AUSTIN,
Texas, July 17, 2024 /PRNewswire/
-- InnovoTEX Inc., a pre-clinical stage oncology therapeutics
company, today announced the appointment of Tarak D. Mody, Ph.D., to its board of directors.
InnovoTEX is developing a proprietary platform called TEX Core that
produces next-generation multi-modal cancer therapeutic agents
known as Texaphyrin Drug Conjugates (TDCs), similar to Antibody
Drug Conjugate (ADCs). In his new role as an independent board
member, Dr. Mody will leverage his extensive expertise in oncology
business development, licensing and in forging strategic alliances
with pharma and biotech organizations, to accelerate development of
the platform.
"Dr. Mody's appointment underscores our commitment to advancing
the TEX Core platform", said Jonathan
Arambula, Ph.D., President and CEO of InnovoTEX. "His
scientific insights and industry experience will be invaluable in
expediting our drug development efforts."
The company's lead clinical candidate, OxaliTEX, is at the
forefront of these efforts. As a next-generation TDC, this small
molecule agent targets wild type p53 platinum resistant solid
tumors, addressing a significant unmet need in patients with
cancer.
With a career spanning several decades in the biopharmaceutical
industry, Dr. Mody currently serves as Chief Business Officer at
the Parker Institute for Cancer Immunotherapy (PICI). He previously
served as Vice President of Business Development & Alliance
Management at Five Prime Therapeutics, where he led and executed
multiple strategic transactions, including the $1.9 billion acquisition by Amgen, Inc. in 2021.
Prior to this, Dr. Mody had an extensive 20-year career at
Pharmacyclics Inc. (now AbbVie, Inc.). There, he was a member of
the original scientific team before transitioning into business
development, where he was instrumental in the multi-asset
acquisition from Celera Genomics, which included Bruton's tyrosine
kinase (BTK) inhibitor discovery programs.
From 2006 to 2013, Dr. Mody headed business development and
intellectual property at Pharmacyclics. Notably, he led the
~$1 billion transformative global
50:50 alliance with Johnson & Johnson on Pharmacyclics'
breakthrough product ibrutinib (IMBRUVICA®), a
first-in-class blockbuster BTK inhibitor now approved for several
blood cancers.
Dr. Mody is a co-inventor on over 100 issued US and
international patents, including texaphyrin-based therapeutics,
which are key components of the TEX Core platform. He earned his
Ph.D. in chemistry from The University of
Texas at Austin and holds a BS in chemistry with a minor in
mathematics from Villanova
University.
"I am eager to work with the InnovoTEX team to advance OxaliTEX
and its innovative class of armored cancer therapeutics," said Dr.
Mody. "Like so many of us personally touched by cancer, I am
optimistic that InnovoTEX will deliver a targeted solution for
patients with solid tumors."
About OxaliTEX
InnovoTEX's lead clinical candidate,
OxaliTEX, is designed to treat wild type p53 platinum resistant
solid tumors. Pre-clinical testing has revealed a complete
circumvention of platinum drug resistance and improved safety
margins for OxaliTEX relative to the current standard of care.
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SOURCE InnovoTEX Inc.