Philadelphia, PA (April 7, 2020) – Oncoceutics, Inc., a clinical-stage drug discovery and development company with a novel class of compounds called imipridones, announced today that Wolfgang Oster, MD, PhD, one the company’s co-founders and Chief Executive Officer, has left the company effective April 3 as part of a leadership change.  He has also left the company’s Board of Directors. 

Raymond Wong, a director associated with the company’s lead investor, Spring Mountain Capital, is now the company’s Chairman. Lee Schalop, MD, the company’s Chief Operating Officer, is now Chief Executive Officer. Martin Stogniew, PhD, remains the company’s Chief Development Officer. Josh Allen, PhD, the company’s SVP-R&D, is now the company’s Chief Scientific Officer.

The Board released the following statement: “We are grateful for what Wolfgang has contributed to Oncoceutics, and we wish him well in his future endeavors.”

Mr. Wong of Spring Mountain Capital added: “We are confident in the strong team that we have built at Oncoceutics, including Lee Schalop, Marty Stogniew and Josh Allen, who will continue to serve as the company’s senior leadership.  We are also confident in the continued success of the company’s ONC201 clinical program, including the company’s drive toward regulatory approval in the United States.  On a day-to-day basis, nothing will change for the company’s ongoing clinical trials, scientific collaborations, regulatory interaction, patient support, and communication with the neuro-oncology community.”

About Oncoceutics

Oncoceutics, Inc. is a clinical-stage drug discovery and development company with a novel class of compounds called imipridones that selectively target G protein-coupled receptors for oncology. The first lead compound to emerge from this program is ONC201, an orally active small molecule DRD2 antagonist. The company is supported by grants from NCI, FDA, The Musella Foundation and a series of private and public partnerships. Visit Oncoceutics.com for more information.