Alpine Immune Sciences Announces Appointment of Wolfgang Dummer, M.D., Ph.D., as Chief Medical Officer and Grant under Nasdaq Listing Rule 5635(c)
04 October 2023 - 11:00PM
Business Wire
Alpine Immune Sciences, Inc. (NASDAQ: ALPN), a leading
clinical-stage immunotherapy company focused on developing
innovative treatments for autoimmune and inflammatory diseases,
today announced the appointment of Wolfgang Dummer, M.D., Ph.D., to
Chief Medical Officer effective October 2, 2023. He succeeds Andrew
Sandler, M.D., who will transition responsibilities to Dr. Dummer
through the remainder of the year.
“Wolfgang is a highly accomplished drug developer with deep
expertise in rare disease, immunology, and immunotherapy. His
experience working across all phases of clinical development
through regulatory approval will be important as we continue to
advance our pipeline of new therapies for patients living with
autoimmune and inflammatory diseases,” said Mitchell H. Gold M.D.,
Executive Chairman and Chief Executive Officer. “We thank Andy for
his leadership and significant contributions during his tenure at
Alpine. He has been an important and valuable member of the Alpine
executive team as we have evolved our development efforts over the
last year to focus on helping patients suffering from autoimmune
and inflammatory diseases.”
Dr. Dummer brings over 20 years of global drug development
leadership experience and has led the development of multiple drug
approvals in immunology and rare diseases. He joins Alpine from
Rigel Pharmaceuticals, where he served as Chief Medical Officer.
Prior to his time at Rigel, Dr. Dummer served as Vice President of
Clinical Development at BioMarin, and previously held various roles
of increasing responsibility at Genentech where he was Global
Development Leader for ocrelizumab and rituximab, overseeing
development in rheumatoid arthritis, systemic lupus erythematosus,
and lupus nephritis. Dr. Dummer completed his medical training in
Germany, including an M.D. and Ph.D. in Medical Science from the
Technical University of Munich and subsequent board certification
in allergy/immunology and dermatology.
“I am excited to join Alpine during this transformational time
to help advance a robust immunology pipeline, including the
development of povetacicept which has a broad pipeline potential
across a number of autoimmune and inflammatory diseases,” said Dr.
Dummer. “I look forward to working with the Alpine team as we
position the company for its next phase of development.”
In conjunction with his employment, effective October 2, 2023,
Dr. Dummer has been granted an option to purchase 200,000 shares of
common stock. The option will vest with respect to 25% of the
shares underlying the option on the one-year anniversary of his
employment start date with the Company; the remaining 75% of the
shares underlying the option will vest in equal monthly
installments over the 36-month period following the one-year
anniversary of Dr. Dummer’s employment start date, subject to his
continued service to Alpine through each relevant vesting date.
In addition, pursuant to the terms of Alpine’s change of control
and severance policy, if there is a change of control and, upon or
during the 12 months after the change of control, Dr. Dummer’s
employment is terminated either (i) by Alpine without cause or (ii)
by Dr. Dummer for good reason, the option will become fully vested
and exercisable. The option has a ten-year term and an exercise
price of $11.37, equal to the per share closing price of Alpine’s
common stock as reported by Nasdaq on October 2, 2023. The stock
options were granted outside Alpine’s 2018 Equity Incentive Plan as
an inducement material to Dr. Dummer entering into employment with
Alpine in accordance with Nasdaq Listing Rule 5635(c)(4). The terms
and conditions of the option are generally consistent with those in
Alpine’s 2018 Equity Incentive Plan.
About Alpine Immune
Sciences
Alpine Immune Sciences is committed to leading a new wave of
immune therapeutics. With world-class research and development
capabilities, a highly productive scientific platform, and a proven
management team, Alpine is seeking to create first- or
best-in-class multifunctional immunotherapies via unique protein
engineering technologies to improve patients’ lives. Alpine has
entered into strategic collaborations with leading global
biopharmaceutical companies and has a diverse pipeline of clinical
and preclinical candidates in development. For more information,
visit www.alpineimmunesciences.com. Follow @AlpineImmuneSci on
Twitter and LinkedIn.
Forward-Looking
Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
not based on historical fact and include statements regarding our
platform technology, potential therapies and product candidates,
including those regarding our future development plans.
Forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or
conditions and include words such as “may,” “will,” “should,”
“would,” “expect,” “plan,” “intend,” and other similar expressions,
among others. These forward-looking statements are based on current
assumptions that involve risks, uncertainties, and other factors
that may cause actual results, events, or developments to be
materially different from those expressed or implied by such
forward-looking statements. These risks and uncertainties, many of
which are beyond our control, include, but are not limited to:
clinical trials may not demonstrate safety and efficacy of any of
our product candidates; our ongoing discovery and preclinical
efforts may not yield additional product candidates; our
discovery-stage and preclinical programs may not advance into the
clinic or result in approved products; any of our product
candidates may fail in development, may not receive required
regulatory approvals, or may be delayed to a point where they are
not commercially viable; we may not achieve additional milestones
in our proprietary or partnered programs; the impact of
competition; adverse conditions in the general domestic and global
economic markets; the impact of pandemics, or other related health
crises on our business, research and clinical development plans and
timelines and results of operations, including the impact on our
clinical trial sites, collaborators, and contractors who act for or
on our behalf, may be more severe and prolonged than currently
anticipated; as well as the other risks identified in our filings
with the Securities and Exchange Commission. These forward-looking
statements speak only as of the date hereof and we undertake no
obligation to update forward-looking statements, and readers are
cautioned not to place undue reliance on such forward-looking
statements.
Source: Alpine Immune Sciences, Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231004890064/en/
Media and Investor Relations
Contact: Temre Johnson Alpine Immune Sciences, Inc.
ir@alpineimmunesciences.com media@alpineimmunesciences.com
Alpine Immune Sciences (NASDAQ:ALPN)
Historical Stock Chart
From Apr 2024 to May 2024
Alpine Immune Sciences (NASDAQ:ALPN)
Historical Stock Chart
From May 2023 to May 2024