Sesen Bio, Inc. announced key leadership transitions as part of its evolution into a commercial-stage oncology company. Thomas Cannell, DVM has been appointed chief executive officer and a member of the board of directors, bringing with him a wealth of leadership experience in building and overseeing strategic operations and global pharmaceutical commercialization for life science companies. Stephen Hurly left his employment with Sesen Bio effective August 7, 2018.

Thomas Cannell most recently served as chief operating officer and president of global commercial products at Orexigen Therapeutics, Inc., where he led the successful commercialization and profitability of Contrave®. Prior to Orexigen, Dr. Cannell spent 27 years with Merck & Co., Inc., where he held senior leadership positions in global commercialization, consumer marketing, and sales operations and management for both development-stage programs and approved marketed products. On August 7, 2018, Abbie C. Celniker, Ph.D., formerly a Class III director, and Paul G. Chaney, formerly a Class II director, each resigned from the Board.

The respective resignations of each of Dr. Celniker and Mr. Chaney were not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices. In connection with the appointment of Dr. Cannell as a Class I director and resignations of Dr. Celniker and Mr. Chaney, the size of the Board was reduced from eight directors to seven directors.