Press Release

Press Release

Palleon Pharmaceuticals Appoints Lori Hu of Vertex Ventures HC to Board of Directors

WALTHAM, Mass., June 21, 2018 – Palleon Pharmaceuticals, a company focused on developing Glyco-Immune Checkpoints to treat cancer, announced today the appointment of Lori Hu, Principal of Vertex Ventures HC, to the company’s Board of Directors. Ms. Hu will take the place of James Lee of Vertex Ventures HC as Mr. Lee retires from the Board.

“We are pleased to welcome Lori Hu to Palleon’s Board of Directors, and we thank James Lee for his strategic guidance through our formative stages and our work to date to develop our platforms to target Glyco-Immune Checkpoints,” said Jim Broderick, CEO and Co-Founder of Palleon. “Lori’s broad experience in the healthcare industry and her specific expertise in biopharmaceuticals will be a valuable asset to the company as we continue to grow. At Palleon, we embrace the diverse perspectives contributed by our Board of Directors, Co-Founders, Scientific Advisory Board and employees that will ultimately help us achieve our goal of improving and extending the lives of cancer patients throughout the world.”

Ms. Hu joined Vertex Ventures HC in 2015 and manages global healthcare investments in biotechnology, medical devices and digital health. Prior to Vertex, she worked in business development at Bristol-Myers Squibb. Ms. Hu has also worked with SR One, the corporate venture capital arm of GlaxoSmithKline. Previously, she was a strategy consultant at Accenture, advising biopharmaceutical clients across the U.S. and Asia. Ms. Hu holds a MBA from The Wharton School at the University of Pennsylvania and a BSE in biomedical engineering from Duke University.

With the addition of Ms. Hu, Palleon’s Board of Directors consists of six members, including Jim Broderick, Jens Eckstein of SR One, Steve Hoffman of Aerpio Pharmaceuticals, Bill Burkoth of Pfizer Ventures, and Karen Hong of Takeda Ventures.

About Palleon Pharmaceuticals

Palleon Pharmaceuticals is the leading biotechnology company focused on developing Glyco-Immune Checkpoints to treat cancer. The company’s proprietary CONVERGENCE and EAGLE platforms integrate technologies and insights from world-renowned scientific leaders in the fields of glycoscience and human immunology to create a novel approach to treating cancer. By targeting multiple immune cell types, Glycoimmune Checkpoint inhibition will tackle resistance to first-generation immuno-oncology agents and make possible a wider range of rational combination therapies to treat cancer. Palleon has several cancer drug discovery programs underway. Beyond oncology, other important areas where Glyco-Immune Checkpoints may play a role include infectious diseases, neurodegeneration, inflammation, and fibrosis. The company is advancing its pipeline and development programs with a $47.6 million Series A financing from leading biotech venture investors SR One, Pfizer Ventures, Vertex Ventures HC, Takeda Ventures, and AbbVie Ventures. Learn more at www.palleonpharma.com.

Palleon Media Contact
Krystle Gibbs
Ten Bridge Communications
krystle@tenbridgecommunications.com
(508) 479-6358