Anderson resigned from the company to pursue other opportunities. In November of 2021, we disclosed Neo-5171 at the American College of Rheumatology Annual Meeting. Ho takes over for interim CFO Kamran Alam, who will continue as a senior strategic advisor to assist in the transition. Thats great question. I look forward to working with Rohan on the Board. Please. During 2022, we plan to initiate a new Phase 1 dose escalation trial testing NL-201 monotherapy in patients with relapsed and refractory hematological malignancies, including multiple myeloma and B cell-derived non-Hodgkin lymphoma. In May, Dr. Priti Patel joined us as Chief Medical Officer. Neoleukin Therapeutics, Inc. Were excited for patients and also for the concept of trying to improve upon a proven mechanism of action in IL-2. What level of monotherapy activity for NL-201 in solid tumors would be clinically meaningful to you? 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MediaJulie Rathbun206-769-9219jrathbun@neoleukin.com, InvestorsSolebury TroutBrian Korb646-378-2923bkorb@troutgroup.com, A photo accompanying this announcement is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/136c9211-7534-4b2c-af0c-d9f8dc6c195e, https://www.globenewswire.com/NewsRoom/AttachmentNg/136c9211-7534-4b2c-af0c-d9f8dc6c195e. Thanks, Jonathan. Download our whitepaper to discover the technical and behavioral skills needed to lead your business forward. Eastwood has worked at Thomson Reuters for over 20 years, most recently as senior vice president and head of corporate finance since 2016.Eastwood was formerly chief operating officer of Thomson Reuters Latin America, CFO of the intellectual property and science business, and has also held several senior roles within the finance organization. We appreciate the dedicated efforts of our talented team at Neoleukin and remain focused on our overriding goal to advance our de novo protein technology platform to benefit patients with serious diseases, including cancer, inflammation and autoimmune diseases. Both Priti and Bill are great additions to our Neoleukin team and are making significant impacts, leading our clinical and research efforts. But were not expecting that to have a big impact at this point. Morgan Stanleys deputy chief financial officer Paul Wirthwill step down from his role at the end of May. Maybe as a follow-up, Im wondering at the moment, where do your plans stand for potentially exploring intratumoral delivery? There will be some renal cell and melanoma in that mix but theres a wide variety of tumor types in dose escalation. Well be utilizing the sites that we have opened already, 8 plus sites will be open with investigators that are already engaged and familiar with the compound. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Wirth, who has been with the bank for 15 years, will stay on as a senior adviser through the end of the year. By continuing to use our site, you agree to our cookie policy. This included stints as a senior financial executive at GE Transportation, GE Power and Water, and GE Energy. We hypothesize that this combination will enable a greater percentage of patients to benefit from immunotherapy and have the potential to move into earlier lines of therapy as a chemotherapy-free regimen. Priti, you want to take that? Thanks and I have a follow-up. Sign up to receive CFOs The Balance in your inbox. 2021 was a busy year for Neoleukin. You know I think were really interested in the scientific approach of intratumoral dosing and this is what were hoping to learn. Neoleukin undertakes no obligation to update or revise any forward-looking statements. Industry Dive, Inc. (c) 2022, All rights reserved, 1255 23rd Street, NW, Suite 550, Washington, DC 20037, Meta, LendingClub, Verisk, Lazard, Berkeley Lights, Avangrid, Timbers Company, Icertis, TaylorMade Golf Company, Invesco, Neoleukin Therapeutics, Meredith, Viatris, CAN, Morgan Stanley, Thomson Reuters, Comerica, Driven Brands. Neoleukin undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Last year, we presented preclinical data demonstrating that NL-201 has synergistic activity when combined with anti-PD-1 therapy, even in checkpoint refractory cancer models. Meredithnamed Jason Frierottas the publishing companys new chief financial officer, effective March 9. And weve seen that in our preclinical data. He also spent eight years in an executive role on GEs corporate audit staff. Were looking forward to the coming months as we progress NL-201 through dose escalation and gather information to help us guide optimal dosing and schedule based on tolerability, pharmacokinetics and pharmacodynamics. And with that, Ill turn the call back over to Jonathan for some concluding comments. CANappointed Al Mirallesas chief financial officer. So there it took a little while to get up and running. Hey, I wanted to ask a question about the combination trial with pembrolizumab and sort of enrollment in that trial, enrollment dynamics and what you expect you know in that versus the monotherapy trial, just given the timing issues associated with a monotherapy trial? Before joining Lowes, Mason was vice president, SEC reporting at Bank of America. All rights reserved. Were looking for further opportunities to explore this. Our operating cash burn for the year was approximately $50 million after adjusting for non-cash items. All forward-looking statements included in this presentation are made as of today, and involve assumptions, risks and uncertainties and actual results could differ materially from those anticipated in the forward-looking statements. In addition, we plan to use information obtained from our solid tumor trial, as well as preclinical data to