Alan Barge, MD,
Oncology and Biopharmaceutical Drug Development Expert, Former Head
of Oncology at AstraZeneca, Recently Joined All Blue as Oncology
Drug Development Advisor
Barge's Expertise and Focused Leadership to
Foster Turnaround of Zymeworks' Operating
Performance
DUBAI,
United Arab Emirates, May 3, 2022
/PRNewswire/ -- All Blue Capital ("AB"), a global investment
firm, today announced that biopharmaceutical industry leader and
expert, Alan Barge, MD, has agreed
to advise the firm as Oncology Drug Development Advisor. In this
capacity, Dr. Barge is prepared to provide the expertise, focused
leadership and business acumen necessary to support AB's recent
proposal to acquire Zymeworks, Inc. (NYSE: ZYME), a clinical-stage
biotechnology company, with the goal of reversing the
value-destructive measures that Zymeworks and its board of
directors implemented over the past 12 months. Following a
successful completion of the transaction, Dr. Barge would serve on
Zymeworks' board, adding additional value to AB's current
offer.
"Alan's exceptional breadth and depth of expertise in oncology,
drug development and commercialization has greatly expanded All
Blue's capabilities in the biopharmaceutical industry," said
Matt Novak, Managing Partner, All
Blue Capital. "Alan has already made invaluable contributions
during the short time he has been in consultation with the All Blue
team, and I have the utmost confidence that he can deliver value to
Zymeworks."
"All Blue Capital is a dynamic team, and has put together a
world class scientific team with expertise in oncology and drug
manufacturing, who are committed to the growth and development of
the biopharmaceutical industry, and I am appreciative of the
opportunity to become part of the firm. I have worked closely with
the team in developing a business plan for Zymeworks that can
create superior value. I look forward to contributing my expertise
to help put Zymeworks back on track," said Dr. Barge.
Dr. Barge has unmatched expertise in oncology and
biopharmaceutical drug development and commercialization. He joined
AB after founding Carrick Therapeutics in the UK, which focused on
early-stage oncology assets, and co-founding ASLAN Pharmaceuticals,
a Singapore-based
biopharmaceutical company that focuses on Asia-related cancers. Earlier in his career,
Dr. Barge served as Vice President of Clinical and Head of Oncology
and Infection at AstraZeneca, where he was responsible for building
and managing a large development group and executing AstraZeneca's
oncology portfolio globally. He also served as European Medical
Director at Amgen. Dr. Barge trained in medicine at Oxford and London, and specialized in hematology and
oncology, completing research and clinical fellowships in
Seattle in 1990.
On April 28, AB submitted a
proposal to acquire 100% of the outstanding common shares of
Zymeworks for $10.50 per share in
cash, representing approximately $773
million in total equity value. AB is confident that the
all-cash proposal represents compelling and immediate value for
Zymeworks stakeholders at a time of considerable macroeconomic
uncertainty, especially given the company's significant and
continued underperformance. All Blue looks forward to the
opportunity to discuss its proposal with the Zymeworks board, which
it hopes will engage in good faith and in a timely fashion.
About All Blue
AB is a global investment firm that manages multiple alternative
asset classes, including private equity, real estate, blockchain
and hedge funds. Leveraging the strength of the team's global
presence and through its strategic network of partners, AB is able
to take advantage of differentiated investment opportunities across
asset classes, industries and geographies. AB's focus on its core
values of entrepreneurialism, innovation, and institutionalization
has led to a history of delivering excellent risk-adjusted
returns.
Media Contact
Jeremy Fielding / Richard
Goldman
Kekst CNC
(646) 644-4825 / (646) 847-6102
ABMedia@kekstcnc.com
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SOURCE All Blue Capital