Trethera Announces Jefferies & Company Chairman Emeritus Frank Baxter as Special Advisor
Los Angeles, March 16, 2021— Trethera Corporation (“Trethera”), a biopharmaceutical company committed to developing novel drugs targeting cellular nucleotide metabolism for the treatment of cancer and autoimmune diseases announces that Frank Baxter has been appointed as special advisor. He will be advising Trethera and its board of directors on financing options including private equity, public equity and debt obligations.
Frank Baxter is Chairman Emeritus of the global investment bank Jefferies & Company Inc. (NYSE: JEF) and served as US Ambassador to Uruguay from November 2006 to January 2009. “We are excited to have Frank participating as a special advisor to our company,” said Dr. Jean DeKernion, President of Trethera. “Ambassador Baxter is among the original outside investors in Trethera. His wealth of experience will be invaluable in exploring the most beneficial financing options for our company and its stockholders as we drive toward clinical trial entry. On behalf of the entire company, we welcome him to the team.”
Ambassador Baxter joined Jefferies in 1974 and became its CEO in 1987 succeeding its founder, Boyd L. Jefferies. Under Baxter’s leadership, the company focused on diversification beyond block equity trading. In the 1990s, he made key decisions to expand Jefferies’ bond trading group as well as increase its investment banking presence. Ambassador Baxter’s push into investment banking led to over $20B capital raised for mid-sized companies. In 2002, he retired as CEO after 14 years in the position. Today Jefferies has over $45B in total assets.
Ambassador Baxter is the former director of the NASD and served as Chairman of the Committee, which resulted in the spin-off of NASDAQ. He subsequently served on the Board of NASDAQ as a member of the Executive Committee and Chairman of the CEO search committee. Ambassador Baxter is also a former director of the Securities Industry Association. He currently participates on numerous boards in Southern California for non-profit organizations and educational institutions, including the St. John’s Health Center Foundation, the University of California Berkeley Foundation and the Los Angeles County Museum of Art. Ambassador Baxter is the recipient of the Bet Tzedek House of Justice Award and the City of Angels award. He graduated from the University of California at Berkeley with a Bachelor of Arts degree in economics.
Trethera is a preclinical stage privately held biopharmaceutical company dedicated to pioneering the development of novel treatments for autoimmune diseases and cancers. Founded by prominent UCLA scientists, Trethera is led by experienced management and board members.
Trethera’s innovative approach to targeting nucleotide metabolism led to the development of TRE-515, an orally taken capsule designated by the FDA as an Orphan Drug. TRE-515 is a first-in-class preclinical stage drug that inhibits deoxycytidine kinase (dCK), the rate-limiting enzyme in the nucleoside salvage pathway, one of two biosynthetic pathways that generate DNA precursors. It is believed that some forms of cancer may be preferentially dependent on the salvage pathway to support tumor growth. Certain autoimmune diseases might respond to TRE-515 treatment. Trethera is developing TRE-515 for use as a monotherapy or in combination, to precisely target a metabolic vulnerability of cancer cells or autoimmune diseases that will transform outcomes for patients.
Note on Forward-Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that Trethera believes or anticipates will or may occur in the future are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. Although Trethera has a reasonable basis for the forward-looking statements contained herein, Trethera cautions that such statements are based on current expectations about future events and are subject to risks, uncertainties and factors relating to medical and scientific research, all of which are difficult to predict and many of which are beyond Trethera’s control, that may cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release. These potential risks and uncertainties include, without limitation: the extent to which development of any novel cancer therapies or therapies for autoimmune diseases succeeds; whether Trethera would obtain the necessary regulatory approvals to commence human trials or commercialize TRE-515 or any novel therapies resulting from such research; Trethera successfully implementing its growth strategy, including that relating to its disease therapies; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; and risks and uncertainties applicable to the business of Trethera. The statements in this press release speak only as of the date hereof and Trethera does not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.