Andy Pasternak appointed Chairman of Context Therapeutics' Board, succeeding Richard Berman, to drive company growth in T cell engagers.
Quiver AI Summary
Context Therapeutics Inc. has appointed Andy Pasternak as the new Chairman of its Board of Directors, effective January 12, 2025, succeeding Richard Berman. Pasternak, who has over 25 years of experience in the biopharmaceutical industry and is currently an Advisory Partner at Bain & Company, expressed his commitment to advancing the company's efforts in T cell engagers for solid tumors. He aims to leverage his extensive expertise to help Context maintain its leadership in this evolving field and improve patient outcomes. CEO Martin Lehr acknowledged Berman's contributions during his tenure and welcomed Pasternak’s extensive background to guide the company into its next growth phase.
Potential Positives
- Andy Pasternak's appointment as Chairman brings decades of global pharmaceutical leadership experience, enhancing the company's strategic capabilities.
- This leadership change signifies a transformation of the Board, positioning Context Therapeutics for future growth in the competitive biopharmaceutical market.
- Pasternak's extensive background, including key roles in corporate strategy and a major acquisition at Horizon Therapeutics, adds significant value and expertise to the company's objectives.
- Context Therapeutics is focused on advancing T cell engagers for solid tumors, which is a rapidly evolving field with high potential, indicating strong future prospects for the company under new leadership.
Potential Negatives
- Appointment of a new Chairman following the departure of Richard Berman may indicate instability or a lack of confidence in the existing leadership.
- Heavy reliance on forward-looking statements may raise concerns about the company's actual ability to achieve its goals and deliver on promises made regarding T cell engagers.
- Continued transformation of the Board suggests possible ongoing challenges that the company is facing, reflecting on the need for new leadership to navigate these issues.
FAQ
Who is the new Chairman of Context Therapeutics?
Andy Pasternak has been appointed as the new Chairman of the Board of Directors for Context Therapeutics.
What experience does Andy Pasternak bring to Context?
Mr. Pasternak brings over 25 years of global pharmaceutical leadership experience and expertise in biopharmaceutical strategy.
What is the focus of Context Therapeutics?
Context Therapeutics focuses on advancing T cell engagers, specifically bispecific antibodies, for the treatment of solid tumors.
What role did Richard Berman have at Context Therapeutics?
Richard Berman served on the Board of Directors and recently stepped down, making way for Andy Pasternak’s appointment.
How can I learn more about Context Therapeutics?
For more information, visit the Context Therapeutics website or follow them on LinkedIn and X (formerly Twitter).
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
Mr. Pasternak brings decades of global pharmaceutical leadership experience
Transition further highlights transformation of the Board to lead Context into next phase of growth
PHILADELPHIA, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Context Therapeutics Inc. (“Context” or the “Company”) (Nasdaq: CNTX), a biopharmaceutical company advancing T cell engagers for solid tumors, today announced the appointment of Andy Pasternak as Chairman of its Board of Directors, succeeding Richard Berman, who stepped down from the Board effective January 12, 2025.
“I am honored to become the next Chairman of the Board of Directors of Context, where I expect to leverage my experience advising and building fully integrated global biopharmaceutical companies to help Context continue to deliver on the promise of T cell engagers for solid tumors,” said Andy Pasternak. “T cell engagers is a quickly evolving field with tremendous potential, and I am excited to work with the Board and management team to keep Context at the forefront of this modality and help improve patients’ lives.”
Andy Pasternak is a biopharmaceutical executive and expert with over 25 years of experience, and currently serves as an Advisory Partner at Bain & Company, a leading global consulting firm. Most recently, Mr. Pasternak served as Executive Vice President, Chief Strategy Officer at Horizon Therapeutics, a biotechnology company focused on serious, rare autoimmune diseases; in this role, he was responsible for corporate strategy, M&A / business development, commercial development, and portfolio management, and he played a central role in the $28 billion acquisition of Horizon by Amgen, Inc. in 2023. Prior to joining Horizon in 2019, Mr. Pasternak was a senior partner at Bain & Company, where he served as Head of the Healthcare Practice in the Americas. Mr. Pasternak currently serves on the Board of Directors of Endo, Inc., a specialty pharmaceutical company. Mr. Pasternak is also an adjunct lecturer at the Kellogg School of Management at Northwestern University and member of the advisory board of the Healthcare at Kellogg Program.
“On behalf of the Board, I would like to thank Richard Berman for his support of Context as he steps down so we can welcome Andy’s extensive pharmaceutical expertise to help lead the Company in this next exciting phase. We greatly appreciate Richard’s contributions over the last four years, and we wish him the best,” said Martin Lehr, CEO of Context.
About Context Therapeutics
®
Context Therapeutics Inc. (Nasdaq: CNTX) is a biopharmaceutical company advancing T cell engaging (“TCE”) bispecific antibodies for solid tumors. Context is building an innovative portfolio of TCE bispecific therapeutics, including CTIM-76, a Claudin 6 x CD3 bispecific antibody, CT-95, a Mesothelin x CD3 bispecific antibody, and CT-202, a Nectin-4 x CD3 bispecific antibody. Context is headquartered in Philadelphia. For more information, please visit
www.contexttherapeutics.com
or follow the Company on X (formerly
Twitter
) and
LinkedIn
.
Forward-looking Statements
This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding strategy, future operations, prospects, plans and objectives of management, including words such as “may,” “will,” “expect,” “anticipate,” “look forward,” “plan,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are forward-looking statements. These include, without limitation, statements regarding (i) our expectation that Mr. Pasternak’s experience and expertise can assist and support the Company and its product candidates, (ii) our expectations regarding the field of T cell engagers, (iii) the potential benefits, characteristics, safety and side effect profile of our product candidates, and (iv) the likelihood data will support future development of our product candidates. Forward-looking statements in this release involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, and we therefore cannot assure you that our plans, intentions, expectations, or strategies will be attained or achieved. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in our filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein. Except as otherwise required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events, or circumstances or otherwise.
Investor Relations Contact:
Jennifer Minai-Azary
Context Therapeutics
IR@contexttherapeutics.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
