HOPKINTON, Mass., Jan. 09, 2018 (GLOBE NEWSWIRE) -- Spring Bank Pharmaceuticals, Inc. (Nasdaq:SBPH), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of viral infections, inflammatory diseases and certain cancers, today announced the appointment of Kevin Leach, Ph.D., DABT, as vice president, nonclinical and translational research, a newly created role, and the promotion of Garrett Winslow to the position of general counsel.
“The addition of Kevin, with extensive experience in the biopharmaceutical industry, significantly strengthens our management team,” said Martin Driscoll, president and chief executive officer of Spring Bank. “We are confident that Kevin will expand our operational capabilities, particularly as he works with our chief scientific officer, Dr. R.P. Iyer, to design, validate, and execute translational plans for our portfolio of small molecule nucleic acid hybrid drug candidates. We would also like to congratulate Garrett on his well-deserved promotion, and look forward to his input as we continue to advance our inarigivir and SB 11285 development programs toward several major milestones in 2018.”
Dr. Leach brings to the company over 13 years of experience in the biopharmaceutical industry. Prior to joining Spring Bank, he was senior director, nonclinical and translational research, at Retrophin, Inc., in Cambridge, MA. Before Retrophin, Dr. Leach served in various scientific and research roles of increasing responsibility at Shire Pharmaceuticals and Merck. He has authored more than twelve peer-reviewed publications and contributed to several issued patents and patent applications. Dr. Leach received his B.A. in biology from the University of Richmond, his Ph.D. in biochemistry and molecular biophysics from Virginia Commonwealth University School of Medicine and was a postdoctoral fellow at Massachusetts Institute of Technology.
In conjunction with Dr. Leach’s appointment, Spring Bank reported an inducement option grant to Dr. Leach in accordance with NASDAQ Listing Rule 5635(c)(4). The award was approved by the Board of Directors on Dec. 20, 2017, as an inducement material to Dr. Leach entering into employment with Spring Bank. The inducement grant consisted of an option to purchase up to 50,000 shares of common stock. The options will be exercisable at a price of $12.02 per share (the closing price on Jan. 8, 2018, the date of grant) and will vest as to 25% of the shares on Jan. 8, 2019, and as to an additional 2.08% of the shares per month thereafter, provided that he remains employed by Spring Bank on the vesting date.
Mr. Winslow, who has served as vice president, legal at Spring Bank since Jan. 2017, will continue to be responsible for corporate legal operations and function as the corporate secretary for Spring Bank. Prior to joining Spring Bank, Mr. Winslow served as a member in the corporate and securities group at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. in Boston, where he advised public and private companies on securities law compliance, corporate governance matters and mergers and acquisitions. Mr. Winslow received his master's degree in taxation law from Boston University Law School, J.D. degree from Suffolk University Law School and B.A. degree in business administration from the University of Washington.
About Spring Bank Pharmaceuticals
Spring Bank Pharmaceuticals is a clinical-stage biopharmaceutical company engaged in the discovery and development of a novel class of therapeutics using its proprietary small molecule nucleic acid hybrid (SMNH) chemistry platform. SMNH compounds are small segments of nucleic acids that the company designs to selectively target and modulate the activity of specific proteins implicated in various disease states. The company is developing its most advanced SMNH product candidate, inarigivir soproxil (formerly SB 9200) for the treatment of viral diseases, including hepatitis B virus (HBV). Spring Bank Pharmaceuticals is also developing other SMNH product candidates, including SB 11285, the company’s lead immunotherapeutic agent for the treatment of selected cancers through the activation of the STimulator of INterferon Genes, or STING, pathway. For more information, please visit www.springbankpharm.com