Ambrx Appoints Jared Kelly as General Counsel

SAN DIEGO, June 05, 2023 (GLOBE NEWSWIRE) — Ambrx Biopharma Inc., or Ambrx (NASDAQ: AMAM), today announced the appointment of Jared Kelly as Senior Vice President, General Counsel and Corporate Secretary. After practicing for more than ten years at large corporate law firms, Mr. Kelly brings his extensive experience advising public companies on corporate governance, financing transactions and mergers and acquisitions to Ambrx. He will be responsible for developing and overseeing the legal strategy of the Company and for providing legal guidance to the Company’s board of directors, executive management team and other business units.

Mr. Kelly is an experienced public company lawyer who began his career with Kirkland & Ellis LLP where he represented various public companies in securities offerings, IPOs and merger transactions. He most recently served as a partner at Lowenstein Sandler LLP where his practice focused on representing biotechnology companies in financing transactions, mergers and acquisitions and other complex transactions. Mr. Kelly received his J.D. and an LL.M. in Securities and Financial Regulation from Georgetown University Law Center, where he was the recipient of multiple honors and fellowships, including the Lane Evans Fellowship and Decrane Scholarship.

“Ambrx welcomes Jared Kelly, whose wealth of experience as a member of world-leading law firms representing public companies in corporate and securities law, particularly in the biotech sector, makes him a tremendous asset to our team,” said Daniel J. O’Connor, Chief Executive Officer of Ambrx. “His notable track record of advising numerous companies on significant M&A and financing transactions and serving as outside general counsel for a variety of clients is indicative of his exceptional legal and business acumen. We are excited to welcome him to Ambrx and believe he will play an integral role in advancing our strategic objectives.”

“I am thrilled to join Ambrx—a company with a strong reputation for scientific excellence on the cutting-edge of biotechnology,” said Mr. Kelly. “To have the opportunity to use my legal experience to help develop innovative therapies that address unmet medical needs is extremely humbling and rewarding. I am excited to help the Company continue its focus on achieving its strategic goals and driving value for shareholders.”

In connection with his appointment, Jared Kelly received a one-time inducement award of 2,600,000 ordinary share options, or the equivalent of 371,428 American Depository Shares, which vest over four years.   The Company approved the award as an inducement material to Mr. Kelly entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).

About Ambrx Biopharma Inc.

Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop next generation antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system. Ambrx is advancing a focused portfolio of clinical and preclinical programs designed to optimize efficacy and safety in multiple cancer indications, including ARX517, its proprietary antibody-drug conjugates (ADC) targeting the prostate-specific membrane antigen (PSMA) and ARX788, its proprietary ADC targeting HER2. In addition, Ambrx has preclinical and clinical collaborations with multiple partners on drug candidates generated using Ambrx technology. Ambrx was spun out of The Scripps Research Institute in 2003 and has several other product candidates involving ADCs and other aspects of Ambrx’s protein engineering technology. For more information, please visit www.ambrx.com. Ambrx routinely posts information that may be important to investors on its website.

Forward-Looking Statements

This press release includes certain “forward-looking statements” intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words “intend,” “plan,” and similar expressions. Forward-looking statements are based on Ambrx’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the continuing impact of the COVID-19 pandemic and other public health-related risks and events on Ambrx’s business, operations, strategy, goals and anticipated milestones; Ambrx’s ability to execute on its strategy including with respect to the timing of its R&D efforts, initiation of clinical trials and other anticipated milestones; risks associated with development and marketing approval of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results/data may not be consistent with interim, initial or preliminary results/data or results/data from prior preclinical studies or clinical trials; Ambrx’s ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption “Risk Factors” in Ambrx’s Quarterly Report on Form 10-Q filed with the SEC on May 11, 2023, and elsewhere in Ambrx’s filings and reports with the SEC. Forward-looking statements contained in this press release are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

Contacts

INVESTORS
Mike Moyer
LifeSci Advisors
617-308-4306
mmoyer@lifesciadvisors.com

MEDIA
Mike Tattory
Account Supervisor 
LifeSci Communications 
609-802-6265
media@ambrx.com

Source: Ambrx Biopharma Inc.