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BOSTON and LONDON - Akari Therapeutics, Plc (NASDAQ: AKTX), a developer of antibody drug conjugates (ADCs) for oncology, announced today the appointment of Mark F. Kubik as Head of Business Development - Oncology. The micro-cap company, currently valued at $41.58 million, is making this strategic move amid challenging market conditions. According to InvestingPro data, the company maintains a moderate debt level with a debt-to-equity ratio of 0.15. Kubik brings over 25 years of industry experience to the role, with a history of successful business development in the field of oncology therapeutics.
Kubik’s career includes positions at companies such as SeaGen (now Pfizer), Abgenix (now Amgen), MacroGenics, OncoImmune, and most recently I-MAB Biopharma. His track record features transformative transactions and strategic alliances, contributing to the development and approval of several therapeutic products.
At Akari, Kubik will lead business development activities for the company’s novel ADC platform and its lead asset, AKTX-101. This includes collaboration and partnership strategies. While InvestingPro analysis indicates current financial challenges with a negative EBITDA of -$16.63M, Akari’s President and CEO, Abizer Gaslightwala, expressed confidence that Kubik’s expertise will be invaluable as the company advances its ADC technology and positions itself in the ADC market.
Kubik himself highlighted the growing interest from Big Pharma in early-stage ADCs and the need for unique payloads with novel mechanisms to enhance the therapeutic potential of current ADCs. He believes that Akari’s first novel payload, a spliceosome inhibitor, positions its lead asset AKTX-101 as a potential first-in-class immuno-oncology ADC therapy for multiple solid tumors.
Akari’s innovative approach to ADCs involves a proprietary linker delivering its novel PH1 payload directly into tumors, differentiating from traditional payloads like tubulin inhibitors and DNA damaging agents. Preclinical studies have shown AKTX-101 to be effective and potentially synergistic with checkpoint inhibitors.
This appointment comes as Akari continues to develop validating data for its novel payload PH1 and advance its lead asset, as well as other undisclosed targets using this technology. The company’s stock has shown strong momentum recently, with an 18% return year-to-date, despite facing significant challenges with its current ratio of 0.15. InvestingPro subscribers have access to over 10 additional key insights and detailed financial metrics that could help evaluate the company’s potential.
The information in this article is based on a press release statement from Akari Therapeutics.
In other recent news, Akari Therapeutics announced the appointment of Abizer Gaslightwala as the new President and CEO, effective April 21, 2025. This leadership change follows the company’s successful pricing of a private placement expected to raise approximately $7.6 million in gross proceeds. The funds will be used to advance Akari’s novel spliceosome inhibitor payload ADC technology and seek licensing partners for its TROP-2 ADC program. The private placement involves the sale of unregistered American Depository Shares and accompanying warrants, with Paulson Investment Company LLC acting as the placement agent. Current CEO Samir R. Patel will step down from his role but will remain on the Board of Directors. Patel has expressed pride in his achievements, including overseeing a successful merger. Gaslightwala brings extensive industry experience, having held senior roles at Jazz Pharmaceuticals, Amgen, Pfizer, and Johnson & Johnson. Akari is focused on developing innovative cancer treatments, with its lead candidate, AKTX-101, targeting the TROP2 receptor.
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