Abeona Therapeutics Announces CEO Transition
November 26 2018 - 4:30PM
Abeona Therapeutics Inc. (Nasdaq: ABEO), a leading clinical-stage
biopharmaceutical company focused on developing novel cell and gene
therapies for life-threatening rare genetic diseases, today
announced the immediate termination of its Chief Executive Officer,
Dr. Carsten Thiel due to personal misconduct that violated the
Company’s Code of Business Conduct and Ethics. The Company has
appointed its Head of Research & Development and Chief Medical
Officer, Dr. João Siffert, as Interim Chief Executive
Officer.
Dr. Thiel’s termination follows an investigation by independent
members of the Company’s Board of Directors and external counsel
into allegations of misconduct towards colleagues that the Board
concluded violated the Company’s Code of Business Conduct and
Ethics and was inconsistent with its expectations for Abeona’s
CEO.
Dr. Thiel’s termination is not related to the condition of the
Company’s finances, operations or clinical programs, nor due to any
disagreement with the Company regarding its management of financial
reporting, scientific data or other practices.
“We expect all employees, regardless of title or responsibility,
to conduct themselves ethically and in accordance with company
policies, and are committed to ensuring an environment of respect,
integrity and ethical conduct at Abeona,” said Steven H. Rouhandeh,
Chairman of the Board and Executive Chairman. “The Board is
confident that Abeona is in good hands while we search for a new
CEO as João’s deep expertise in drug development and gene therapy
will ensure that the company continues operating effectively
without interruption.”
Dr. Siffert has successfully led multiple drug development
programs from pre-clinical to regulatory approvals in the U.S. and
Europe, and has held several scientific leadership positions in
biotech and pharma, including programs in gene therapy. In 2017,
Dr. Siffert was appointed to the Board of Directors of gene therapy
developer AveXis, which was subsequently acquired by Novartis. He
served as Chief Medical Officer for Ceregene from 2007 to 2011,
where he was responsible for clinical development of
adeno-associated viral (AAV2)-based gene therapies for Parkinson's
and Alzheimer’s diseases. Dr. Siffert also led the R&D and
medical organizations at Avanir Pharmaceuticals and Avera
Pharmaceuticals before most recently guiding translational
research, clinical development, regulatory, and medical affairs as
Chief Scientific and Medical Officer for Nestle Health Science.
The Board has formed a search committee to identify a permanent
successor, with the assistance of a leading executive search
firm.
About Abeona
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical
company developing cell and gene therapies for life-threatening
rare genetic diseases. Abeona's lead programs include EB-101
(gene-corrected skin grafts) for recessive dystrophic epidermolysis
bullosa (RDEB), ABO-102 (AAV-SGSH), an adeno-associated virus (AAV)
based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and
ABO-101 (AAV-NAGLU), an adeno-associated virus (AAV) based gene
therapy for Sanfilippo syndrome type B (MPS IIIB). Abeona is also
developing ABO-201 (AAV-CLN3) gene therapy for CLN3 disease,
ABO-202 (AAV-CLN1) for treatment of CLN1 disease, EB-201 for
epidermolysis bullosa (EB), ABO-301 (AAV-FANCC) for Fanconi anemia
(FA) disorder and ABO-302 using a novel CRISPR/Cas9-based gene
editing approach to gene therapy for rare blood diseases. In
addition, Abeona is developing a proprietary vector platform, AIM™,
for next generation product candidates. For more information, visit
www.abeonatherapeutics.com.
Abeona Forward-Looking Statements
This press release contains certain statements that are
forward-looking within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, and that involve risks and
uncertainties. These statements include statements about the
ability of its Interim Chief Executive Officer and the management
team to lead the Company and deliver on key strategies, the market
opportunities for the Company’s products and product candidates,
and the Company’s goals and objectives. We have
attempted to identify forward looking statements by such
terminology as “may,” “will,” “anticipate,” “believe,” “estimate,”
“expect,” “intend,” and similar expressions (as well as other words
or expressions referencing future events, conditions or
circumstances), which constitute and are intended to identify
forward-looking statements. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, numerous risks and
uncertainties, including but not limited to continued interest in
our rare disease portfolio, our ability to enroll patients in
clinical trials, the impact of competition, the ability to secure
licenses for any technology that may be necessary to commercialize
our products, the ability to achieve or obtain necessary regulatory
approvals, the impact of changes in the financial markets and
global economic conditions, risks associated with data analysis and
reporting, and other risks as may be detailed from time to time in
the Company’s Annual Reports on Form 10-K and quarterly reports on
Form 10-Q and other reports filed by the Company with the
Securities and Exchange Commission. The Company undertakes no
obligation to revise the forward-looking statements or to update
them to reflect events or circumstances occurring after the date of
this presentation, whether as a result of new information, future
developments or otherwise, except as required by the federal
securities laws.
Investor Contact:
Christine SilversteinSVP, Finance & Investor RelationsAbeona
Therapeutics Inc.+1 (646)
813-4707csilverstein@abeonatherapeutics.com
Media Contact:
Scott SantiamoDirector, Corporate CommunicationsAbeona
Therapeutics Inc.+1 (718)
344-5843ssantiamo@abeonatherapeutics.com
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