AVEO Oncology (Nasdaq: AVEO) today announced the appointment of Mike Ferraresso as Commercial Director. Mr Ferraresso will be responsible for managing AVEO’s commercial strategy and operations, including the commercialization of FOTIVDA® (tivozanib). FOTIVDA is AVEO’s differentiated oral, one-day, vascular endothelial growth factor receptor (VEGFR) tyrosine kinase inhibitor (TKI) approved in the US for the treatment of adult patients with relapse or refractory advanced renal cell carcinoma or multiple RCC. prior systemic therapies.
“Right on the heels of FOTIVDA’s approval, it’s a pleasure to announce Mike’s appointment as Commercial Director,” said Michael Bailey, President and CEO of AVEO. “Mike’s hard work and dedication has played a crucial role in preparing for our evolution into a commercial organization. I look forward to working with Mike in his new role as we continue to carry out our mission to to improve the lives of patients with cancer. “
“It is an honor to take on this new role at such an exciting time for the company,” he said. Ferraresso said. “I look forward to continuing to contribute to our evolution into a commercial organization.”
Mr Ferraresso, who joined AVEO in December 2017, was recently Senior Vice President, Industry Analysis and Commercial Operations. He has more than 20 years of commercial pharmaceutical and biotechnological experience, including 15 years of development and commercialization of oncology products. In addition to developing the company’s commercial strategy and infrastructure, Mr. Ferraresso at AVEO played a key role in business development activities, including the clinical collaboration with the company’s immuno-oncology and the modification of more than $ 400 million with Kyowa Kirin for non-oncology rights. to tivozanib in AVEO’s territories. Prior to joining AVEO, he held a role in sales and commercial operations and increased responsibilities at several biotechnology and pharmaceutical companies, including Verastem, Infinity Pharmaceuticals, AMAG Pharmaceuticals, Critical Therapeutics, Praecis Pharmaceuticals, Ascent Pediatrics, and Muro Pharmaceuticals. Mr Ferraresso has extensive experience in commercial strategy, including partnerships, development, pricing and field deployment models, and has introduced Oprapred ™, Plenaxis ™, Zyflo ™ and Feraheme.. Mr Ferraresso holds a BA in Economics from Assumption College.
About FOTIVDA® (tivozanib)
PHOTO® (tivozanib) is an oral, next-generation vascular endothelial growth factor receptor (VEGFR) tyrosine kinase inhibitor (TKI). It is a potent, selective inhibitor of VEGFRs 1, 2 and 3 with a long half-life designed to improve efficiency and tolerance. AVEO received approval from the US Food and Drug Administration (FDA) for FOTIVDA on March 10, 2021 for the treatment of adult patients with relapsed or refractory advanced renal carcinoma (RCC) after two or more previous systemic therapies. FOTIVDA was approved in August 2017 in the European Union and other countries on the territory of its partner EUSA Pharma (UK) Limited for the treatment of adult patients with advanced RCC. FOTIVDA has been shown to significantly reduce T-cell regulatory production in preclinical models1. FOTIVDA was discovered by Kyowa Kirin.
More about AVEO Pharmaceuticals, Inc.
AVEO is an oncology-oriented biopharmaceutical company committed to delivering drugs that provide a better life for cancer patients. AVEO’s strategy is to focus its resources on the development and commercialization of its product candidates in North America, while partnerships are used to support development and commercialization in other geographic areas. AVEO’s main candidate, FOTIVDA® (tivozanib), has been approved by the US Food and Drug Administration (FDA) on March 10, 2021 for the treatment of adult patients with recurrent or refractory renal carcinoma (RCC) following two or more previous systemic therapies. PHOTO® was approved in August 2017 in the European Union and other countries in the EUSA area for the treatment of adult patients with advanced RCC. AVEO has previously reported promising early clinical data on ficlatuzumab (anti-HGF IgG1 mAb) in head and neck cancer, pancreatic cancer and acute myeloid leukemia and is conducting a randomized phase 2 confirmatory clinical trial of ficlatuzumab for the potential treatment of head and neck cancer. . AVEO’s product candidate pipeline also contains AV-380 (anti-GDF15 IgG1 mAb). AVEO previously reported the acceptance of its exploratory new drug administration in the US for AV-380 and the launch of a Phase 1 clinical trial for the possible treatment of cancer coagulation. AVEO’s earlier pipeline contains monoclonal antibodies in oncological development, including AV-203 (anti-ErbB3 mAb) and AV-353 (anti-Notch 3 mAb). AVEO is committed to creating an environment of diversity and inclusion.
