Abeona Therapeutics Appoints Madhav Vasanthavada, Ph.D., M.B.A. as Chief Commercial Officer
12 September 2023 - 9:30PM
Abeona Therapeutics Inc. (Nasdaq: ABEO) today announced the
appointment of Madhav Vasanthavada, Ph.D., M.B.A. to the role of
Chief Commercial Officer (CCO) and Head of Business Development
(BD), effective immediately. In this capacity, in addition to his
current BD responsibilities, Dr. Vasanthavada will oversee all
aspects of commercial strategy, planning and operations as Abeona
prepares for a potential launch of EB-101, its investigational,
genetically engineered autologous cell therapy for recessive
dystrophic epidermolysis bullosa (RDEB). Dr. Vasanthavada is a
seasoned commercial executive bringing over 20 years of experience
with leadership roles in sales, marketing, and market access in the
life sciences industry, including launch experience with autologous
cell therapies. Over the past year, as Abeona’s Head of BD, Dr.
Vasanthavada’s efforts to assess EB-101’s commercial opportunity
informed the Company’s strategy to prepare for a U.S. commercial
launch without depending on a partner.
“Madhav’s appointment as Chief Commercial
Officer is timely as Abeona prepares for the transition into a
commercial-stage organization with the potential approval and
launch of EB-101 in the U.S. next year,” said Vish Seshadri, Chief
Executive Officer of Abeona. “His diverse commercial leadership
experience, coupled with his strong track record launching
autologous cell therapies with a heavy focus on customer
experience, makes Madhav the ideal candidate to lead the staged
build-out of our highly focused, nimble commercial organization and
for maximizing the commercial opportunity for EB-101.”
Prior to Abeona, Dr. Vasanthavada served in
commercial leadership roles at Bristol Myers Squibb (BMS) and
Celgene, where he led the marketing team in the Global CAR-T Cell
Therapy Franchise to launch two autologous cell therapies,
Breyanzi® (lisocabtagene maraleucel) and Abecma® (idecabtagene
vicleucel), in key worldwide markets. Previously, Dr. Vasanthavada
served in a variety of U.S. commercial roles at Bayer in marketing,
market access and sales, and was ultimately the brand leader for
Xofigo® (radium Ra 223 dichloride). He began his career as a
scientist in Novartis R&D where his work led to multiple
patents and publications. Dr. Vasanthavada holds a Ph.D. in
Pharmaceutical Sciences from the University of Rhode Island, and an
M.B.A. from the Harvard Business School.
Dr. Vasanthavada said, “I am looking forward to
continuing our work with the EB community and am thrilled to lead
Abeona’s launch and commercialization efforts for EB-101 that can
potentially transform the lives of RDEB patients and their families
who are suffering from this debilitating disease.”
About Abeona Therapeutics
Abeona Therapeutics Inc. is a clinical-stage biopharmaceutical
company developing cell and gene therapies for serious diseases.
Abeona’s lead clinical program is EB-101, its investigational
autologous, engineered cell therapy currently in development for
recessive dystrophic epidermolysis bullosa. The Company’s
development portfolio also features AAV-based gene therapies for
ophthalmic diseases with high unmet medical need. Abeona’s novel,
next-generation AAV capsids are being evaluated to improve tropism
profiles for a variety of devastating diseases. Abeona’s fully
integrated cell and gene therapy cGMP manufacturing facility
produced EB-101 for the pivotal Phase 3 VIITAL™ study and is
capable of clinical and potential commercial production of
AAV-based gene therapies. For more information, visit
www.abeonatherapeutics.com.
Forward-Looking Statements This
press release contains certain statements that are forward-looking
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and that involve risks and uncertainties. We have
attempted to identify forward-looking statements by such
terminology as “may,” “will,” “believe,” “anticipate,” “expect,”
“intend,” and similar expressions (as well as other words or
expressions referencing future events, conditions or
circumstances), which constitute and are intended to identify
forward-looking statements. Actual results may differ materially
from those indicated by such forward-looking statements as a result
of various important factors, numerous risks and uncertainties,
including but not limited to, the timing and outcome of our
Biologics License Application submission to the FDA for EB-101;
continued interest in our rare disease portfolio; our ability to
enroll patients in clinical trials; the outcome of future meetings
with the FDA or other regulatory agencies, including those relating
to preclinical programs; the ability to achieve or obtain necessary
regulatory approvals; the impact of any changes in the financial
markets and global economic conditions; risks associated with data
analysis and reporting; and other risks disclosed in the Company’s
most recent Annual Report on Form 10-K and subsequent periodic
reports filed with the Securities and Exchange Commission. The
Company undertakes no obligation to revise the forward-looking
statements or to update them to reflect events or circumstances
occurring after the date of this press release, whether as a result
of new information, future developments or otherwise, except as
required by the federal securities laws.
Investor and Media Contact:
Greg Gin
VP, Investor Relations and Corporate Communications
Abeona Therapeutics
ir@abeonatherapeutics.com
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