Development Veteran Steven J. Knox Joins Assembly Biosciences as Senior Vice President, Clinical Development
April 22 2019 - 4:51PM
Assembly Biosciences, Inc. (NASDAQ: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV) and diseases associated with the
microbiome, today announced that Steven J. Knox has joined the
Company, as Senior Vice President, Clinical Development.
Mr. Knox comes to Assembly from Gilead Sciences where he most
recently served as Vice President, Clinical Research and was
responsible for global development programs in inflammation and
viral hepatitis. In this capacity he oversaw development of the
JAK1 inhibitor filgotinib for the treatment of rheumatic and
inflammatory bowel diseases, led the development and registration
of the Hepatitis C (HCV) therapies sofosbuvir (Sovaldi®) and
sofosbuvir/ledipasvir (Harvoni®) and supported registration of the
HBV therapy tenofovir alafenamide (Vemlidy®)1 throughout Asia
including China and Japan. Mr. Knox brings 30 years of global
product development experience from first in man through
registration for biologics and small molecules. At Assembly, Steve
will be responsible for advancing and expanding the HBV clinical
development program and will work closely with the microbiome
program as more products enter clinical development.
“I am excited to be joining Assembly as its clinical candidates
move into later stage development and new candidates enter the
clinic,” said Mr. Knox. “I’ve spent much of my career advancing
therapies for viral hepatitis and while cures have been achievable
in HCV, they have remained elusive in HBV, despite effective
nucleos(t)ide therapy. I have followed Assembly’s development
programs and believe there is great potential for core inhibitors
to play an important role in bringing HBV to undetectable levels
quickly and inhibiting generation of new cccDNA which may
ultimately help bring about cure for more patients.”
“We are pleased that Steve is joining the Assembly team at this
opportune time,” said Derek Small, President and Chief Executive
Officer. “Steve’s extensive experience in helping bring products
for Hepatitis B and C through the clinic to approval, including in
Asia where HBV infection has a devastating impact, will be very
impactful as we focus on later stage clinical development.”
In conjunction with Mr. Knox’s appointment, Uri Lopatin, MD,
Assembly’s Chief Medical Officer (CMO) and a co-founder, is
transitioning to the role of clinical and scientific advisor, and
there is a search underway for his successor.
Mr. Small continued, “as a leader in the field of HBV and a
co-founder of Assembly, Uri has been instrumental in devising our
early scientific strategies, translating our science from ideas to
clinical programs and ultimately in moving our programs into
clinical trials. We are grateful for Uri’s passion and dedication
to Assembly over the past seven years as he now returns to
entrepreneurial pursuits.”
In connection with Mr. Knox’s appointment, the Company made a
grant on April 22, 2019 of non-qualified stock options to purchase
110,000 shares of the Company’s common stock with an exercise price
of $15.55 per share, the closing price on April 22, 2019 and 15,000
restricted stock units. The equity awards were offered as a
material inducement to Mr. Knox to accept the Company’s offer of
employment. The stock options have a ten-year term and vest over
four years, with one-quarter vesting on the first anniversary of
the date of grant and the remaining three-quarters vesting in equal
monthly installments thereafter. The restricted stock units
vest over four years, with one quarter vesting on each anniversary
of the date of grant. The equity awards are, in all cases,
subject to Mr. Knox’s continued service with Assembly through the
applicable vesting dates and to acceleration upon the occurrence of
certain events as set forth in the award agreements evidencing the
options and the restricted stock units.
The equity awards were granted outside of the Company’s
stockholder-approved equity incentive plans pursuant to Assembly’s
2017 Inducement Award Plan. The stock options were approved by the
compensation committee of the board of directors, which is
comprised solely of independent directors, as a material inducement
to Mr. Knox entering into employment with the Company in accordance
with Nasdaq Listing Rule 5635(c)(4).
About Assembly BiosciencesAssembly
Biosciences, Inc. is a clinical-stage biotechnology company
developing innovative therapeutics targeting hepatitis B virus
(HBV) and diseases associated with the microbiome. The HBV program
is focused on advancing a new class of potent, oral core inhibitors
that have the potential to increase cure rates for chronically
infected patients. The microbiome program is developing novel
oral live synthetic biotherapeutic candidates with Assembly’s fully
integrated platform, including a robust process for strain
identification and selection, GMP banking and production, and
targeted delivery to the lower gastrointestinal tract with the
GEMICEL® technology. For more information,
visit assemblybio.com.
Forward-Looking Statements The information in
this press release contains forward-looking statements regarding
future events, including statements about the clinical and
therapeutic potential of core inhibitors and the clinical
development of our product candidates, Certain forward-looking
statements may be identified by reference to a future period or by
use of forward-looking terminology such as “may,” “will” and
“potential.” Assembly intends such forward-looking statements to be
covered by the safe harbor provisions contained in Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Actual results or
developments may differ materially from those projected or implied
in these forward-looking statements. More information about the
risks and uncertainties faced by Assembly are more fully detailed
under the heading “Risk Factors” in Assembly's Annual Report on
Form 10-K for the year ended December 31, 2018 filed with
the Securities and Exchange Commission. Except as required by
law, Assembly assumes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
1Sovaldi®, Harvoni® and Vemlidy® are registered trademarks of
Gilead Sciences, Inc., or its related companies.
Contacts Assembly Biosciences, Inc. Investors:
Lauren Glaser (415) 521-3828 lglaser@assemblybio.com
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