Oncolytics Biotech Appoints New CEO to Propel Immunotherapy Advancements

Oncolytics Biotech Names Jared Kelly as New CEO

In a bid to accelerate its progress in cancer immunotherapy, Oncolytics Biotech® Inc. (NASDAQ: ONCY) and (TSX: ONC) has appointed Jared Kelly as the new Chief Executive Officer. This significant leadership change was officially announced on June 11, 2025, marking a pivotal moment for the clinical-stage biotechnology company specializing in developing innovative cancer treatments.

Jared Kelly is widely recognized in the biotech industry for his strategic insights and transformative accomplishments. His most notable achievement includes successfully orchestrating the $2 billion acquisition of Ambrx Biopharma by Johnson & Johnson. Kelly’s rich background features experience advising prominent biotech firms on mergers and licensing agreements at esteemed law firms such as Lowenstein Sandler LLP and Kirkland & Ellis LLP. He holds a Juris Doctor and a Master of Laws from Georgetown University Law Center.

Wayne Pisano, the outgoing Interim CEO and current Chair of the Board, expressed his confidence in Kelly's capabilities. “Mr. Kelly's outstanding vision is a perfect match for the remarkable clinical data produced by pelareorep,” he noted. Pisano believes that Kelly's proven ability to prioritize clinical program development and successfully navigate financial landscapes will be crucial in maximizing Oncolytics' potential to offer transformative solutions for patients while also delivering value to investors.

Kelly shared his enthusiasm about the company’s flagship product, pelareorep, an intravenously-administered immunotherapeutic agent. He described the clinical data from multiple tumor types as striking, highlighting its potential to serve as a fundamental immunotherapy option for various challenging indications. Kelly emphasized the critical role that pelareorep plays in creating robust immune responses, especially in difficult-to-treat tumors, thereby enhancing survival rates in patient populations with historically limited options.

Pelareorep has garnered much attention for being granted Fast Track designation by the U.S. Food and Drug Administration for its applications in metastatic pancreatic ductal adenocarcinoma (mPDAC) and hormone receptor-positive, human epidermal growth factor receptor 2-negative metastatic breast cancer (HR+/HER2- mBC). Phase 1 and 2 trials have shown remarkable outcomes, particularly in mPDAC, where the objective response rate exceeded 60%, significantly outpacing historical benchmarks and achieving two-year survival rates much higher than those previously recorded.

In the context of mBC, pelareorep has demonstrated a meaningful survival benefit in randomized Phase 2 studies, showcasing its promise as a treatment option. Kelly's vision includes refining the development strategies around pelareorep to present its advantages to potential collaborators, thereby unlocking significant opportunities for growth and innovation.

In conjunction with his appointment, Kelly has been granted stock options and performance-based incentives to align his long-term goals with the interests of shareholders. These options include a significant initial stock option grant and additional performance-based stocks that will vest upon meeting certain financial milestones, underscoring the company's commitment to encouraging leadership accountability and excellence.

As Oncolytics Biotech moves forward under Kelly’s leadership, the company is poised to enhance its presence in the oncology landscape and fulfill its mission of developing life-changing therapies. With pelareorep's established safety profile supported by data from over 1,100 patients across diverse tumor types, Oncolytics aims to advance toward registration studies, seeking to deliver substantial improvements in cancer treatment options.

By establishing strategic clinical partnerships and effectively communicating the value of its innovations, Oncolytics Biotech aspires to shape the future of immunotherapy and drive transformative health benefits for patients. For more insight into Oncolytics and its endeavors, interested parties can visit Oncolytics Biotech's website or engage with the company on social media platforms.