Silverback therapeutics layoffs11/7/2023 ![]() ![]() It is awesome to work with them and the entire Silverback team as we create a new generation of much-needed therapies.” “We are at an important growth phase for the company and their ongoing leadership will be critical as we progress SBT6050 through clinical development, as well as advance our robust preclinical pipeline. Odegard and Hunder bring comprehensive drug development expertise to Silverback, as well as a fierce drive for scientific excellence and improving patient outcomes,” said Laura Shawver, Ph.D., chief executive officer of Silverback Therapeutics. Valerie Odegard, Ph.D., has been named president and chief scientific officer, and Naomi Hunder, M.D., has been named chief medical officer. The Company also announced two key executive promotions. Silverback has persisted in understanding how to deliver TLR8 agonists with a good preclinical safety and tolerability profile, and we are excited to lead an investment round that will help Silverback investigate the translatability of these findings to patients with HER2-expressing solid tumors.” “Broad activation of innate immune cells has been difficult to achieve due to systemic toxicities. “Silverback has made impressive progress developing a differentiated approach to immuno-oncology,” said Scott Platshon, principal, EcoR1 Capital. Silverback intends to use the proceeds to support its clinical development of SBT6050, a TLR8 agonist conjugated to a HER2-directed antibody currently in a Phase 1 clinical study for the treatment of HER2-expressing solid tumors, and to advance its robust pipeline of other ImmunoTAC therapeutics. Venture Partners, Nextech Invest Ltd., Hunt Technology Ventures, and Pontifax Venture Capital. ![]() Existing investors also participating in the financing included OrbiMed Advisors, U.S. EcoR1 Capital led the round, with participation from new investors including Boxer Capital of Tavistock Group, Fidelity Management & Research Company LLC, Nantahala Capital Management, and RA Capital. (“Silverback”) (“the Company”), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered and tissue-targeted therapeutics for the treatment of cancer and other serious diseases, today announced the close of an $85 million Series C financing round. Prior results do not guarantee similar outcomes.SEATTLE-( BUSINESS WIRE)-Silverback Therapeutics, Inc. Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. issued materially false and/or misleading statements and/or failed to disclose that: (i) Silverback's lead product candidate SBT6050, which is in a Phase I/Ib clinical trial, a TLR8 agonist linker-payload conjugated to a HER2-directed monoclonal antibody that targets tumors, such as breast, gastric, and non-small cell lung cancers, was less effective than the Company had represented to investors (ii) accordingly, the Company had overstated SBT6050's commercial and/or clinical prospects and (iii) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.Īccording to a filed complaint, Silverback Therapeutics, Inc. Shareholders interested in representing the class of wronged shareholders have until Januto petition the court. This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Silverback common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about Decemand/or (b) Silverback securities between Decemand September 10, 2021, both dates inclusive. ![]()
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