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Cyclacel Pharmaceuticals Announces That Kenneth M. Ferguson, Ph.D. Was Elected to Its Board of Directors

CYCC

BERKELEY HEIGHTS, N.J., June 22, 2022 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ: CYCCP; "Cyclacel" or the "Company"), a biopharmaceutical company developing innovative medicines based on cancer cell biology, today announced the election of Kenneth M. Ferguson, Ph.D., to its Board of Directors. Dr. Ferguson was elected by and will represent the 6% Convertible Exchangeable Preferred stockholders.

"We are very pleased to welcome Ken to our Board of Directors,” said Christopher Henney, Ph.D., DSc, Chairman of the Board of Cyclacel. “As a highly accomplished scientist with extensive drug development experience, he will provide significant expertise and insight to help guide our ongoing clinical development programs and advance our company’s pipeline.”

“Cyclacel has made tremendous progress in developing fadraciclib and CYC140, novel and highly differentiated cancer therapies with competitive product profiles to address a broad range of solid tumors and blood cancers,” said Dr. Ferguson. “With fadraciclib, the leading CDK2/9 inhibitor, and CYC140 advancing through Phase 1/2 clinical studies, I look forward to contributing to Cyclacel’s mission in providing tolerated, oral therapies to patients suffering from cancer.”

Dr. Ferguson’s professional experience includes over 30 years of scientific and drug development experience in the biopharmaceutical industry. Currently, he serves as an Operating Partner at Accelerator Life Science Partners. Previously, he was Chief Scientific Officer of EMulate Therapeutics, where he was responsible for the investigation of magnetic field effects on cell processes to enable novel therapeutic strategies. He previously spent seven years with Omeros Corp, where he last held the position of Chief Development Officer. Earlier in his career, he spent over seventeen years with ICOS Corp, culminating in his appointment as President in 2007 where he oversaw the integration of ICOS into Eli Lilly & Co. Prior to his appointment as President, he served in multiple roles within ICOS, including as Vice President, Therapeutic Development, as well as Chief Operating Officer, Chief Scientific Officer, and Member of the Board of Managers of Lilly ICOS LLC where he responsible for strategic management. He has authored or co-authored 26 scientific papers and eight issued patents.

Dr. Ferguson earned a B.S. in Biological Sciences from Cornell University and received his Ph.D. in Pharmacology from the University of Texas Health Science Center. He completed his post-doctoral study at the Cold Spring Harbor Laboratory.

About Cyclacel Pharmaceuticals, Inc.
Cyclacel is a clinical-stage, biopharmaceutical company developing innovative cancer medicines based on cell cycle, transcriptional regulation and mitosis biology. The transcriptional regulation program is evaluating fadraciclib, a CDK2/9 inhibitor, and the anti-mitotic program CYC140, a PLK1 inhibitor, in patients with both solid tumors and hematological malignancies. Cyclacel’s strategy is to build a diversified biopharmaceutical business based on a pipeline of novel drug candidates addressing oncology and hematology indications. For additional information, please visit www.cyclacel.com.

Forward-looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and intended utilization of Cyclacel’s product candidates, the conduct and results of future clinical trials, plans regarding regulatory filings, future research and clinical trials and plans regarding partnering activities. Factors that may cause actual results to differ materially include the risk that product candidates that appeared promising in early research and clinical trials do not demonstrate safety and/or efficacy in larger-scale or later clinical trials, trials may have difficulty enrolling, Cyclacel may not obtain approval to market its product candidates, the risks associated with reliance on outside financing to meet capital requirements, the potential effects of the COVID-19 pandemic, and the risks associated with reliance on collaborative partners for further clinical trials, development and commercialization of product candidates. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and other periodic and other filings we file with the Securities and Exchange Commission and are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Company: Paul McBarron, (908) 517-7330, pmcbarron@cyclacel.com

Investor Relations: Irina Koffler, LifeSci Advisors, LLC, (646) 970-4681, ikoffler@lifesciadvisors.com


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