Abivax Announces the Appointment of June Lee, M.D. and Troy Ignelzi as Members of the Board of Directors
PARIS, FRANCE / ACCESSWIRE / July 11, 2023 / Abivax SA (Euronext Paris: FR0012333284 - ABVX), a Phase 3 clinical-stage biotechnology company focused on developing therapeutics that modulate the immune system to treat patients with chronic inflammatory diseases, announces today the appointment of June Lee, M.D. and Troy Ignelzi as new independent members of the Abivax Board of Directors. June Lee and Troy Ignelzi replace Joy Amundson and Jean-Jacques Bertrand, who have resigned from their positions as members of the Board of Directors.
Marc de Garidel, CEO of Abivax, said: "I am glad to welcome June Lee and Troy Ignelzi as new Abivax Board members. As we advance our Phase 3 program with obefazimod in ulcerative colitis, their extensive expertise in late-stage development, product commercialization and financing will be precious for the company to successfully execute on our strategic priorities. On behalf of the entire team, I would also like to warmly thank Joy Amundson and Jean-Jacques Bertrand for their longstanding commitment and contribution. We are now very much looking forward to continuing our work with June and Troy and to benefit from their vast experience in the biopharma industry."
June Lee, M.D., new member of the Abivax Board and Chair of the Recruitment and Remuneration Committee, added: "I am excited to join the Abivax Board and I am impressed by the accomplishments and the clinical results generated so far with obefazimod. Together with the team, we will continue our efforts to further advance this promising drug candidate towards the market for the benefit of all the patients suffering from inflammatory conditions."
Troy Ignelzi, new member of the Abivax Board and Chair of the Audit Committee, commented: "I look forward to working alongside my fellow Board members and the talented Abivax team as we continue to build a compelling company story going forward. I am eager to leverage my knowledge and experience to help enable Abivax to successfully realize its full potential in the discovery, development and commercialization of novel and long-term efficient treatments against chronic inflammatory diseases."
In the frame of the new appointments, the composition of the Board's committees has been reviewed. The Audit Committee is comprised of three members: Troy Ignelzi (Chair), Corinna zur Bonsen-Thomas and Sofinnova Partners (represented by Kinam Hong). The Recruitment and Remuneration Committee is comprised of four members: June Lee (Chair), Corinna zur Bonsen-Thomas, Truffle Capital (represented by Philippe Pouletty) and Sofinnova Partners (represented by Kinam Hong).
About June Lee, M.D.
June H. Lee, M.D. FACCP, is currently a Venture Partner at 5AM Ventures. Dr. Lee is a physician-scientist with over 20 years in the biotechnology and pharmaceutical industry. Most recently, she was a Founder and CEO of Esker Therapeutics. She previously served as Executive Vice President, Chief Development Officer and Chief Operating Officer of MyoKardia where she built and led a world-class development organization that was acquired by Bristol Myers Squibb for USD 13.1 billion in November 2020. The lead program at MyoKardia, mavacamten, was recently approved by the FDA for use in obstructive hypertrophic cardiomyopathy patients as the first precision therapy in this indication. Prior to MyoKardia, Dr. Lee was a Professor of Medicine at the University of California, San Francisco (UCSF) School of Medicine, where she served as Director of Translational Research and built the Catalyst Program, an internal accelerator for early-stage technologies. As the therapeutic area head at Genentech, Dr. Lee led early clinical development programs in cardiovascular and metabolic diseases, infectious diseases, and respiratory diseases. Dr. Lee serves on numerous boards in the healthcare industry including the Board of Directors for Tenaya Therapeutics, Eledon Pharmaceuticals Inc. and GenEdit, and is a member of the Scientific Advisory Board for Foresite Labs. Dr. Lee has also served on the Advisory Board for Johns Hopkins University Center for Therapeutic Translation, and on the Board of Directors for CinCor Therapeutics, which was acquired by AstraZeneca for up to USD 1.8 billion in the first quarter of 2023. Dr. Lee received her undergraduate degree in chemistry at the Johns Hopkins University, earned her medical degree at the School of Medicine at University of California, Davis, and completed her clinical training in internal medicine and pulmonary and critical care at the University of California, Los Angeles (UCLA) and University of California, San Francisco (UCSF). Dr. Lee is based in the San Francisco, CA office.
About Troy Ignelzi
Troy Ignelzi has extensive experience leading emerging and rapidly growing biopharmaceutical company finance and operations, including raising capital and building high-performing teams. He currently serves as the CFO of Karuna Therapeutics, where he is responsible for finance, including business support planning for the company's R&D and commercial preparation. In this role, Mr. Ignelzi has led Karuna's private and public financings, including multiple securities offerings, and developed the financial and operational business support infrastructure required for a public company. Before joining Karuna, Mr. Ignelzi was similarly successful at two other emerging biopharmaceutical companies, Esperion Therapeutics and scPharmaceuticals, where he led multiple private and public financings and developed the financial infrastructure and development strategies to support a public company and ensure long-term financial health. Earlier in his career, Mr. Ignelzi served in a variety of positions, including finance, business development and strategic planning, at Pharmalex, scPharmaceuticals, and Insys Therapeutics, as well as sales at Eli Lilly & Co. Mr. Ignelzi currently serves as the Chairman of the Board of Vedanta Biosciences and previously served as a member of the Board of Directors of CinCor Pharma (acquired by AstraZeneca). He earned his B.S. in Accounting at Ferris State University in Big Rapids, Michigan, U.S.
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About Abivax (www.abivax.com)
Abivax is a Phase 3 clinical stage biotechnology company, focused on developing therapeutics that modulate the immune system to treat patients with chronic inflammatory diseases. Abivax, founded by Truffle Capital, is listed on Euronext compartment B (ISIN: FR0012333284 - Mnémo: ABVX). Based in Paris and Montpellier, Abivax's lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of ulcerative colitis. More information on the Company is available at www.abivax.com . Follow us on Twitter @ABIVAX_.
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DISCLAIMER
This press release contains forward-looking statements, forecasts and estimates with respect to certain of the company's programs. Although Abivax' management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the company with the French Autorité des Marchés Financiers pursuant to its legal obligations including its registration document (Document d'Enregistrement Universel). These risks, contingencies and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development including further assessment by the company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement. This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell, or the solicitation of an offer to purchase or subscribe securities of the company in any jurisdiction, in particular in France. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
SOURCE: ABIVAX
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