OncoSec Appoints Sara M. Bonstein as Chief Financial Officer and Chief Operating Officer
SAN DIEGO and PENNINGTON, N.J., July 16, 2018 /PRNewswire/ -- OncoSec Medical Incorporated (OncoSec) (NASDAQ:ONCS), a company developing intratumoral cancer immunotherapies, today announced the appointment of Sara M. Bonstein as Chief Financial Officer and Chief Operating Officer. In these roles, Ms. Bonstein will be responsible for leading the Company's financial and capital markets activities, as well as overseeing all G&A functions and technical operations.
"Sara is a seasoned strategic executive with significant experience in the public biotechnology and pharmaceutical industry," said Daniel J. O'Connor, President and Chief Executive Officer of OncoSec. "She joins OncoSec at an extremely important time, as we look to achieve several key milestones in the remainder of 2018. Sara has a proven track record of success and I am pleased she chose to join OncoSec."
Ms. Bonstein joins OncoSec from Advaxis, where she served as Chief Financial Officer, Secretary, Treasurer and Executive Vice President. Prior to Advaxis, she held key financial leadership positions with Eli Lilly & Company, ImClone Systems and Johnson & Johnson.
Ms. Bonstein holds a B.S. in Finance from The College of New Jersey, an M.B.A. from Rider University and is a graduate of Johnson & Johnson's Financial Leadership Development Program.
Ms. Bonstein has extensive experience in leading biotech companies. While at Eli Lilly & Company, Ms. Bonstein was a Six Sigma Champion and Black Belt, leading multiple projects relating to clinical research, project management, finance, manufacturing, and commercial sales. Prior to her Six Sigma role, Ms. Bonstein held positions of increasing responsibility at ImClone (which was acquired by Eli Lilly in 2008) including Director of Finance where she led all budget and forecast activities for preclinical, clinical and manufacturing research and development. While at Advaxis, she established a strong track record of achieving corporate objectives and streamlining business operations, was responsible for the overall leadership and management of its operations, including corporate finance, investor relations, business development, IT, facilities, legal and human resources and was named the NJBIZ 2016 CFO of the Year for Healthcare for her work.
In connection with her appointment, Ms. Bonstein received a one-time inducement award of 625,000 restricted shares, of which 312,5000 (50%) are fully vested as of the grant date. The remaining shares vest quarterly over a two-year period. The Company approved the award as an inducement material to Ms. Bonstein entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
Ms. Bonstein will succeed Richard Slansky, Chief Financial Officer, who will leave to pursue new opportunities. "We would like to thank Richard for his hard work and dedicated service to OncoSec and we wish him well in his new endeavors," stated Mr. O'Connor.
About OncoSec Medical Incorporated
OncoSec is a biotechnology company developing DNA-based intratumoral immunotherapies with an investigational technology, ImmunoPulse®, for the treatment of cancer. ImmunoPulse is designed to enhance the local delivery and uptake of DNA-based immune-targeting agents, such as plasmid encoded IL-12 (tavokinogene telseplasmid or "tavo"). In Phase 1 and 2 clinical trials, ImmunoPulse® IL-12 has demonstrated a favorable safety profile, evidence of anti-tumor activity in the treatment of various solid tumors, and the potential to reach beyond the site of local treatment to initiate a systemic immune response. OncoSec's lead program, ImmunoPulse IL-12, is currently in clinical development for metastatic melanoma and triple-negative breast cancer. The program's current focus is on the significant unmet medical need in patients with melanoma who are refractory or have relapsed on anti-PD-1 therapies. In addition to tavo, the Company is also identifying and developing new immune-targeting agents for use with the ImmunoPulse platform. For more information, please visit www.oncosec.com.
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SOURCE OncoSec Medical Incorporated
Released July 16, 2018