Cell and gene therapy veteran and Board member elected Chair following recent $28.4M Series A financing to advance Phase 2 development of lead CAR-T therapy for T-cell lymphoma and pipeline
HOUSTON, Dec. 19, 2024 (GLOBE NEWSWIRE) -- March Biosciences (March Bio), an emerging clinical stage biotechnology company committed to combating challenging cancers and other diseases, today announced the election of Peter Olagunju as Chair of its Board of Directors. The election of Mr. Olagunju, who joined the company’s board in August 2023, follows March Bio’s recently closed $28.4 million Series A financing as it advances clinical development of MB-105, its lead CAR-T therapy candidate for relapsed and refractory CD5 positive T-cell lymphoma.
“Peter’s strategic vision and deep expertise in cell therapy development and manufacturing operations has been invaluable since he joined our board,” said Sarah Hein, Co-Founder and Chief Executive Officer of March Biosciences. “He becomes Board Chair at a pivotal time as we leverage our recent Series A funding to initiate a Phase 2 clinical trial for MB-105, expand our pipeline and strengthen our manufacturing capabilities. Peter’s leadership will be crucial in helping us deliver this potentially transformative therapy to patients with limited treatment options.”
Mr. Olagunju has over 20 years of experience in cell and gene therapy development and commercialization. He currently serves as CEO of Stealth Mode Biotech in Boston, a position he has held since May 2024. He previously served as Chief Operating Officer at TCR² Therapeutics and held executive leadership positions at FerGene and Bluebird Bio, playing an integral role in the development and commercialization of six FDA-approved cell and gene therapies. Through his consulting firm Olio, LLC, he has provided strategic and tactical support for cell and gene therapy companies in areas including corporate strategy, technical operations, and financing.
“March Bio has made remarkable progress in advancing its innovative CD5 CAR-T platform technology, demonstrating promising clinical results in T-cell lymphoma patients with significant unmet needs,” said Mr. Olagunju. “Having spent my career developing and commercializing cell and gene therapies, I am excited about MB-105’s potential to overcome the historical challenges of treating T-cell malignancies. I am honored to serve as Board Chair and work alongside the talented March Bio team as we focus on executing our Phase 2 clinical program and establishing a robust manufacturing process to support future commercialization.”
March Bio’s lead program, MB-105, is a first-in-class CD5-targeted CAR-T therapy in development for relapsed and refractory CD5-positive T-cell lymphoma. The company plans to initiate a Phase 2 clinical trial in early 2025 following encouraging safety and efficacy signals in the ongoing Phase 1 study at Baylor College of Medicine.
About March Biosciences
Houston-based March Biosciences, launched from the Center for Cell and Gene Therapy (Baylor College of Medicine, Houston Methodist Hospital, Texas Children’s Hospital), is dedicated to addressing challenging cancers unresponsive to current immunotherapies. Its lead asset, MB-105, is a CD5-targeted CAR-T cell therapy currently in Phase 1 trials in patients with refractory T-cell lymphoma and leukemia, with promising signals of efficacy and safety to date. A Phase 2 trial is expected to begin in early 2025. The company has raised over $51 million to date, inclusive of venture financing, support from the Cancer Prevention & Research Institute of Texas (CPRIT), and the NIH SBIR program. Learn more at www.march.bio.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Any statement describing March Biosciences’ goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “believes,” “expects,” “anticipates,” “could,” “should,” “would,” “seeks,” “aims,” “plans,” “potential,” “will,” “milestone” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the clinical development of MB-105, the progress of clinical trials for pipeline candidates, regulatory approvals, market demand for new therapies, competitive dynamics in the biotechnology sector, and macroeconomic conditions.
Contacts:
Corporate:
Sarah Hein
Chief Executive Officer
sarah@march.bio
Media:
Jon Yu
MarchBioPR@icrhealthcare.com
