AVEO Announces Appointment of John H. Johnson to Board of Directors
February 01 2018 - 4:05PM
Business Wire
AVEO Oncology (NASDAQ: AVEO) today announced the appointment of
John H. Johnson to the Company’s Board of Directors. Mr. Johnson
brings to AVEO over three decades of experience in the
biotechnology and pharmaceuticals industries, having held
commercial and executive management roles at leading global
corporations that have a focus on oncology, including Johnson &
Johnson, Eli Lilly & Company, ImClone Systems, Dendreon and
Pfizer.
“It is a pleasure to welcome John as a member of our Board of
Directors,” said Michael Bailey, president and chief executive
officer of AVEO. “His deep experience at numerous leading
oncology-focused companies will be invaluable in our effort to
unlock the full potential of our lead program, tivozanib, along
with our other product candidates. In the near term, we look
forward to several key milestones, including top-line results from
the TIVO-3 trial of tivozanib in third-line refractory renal cell
carcinoma and data from the Phase 2 portion of the TiNivo
combination trial of tivozanib with nivolumab.”
“Under Michael’s leadership, AVEO has moved effectively through
the first stages of a turnaround, and I believe is today well
positioned to capitalize on a multifaceted strategy for tivozanib
and the balance of its pipeline,” said Mr. Johnson. “I am delighted
to be joining the Board at such an exciting time for the Company,
and look forward to offering my insights as AVEO continues to work
towards creating long-term shareholder value through the potential
commercialization of tivozanib in the U.S. and the advancement of
its robust pipeline.”
Mr. Johnson currently serves on the boards of Melinta
Therapeutics, Inc., Portola Pharmaceuticals, Inc. and Histogenics
Corporation, and he is chairman of Strongbridge Biopharma plc. Mr.
Johnson is expected to serve as lead independent director at
Sucampo Pharmaceuticals, Inc. through the closing of its
acquisition by Mallinckrodt plc, as announced December 26, 2017. He
previously served as chairman of Tranzyme Pharma, Inc. and on the
board of BioNJ. Mr. Johnson also previously served as chairman,
president and chief executive officer of Dendreon Corporation and
as chief executive officer and on the board of Savient
Pharmaceuticals, Inc. Prior to these roles, he served as president
of Eli Lilly & Company's Global Oncology Unit following the
company's 2008 acquisition of ImClone Systems Incorporated, where
he served as chief executive officer and on ImClone’s board. Prior
to ImClone, Mr. Johnson served as the company group chairman of
biopharmaceuticals within Johnson & Johnson, where he was
responsible for the Johnson & Johnson Biotechnology, Immunology
and Oncology commercial businesses. Prior to that role, he held
several executive positions at Johnson & Johnson, Parkstone
Medical Information Systems, Inc., Ortho-McNeil Pharmaceutical
Corporation and Pfizer Inc.
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). Tivozanib
(FOTIVDA®) is approved by the European Commission for the treatment
of adult patients with advanced renal cell carcinoma (RCC) in the
European Union plus Norway and Iceland. 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: the expected timeline for reporting data
from TIVO-3 and TiNivo; and AVEO’s strategy, prospects, plans and
objectives, including as they pertain specifically to tivozanib.
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, including tivozanib. AVEO faces other risks
relating to its business as well, including risks relating to its
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/20180201006348/en/
AVEO:Argot PartnersDavid Pitts,
212-600-1902aveo@argotpartners.com
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