CytomX is a public, clinical-stage biopharmaceutical company developing a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer.
When Occam was introduced to CytomX, the immuno-oncology field was just taking off and the company was still preclinical. CEO Sean McCarthy saw a path to taking the company public in the near future, and hired Occam to help build a robust board in preparation of the company’s IPO. Beyond that, Sean, as a first-time CEO, was looking to complement himself with experienced CEOs who could help mentor him.
Recruiting a board of directors required both a big picture mindset and an eye for detail, since most company’s governing bodies are evolving organisms. Since CytomX was at an early stage, it was vital to recruit board members who both fit the company’s needs, had the requisite experience, and created positive optics in advance of the IPO.
Occam recruited multiple Board members who fit CytomX’s needs. Rachel Humphrey, M.D., one of the few people in the field who had successfully developed and taken an immuno-oncology drug to market during her time at BMS, brought immense clinical development expertise. She later transitioned to the role of chief medical officer.
As audit chair, Occam placed Matthew Young, who had spent 20 years in investment banking before taking on the role of CFO at Jazz Pharmaceuticals. CEO and President of Geron John “Chip” Scarlett, M.D., was recruited based on his successful experience as a serial CEO. Later placements included Marion McCourt, who took on the role of commercial expert when Rachel stepped down. Occam stepped up again when Marion left the board to hire someone with R&D experience. The result was the placement of notable Professor of Medicine and Director of the Yale Cancer Center, Charles Fuchs, M.D, MPH. Occam has returned multiple times to help CytomX fill its unique needs and create a board dynamic to help them grow.