Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the appointment of Andrew Aromando as Chief Business Officer.
Mr. Aromando most recently served as Chief Operating Officer at Ambrx Biopharma, where his contributions were instrumental in the $2 billion acquisition of the San Diego-based biotech by Johnson & Johnson. In his role at Oncolytics, Mr. Aromando will be responsible for leading global business development. He will also be directly involved with developing corporate, clinical and regulatory strategies. Among his key priorities will be optimizing the value of the Company’s expansive suite of promising clinical data for pelareorep in multiple tumor types, including pancreatic, breast, and anal cancers.
“Andrew’s experience will be invaluable as we pursue aggressive clinical and business development strategies to maximize the value of pelareorep on an accelerated timeline,” said Jared Kelly, Chief Executive Officer of Oncolytics. “He is a proven industry leader with a successful track record of navigating complex transactions and partnerships and an outstanding addition to our executive team.”
Mr. Aromando added, “I’m thrilled to join Oncolytics at such a pivotal moment in its evolution. With promising data in difficult-to-treat cancers and a compelling body of clinical evidence in over 1,100 patients, I believe the Company is uniquely positioned to deliver meaningful value to patients and other stakeholders in the near term.”
Mr. Aromando has over 30 years of experience in the life sciences industry. He has served more than 20 years in C-level positions at leading oncology-focused biopharma companies and global service providers. His senior executive roles at these companies were centered on strategic planning, corporate development, portfolio optimization, and product commercialization. He earned his BA from The College of New Jersey and MA from Rutgers University.
As a material inducement to Mr. Aromando’s appointment as Chief Business Officer, and in accordance with NASDAQ Listing Rule 5635(c)(4), Mr. Aromando has been awarded an initial stock option grant exercisable for 750,000 shares with an exercise price of CAD$0.93, vesting equally over three years with a term of 5 years from the date of grant. The Company also granted Mr. Aromando 500,000 restricted stock units, which vest upon the Company entering into a definitive agreement for certain transactions providing for the acquisition of the Company or the exclusive license of pelareorep.
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