Alpha Tau Appoints Industry Veteran Peter Melnyk as Chief Commercial Officer
September 01 2022 - 4:15PM
Alpha Tau Medical Ltd. (Nasdaq: DRTS) ("Alpha Tau"), the developer
of the innovative alpha-radiation cancer therapy Alpha DaRT™,
announced today that Peter Melnyk, a member of its board of
directors, has resigned from the Company’s Board of Directors in
order to assume the full-time position of Alpha Tau’s Chief
Commercial Officer.
Mr. Melnyk served most recently as CEO of
Fortovia Therapeutics, an oncology supportive care pharmaceutical
and medical device company headquartered in Raleigh, North
Carolina. Before that, he served as Chief Commercial Officer of
Novocure, and led the construction of the global commercial
platform and infrastructure for the launch of Novocure’s Optune
product. Mr. Melnyk was previously Senior Vice President for Sales
and Marketing at OSI Pharmaceuticals, where he led the global
commercialization efforts for targeted oncology drug Tarceva. Prior
to OSI, Mr. Melnyk was executive director of oncology at Pfizer and
Pharmacia and a director of oncology at Bristol-Myers Squibb. Mr.
Melnyk also serves on the Cancer Prevention and Early Detection
Advisory Workgroup of C-Change. Mr. Melnyk holds a B.Sc. and M.Sc.
from McGill University in Montreal.
“We are thrilled to bring Peter in to lead our
commercialization efforts,” said Alpha Tau CEO Uzi Sofer. “As we
continue to progress rapidly towards securing further marketing
approvals for the Alpha DaRT, and with our U.S. pivotal
multi-center study in recurrent squamous cell carcinoma expected to
commence shortly, it is a perfect time to bolster our senior
management team with someone of Peter’s caliber who will be
dedicated to advancing our global commercial strategies. We have
been fortunate to benefit from Peter’s tremendous industry
expertise as a member of the board of directors, and are excited
that he is joining us full-time to focus on these efforts for Alpha
Tau. Peter is the ideal candidate to help us continue our drive
towards being a commercial stage company, and I am confident that
we will continue to move onwards and upwards with his valuable
guidance.”
Mr. Melnyk added, “Serving on the board of
directors has been a terrific opportunity to play a part in the
astounding development of this company, and I am honored to assume
leadership of the commercial efforts of Alpha Tau. I see tremendous
potential for the Alpha DaRT technology, and I look forward to
furthering the company’s goal of using the technology to bring hope
to cancer patients around the world.”
About Alpha DaRT™
Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy) is
designed to enable highly potent and conformal alpha-irradiation of
solid tumors by intratumoral delivery of radium-224 impregnated
sources. When the radium decays, its short-lived daughters are
released from the sources and disperse while emitting high-energy
alpha particles with the goal of destroying the tumor. Since the
alpha-emitting atoms diffuse only a short distance, Alpha DaRT aims
to mainly affect the tumor, and to spare the healthy tissue around
it.
About Alpha Tau Medical Ltd.
Founded in 2016, Alpha Tau is an Israeli medical device company
that focuses on research, development, and potential
commercialization of the Alpha DaRT for the treatment of solid
tumors. The technology was initially developed by Prof. Itzhak
Kelson and Prof. Yona Keisari from Tel Aviv University.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. When used herein, words including "anticipate," "being,"
"will," "plan," "may," "continue," and similar expressions are
intended to identify forward-looking statements. In addition, any
statements or information that refer to expectations, beliefs,
plans, projections, objectives, performance or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking. All forward-looking
statements are based upon Alpha Tau's current expectations and
various assumptions. Alpha Tau believes there is a reasonable basis
for its expectations and beliefs, but they are inherently
uncertain. Alpha Tau may not realize its expectations, and its
beliefs may not prove correct. Actual results could differ
materially from those described or implied by such forward-looking
statements as a result of various important factors, including,
without limitation: (i) Alpha Tau's ability to receive regulatory
approval for its Alpha DaRT technology or any future products or
product candidates; (ii) Alpha Tau's limited operating history;
(iii) Alpha Tau's incurrence of significant losses to date; (iv)
Alpha Tau's need for additional funding and ability to raise
capital when needed; (v) Alpha Tau's limited experience in medical
device discovery and development; (vi) Alpha Tau's dependence on
the success and commercialization of the Alpha DaRT technology;
(vii) the failure of preliminary data from Alpha Tau's clinical
studies to predict final study results; (viii) failure of Alpha
Tau's early clinical studies or preclinical studies to predict
future clinical studies; (ix) Alpha Tau's ability to enroll
patients in its clinical trials; (x) undesirable side effects
caused by Alpha Tau's Alpha DaRT technology or any future products
or product candidates; (xi) Alpha Tau's exposure to patent
infringement lawsuits; (xii) Alpha Tau's ability to comply with the
extensive regulations applicable to it; (xiii) the ability to meet
Nasdaq's listing standards; (xiv) costs related to being a public
company; (xv) changes in applicable laws or regulations; (xix)
impacts from the COVID-19 pandemic; and the other important factors
discussed under the caption "Risk Factors" in Alpha Tau's annual
report filed on form 20-F with the SEC on March 28, 2022, and other
filings that Alpha Tau may make with the United States Securities
and Exchange Commission. These and other important factors could
cause actual results to differ materially from those indicated by
the forward-looking statements made in this press release. Any such
forward-looking statements represent management's estimates as of
the date of this press release. While Alpha Tau may elect to update
such forward-looking statements at some point in the future, except
as required by law, it disclaims any obligation to do so, even if
subsequent events cause its views to change. These forward-looking
statements should not be relied upon as representing Alpha Tau's
views as of any date subsequent to the date of this press
release.
Investor Relations Contact
IR@alphatau.com
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