Terns Pharmaceuticals Appoints Robert Azelby to Board of Directors

Rhea-AI Summary

Terns Pharmaceuticals (Nasdaq: TERN) has appointed Robert Azelby to its Board of Directors, while Carl Gordon steps down after seven years of service. Azelby brings 25 years of biotechnology expertise, particularly in strategic, operational, and commercial leadership.

Azelby's extensive experience includes serving as CEO of Eliem Therapeutics (2020-2023) and Alder BioPharmaceuticals (2018-2019), as well as executive positions at Juno Therapeutics and Amgen. His appointment comes as Terns prepares TERN-701 for late-stage studies in chronic myeloid leukemia.

Currently, Azelby serves on the boards of ADC Therapeutics, Autolus Therapeutics, and Cardinal Health. He holds a B.A. in Economics and Religious Studies from the University of Virginia and an M.B.A. from Harvard Business School.

Positive

• Addition of experienced biotech executive with extensive oncology commercialization expertise
• Strategic timing of appointment as TERN-701 advances to late-stage studies
• New director brings relevant board experience from multiple biotech companies

Negative

• Loss of long-term board member with seven years of company knowledge

Seasoned biotechnology CEO brings 25 years of strategic, operational and commercial expertise

FOSTER CITY, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity, today announced the appointment of Robert Azelby, a seasoned biotechnology executive and board director, to the Company’s Board of Directors, effective immediately. In conjunction with Mr. Azelby’s appointment, Carl Gordon is stepping down from the Board of Directors following more than seven years of service.

“I am thrilled to welcome Bob to the Terns Board as he brings extensive strategic and operational leadership across multiple therapeutic indications and stages of development. Bob’s experience developing and commercializing important cancer treatments well positions him to provide guidance as we prepare TERN-701 for late-stage studies in chronic myeloid leukemia,” said Amy Burroughs, chief executive officer of Terns. “We thank Carl for his many contributions to Terns’ development over the past seven years. He has been foundational in establishing the Company from its earliest stages and supporting our evolution into a diversified company with multiple clinical programs.”

“I am pleased to be joining Terns as we advance our lead oncology and obesity programs towards important clinical readouts later this year,” said Mr. Azelby. “I look forward to working with Terns’ talented leadership and Board in advancing these potentially game-changing medicines for the patients who need them most.”

“Terns has come a long way since its inception in 2017 as a company focused on creating revolutionary small molecules with known underlying biology. I am proud of Terns’ many accomplishments over the years, including its strategic leadership and continued clinical execution through challenging times. I remain confident that Terns is well-positioned for continued success as it advances its class leading programs forward,” added Dr. Gordon.

Mr. Azelby is an experienced chief executive officer and veteran board member who has spent more than 30 years in the biopharmaceutical industry. From October 2020 to February 2023, he served as president and chief executive officer of Eliem Therapeutics, Inc. Prior to that, Mr. Azelby served as the chief executive officer of Alder BioPharmaceuticals, Inc. from June 2018 until its acquisition by H. Lundbeck in 2019. From November 2015 to May 2018, Mr. Azelby served as executive vice president, chief commercial officer of Juno Therapeutics, Inc. Prior to that, Mr. Azelby served in various positions at Amgen Inc., including vice president and general manager, oncology, vice president, Amgen oncology sales, vice president, commercial effectiveness unit and general manager of Amgen Netherlands. Mr. Azelby currently serves on the board of directors of ADC Therapeutics, Autolus Therapeutics and Cardinal Health. He previously served on the board of directors of Eliem Therapeutics, Alder BioPharmaceuticals, Chinook Therapeutics, Clovis Oncology, Inc., Cascadian Therapeutics, Inc. and Immunomedics Inc. Mr. Azelby holds a B.A. in Economics and Religious Studies from the University of Virginia and an M.B.A. from Harvard Business School.

About Terns Pharmaceuticals
Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious diseases, including oncology and obesity. Terns’ pipeline contains three clinical stage development programs including an allosteric BCR-ABL inhibitor, a small-molecule GLP-1 receptor agonist, a THR-β agonist, and a preclinical GIPR modulator discovery effort, prioritizing a GIPR antagonist nomination candidate. For more information, please visit: www.ternspharma.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements about the Company within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding the Company’s strategy, future financial condition, future operations, future trial results, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. These statements are subject to risks and uncertainties that could cause the actual results and the implementation of the Company’s plans to vary materially. For a detailed discussion of the risk factors that could affect the Company’s actual results, please refer to the risk factors identified in the Company’s SEC reports, including but not limited to its Annual Report on Form 10-K for the year ended December 31, 2023. Except as required by law, the Company undertakes no obligation to update publicly any forward-looking statements for any reason.

Contacts for Terns

Investors
Justin Ng
investors@ternspharma.com

Media
Jenna Urban
Berry & Company Public Relations
media@ternspharma.com

FAQ

What is the significance of Robert Azelby joining TERN's Board of Directors?

Robert Azelby brings 25 years of biotechnology expertise, particularly valuable for TERN-701's development in chronic myeloid leukemia, given his extensive experience in oncology commercialization and strategic leadership.

How might Robert Azelby's appointment impact TERN's oncology program development?

His experience in developing and commercializing cancer treatments positions him to provide strategic guidance for TERN-701's late-stage studies in chronic myeloid leukemia.

What key experience does Robert Azelby bring to TERN's Board?

Azelby brings experience as CEO of Eliem Therapeutics and Alder BioPharmaceuticals, executive roles at Juno Therapeutics and Amgen, and current board positions at ADC Therapeutics, Autolus Therapeutics, and Cardinal Health.

How long did Carl Gordon serve on TERN's Board before stepping down?

Carl Gordon served on TERN's Board of Directors for more than seven years, since the company's inception in 2017.