About Summit:

Ivonescimab, also known as SMT112, is a novel, potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule. Ivonescimab displays unique cooperative binding to each of its intended targets with multifold higher affinity when in the presence of both PD-1 and VEGF.

Summit has begun its clinical development of ivonescimab in non-small cell lung cancer (NSCLC), with three active Phase III trials:

• HARMONi is a Phase III clinical trial which intends to evaluate ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with a 3rd generation EGFR TKI (e.g., osimertinib).
• HARMONi-3 is a Phase III clinical trial which is designed to evaluate ivonescimab combined with chemotherapy compared to pembrolizumab combined with chemotherapy in patients with first-line metastatic NSCLC.
• HARMONi-7 is a Phase III clinical trial which is intended to evaluate ivonescimab monotherapy compared to pembrolizumab monotherapy in patients with first-line metastatic NSCLC whose tumors have high PD-L1 expression.

Ivonescimab is an investigational therapy that is not approved by any regulatory authority in Summit’s license territories, including the United States and Europe. Ivonescimab was approved for marketing authorization in China in May 2024. Ivonescimab was granted Fast Track designation by the US Food & Drug Administration (FDA) for the HARMONi clinical trial setting.

Overview of Role:

As the Executive Director of Procurement you will report to the Chief Accounting Officer and lead the procurement strategy and operations for Summit with a focus on clinical research organizations (CROs), contract manufacturing vendors, wholesale distributors and commercial contracts. The role will be instrumental in driving cost efficiencies, ensuring quality and fostering strategic partnerships that align with our business objectives and regulatory requirements.

Role and Responsibilities:

• Drive the development of the procurement strategy tailored to the biotech sector with a focus on Clinical Research Organization, contract manufacturing and drug distribution
• Build and execute global and local sourcing strategies for multiple spend categories in scope of responsibility, specifically for R&D, Clinical, Manufacturing, and Commercial organization, operating with a global perspective
• Manage the contract negotiation process across the entire life cycle including vendor identification, RFP, vendor selection decision, contracting negotiation, performance monitoring, change orders, and ensures proper close out of agreement to maximize contract value and achieve target savings.
• Responsible for defining and executing the day-to-day successful operations of the Procurement Function, ensuring a high level of customer service with business users across the Company
• Lead and oversee contract drafting, negotiations, management and administration for the Procurement function
• Establish Key Performance Indicators (KPIs) for Procurement Operations that align with Company goals and objectives
• Manage and negotiate favorable business terms agreements to drive lower costs and improve payment & delivery terms that supports financial health and flexibility for the organization
• Develop and manage preferred and other key supplier contracts, acting as liaison between vendors and the Company, ensuring the highest levels of quality and service
• Responsible for the development, documentation, implementation, and maintenance of the company’s P2P policies and procedures
• Develop and oversee a procurement training program for existing and new employees
• Analyze and evaluate vendor performance, identifying areas of improvement, assessing risk and developing mitigation tactics for those risk elements
• Maintain strong cross functional relationships to bolster communication with internal and external stakeholders
• Build a best-in-class Procurement organization; provide leadership and lead training for all direct reports around procurement activities such as sourcing strategies and new capabilities development, performing contract audits and spend analysis, conducting competitive bidding and RFP processes, negotiations of commercial agreements, risk mitigation, whilst improving efficiencies across the function
• Create, analyze, update, and manage Company contract records in the contract management system
• Review contract records for completeness and accuracy
• Manage life cycle of contracts from contract request through expiration/termination/extension
• All other duties as assigned

Experience, Education and Specialized Knowledge and Skills:

• Bachelor's degree in Business Administration, Supply Chain Management, or related field
• Minimum of 15+ years of experience in procurement, strategic sourcing, and supplier management, preferably in the pharmaceutical or biotechnology industry
• Experience in transitioning R&D companies to global commercial enterprises is preferred
• Strong financial background
• Proven track record of leading procurement initiatives, driving cost savings, and optimizing supply chain processes
• Strong negotiation skills with the ability to influence and persuade stakeholders at all levels
• Solid understanding of regulatory requirements, quality standards, and industry best practices in procurement and supply chain management
• Excellent analytical, problem-solving, and decision-making skills
• Effective communication and interpersonal skills, with the ability to collaborate cross-functionally and build strong relationships with internal and external partners
• Proficiency in procurement software and tools (e.g., ERP systems, e-procurement platforms) is desirable
• Ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively

The pay range for this role is $275,000-$295,000 annually. Actual compensation packages are based on several factors that are unique to each candidate, including but not limited to skill set, depth of experience, certifications, and specific work location. This may be different in other locations due to differences in the cost of labor. The total compensation package for this position may also include bonus, stock, benefits and/or other applicable variable compensation.

Summit does not accept referrals from employment businesses and/or employment agencies in respect of the vacancies posted on this site. All employment businesses/agencies are required to contact Summit’s Talent Acquisition team at recruiting@smmttx.com to obtain prior written authorization before referring any candidates to Summit.