AVEO Announces Appointment of Matthew Dallas as Chief Financial Officer
May 16 2017 - 7:00AM
Business Wire
AVEO Oncology (NASDAQ: AVEO) today announced the appointment of
Matthew Dallas as chief financial officer, effective June 1, 2017.
In this role, Mr. Dallas will be responsible for the Company’s
financial strategy and management as it takes steps toward the
potential commercialization of tivozanib. Mr. Dallas will also
serve on the executive leadership team which governs corporate
strategy at AVEO. He succeeds Keith Ehrlich, the Company’s current
chief financial officer, whose retirement from the Company was
previously announced.
Mr. Dallas brings to AVEO more than 20 years of financial
management experience, including 18 years in the life sciences
industry. Most recently, he served as Chief Financial Officer and
Treasurer of CoLucid Pharmaceuticals, a position he held through
that biopharmaceutical company’s initial public offering, follow-on
offering, and subsequent acquisition, for approximately $960
million, by Eli Lilly and Company in March 2017. Prior to CoLucid,
Mr. Dallas served as Vice President of Finance and Treasurer at
AVEO from 2011 to 2015, a period during which the Company was first
preparing for the potential launch of tivozanib. He previously
worked at Genzyme Corporation, NEN Life Sciences, and
Kimberly-Clark Corporation where he held various positions of
increasing responsibility in finance and accounting. Mr. Dallas
holds a B.S. in Finance from the University of Tennessee,
Knoxville.
“It is a pleasure to welcome Matt back to the AVEO team,
following a successful tenure as chief financial officer at
CoLucid,” said Michael Bailey, president and chief executive
officer of AVEO. “I look forward to Matt’s insights and expertise
as AVEO advances our plans for tivozanib and the other programs in
our pipeline. I would also like to thank Keith for his
contributions and service to the Company, and for supporting Matt
through this initial transition period."
“AVEO is at an important juncture in its development under
Michael’s leadership, with clinical and registrational strategies
for tivozanib being pursued in both the U.S. and E.U., and a
dynamic pipeline providing the potential for added strategic and
financial flexibility,” said Mr. Dallas. “I look forward to
contributing to AVEO’s progress in advancing its portfolio of
therapeutics targeting important unmet needs in cancer and other
serious diseases.”
About AVEO
AVEO Oncology (AVEO) is a biopharmaceutical company dedicated to
advancing a broad portfolio of targeted therapeutics for oncology
and other areas of unmet medical need. The Company is focused on
seeking to develop and commercialize its lead candidate tivozanib,
a potent, selective, long half-life inhibitor of vascular
endothelial growth factor 1, 2 and 3 receptors, in North America as
a treatment for renal cell carcinoma and other cancers. AVEO is
leveraging multiple partnerships aimed at developing and
commercializing tivozanib in oncology indications outside of North
America, and at progressing its pipeline of novel therapeutic
candidates in cancer and cachexia (wasting syndrome). For more
information, please visit the company’s website at
www.aveooncology.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of AVEO
that involve substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. The words “anticipate,”
“believe,” “expect,” “intend,” “may,” “plan,” “potential,” “could,”
“should,” “would,” “seek,” “look forward,” “advance,” “goal,”
“strategy,” or the negative of these terms or other similar
expressions, are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements include, among
others, statements about AVEO’s and its collaborators’ future
discovery, development, regulatory and commercialization plans and
efforts, including without limitation with respect to tivozanib and
AVEO’s other programs and platforms; AVEO’s strategy, prospects,
plans and objectives; and the Company’s financial and strategic
flexibility. AVEO has based its expectations and estimates on
assumptions that may prove to be incorrect. As a result, readers
are cautioned not to place undue reliance on these expectations and
estimates. Actual results or events could differ materially from
the plans, intentions and expectations disclosed in the
forward-looking statements that AVEO makes due to a number of
important factors, including risks relating to AVEO’s ability to
enter into and maintain its third party collaboration agreements,
and its ability, and the ability of its licensees and other
partners, to achieve development and commercialization objectives
under these arrangements; AVEO’s ability, and the ability of its
licensees, to demonstrate to the satisfaction of applicable
regulatory agencies the safety, efficacy and clinically meaningful
benefit of AVEO’s product candidates; AVEO’s ability to
successfully enroll and complete clinical trials, including the
TIVO-3 and TiNivo studies; AVEO’s ability to achieve and maintain
compliance with all regulatory requirements applicable to its
product candidates; AVEO’s ability to obtain and maintain adequate
protection for intellectual property rights relating to its product
candidates and technologies; developments, expenses and outcomes
related to AVEO’s ongoing shareholder litigation; AVEO’s ability to
successfully implement its strategic plans; AVEO’s ability to raise
the substantial additional funds required to achieve its goals,
including those goals pertaining to the development and
commercialization of tivozanib; unplanned capital requirements;
adverse general economic and industry conditions; competitive
factors; and those risks discussed in the section titled “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations—Liquidity and Capital
Resources” included in AVEO’s Annual Report on Form 10-K for the
year ended December 31, 2016, its quarterly reports on Form 10-Q
and in other filings that AVEO may make with the SEC in the future.
The forward-looking statements in this press release represent
AVEO’s views as of the date of this press release. AVEO anticipates
that subsequent events and developments may cause its views to
change. While AVEO may elect to update these forward-looking
statements at some point in the future, it specifically disclaims
any obligation to do so. You should, therefore, not rely on these
forward-looking statements as representing AVEO's views as of any
date other than the date of this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170516005428/en/
AVEO Contact:Argot PartnersDavid Pitts, (212)
600-1902aveo@argotpartners.com
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