the continued growth of the Company.”
About NovellusDX
NovellusDX is a clinical-stage biotechnology company focused on hyper-targeting clinical-stage precision oncology therapies to patients with unaddressed tumor mutations. Lead asset PLX8394 is a Class I/II BRAF inhibitor with demonstrated clinical safety and early efficacy signals in an ongoing Phase 1/2 clinical trial. Leveraging a proprietary functional genomics platform that can screen a wide range of known mutations for cancer-driving genes, the NovellusDX R&D team is optimizing drug development by identifying existing compounds with known clinical profiles and a clear path through clinical development to advance new medicines for patients without treatment options.
For more information: https://www.fore.bio/
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