Warning regarding forward-looking statements
This press release contains forward – looking statements from AVEO within the meaning of the Private Securities Reform Act 1995, which poses significant risks and uncertainties. All statements, except statements of historical facts, contained in this press release are forward-looking statements. The words “anticipate,” “believe,” “expect,” “hope,” “intend,” “power,” “plan,” “potential,” “could,” “should,” “would,” “seek, “” look ahead “,” forward “,” goal “,” strategy “, or the negatives 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 statements about: AVEO’s planned timing for making FOTIVDA available to patients in the US; the potential for FOTIVDA as a treatment option for patients with relapse / refractory or advanced RCC; the potential efficacy, safety and tolerability of FOTIVDA, both as a stand-alone drug candidate and in combination with immunotherapy; AVEO’s implementation of its clinical and regulatory strategy for FOTIVDA; AVEO’s plans and strategies for current and future clinical trials on FOTIVDA, ficlatuzumab and AV-380 and for commercialization of FOTIVDA in the United States; the promotion of AVEO pipeline, including the promotion of ficlatuzumab in multiple clinical trials; the potential efficacy, safety and tolerability of ficlatuzumab, both as a stand-alone drug candidate and in combination with other therapies; the potential outcomes of ficlatuzumab studies to provide AVEO with opportunities to pursue regulatory strategies; the potential clinical utility of ficlatuzumab in areas of unmet need; and AVEO’s strategy, prospects, plans and objectives for its product candidates and for the company at large. AVEO has based its expectations and estimates on assumptions that may prove wrong. As a result, readers are warned not to rely unnecessarily on these expectations and estimates. Actual results or events may differ materially from the plans, intentions and expectations set forth in the prospective statements made by AVEO due to a number of key factors, including risks associated with: AVEO’s ability to successfully implement its strategic plans , including the ability to successfully commercialize FOTIVDA and to obtain and maintain the market and third party acceptance of FOTIVDA; AVEO’s ability to raise the substantial extra funds needed to successfully commercialize FOTIVDA; AVEO’s ability and the ability of its licensees to demonstrate to the satisfaction of appropriate regulatory bodies such as the FDA the safety, efficacy and clinically significant benefit of AVEO’s product candidates, and the risks associated with the timing and cost of acquisition and acquisition of regulatory approvals; AVEO’s reliance on third party suppliers for the development, production and supply of FOTIVDA and its product candidates; AVEO’s ability to enter into and maintain its third party collaboration and licensing agreements, and its ability, and the ability of its strategic partners, to achieve development and commercialization objectives under these arrangements; AVEO and its associates’ ability to successfully enter and complete clinical trials; AVEO’s ability to comply with the regulatory requirements applicable to FOTIVDA and its product candidates; AVEO’s ability to obtain and maintain adequate intellectual property rights with respect to FOTIVDA and its product candidates; unplanned capital requirements; uncertainties regarding AVEO’s ability to access future loans under the Hercules Loan Facility, which aims to achieve milestones in the commercialization of FOTIVDA in the US; unfavorable general economic, political and operating conditions; read out the possible adverse effects of the COVID-19 pandemic on AVEO’s business continuity, financial condition, operating results, liquidity and the ability to enter data from its clinical trials successfully and on time; competitive factors; and the risks discussed in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations – Liquidity and Capital Resources”, included in AVEO’s quarterly and annual reports submitted to the Securities and Exchange Commission (SEC) ) and in other documents that AVEO makes at the SEC. The forward-looking statements in this press release represent AVEO’s views at the date of this press release, and subsequent events and developments may cause its views to change. While AVEO prefers to update these forward-looking statements at some point in the future, it specifically refuses any obligation to do so. Therefore, you should not rely on these forward-looking statements to represent AVEO’s views on any date other than the date of this press release.
Any reference to AVEO’s website address in this press release is intended as an inactive text reference only and not as an active link.
References:
1. Pawlowski N et al. AACR 2013. Poster 3971
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Contacts
AVEO PR:
David Pitts, Argot Partners
(212) 600-1902
[email protected]
AVEO Investor Relations:
Hans Vitzthum, LifeSci Advisors
(617) 430-7578
[email protected]