Promontory Therapeutics Appoints Stan Musial as Chief Financial Officer

Experienced financial executive in building corporate value and capital fundraising

NEW YORK, Nov. 28, 2022 /PRNewswire/ -- Promontory Therapeutics Inc., a clinical stage pharmaceutical company advancing small molecule immunotherapies in oncology, today announced the appointment of Stanley J. Musial, CPA, MBA, as Chief Financial Officer. Musial brings over 25 years of financial, strategic and managerial experience with public and private biotechnology companies, with a demonstrated history in capital raising, IPO execution, mergers and acquisitions, corporate development and investor relations.

"We welcome Stan to the Promontory team at an exciting and pivotal time in our corporate development. Stan's extensive financial experience, with both public and private biotech companies, and familiarity with equity investors and capital markets overall bolsters our capabilities and positions us well as we plan our Series B capital round," said Promontory President and Chief Executive Officer Robert Fallon.

"I am impressed with the caliber of Promontory's management and the fact that the company is already in three Phase 2 clinical trials. Such progress by a small biotech is rare in the industry today," said Musial. "The caliber of clinical collaborators, principal investigators and scientific advisory board members, coupled with a deeply experienced board of directors, bodes well for the company's successful development of novel small molecule immunotherapies, beginning with its lead clinical agent, PT-112."

Musial was previously CFO of Aruvant Sciences. Prior to that, he was the CFO and Chief Business Officer of Xenikos B.V., a clinical-stage company developing innovative immunotherapies, as well as the CFO of Erydel SpA, a late-stage biotechnology company in the rare disease space with a Phase 3 product candidate. Preceding these appointments, Musial served as the Executive Vice President and CFO for almost six years at Egalet (subsequently acquired by Assertio), where he led the effort to take the company public on NASDAQ. Musial has held CFO and financial positions at several other biotechnology, medical device and healthcare services companies starting out his career at the public accounting firm KPMG. He holds an MBA degree from Temple University, a BS degree in Accounting from Pennsylvania State University, and is a Certified Public Accountant.

Promontory Therapeutics Inc. is a privately held, clinical stage pharmaceutical company focused on small molecule immunotherapy. The company's lead candidate, PT-112, is the first small molecule conjugate of pyrophosphate in oncology, and possesses a unique pleiotropic mechanism of action that promotes immunogenic cell death, through the release of damage associated molecular patterns (DAMPs) that bind to pattern recognition receptors on dendritic cells and promote the adaptive immune response in the tumor microenvironment. Clinical data generated across three Phase 1 studies have demonstrated single-agent anti-cancer activity and an attractive tolerability profile, and three Phase 2 studies of PT-112 are underway. The company's research and development work has been conducted in the United States, Europe and Asia, along with a sub-license agreement for the development, commercialization and use of PT-112 in Greater China. The company also sponsors the ongoing clinical study of PT-112 in combination with the PD-L1 inhibitor avelumab under a collaboration agreement with Pfizer and Merck KGaA, Darmstadt, Germany (operating as EMD Serono in the US and Canada), and has an active Phase 2 trial underway with the NCI utilizing PT-112 in thymic epithelial tumors where PT-112 has received Orphan Drug designation.

To learn more about Promontory Therapeutics, visit the company's website here.

CONTACTS:
Promontory Therapeutics
Brooke Raphael, MS
VP, Strategy & Operations
Tel: +1 (646) 974-6453
Email: braphael@promontorytx.com

ICR Westwicke

Investors:
Stephanie Carrington
Tel: +1 646 277 1282
Email: Stephanie.Carrington@westwicke.com

Media:
Alexis Feinberg
Tel: +1 203-939-2225
Email: alexis.feinberg@westwicke.com

View original content to download multimedia: https://www.prnewswire.com/news-releases/promontory-therapeutics-appoints-stan-musial-as-chief-financial-officer-301685630.html

SOURCE Promontory Therapeutics Inc.