Aravive Announces Board Member Transition to Advisory Role
December 31 2020 - 7:00PM
Aravive, Inc. (Nasdaq: ARAV), a clinical-stage oncology
company developing transformative therapeutics, today
announced that Dr. Ray Tabibiazar will be stepping down from the
Aravive Board of Directors but will remain an advisor to the
company, effective December 31, 2020. This transition will allow
Dr. Tabibiazar to focus on a new venture.
Dr. Tabibiazar co-founded private Aravive Biologics and served
as the Chairman of its board of directors and as President and
Chief Executive Officer from its inception to April 2017 and as
Executive Chairman from May 2017 until October 2018. During that
time, he led Aravive Biologics through a reverse merger with
Versartis, Inc., to form the combined company, Aravive, Inc. Dr.
Tabibiazar remained on the Board of Aravive, Inc. since October
2018.
"On behalf of my fellow directors, the company's management
team, and shareholders, I'd like to thank Ray for the significant
contributions he made to the company as co-founder, CEO, and most
recently during his service on Aravive’s Board," said Fred
Eshelman, Pharm.D., Chairman of the Board of Directors. "Ray’s
dedication to ensure AVB-500 reaches patients quickly has helped
advance our lead program and we wish him the best in his future
endeavors."
Dr. Tabibiazar commented, “Aravive’s AVB-500 is a very promising
biologic drug with tremendous potential to become a mainstay
treatment in several cancers including ovarian and renal, readily
combinable with any standard of care therapy given its
differentiated mechanism of action and exquisite safety profile.
Aravive is in a great position as it advances AVB-500 through the
planned registrational study and is tested in additional
indications.”
About AraviveAravive, Inc. is a
clinical-stage oncology company developing transformative
therapeutics designed to halt the progression of life-threatening
diseases. Aravive’s lead therapeutic, AVB-500, is an ultra-high
affinity decoy protein that targets the GAS6-AXL signaling pathway
associated with tumor cell growth. Aravive recently successfully
completed a Phase 1b trial of AVB-500 in platinum resistant ovarian
cancer and selected 15 mg/kg as the dose for the Phase 3 trial.
While the Phase 1b trial of AVB-500 in platinum resistant ovarian
cancer was a safety trial and not powered to demonstrate efficacy,
all 5 patients in the 15 mg/kg cohort experienced clinical benefit,
with 1 complete response, 2 partial responses, and 2 stable
disease. The Company has initiated and is recruiting for its Phase
1b/2 trial in patients with clear cell renal cell carcinoma. For
more information, please visit www.aravive.com.
Forward-Looking StatementsThis communication
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In some cases,
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates," and similar
expressions and includes statements regarding plans to evaluate
AVB-500 in a Phase 1b/ 2 trial in patients with clear cell renal
cell carcinoma Forward-looking statements are based on current
beliefs and assumptions, are not guarantees of future performance
and are subject to risks and uncertainties that could cause actual
results to differ materially from those contained in any
forward-looking statement as a result of various factors,
including, but not limited to, risks and uncertainties related to:
our ability to initiate a Phase 1b/Phase 2 trial of AVB-500 in
clear cell renal cell carcinoma as planned, the impact of COVID-19
on the Company's clinical strategy, clinical trials, supply chain
and fundraising, the Company's ability to expand development into
additional oncology indications, the Company's dependence upon
AVB-500, AVB-500's ability to have favorable results in clinical
trials and ISTs, the clinical trials of AVB-500 having results that
are as favorable as those of preclinical and clinical trials, the
ability to receive regulatory approval, potential delays in the
Company's clinical trials due to regulatory requirements or
difficulty identifying qualified investigators or enrolling
patients especially in light of the COVID-19 pandemic; the risk
that AVB-500 may cause serious side effects or have properties that
delay or prevent regulatory approval or limit its commercial
potential; the risk that the Company may encounter difficulties in
manufacturing AVB-500; if AVB-500 is approved, risks associated
with its market acceptance, including pricing and reimbursement;
potential difficulties enforcing the Company's intellectual
property rights; the Company's reliance on its licensor of
intellectual property and financing needs. The foregoing review of
important factors that could cause actual events to differ from
expectations should not be construed as exhaustive and should be
read in conjunction with statements that are included herein and
elsewhere, including the risk factors included in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31,
2019, recent Current Reports on Form 8-K and subsequent filings
with the SEC. Except as required by applicable law, the Company
undertakes no obligation to revise or update any forward-looking
statement, or to make any other forward-looking statements, whether
as a result of new information, future events or otherwise.
Contacts:Media:Sheryl Seapy, W2O
Groupsseapy@w2ogroup.com
Investors:Luke Heagle, W2O Grouplheagle@w2ogroup.com
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