Osmol Therapeutics Announces Appointment of Teresa Bitetti, President, Global Oncology Business Unit at Takeda Pharmaceuticals, to the Board of Directors
NEW HAVEN, Conn.--(BUSINESS WIRE)--Osmol Therapeutics, a privately held biopharmaceutical company focused on developing a treatment to prevent chemotherapy-induced peripheral neuropathy (CIPN), today announced that Teresa Bitetti, President of the Global Oncology Business Unit at Takeda Pharmaceutical Company Ltd., has joined the Board of Directors of Osmol Therapeutics.
CIPN affects approximately 80 percent of the estimated 360,000 patients who are treated with taxanes in the U.S. and European Union each year. CIPN not only reduces the quality of life for patients being treated with taxanes but, in severe cases, can also lead to sub-optimal dosing, thereby potentially negatively affecting outcomes.
“Osmol is developing a therapy to prevent chemotherapy-induced peripheral neuropathy, a painful and often debilitating off-target toxicity associated with the use of taxanes,” said Teresa Bitetti. “CIPN disproportionately affects women because taxanes remain a mainstay in the treatment of breast cancer. With no FDA-approved treatment for CIPN, there is a tremendous need for a therapy that can prevent this debilitating side-effect and improve the quality of life for patients. I look forward to working with the team at Osmol with the goal of bringing OSM-0205 to cancer patients.”
“Teresa Bitetti, has over 20 years of experience in developing and commercializing oncology products, including global responsibility for oncology business activities,” said Bob Linke, President and Chief Executive Officer, Osmol Therapeutics. “Ms. Bitetti’s experience will be enormously helpful to Osmol as we advance our lead product, OSM-0205, in the clinic and ultimately prepare for a commercial launch. She is highly regarded for her record in commercializing oncology drugs such as Opdivo, as well as for her strategic vision and global team building capabilities. On behalf of all of us at Osmol, I welcome Teresa to the Board of Directors.”
Teresa Bitetti, is currently President of the Global Oncology Business Unit at Takeda Pharmaceutical Company Ltd. and is responsible for oncology business activities around the world, overseeing a global portfolio consisting of therapies in hematological malignancies and lung cancer. Prior to joining Takeda April 2019, Teresa held a series of increasingly senior positions over an 18-year period at Bristol-Myers Squibb, culminating in her appointment as Senior Vice President of Worldwide Oncology Commercialization. Teresa Bitetti has a Master in Business Administration degree from the University of Virginia Darden School of Business and a Bachelor of Arts in Classical Civilization from Wellesley College.
About OSM-0205 and CIPN
Osmol’s lead drug, OSM-0205, is based on Dr. Barbara Ehrlich’s research in neuronal calcium sensor-1 (NCS1) at Yale University and is designed to prevent the off-target calcium surge caused by taxanes and potentially other chemotherapy treatments associated with peripheral nerve damage. Data from preclinical studies conducted by Osmol show that pre-treatment with OSM-0205 prevents the pathologic damage caused by these chemotherapy agents. Further, preliminary data in preclinical models suggests OSM-0205 may have utility in preventing chemotherapy induced cognitive impairment, an indication that will also be assessed by Osmol.
Osmol expects to initiate a Phase 1 bioavailability trial for the treatment of chemotherapy induced peripheral neuropathy in the first half of 2023.
About Osmol Therapeutics
Osmol Therapeutics is a privately held biopharma company focused on developing a treatment to prevent chemotherapy-induced peripheral neuropathy (CIPN) based on the ground-breaking work of Dr. Barbara Ehrlich. The company’s lead indication will be for the prevention of CIPN related to taxane treatment. As an example of the extent of this condition, up to 80% of taxane-treated patients with breast cancer have been reported to experience CIPN. For more information, please go to https://osmoltherapeutics.com/.