Invectys, Inc appoints Biopharma Veteran, Praveen Tyle, PhD as President & CEO
Houston, TX, USA, May 04, 2021 (GLOBE NEWSWIRE) -- Invectys, Inc., a clinical-stage immunotherapy company headquartered in Houston and dedicated to the development of a new generation of products for cancer patients, today announced the appointment of Praveen Tyle, PhD, as President & CEO and election to its Board of Directors. Dr. Tyle brings over 35 years of experience in both large and small pharma and biotech companies, most recently serving as Executive V.P. for Research and Development of the public company, Lexicon Pharmaceuticals, Inc. Earlier, Dr. Tyle served as the Corporate Senior Vice President and Chief Scientific Officer of Bausch and Lomb and then as Senior Vice President and Global Head of Business Development and R&D at Novartis OTC. Subsequently, Dr. Tyle joined Osmotica Pharmaceutical Corp. serving as President and CEO where he led the successful merger of the Company into Avista Partners in 2016.
Cary McNair, Chairman of the Board of Invectys and Chairman/CEO of the Houston-based McNair Interests stated: “We are delighted to welcome Praveen as CEO of Invectys. Having served over 3 decades at the intersection of pharma deep science and biopharma business development, Praveen is well poised to lead the commercial development of Invectys’ innovative immunotherapy platforms. His proven management skills and past cmmercial success bodes well for his new leadership role to steer Invectys into a new stage of commercial development.”
Founding investor Shannon Fairbanks, Chair of the Fairbanks Investment Fund Holdings LLC noted: “This is an exciting period producing an explosion of new ideas in the health care sector which is starting to deliver innovative products to cancer patients. Praveen’s vision and leadership will help to deliver a next generation of breakthrough advances in immunotherapy”.
Dr Tyle noted, “I am excited to take the helm at Invectys at this propitious time and I look forward to working with the talented team at Invectys to deliver products based on the Company’s strong scientific promise. I intend to apply my biotech and pharma management and product development experience to bring exciting new immunotherapy solutions to market.”
In 2020, Invectys was awarded a $14.5 million product development research grant from the prestigious Cancer Prevention and Research Initiative of Texas (“CPRIT”) for clinical development of its pathbreaking CAR-T treatment for solid tumors.
Invectys, Inc. is a clinical stage immuno-oncology company spun-out of the world renown Pasteur Institute, Paris. Invectys has two wholly owned subsidiaries, Invectys, S.A. (Paris) which is focused on scientific research and innovation and Invectys USA, Inc. (Houston) which is dedicated to the development of the CPRIT initiative. Since 2010, Invectys has raised over $58 million in private funds to develop two innovative platforms of immunotherapy products which target “universal” tumor antigens.
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