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SOUTH SAN FRANCISCO, Calif., Oct. 07, 2019 (GLOBE NEWSWIRE) -- Tempest Therapeutics, Inc., a clinical-stage biotechnology company developing a diverse portfolio of first-in-class small molecules targeting cancer, today announced that Stephen Brady has been appointed president and chief operating officer. Mr. Brady joins Tempest with a successful track record in corporate strategy, business development and finance spanning 20 years in the biopharmaceutical industry.
“I am thrilled to expand and strengthen our executive team with such an experienced and talented leader as Steve,” said Tom Dubensky, Ph.D., chief executive officer of Tempest. “With our lead PPAR-targeted therapeutic progressing in the clinic and plans to advance our dual EP2/EP4 receptor antagonist into the clinic in early 2020, adding Steve’s expertise is essential for the organization in this transformational period. Given Steve’s diverse and successful background, we look forward to his contributions as we advance and realize the potential of our promising and innovative targeted small molecules for cancer.”
Mr. Brady joined Tempest as president and chief operating officer. Most recently, he served as executive vice president, strategy and finance at Immune Design, a biopharmaceutical company that was acquired by Merck earlier this year. At Immune Design, Mr. Brady led a wide range of functions, including strategy, corporate development, IR/PR and finance, and was instrumental in the company’s successful IPO, financings and eventual sale to Merck. Prior to Immune Design, he held roles of increasing responsibility in multiple biopharmaceutical companies, including as vice president of corporate development at Proteolix, where he had primary responsibility for the company’s business development activities and sale to Onyx Pharmaceuticals.
Mr. Brady added, “The talent, experience, and growth and execution philosophy of the internal team and investors, including a vision to develop a diverse set of cancer therapeutics, was a compelling lure. I look forward to working with the Tempest team and am excited about the company’s potential, both in the near and long term.”
About Tempest Therapeutics
Tempest Therapeutics is a clinical-stage biotechnology company advancing small molecules that modulate anti-tumor pathways with the potential to target a wide range of tumors. TPST-1120, which is currently being evaluated in a Phase 1a/1b study in patients with advanced solid malignancies, is a first-in-class, orally available small molecule that blocks the activity of a transcription factor known as PPARα, which regulates a broad set of genes required for fatty acid oxidation (FAO), a metabolic pathway. TPST-1120 has a two-pronged anti-cancer effect, inhibiting the growth of both metastatic tumors that are reliant on FAO and designated immune cell populations that prevent immune recognition and tumor rejection. TPST-1495 is a first-in-human orally available small molecule that blocks two receptors, EP2 and EP4, which bind to prostaglandin (PGE2) and initiate signaling that promotes tumor growth and proliferation of suppressive immune cell populations. Several cancer types are thought to be prostaglandin driven, including colorectal cancer, pancreatic cancer, and head and neck cancer. Signaling through both EP2 and EP4 has been shown to promote tumor growth. In preclinical studies, TPST-1495 has significantly increased potency compared to single EP4 antagonists in clinical development. Tempest anticipates evaluating TPST-1495 in patients with advanced cancers in early 2020.
Tempest, headquartered in South San Francisco, is supported by key healthcare investors, including Versant Ventures, F-Prime Capital, Quan Capital, Lilly Asia Ventures, Foresite Capital and Eight Roads Ventures. More information about Tempest can be found on the company’s website at www.tempesttx.com.
|Sylvia Wheeler||Alex Santos|