Coherus BioSciences Appoints Charlie Newton to Board of Directors
May 05 2022 - 8:31AM
Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq:
CHRS) today announced the appointment of former investment banker
and renowned biotech strategist Charlie Newton to its Board of
Directors. Mr. Newton will also serve on the Audit Committee of the
Board of Directors.
“I warmly welcome Charlie to the Coherus Board of Directors.
Charlie is a legendary biotech investment banker and a current
Chief Financial Officer, who for nearly three decades has partnered
with management teams to strategically build shareholder value,”
said Denny Lanfear, CEO of Coherus. “We look forward to working
closely with him as we execute on our transformation to become a
leading immuno-oncology company.
“Coherus is at an inflection point as the Company
executes its strategy to invest cash flows from its commercial
product portfolio into the rapidly growing immuno-oncology market,”
said Mr. Newton. “I have known and worked with the Coherus
management team for almost a decade. I had the great pleasure of
working on Coherus’ initial public offering during my investment
banking career, and I am thrilled to have the opportunity to join
the Coherus team as a board member. I believe there are significant
opportunities for the Company to maximize the potential of its
commercial portfolio, late-stage pipeline and very promising
immuno-oncology strategy.”
Mr. Newton is the Chief Financial Officer of
Lyell Immunopharma, a NASDAQ-listed biotechnology company. Prior to
joining Lyell, he served as Managing Director & Co-Head of
Healthcare Investment Banking in the Americas at BofA Securities,
Managing Director & Co-Head of Healthcare Investment Banking in
the Americas at Credit Suisse, and Managing Director & Head of
Western Region Healthcare Investment Banking at Morgan Stanley. Mr.
Newton advised on approximately $200 billion in mergers and
acquisitions and raised nearly $60 billion in capital during his
investment banking career. Mr. Newton earned his MBA from the Tuck
School at Dartmouth College as well as a B.S. in Finance from Miami
University.
About Coherus BioSciences
Coherus is a commercial stage biopharmaceutical company building
a leading immuno-oncology franchise funded with cash generated by
its diversified portfolio of FDA-approved products. In 2021,
Coherus in-licensed toripalimab, an anti-PD-1 antibody, in the
United States and Canada. Coherus plans to resubmit a BLA
for toripalimab for the treatment of advanced nasopharyngeal
carcinoma by mid-summer 2022. Toripalimab is also being evaluated
in pivotal clinical trials for the treatment of rare and highly
prevalent cancers.
Coherus markets UDENYCA® (pegfilgrastim-cbqv), a biosimilar of
Neulasta® in the United States, and expects to launch the
FDA-approved Humira® biosimilar YUSIMRY™ (adalimumab-aqvh)
in the United States in 2023. The FDA is currently
reviewing the biologics license application for CIMERLI™
(ranibizumab-ranq), a biosimilar of Lucentis®, with a target action
date of August 2022.
Forward-Looking Statements
Except for the historical information contained herein, the
matters set forth in this press release are forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, including,
but not limited to, statements regarding Coherus’ ability to build
its immuno-oncology franchise to achieve a leading market position
and execute on its strategy; Coherus’ ability to generate cash;
Coherus’ investment plans; Coherus’ expectations for the launch
date of YUSIMRY™ and the launch date or action date of other
products; and Coherus’ plans to resubmit a BLA for toripalimab.
Such forward-looking statements involve substantial risks and
uncertainties that could cause Coherus’ actual results, performance
or achievements to differ significantly from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, the risks and uncertainties inherent in the clinical
drug development process; risks relating to the COVID-19 pandemic;
risks related to our existing and potential collaboration partners;
risks of the drug development position of Coherus’ competitors; the
risks and uncertainties of the regulatory approval process,
including the speed of regulatory review, international aspects of
Coherus’ business, the need to schedule inspections
in China and the timing of Coherus’ regulatory filings;
the risk of FDA review issues; the risk of Coherus’ execution of
its change in strategy from a focus on biosimilars to a strategy
using cash from its portfolio to fund an immuno-oncology franchise;
the risk that Coherus is unable to complete commercial transactions
and other matters that could affect the availability or commercial
potential of Coherus’ drug candidates; and the risks and
uncertainties of litigation. All forward-looking statements
contained in this press release speak only as of the date of this
press release. Coherus undertakes no obligation to update or revise
any forward-looking statements. For a further description of the
significant risks and uncertainties that could cause actual results
to differ from those expressed in these forward-looking statements,
as well as risks relating to Coherus’ business in general, see
Coherus’ Quarterly Report on Form 10-Q for the quarter
ended March 31, 2022, filed with the Securities and
Exchange Commission on or about May 5, 2022, including
the section therein captioned “Risk Factors” and in other documents
Coherus files with the Securities and Exchange Commission.
UDENYCA®, YUSIMRY™ and CIMERLI™, whether or not appearing in
large print or with the trademark symbol, are trademarks of
Coherus, its affiliates, related companies or its licensors or
joint venture partners, unless otherwise noted. Trademarks and
trade names of other companies appearing in this press release are,
to the knowledge of Coherus, the property of their respective
owners.
Coherus Contact Information:IR Contact:McDavid StilwellChief
Financial OfficerCoherus BioSciences, Inc.IR@coherus.com
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