Syros Pharmaceuticals reports CEO Nancy Simonian to retire, workforce reduction

Syros Pharmaceuticals announced a strategic realignment to prioritize key development and pre-launch activities to advance tamibarotene for the frontline treatment of higher-risk myelodysplastic syndrome, or HR-MDS, and acute myeloid leukemia, or AML. Also, Syros announced the retirement as CEO of Nancy Simonian and the appointment of Conley Chee, Syros’ chief commercial officer, or CCO, and chief business officer, or CBO, as CEO, effective December 2. Simonian will remain a member of the Syros board of directors following the transition. Syros is prioritizing the advancement of tamibarotene, its oral selective retinoic acid receptor alpha agonist for the frontline treatment of HR-MDS and AML. Syros believes tamibarotene – a biologically targeted agent that has demonstrated high complete response rates, a rapid time to response and favorable tolerability across multiple clinical trials to date – has the potential to set a new standard of care for patients with RARA overexpression, which accounts for approximately 50% of the HR-MDS and 30% of the AML populations. Tamibarotene is currently being studied in SELECT-MDS-1, a pivotal Phase 3 trial evaluating the combination of tamibarotene and azacitidine in newly diagnosed HR-MDS patients with RARA gene overexpression and in SELECT-AML-1, a Phase 2 trial evaluating the combination of tamibarotene, venetoclax and azacitidine in newly diagnosed unfit AML patients with RARA overexpression. Syros will stop further investment in the clinical development of SY-2101, its novel, oral form of arsenic trioxide, or ATO, for the treatment of newly diagnosed acute promyelocytic leukemia, or APL, as well as in its preclinical and discovery-stage programs. Syros may pursue further development of SY-2101 subject to additional capital availability. Syros is streamlining its organization and implementing an approximately 35% workforce reduction to reflect its focus on the clinical development of tamibarotene and potential U.S. commercial launch. Chee, Syros’s CCO and CBO, will succeed Simonian as CEO, effective December 2. He will also join the company’s board of directors upon becoming the CEO.