Nuvation Bio Expands Executive Team with Appointment of Healthcare Investment Banking Leader Jennifer Fox as Chief Financial Officer

NEW YORK – October 26, 2020 – Nuvation Bio, Inc., a biopharmaceutical company focused on revolutionizing cancer treatment by discovering, developing and delivering therapies that tackle some of the greatest needs in oncology, today announced the appointment of Jennifer Fox as the company’s chief financial officer. Ms. Fox will be a member of the executive leadership team and will be responsible for corporate strategy, business development, investor relations and corporate communications.

“We are building a company with a mission to develop new therapies that target the greatest needs in oncology and are thrilled to welcome Jennifer to our leadership team,” said David Hung, M.D., chief executive officer. “Jennifer brings the ideal blend of leadership, management capability and strategic finance experience to the role. She is perfectly suited to meet the needs of Nuvation Bio and our constituents as we grow the company and advance our deep pipeline of differentiated and novel investigational oncology therapeutic candidates into clinical development.”

Ms. Fox has more than 25 years of experience in healthcare investment banking and has been a lead adviser to life sciences companies on over 125 financing and strategic transactions. She joins Nuvation Bio from CitiGroup, where she most recently served as a managing director and co-head of the Healthcare Corporate and Investment Banking Group. Prior to CitiGroup, Ms. Fox held senior positions in investment banking at Deutsche Bank, Bear Stearns, Bank of America and Prudential Securities. She holds B.S. degrees in finance and marketing from Manhattan College.

“I’m passionate about innovative science and working with companies that can change the lives of patients, and I can’t think of a better opportunity to join the biopharma industry than the one presented by Nuvation Bio,” said Ms. Fox. “I look forward to partnering with David, the management team and the Board to grow the company as we develop breakthrough medicines for patients with the most difficult-to- treat cancers.”

About Nuvation Bio

Nuvation Bio is a biopharmaceutical company focused on revolutionizing cancer treatment by discovering, developing and delivering therapies that tackle some of the greatest needs in oncology. Nuvation Bio’s proprietary portfolio includes six novel and mechanistically distinct oncology therapeutic product candidates, each targeting some of the most difficult-to-treat types of cancer. Nuvation Bio was founded in 2018 by biopharma industry veteran David Hung, M.D., who previously founded Medivation, Inc., which brought to patients one of the world’s leading prostate cancer medicines. Nuvation Bio has offices in New York and San Francisco. For more information, please visit

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Nuvation Bio’s business strategy, current and prospective product candidates, planned clinical trials and preclinical activities and potential product approvals. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Nuvation Bio and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Nuvation Bio. These forward-looking statements are subject to a number of risks and uncertainties, including the risk that the potential product candidates that Nuvation Bio develops may not progress through clinical development or receive required regulatory approvals within expected timelines, or at all; the risk that clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release; the risk that Nuvation Bio will be unable to successfully market or gain market acceptance of its product candidates; the risk that Nuvation Bio’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Nuvation Bio has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; the effects of competition on Nuvation Bio’s business; the risk that third parties on which Nuvation Bio depends for laboratory, clinical development, manufacturing and other critical services will fail to perform satisfactorily; the risk that Nuvation Bio’s business, operations, clinical development plans and timelines and supply chain could be adversely affected by the effects of health epidemics, including the ongoing COVID-19 pandemic; the risk that Nuvation Bio will be unable to obtain and maintain sufficient intellectual property protection for its investigational products or will infringe the intellectual property protection of others. If any of these risks materialize and Nuvation Bio’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward- looking statements. There may be additional risks that Nuvation Bio does not presently know, or that Nuvation Bio currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Nuvation Bio’s expectations, plans or forecasts of future events and views as of the date of this press release. Nuvation Bio anticipates that subsequent events and developments will cause its assessments to change. However, while Nuvation Bio may elect to update these forward-looking statements at some point in the future, Nuvation Bio specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Nuvation Bio’s assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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