begin evaluation of NL-201 in hematologic malignancies. I think you know at the end of 2022, there will be some preliminary efficacy for monotherapy that well take a look at. And the initial data that we plan to present in the second half of 2022, which is what weve guided to, well focus on safety and tolerability, mostly and in addition, well look at PK/PD from that dose escalation data. Narula, who has been with Pfizer for 16 years, is currently CFO of Upjohn. In regards to approaching the NL-201 monotherapy readout expect in the second half of this year. So as we discussed NL-201 is currently in a Phase 1 clinical trial with all-comers in solid tumors, relapsed and refractory. Thanks for taking our question. Todays call is being recorded. Throughout the past year, weve made strides in our research efforts as we explore the range of opportunities that Neoleukins de novo protein technology platform has to offer. Thank you. | Source: In addition to Neo-5171, our current discovery stage pipeline includes a T-reg agonist program targeting autoimmune and inflammatory conditions and a next-generation IL-2, IL-15 agonists for oncology indications. Thanks. February 25, 2020 08:00 ET Thanks, Jonathan and good afternoon, everyone. Good afternoon, everyone and thanks for taking my questions. Thank you. That is helpful and I think I understand that. Most recently, Mr. Ho served as Senior Finance Director at DaVita, Inc. a publicly held, Fortune 500 company that is a leading provider of kidney care services in the U.S. We look forward to sharing our progress with you in the months ahead. The increase in net loss, as mentioned, is primarily driven by increased clinical trial expense related to NL-201, increase in personnel costs and costs related to the build out of our headquarters in Seattle, Washington. The NL-201 pembrolizumab combination will be tested as a separate arm of the ongoing Phase 1 trial and is expected to begin enrollment by mid-year. About Neoleukin Therapeutics, Inc.Neoleukin is a biopharmaceutical company creating next generation immunotherapies for cancer, inflammation and autoimmunity usingde novoprotein design technology. Mason has more than two decades of finance experience, most recently assenior vice president, corporate finance and treasurer at home improvement retailer Lowes. This will be an important year for Neoleukin, as we learn about how our lead molecule performs in patients and continue to focus on extending the potential of our technology. Meineke franchisor Driven Brandsnamed Tiffany Masonas chief financial officer. Prior to that, Paschal served more than seven years at fashion company Coach in several executive financial and operating roles, most notably involved in developing Coachs international portfolio. Thank you. In May of last year, we treated our first patient in a Phase 1 clinical trial for NL-201, officially making the transition to become a clinical stage company. Your line is open. He is a former Vice President in the Investment Banking Division of Morgan Stanley & Co., where he managed over $9 billion in financing deals and participated in the completion of more than $5 billion in M&A transactions. His knowledge and insights have been invaluable, and we wish him well in his future endeavors.. So we actually see the opportunities is very broad and were starting off with monotherapy activity to see what the data look like. Fundamental company data and analyst estimates provided by FactSet. Prior to joining CNA, Miralles was the chief financial officer for the investments division of Nationwide Insurance. FDICs Message to Crypto Investors: Digital Assets Arent Insured, Troubled Crypto Lender Babel Lost Big While Trading Client Funds, Ex-Voyager Executive Explores Competing Restructuring Plan for Crypto Lender, Former Chief Financial Officer, Neoleukin Therapeutics Inc. We are testing two schedules, day 1 every three weeks and day 1 and 8 schedules as monotherapy. As there are no more questions, Id like to turn the call back to Jonathan Drachman for closing remarks. CFOs The Balance brings the most important finance reporting to your inbox. Weve enjoyed connecting virtually with members of the investment and scientific community over the past year and look forward to meeting in person when the opportunity permits. We have been extremely fortunate to have Kams guidance these past months after the merger of the two companies. Although our rate of growth slowed somewhat during 2021, we finished the year with more than 90 full-time employees. Presently, Jonathan G. Drachman holds the position of President, Chief Executive Officer, CFO & Director at Neoleukin Therapeutics, Inc. Dr. Drachman is also on the board of Harpoon Therapeutics, Inc. Source: FactSet. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. G&A expenses for the year were $21.5 million, compared to $17.2 million in 2020. And so were having a good enrollment and investigator engagement. Our preclinical data suggests that NL-201 could benefit patients broadly across many indications and in combination with a wide variety of standard of care agents. Rusty has been a terrific Board Member and we have benefited greatly from his wisdom and experience. This guide discusses how to track the correct KPIs based on business needs, how those KPIs impact strategy and how to make sure theyve selected the right KPIs. During our three-year history, Neoleukin has built a state-of-the-art computational and protein engineering research organization. Sure. The first-in-human clinical trial of NL-201 is being conducted in patients with relapsed or refractory solid tumors. NYC Wants In-Person Dining Back. