Arvinas Announces Changes to its Board of Directors
16 June 2023 - 6:30AM
Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology
company creating a new class of drugs based on targeted protein
degradation, today announced that Timothy Shannon, M.D., current
Chairperson and a member of the company’s Board of Directors since
2013, has stepped down from this role. John Houston, Ph.D., has
been named Chairperson, effective today. Additionally, Sunil
Agarwal, M.D., has been appointed to join the company’s Board and
Briggs Morrison, M.D., has been appointed Lead Independent Director
of the Board.
“I have had the privilege of serving on Arvinas’ Board for the
past decade and feel great pride for all that the company has
accomplished during this time,” said Dr. Shannon. “It has been an
honor to watch Arvinas evolve from its humble beginnings into a
late-stage development company with clinical programs that have the
potential to truly help patients. I am confident that the company’s
Board is left with highly capable leadership under John and Briggs,
and I look forward to watching Arvinas’ continued success
unfold.”
“Tim has had an immeasurable impact on Arvinas and has been an
unwavering champion for Arvinas over the past 10 years,” said John
Houston, Chairperson, President and Chief Executive Officer at
Arvinas. “Tim has been a highly valued and trusted partner and it
has been a sincere pleasure to work with him over the years – he
will truly be missed.”
Dr. Sunil Agarwal joins Arvinas’ Board with extensive experience
in the life science industry. He recently served as Executive Vice
President, Head of Development and Chief Medical Officer at Sana
Biotechnology, Inc., and prior to this he served as President of
Research and Development at Juno Therapeutics. He also served as a
former Executive Vice President and Chief Medical Officer at
Ultragenyx Pharmaceutical and previously served in various
leadership roles at Genentech for more than a decade, including
Senior Vice President and Global Head of Clinical Development for
ophthalmology, metabolism, neurosciences, immunology, and
infectious diseases.
Dr. Agarwal completed his residency at Children's National
Medical Center (CNMC), Washington, D.C., and practiced in the CNMC
Pediatric Emergency Department. He obtained his B.S. in
neurobiology from Cornell University and earned his M.D. from Tufts
University School of Medicine.
“I am pleased to welcome Sunil to Arvinas’ Board of Directors,”
said Dr. Houston. “I am confident that his expertise and visionary
mindset will provide an important perspective as we work to deliver
potential treatment options to patients who need them most.”
“It is an honor to be part of an organization that is at the
forefront of pioneering targeted protein degradation therapies and
revolutionizing the field of medicine,” added Dr. Agarwal. “I look
forward to contributing to Arvinas’ continued success, especially
as the company plans and prepares to bring potential treatments to
market.”
About ArvinasArvinas is a clinical-stage
biotechnology company dedicated to improving the lives of patients
suffering from debilitating and life-threatening diseases through
the discovery, development, and commercialization of therapies that
degrade disease-causing proteins. Arvinas uses its proprietary
PROTAC® Discovery Engine platform to engineer proteolysis targeting
chimeras, or PROTAC® targeted protein degraders, that are designed
to harness the body’s own natural protein disposal system to
selectively and efficiently degrade and remove disease-causing
proteins. In addition to its robust preclinical pipeline of PROTAC®
protein degraders against validated and “undruggable” targets, the
company has three investigational clinical-stage programs in
development: bavdegalutamide and ARV-766 for the treatment of men
with metastatic castration-resistant prostate cancer; and
vepdegestrant (ARV-471) for the treatment of patients with early
and locally advanced or metastatic ER positive/human epidermal
growth factor receptor 2 (HER2) negative (ER+/HER2-) breast cancer.
For more information, visit www.arvinas.com.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995 that involve
substantial risks and uncertainties, including statements regarding
the impact that Dr. Agarwal’s expertise and mindset will have as
the company moves forward; and the potential advantages and
therapeutic benefits of the company’s three clinical-stage
programs. . The words “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,”
“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.
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 conduct and complete development for our
clinical-stage programs, whether we initiate and complete clinical
trials for our product candidates and receive results from our
clinical trials on our expected timelines or at all; whether our
cash and cash equivalent resources will be sufficient to fund
our foreseeable and unforeseeable operating expenses and capital
expenditure requirements; and other important factors discussed in
the “Risk Factors” section of our Annual Report on Form 10-K for
the year ended December 31, 2022 and subsequent other reports on
file with the Securities and Exchange Commission. 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.
ContactsInvestors:Jeff Boyle+1
(347) 247-5089Jeff.Boyle@arvinas.com
Media:Kirsten Owens+1 (203)
584-0307Kirsten.Owens@arvinas.com
Arvinas (NASDAQ:ARVN)
Historical Stock Chart
From Apr 2024 to May 2024
Arvinas (NASDAQ:ARVN)
Historical Stock Chart
From May 2023 to May 2024