Bolt Biotherapeutics (BOLT) Announces Changes to its Board of Directors

Bolt Biotherapeutics (Nasdaq: BOLT), a clinical-stage biotechnology company pioneering a new class of immuno-oncology agents that combine the targeting precision of antibodies with the power of both the innate and adaptive immune systems, today announced the appointments of Brian O’Callaghan and Frank D. Lee to the Board of Directors. With these additions, longtime Director Peter Moldt, Ph.D. is stepping down from the Board of Directors and current Director Jim Healy, M.D., Ph.D. will be assuming the role of Lead Independent Director.

“Brian is a strategic leader with deep biotechnology and pharmaceutical experience across many therapeutics areas, leading new medicines from concept to commercialization. His leadership will prove invaluable as we advance our immuno-oncology pipeline. Frank brings experience shaping treatment paradigms for HER2 breast cancer patients from his time at Genentech and has a proven track record of commercial leadership in building innovative product strategies. We are eager to benefit from his knowledge as we make patient-focused decisions to expand our pipeline,” said Randall Schatzman, Ph.D., CEO of Bolt Biotherapeutics. “Bolt Biotherapeutics has had a transformational year, from our February IPO to our steady progress in the BDC-1001 dose-escalation trial and establishment of collaborations with Genmab, Innovent Biologics, and Bristol Myers Squibb, all while advancing our novel pipeline and demonstrating our leadership in the immuno-oncology space. Dr. Moldt has been a tremendous contributor to Bolt’s successes as a private company over the last several years and on behalf of the whole Board of Directors, I would like to thank him for his hard work and dedication.”

Mr. O’Callaghan has 30 years of experience in biotechnology, pharmaceutical and clinical research organizations, holding senior management and board roles at public and private companies in Europe and the U.S. He currently serves as Chief Executive Officer at ObsEva SA (Nasdaq: OBSV), a clinical-stage pharmaceutical company developing novel therapies to improve women’s health. Mr. O’Callaghan also serves on the board of several privately held biotechnology companies, including Indaptus Therapeutics, Aquavit Therapeutics and Biocom Purchasing Group. Earlier, he held chief executive officer positions at Petra Pharma, Acucela, Sangart and NPS BioPartners, as well as senior management positions at Pfizer, Merck Serono, Novartis, Covance and NPS Pharmaceuticals. Mr. O’Callaghan earned an M.B.A. from the Henley Business School at the University of Reading and a diploma from the Marketing Institute of Ireland.

“Bolt has formed a robust pipeline of immune-stimulating, myeloid-engaging therapeutics with the goal of offering long-term tumor remissions for patients. The uniqueness of the Boltbody™ Immune-stimulating Antibody Conjugate (ISAC) approach is intriguing, and I look forward to sharing my experience with the Bolt team as they advance pipeline programs through clinical development,” said Mr. O’Callaghan.

Mr. Lee has more than 25 years of experience in product development and commercial leadership across a wide range of therapeutic areas within the biotech and pharmaceutical industries. He currently serves as President and Chief Executive Officer of Forma Therapeutics (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers. Prior to joining Forma, Mr. Lee spent 13 years at Genentech, where he was most recently Senior Vice President of global product strategy. Previously, as Vice President of Genentech’s HER2/breast cancer franchise, he was responsible for U.S. P&L for Herceptin®, Perjeta® and Kadcyla®, driving revenues over $4 billion and launching the first HER2 neoadjuvant indication for early HER2 breast cancer patients. Previously, as Vice President of oral oncolytics at Genentech, Mr. Lee held P&L responsibility for Tarceva®, Zelboraf®, Erivedge®, and Xeloda®, advancing personalized medicine for cancer patients with EGFR+ NSCLC and BRAF+ melanoma, and establishing a new treatment option for patients with advanced basal cell carcinoma. Prior to joining Genentech, Mr. Lee spent approximately 13 years at Novartis, Janssen and Eli Lilly. Mr. Lee earned a B.E. in Chemical Engineering from Vanderbilt University and an M.B.A. from the Wharton Graduate School of Business at the University of Pennsylvania.

“Bolt is pioneering a new category of immunotherapies based on the Boltbody ISAC platform and is well poised to make a transformative impact on the lives of patients,” said Mr. Lee. “I am excited to help the Bolt Biotherapeutics drive patient-focused decisions that could advance and grow the company’s pipeline of product candidates.”

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