Healthcare Industry News: Allergan
News Release - September 18, 2019
BioTheryX, Inc. Announces the Appointment of Biopharma Veteran Jeffrey L. Edwards to Board of DirectorsBioTheryX plans to continue building out Board of Directors with key biopharma industry leaders as Company transitions from preclinical to clinical stage with lead Acute Myeloid Leukemia ("AML") compound BTX-A51
CHAPPAQUA, N.Y., Sept. 18, 2019 -- (Healthcare Sales & Marketing Network) -- BioTheryX, Inc. ("BioTheryX"), a biotechnology company creating new classes of drugs for unmet medical needs based on multi-kinase inhibition and targeted protein degradation, today announced the appointment of Jeffrey Edwards to its board of directors. Mr. Edwards retired from Allergan, Inc. in February 2015 after nearly 22 years at the company. Mr. Edwards served as Executive Vice President, Finance and Business Development, Chief Financial Officer of Allergan, Inc. from September 2005 to August 2014. From 2003 to 2005, Mr. Edwards served as Allergan's Corporate Vice President, Corporate Development and previously served as Senior Vice President, Treasury, Tax and Investor Relations. Mr. Edwards currently serves on the board of directors and as Compensation Committee chairman and a member of both the Audit and Compliance Committees of Bio-Rad Laboratories, Inc., a publicly traded medical device diagnostics company. Mr. Edwards also serves on the board of directors and as Audit Committee chairman of FibroGen, Inc, a publicly traded biopharmaceutical company. He is also a director of Clearside Biomedical Inc., a publicly traded pharmaceutical company, where he is a member of both the Compensation Committee and Audit Committee. Mr. Edwards received a Bachelor of Arts degree in Sociology from Muhlenberg College and completed the Advanced Management Program at the Harvard Business School.
"We believe that Jeff's track record, experience and reputation in the business of biopharma are a great fit for BioTheryX as we transition from being a preclinical to a clinical stage biotechnology company with our lead compound, BTX-A51, on the cusp of human clinical trials," said David Stirling, CEO of BioTheryX. "We are delighted to have him on our Board, and we're looking forward to working with him as we also drive the lead compounds from our broad platform Protein Homeostatic Modulator ("PHM®") program toward the clinic in the burgeoning field of Targeted Protein Degradation."
In addition to Mr. Edwards, the BioTheryX Board currently includes:
- David Stirling, PhD – CEO/Founder (Co-founder and former CSO, Celgene) repositioned thalidomide as a breakthrough therapy for cancer, myelodysplastic syndrome and related conditions. Developed Celgene into a top-tier pharmaceutical business. Led effort to develop a class of antiproliferative and immunomodulatory drugs such as the targeted protein degrading "molecular glues" THALOMID®, REVLIMID®, and POMALYST®, as well as OTEZLA® and ADHD drug FOCALIN®
- Lawrence Zaslow, MBA – President/Founder, founding member of Amphion Innovations
- Louis DeGennaro, PhD – Board Member, CEO/President, Leukemia & Lymphoma Society
BioTheryX was founded by the drug development team behind the remarkable IMiDs® franchise of compounds (a highly successful class of anti-cancer drugs), and is applying its extensive and proven commercial experience to deliver efficacious therapies to patients with unmet medical needs. Our lead drug candidates are orally available small molecules for the treatment of cancers and inflammatory diseases. In addition to the BTX-A51 multi-kinase program described above, BioTheryX's other technology platform is in the field of targeted protein degradation. This technology uses the body's own protein disposal system to selectively degrade and remove disease-causing proteins. It has potential applicability to a very broad range of disease targets, including a wide range of targets that have to date been considered "undruggable." In this area, BioTheryX's pre-clinical assets include a large and growing library of novel small molecule, cereblon-binding targeted protein degraders, which BioTheryX has termed Protein Homeostatic Modulators (PHM®). These IP-protected compounds are biologically active against a number of high value therapeutic targets in oncology, inflammation and other diseases. In addition to the therapeutic potential of these "molecular glue" molecules in their own right, these compounds also have a broad range of molecular orientations when bound to cereblon, providing a new level of structural control in the creation of bifunctional chimeric molecules that degrade high-value targets with great specificity. Recognizing this potential, BioTheryX has created a library of PHM-linked, biologically active chimeric molecules, including several that degrade the oncogenic targets of BTX-A51, thus dovetailing BioTheryX's two major programs.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the performance of the new board member described herein, as well as the development and regulatory status of our product candidates, including the timing of our clinical trial for BTX-A51, and other statements which involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements regarding our strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "propose," "predict," "project," "forecast," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside BioTheryX's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various risks and uncertainties, including but not limited to: whether we will be able to successfully initiate a Phase 1 clinical trial for BTX-A51, file an IND for BTX-A51, and complete our clinical trials for our product candidates on our expected timelines, or at all, whether our cash resources will be sufficient to fund our foreseeable and unforeseeable operating expenses and capital expenditure requirements our expected timeline, whether we are able to effectively manufacture or market any of our products after successful clinical trials and other important factors. The forward-looking statements contained in this press release reflect our current views with respect to future events, and we assume no obligation to update any forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release. BioTheryX does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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