Fore Biotherapeutics Issues Statement

PHILADELPHIA--(BUSINESS WIRE)--Fore Biotherapeutics, a precision oncology company focused on providing people with unaddressed cancer mutations new hope by connecting them with hyper-targeted medicines using its proprietary functional genomics platform, today issued the following statement:

“Effective immediately, Usama Malik is no longer a Director or Chief Executive Officer of Fore Biotherapeutics. Mr. Malik had served in these roles since his appointment in February of this year. Dieter Weinand, currently Chairman of Fore Biotherapeutics and the former CEO of Bayer Pharma AG, has been appointed Executive Chairman of the Company, assuming Mr. Malik’s responsibilities while the Company conducts a search for a new CEO, a process which has been initiated. The Company became aware yesterday of charges brought against Mr. Malik related to trading in public company securities. The charges in no way relate to privately-held Fore Biotherapeutics, its employees or operations, and Fore Biotherapeutics expects no impact to such operations.”

About Fore Biotherapeutics

As a leader in precision oncology, Fore Biotherapeutics provides patients with unaddressed cancer mutations new hope by connecting them with hyper-targeted medicines. Fore’s integrated functional genomics and machine learning capabilities, known as Foresight, are elucidating disease biology in competitively distinct and unparalleled ways that allow us to uniquely identify clinical-stage assets for people with few to no therapeutic alternatives. Fore is advancing its lead program, FORE8394, to treat both V600 and non-V600 BRAF mutations and continues to refine its clinical approach to serve more patient populations with difficult-to-treat mutations across oncogenes. For more information, please visit www.fore.bio or follow us on Twitter and LinkedIn.

Forward Looking Statements

Some of the statements made in this press release constitute forward-looking statements. These statements involve risks and uncertainties, including the difficulty of predicting U.S. Food and Drug Administration approvals, acceptance and demand for hyper-targeting clinical-stage precision oncology therapies, the impact of competitive products and pricing, reliance on key strategic alliances, availability of intellectual property rights, ability to execute business plans and strategies, and other factors, including general economic conditions and regulatory developments, not within Fore Biotherapeutics control. These risks and uncertainties may cause the actual results, levels of activity, performance or achievements of Fore Biotherapeutics to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by any forward-looking statements contained in this press release. Readers are cautioned not to place undue reliance on such statements, which speak only as of the date hereof. Fore Biotherapeutics undertakes no obligation to update any forward-looking statement, except as required by law.