Artax Announces Executive Team Changes, Expansion as Company Heads into Pivotal 2024 Year

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Jan 04, 2024, 08:00 ET

Former Board Chair Dr. Rob Armstrong Now Artax CEO as Joseph Lobacki Moves to Advisory Role

Additional Promotions Include Dr. Andre Hoekema to Board Chair, Dr. Maria Nichol to Chief Business Officer

Company Expecting AX-158 Phase 2a Psoriasis Trial Safety, Efficacy Results in Second Half of 2024

CAMBRIDGE, Mass., Jan. 4, 2024 /PRNewswire/ -- Artax Biopharma, Inc., a clinical-stage biotechnology company focused on transforming the treatment of autoimmune diseases, today announces important changes and expansions to its Executive Team as the Company enters its critical next phase. Former Board Chair Rob Armstrong has assumed the CEO role from Joseph Lobacki, who moves to an advisory role as he departs the Company to pursue new opportunities. Additionally, Dr. Andre Hoekema was promoted to Artax Board Chair, and Dr. Maria Nichol to Artax Chief Business Officer. These changes are currently in effect.

In the second half of 2024, Artax expects safety and efficacy results to be available from its Phase 2a trial evaluating the Company's lead immunomodulation agent AX-158 in psoriasis.

Dr. Rob Armstrong takes the reins as Artax's Chief Executive Officer (CEO) from his previous role as the Company's Chair of the Board of Directors. He has more than 20 years of extensive executive experience working in biopharmaceutical industry research and development, having been involved in discovery and clinical development programs spanning multiple disease areas.

"As we start 2024, I am excited and ready to steer the Company as CEO through our next critical stage as we progress our clinical development platform transforming autoimmune disease treatment. As I assume this new role, I and my fellow Artax Directors would like to thank Joe Lobacki for his leadership in moving Artax and our lead AX-158 program into Phase 2. We are grateful that Joe will continue to serve as an external Company advisor to help ensure a smooth transition to the new leadership, as well as to support company activities in the coming year," stated Artax CEO Dr. Armstrong.

Current Artax Director Dr. Andre Hoekema assumes the role of Artax Board Chair. Dr. Hoekema has an extensive biotech resume, including deep experience in M&A, licensing, and corporate development over the last 40 years, including a successful track record in building partnerships at Galapagos.

Dr. Maria Nichol now serves as Artax's Chief Business Officer, having previously been the Company's Vice President of Business Development. Dr. Nichol will lead all company partner- and investor interactions. Dr. Nichol brings more than 20 years of experience in the biotechnology industry providing commercially focused, strategic advice on IP and corporate development.

"We are delighted to augment the current strong executive team with the considerable strategic experience of Rob, Andre, and Maria – accomplished industry professionals who know Artax well, having been instrumental team members who helped advance the Company to this important point. We are excited for additional safety data and the first efficacy demonstration of AX-158 in psoriasis which we expect later this year," stated Artax Biopharma's Director Alan Walts, Ph.D. "The team's knowledge and guidance will be essential to ensure that we reach patients as quickly as possible with our novel agent AX-158, our first-in-class immunomodulator being evaluated for the treatment of autoimmune diseases."

About Immunomodulator AX-158
Immunomodulation assists the immune system in maintaining healthy control and addresses the underlying driver of autoimmune diseases. AX-158 is an investigational oral, small molecule TCR activation modulator with a novel first-in-class mechanism that selectively modulates, or adjusts, T cell responses which play a critical role in healthy immune system function. By acting at the T Cell Receptor (TCR), AX-158 modulates multiple disease-causing cytokines without causing immunosuppression. It can be taken with or without food, and may be used as a monotherapy, or in combination.

About Artax Biopharma and Immunomodulation
Artax Biopharma is a clinical-stage biotechnology company transforming the treatment of T Cell driven autoimmune diseases through innovative small molecules delivering immune system modulation without immunosuppression. Immunomodulation maintains healthy control of the immune system and addresses the underlying source of T Cell-driven diseases. Central to a well-functioning immune system is the T Cell Receptor (TCR). When TCR signaling becomes dysregulated, it causes T Cell-driven conditions, including autoimmune diseases, and induced T Cell pathologies where medical treatments result in immune reactions (such as stem cell transplants resulting in acute graft-versus-host-disease or immuno-oncology treatments resulting in immune related-adverse events). We believe the immunomodulation mechanism offered by our investigational agents holds broad potential to revolutionize how these T Cell-driven autoimmune diseases are addressed, while not impairing the ability of a patient's immune system to function properly. artaxbiopharma.com

For Phase 2a study inquiries, please contact: [email protected]

SOURCE Artax Biopharma