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. He received his Bachelor of Business Administration from the University of Notre Dame and his MBA from the University of Virginia Darden School of Business. And so its a method of delivery that we think could be suited very well for our drug and were exploring opportunities to look at to look at that. I guess also as a bit of a follow-up to some of the prior questions that have been asked. I truly value the time Ive spent with Neoleukin and have enjoyed being able to contribute to a successful transition following the merger with Aquinox, said Mr. Alam. Do you plan on developing NL-201 as a monotherapy in hematologic malignancies? Well provide future updates regarding the status of Neo-5171 and potential development plans. We use cookies to optimize your experience on our website and for analytics and advertising purposes. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Before that, Paschal held executive financial, business development, and strategy roles with a number of companies, including Nestl, Godiva, Pillsbury, and Hagen-Dazs. International stock quotes are delayed as per exchange requirements. He received an undergraduate degree from Harvard University and a doctorate from Harvard Medical School. Neoleukins lead product candidate, NL-201, is a combined IL-2 and IL-15 agonist designed to eliminate alpha receptor binding. Learn how the CFO's partnership with supply chain managers can address current and future pain points. And there is a long history of people using IL-2 as intratumoral treatment, local treatment for melanomas and other accessible tumors. We also moved into our new headquarters in Seattle, with expanded lab and office space for our team. The fact that we have such potent IL-15 activity on NK cells suggests that NL-201 could work really well with monoclonal antibodies. But I think that many of them many of standard of care agents could work very nicely with a very potent IL-2/IL-15 agonists. Neoleukin Therapeutics, Inc. SEATTLE, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Neoleukin Therapeutics, Inc. (Neoleukin) (Nasdaq: NLTX), a biopharmaceutical company utilizing sophisticated computational methods to designde novoprotein therapeutics, today announced the appointment of Robert Ho as Chief Financial Officer, effective March 16, 2020. Bill is a skilled research leader who has guided research efforts on therapeutic candidates from discovery through clinical development utilizing novel platform technologies. While the COVID pandemic has impacted our pipeline development, we now have the space and scientific expertise to make rapid progress. Safe Harbor / Forward-Looking StatementsThis press release contains "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Such statements represent managements judgments, intentions, beliefs and expectations about future events, strategies, product candidates and operating plans. Thanks. Our plans for further development of this program and our early stage pipeline that we are advancing toward potential future clinical evaluation. And just to add a little bit to that, because the interim data will be based on dose escalation and not indication-specific cohorts, its going to be hard to have a real estimate of activity. At this time, we are still testing different disease models and modes of administration. Thanks. Im very pleased to announce that we also have a new Member of our Board of Directors, Rohan Palekar, who is currently the CEO of 89bio. Jonathan will now provide a brief update on our pipeline effort. Most recently, Ho served as senior finance director at health care company DaVita. The Coca-Cola Company, MariaDB, Vistra, Kirklands, Evelo Biosciences, Dynex Capital, Hammitt, Ra Medical Systems. Its a very exciting time to join Neoleukin, as the company continues to advance its novel technology platform, and Im greatly looking forward to working with this dedicated, talented team, said Mr. Ho. First, Id like to take a moment to acknowledge that Bob Ho will be leaving Neoleukin after two years as our CFO to pursue another opportunity. Copyright 2022 CFO. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. Cortenbach shares how he begins his day with meditation, the Robert Frost quote that inspires him, and his favorite leadership lesson. Rohan will be replacing Rusty Williams, who will be stepping off the Board after three years. Priti previously served as Vice President, Head of Hematology Clinical Development at AstraZeneca and brings extensive experience in clinical development strategy and trial execution of investigational therapeutics with a specific expertise in oncology and hematologic malignancies. Priti, you want to comment about the plans for the pembrolizumab combination? Before joining the drug maker, he held financial and operational leadership roles at American Express and Xerox. You know we expect dose escalation to start at a dose level, and these are learnings from what weve learned in monotherapy. Thanks, Priti. Well, Ill start with the answer. This trial will evaluate two different schedules, an ascending dose levels of NL-201 in order to assess safety, pharmacokinetics, pharmacodynamics and antitumor activity. I let Priti comment on that. It will be available for replay on the Investor Relations section of the Neoleukin website approximately two hours after the call for at least 30 days. Following the conclusion of the prepared remarks, we will conduct a question-and-answer session, and instructions will follow at that time. Finally, the potent effect of IL-15 stimulation on NK cell has the potential to increase ADCC activity in future combinations with the rituximab, daratumumab and other monoclonal antibody. Data may