Gaston Picchio, PhD, Chief Development Officer, to Depart Arbutus at Year End
September 30 2022 - 9:00AM
Arbutus Biopharma Corporation (Nasdaq: ABUS), a clinical-stage
biopharmaceutical company leveraging its extensive virology
expertise to develop novel therapeutics that target specific viral
diseases, today announced that Gaston Picchio, PhD, Chief
Development Officer, will be leaving the Company for personal
reasons. Dr. Picchio will continue to serve as CDO until his
departure on December 31, 2022. The Company has initiated a search
for Dr. Picchio’s replacement.
“On behalf of our entire team, I would like to
thank Gaston for his many contributions in growing Arbutus to where
it is today,” said William Collier, Chief Executive Officer and
President of Arbutus. “Gaston has led a talented group of
professionals responsible for advancing the Company’s clinical
pipeline with the goal of potentially developing a functional cure
for patients with chronic hepatitis B virus. These efforts, along
with those to advance our preclinical assets both in HBV and
coronavirus into the clinic, will continue to proceed as planned
through the leadership transition.”
Dr. Gaston Picchio, Chief Development Officer of
Arbutus, commented, “My time with Arbutus has been extremely
rewarding and I am proud of the many accomplishments and commitment
of this team. Since joining the Company four years ago, we have
advanced the Company’s lead RNAi therapeutic, AB-729 and two oral
capsid inhibitors, into multiple stand-alone or partnered
combination clinical trials. The trials involving AB-729 have shed
important insight into the potential of this compound as a
cornerstone for curative regimens based on its convenient dosing
schedule, surface antigen and DNA suppression, immune reawakening
and safety profile. I believe the Company will continue to play a
critical role in developing a functional cure for HBV. I look
forward to watching these programs progress and want to thank
everyone at Arbutus for their support during my tenure at the
Company.”
About
ArbutusArbutus Biopharma Corporation (Nasdaq: ABUS)
is a clinical-stage biopharmaceutical company leveraging its
extensive virology expertise to develop novel therapeutics that
target specific viral diseases. Our current focus areas include
Hepatitis B virus (HBV), SARS-CoV-2, and other coronaviruses. In
HBV, we are developing a RNAi therapeutic, an oral capsid
inhibitor, an oral PD-L1 inhibitor, and an oral RNA destabilizer to
potentially identify a combination regimen with the aim of
providing a functional cure for patients with chronic HBV by
suppressing viral replication, reducing surface antigen and
reawakening the immune system. We believe our lead compound,
AB-729, is the only RNAi therapeutic with evidence of immune
re-awakening. It is currently being evaluated in multiple phase 2
clinical trials. We also have an ongoing drug discovery and
development program directed to identifying novel, orally active
agents for treating coronavirus (including SARS-CoV-2). In
addition, we are exploring oncology applications for our internal
PD-L1 portfolio. For more information,
visit www.arbutusbio.com.
Forward-Looking Statements and
InformationThis press release contains forward-looking
statements within the meaning of the Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
and forward-looking information within the meaning of Canadian
securities laws (collectively, forward-looking statements).
Forward-looking statements in this press release include statements
about our future development plans for our product candidates; the
expected cost, timing and results of our clinical development plans
and clinical trials with respect to our product candidates; our
expectations with respect to the release of data from our clinical
trials and the expected timing thereof; our expectations and goals
for our collaborations with third parties and any potential
benefits related thereto; the potential for our product candidates
to achieve success in clinical trials.
With respect to the forward-looking statements
contained in this press release, Arbutus has made numerous
assumptions regarding, among other things: the effectiveness and
timeliness of preclinical studies and clinical trials, and the
usefulness of the data; the timeliness of regulatory approvals; the
continued demand for Arbutus’ assets; and the stability of economic
and market conditions. While Arbutus considers these assumptions to
be reasonable, these assumptions are inherently subject to
significant business, economic, competitive, market and social
uncertainties and contingencies, including uncertainties and
contingencies related to the ongoing COVID-19 pandemic and patent
litigation matters.
Additionally, there are known and unknown risk
factors which could cause Arbutus’ actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements contained herein. Known risk factors
include, among others: anticipated pre-clinical studies and
clinical trials may be more costly or take longer to complete than
anticipated, and may never be initiated or completed, or may not
generate results that warrant future development of the tested
product candidate; Arbutus may elect to change its strategy
regarding its product candidates and clinical development
activities; Arbutus may not receive the necessary regulatory
approvals for the clinical development of Arbutus’ products;
economic and market conditions may worsen; uncertainties associated
with litigation generally and patent litigation specifically;
Arbutus and its collaborators may never realize the expected
benefits of the collaborations; market shifts may require a change
in strategic focus; and the ongoing COVID-19 pandemic could
significantly disrupt Arbutus’ clinical development programs.
A more complete discussion of the risks and
uncertainties facing Arbutus appears in Arbutus’ Annual Report on
Form 10-K, Arbutus’ Quarterly Reports on Form 10-Q and Arbutus’
continuous and periodic disclosure filings, which are available at
www.sedar.com and at www.sec.gov. All forward-looking statements
herein are qualified in their entirety by this cautionary
statement, and Arbutus disclaims any obligation to revise or update
any such forward-looking statements or to publicly announce the
result of any revisions to any of the forward-looking statements
contained herein to reflect future results, events or developments,
except as required by law.
Contact Information
Investors and Media
William H. CollierPresident and CEO Phone:
267-469-0914Email: ir@arbutusbio.com
Lisa M. CaperelliVice President, Investor
RelationsPhone: 215-206-1822Email: lcaperelli@arbutusbio.com
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