BOULDER, Colo. and CAMBRIDGE, Mass., April 6, 2021 /PRNewswire/ -- Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the formation of the Cogent Research Team led by newly appointed Chief Scientific Officer, John Robinson, PhD.
"Today marks an important step forward for Cogent Biosciences as we announce the formation of the Cogent Research Team with a focus on discovering and developing new small molecule therapies for patients fighting rare, genetically driven diseases," said Andrew Robbins, President and Chief Executive Officer of Cogent Biosciences. "I am thrilled to welcome John onboard as Cogent Biosciences' Chief Scientific Officer. John's expertise and seasoned leadership make him ideally suited to lead this new team of world class scientists. Given the team's impressive experience and accomplishments, we are excited for Cogent Biosciences' future and the opportunity to expand our pipeline and deliver novel precision therapies for patients."
With an exceptional track record of innovation, the Cogent Research Team will focus on pioneering best-in-class, small molecule therapeutics to both improve upon existing drugs with clear limitations, as well as create new breakthroughs for diseases where others have been unable to find solutions. The Cogent Research Team is based in Boulder, Colorado.
"I am excited to join Cogent Biosciences and create a new center of excellence for small molecule discovery and development in the greater Boulder/Denver community," said John Robinson, PhD, Chief Scientific Officer of Cogent Biosciences. "With strong support from Andy and the Cogent Board, I am confident we can build upon our already impressive team of scientists to create a portfolio of new medicines which can bring hope to patients in need."
John joins the Cogent Biosciences team from Pfizer where he most recently served as Vice President, Medicinal Chemistry. For more than 15 years prior to his time at Pfizer, John was a senior member of the Array BioPharma scientific leadership team, a group responsible for developing over 25 Investigational New Drug (IND) applications including five U.S. Food and Drug Administration (FDA) approved medicines: MEKTOVI® (binimetinib), TUKYSA® (tucatinib), VITRAKVI® (larotrectinib), Retevmo™ (selpercatinib) and Koselugo™ (selumetinib). John holds a BS from Indiana University of Pennsylvania and a PhD from the University of Delaware. Learn more about the Cogent Research Team on our website at https://www.cogentbio.com/research/.
Cogent announces the formation of the Cogent Research Team with its lead program, CGT9486, on track with three late-stage clinical trials beginning in 2021, including Advanced Systemic Mastocytosis (1H21), Non-Advanced Systemic Mastocytosis (2H21) and Gastrointestinal Stromal Tumors (2H21). Cogent has a strong existing cash position to support the company's goals into 2024.
About Cogent Biosciences, Inc.
Cogent Biosciences is a biotechnology company focused on developing precision therapies for genetically defined diseases. The most advanced clinical program, CGT9486, is a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis, a serious disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer with strong dependence on oncogenic KIT signaling. Cogent Biosciences is based in Cambridge, MA and Boulder, Co. Visit our website for more information at www.cogentbio.com. Follow Cogent Biosciences on social media: Twitter and LinkedIn.
Notice of Inducement Grants
Pursuant to his employment agreement, Dr. John Robinson has been awarded non-qualified stock options to purchase an aggregate of 500,000 shares of our common stock subject to time-based vesting. Additionally, pursuant to their employment agreements, seven other newly hired employees have been awarded non-qualified stock options to purchase an aggregate of 660,200 shares of its common stock subject to time-based vesting. The inducement grants have an exercise price equal to the closing price of Cogent Biosciences' common stock on the date of commencement of employment, respectively. The inducement grants have been approved by the Compensation Committee of the Board of Directors. The inducement grants will be issued outside of the Company's stockholder-approved equity incentive plans as an inducement grant in accordance with Nasdaq Listing Rule 5635(c)(4).
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: discussion of the company's business and operations; projected cash runways; future product development plans; upcoming results from clinical trials including from its lead program, CGT9486 and future research development plans. The use of words such as, but not limited to, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar words expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our clinical results and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption "Risk Factors" in Cogent Biosciences' most recent Annual Report on Form 10-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither we, nor our affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
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SOURCE Cogent Biosciences, Inc.
Amanda Sellers, asellers@vergescientific.com, 301.332.5574