be intentionally delayed pursuant to supplier requirements. But those expansions will really be further defined once we get to an RP2D in the combination with KEYTRUDA. Elaine Sunhas been appointed chief financial officer at Halozyme Therapeutics. So with theres a lot of interest obviously in this space. Before we start, Id like to remind you that todays call will include forward-looking statements based on current expectations. Great, thanks for that color. Is this happening to you frequently? [Operator Instructions] Our first question comes from Greg Harrison with Bank of America. At this time, all participants are in listen-only mode. Thomson Reuterssaid Mike Eastwood, senior vice president and head of corporate finance, will succeed Stephane Bello as chief financial officer on March 15. The increase in R&D expenses in 2021 was primarily due to increased expenses incurred from clinical trial activities related to our lead product candidate, NL-201, personnel-related costs and in connection with the advancement of other Neoleukin technologies. We plan to present interim dose escalation data at an appropriate time in the second half of 2022. So youre asking specifically about renal cell and melanoma within our dose escalation and that sort of mix of patients. Now, as Priti mentioned in our prepared comments, things are going really well, we got 8 sites open across three countries. And as far as the follow-up goes, youre right you know that for immuno-oncology products you know one of the benefits is to have a long-lasting benefit. Im pleased to share an update on our clinical program. So I think you know it is we are trying to get a dose and schedule as quickly as possible and as a result, its all relapse and refractory tumor types in this trial. Thank you. And I Im going to ask maybe a question not so much about a competitor, per se, but, you know there is a fair amount of data on [inaudible] due out you know over the next weeks and months, and Im curious as to sort of any type of contingency plan for enrollment that you might make depending on what that data is? Okay, got it. Allison Dukeswill join Invescoas deputy chief financial officer onMarch 10. This business guide shares how CFOs from mCloud Technologies, Pact and Quatris Healthco are raising their finance teams profiles and shaping future business decisions. But we are thinking that potentially, there may be a difference with this molecule, because of the favorable benefit to immune activation at low doses. And now Id like to recap our progress in 2021 and look ahead to milestones expected during 2022. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. Well, I think that NL-201 could be a really interesting monotherapy in both in solid tumors and in hematologic malignancies. Okay, great. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. And last to fall, Bill Arthur joined us as Vice President and Head of Research. In the past he held the position of Chief Medical Officer, EVP-Research & Development at Seagen Inc., Chairman & Chief Executive Officer at Aquinox Pharmaceuticals, Inc., Chief Executive Officer of Neoleukin Therapeutics, Inc., Clinical Professor-Medicine at the University of Washington and Medical Director-Umbilical Cord Blood Program at Bloodworks Northwest. We'll provide strategies for finance teams to proactively prepare. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Dukes will remain deputy chief financial officer through Aug. 1, 2020, and then will become senior managing director and CFO. Id now like to turn the call over to Jonathan Drachman. The science underlying our technology has been published in the prestigious journals, Nature and Science. Our future efforts are focused on modifying the biodistribution of this molecule via targeting and/or conditional activation. The data is a preclinical model, multiple myeloma model demonstrate the ability of NL-201 to delay or prevent relapse following autologous stem cell transplant. Perhaps you know like we have this extreme clinical benefit longer-term, but may not be as obviously observed early on in something like in early response? Thanks for taking my question. Learn how Precision Medical leveraged OneWorld to cut the cost of billing in half and added $2.5M in annual revenue. Thanks for the question. There is no residual or potential bias towards T-regs and no other high affinity sites that need to be saturated in order to activate potential cancer-fighting immune cells. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Looking forward, we expect a number of upcoming milestones in 2022. At the American Society of Hematology Meeting in December, two abstracts reported on preclinical NL-201 antitumor activity, one in non-Hodgkin lymphoma and one in multiple myeloma. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Thank you. Thanks, Sean. We know there are other companies in the space are looking, for instance, at the intravesical approach in bladder cancer. Ask an AI, I Got a Crash Course in Rodent Control atD.C.s RatAcademy. If you have an ad-blocker enabled you may be blocked from proceeding. This guide will explore the top risks for your business, including a possible recession, materials shortages and cyber attacks. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. By creating completely new molecules, we can optimize multiple parameters, including potency, affinity, stability, size and exactly which parts of the target receptors are engaged. So, we are hoping for positive results. It is thermodynamically hyperstable, more potent than native IL-2 and preferentially stimulates naive CD8 T cells and NK cells versus immunosuppressive T regulatory cells at low concentrations.