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Portage Biotech Names Peter Molloy CEO Of Newly Re-Launched Cyncado Therapeutics

Portage Biotech re-launches Cyncado Therapeutics™, with Peter Molloy as CEO, advancing adenosine therapies.

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  • Jan 07, 2025

  • Simantini Singh Deo

Portage Biotech Names Peter Molloy CEO Of Newly Re-Launched Cyncado Therapeutics

Portage Biotech, Inc., a clinical-stage immuno-oncology company, made an announcement to re-launch its wholly-owned subsidiary as an independently managed company, as Cyncado Therapeutics™. Peter Molloy has been appointed as CEO of Cyncado Therapeutics. He will be the driving force in securing independent financing and advancing the development of its leading adenosine receptor antagonists.

Peter Molloy, CEO of Cyncado Therapeutics, said in a statement,  “The adenosine pathway offers immense potential in immuno-oncology, and our A2a and A2b receptor antagonists are among the most promising therapeutics in development today. My confidence in these assets has only strengthened through the work we are conducting in the clinic. I am honoured to lead Cyncado Therapeutics at this exciting juncture. I am committed to advancing these programs toward proof of concept, to deliver meaningful patient benefits.”

Cyncado's portfolio includes highly potent and selective A2a and A2b receptor antagonists. This is designed to block immunosuppression signals within the tumour microenvironment. These therapeutics, engineered for dual administration, aim to deliver a more comprehensive and synergistic blockade of pathways. By enhancing the immune system’s ability to fight tumours, this approach promises to create innovative and well-tolerated treatment options for cancer patients.

Alex Pickett, CEO of Portage Biotech, commented, “Portage remains committed to unlocking the full potential of its assets and returning value to its shareholders. We believe that re-launch as an independently managed company is the best way forward for Portage’s adenosine program. Peter Molloy’s broad experience in the biotech industry, deep expertise in adenosine receptor biology, and personal commitment to the assets will help him accelerate clinical progress at Cyncado and maximise the value of its innovative pipeline to Portage shareholders.”

Under Mr. Molloy’s leadership, Cyncado Therapeutics will focus on driving its clinical programs forward and generating proof-of-concept data, further validating the potential of its therapies to transform the field of immuno-oncology.

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