PhotonPharma installs new CEO as ovarian-cancer drug trial launches

FORT COLLINS — PhotonPharma Inc., which specializes in tumor-specific immune therapies, has hired Derek Brown as its new CEO as the company prepares to launch a trial of its ovarian-cancer drug candidate. 

Brown, who was previously the global commercial development lead at Rallybio Corp. (Nasdaq: RLYB), takes over from previous CEO Alan Rudolph, who will remain a member of PhotonPharma’s board of directors. 

PhotonPharma closed a $2.5 million seed financing round in August to help fund the first phase of a clinical trial for Innocell.

The fundraiser came on the heels of a February clearance from the  U.S. Food and Drug Administration to move forward with the study of the autologous cell-based vaccine therapy for patients with stage III/IV ovarian cancer.

The study is expected to begin in the fourth quarter of this year.

The vaccine therapy used in the study will be manufactured at the City of Hope Cancer Care center in Los Angeles. 

“I’m honored to lead PhotonPharma at such a pivotal time in the company’s journey,” Brown said in a prepared statement. “PhotonPharma’s differentiated and novel cancer immunotherapy programs show great promise to improve the outcomes for patients with solid tumors. I look forward to working closely with the talented team and with the City of Hope as we prepare to launch our first Phase 1 study.”

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