Avalo Therapeutics Appoints Stephen Smolinski as Chief Commercial Officer
11 January 2022 - 11:58AM
Avalo Therapeutics, Inc. (Nasdaq: AVTX) (“Avalo” or the “Company”),
a leading clinical-stage precision medicine company that discovers,
develops, and commercializes targeted therapeutics for patients
with significant unmet clinical need in immunology,
immuno-oncology, and rare genetic diseases today announced the
appointment of Stephen Smolinski as Chief Commercial Officer,
effective January 3, 2022.
“We are thrilled to welcome Stephen to our
leadership team,” said Mike Cola, Chief Executive Officer of Avalo
Therapeutics. “Stephen brings over 25 years of experience in
defining and implementing commercial and business development
strategies. He is well suited to both spearhead the development of
Avalo’s commercial capabilities and help guide business development
activities to identify opportunities to partner assets, as
appropriate, and support activities to complement the company’s
portfolio with strategically aligned new opportunities for Avalo.
On behalf of the Avalo team, I want to thank Jamie Harrell, who
previously served as our Chief Commercial Officer, for his
contributions to Avalo and wish him all the best in his future
endeavors.”
As Chief Commercial Officer, Mr. Smolinski will
lead Avalo’s commercial team including launch readiness initiatives
and play a key role in the development and execution of the
Company’s “go to market” strategy. Prior to joining Avalo, Mr.
Smolinski was the Global Head, Immunology Therapeutic Area at
Swedish Orphan Biovitrum AB (Sobi™). Prior to that Mr. Smolinski
was Chief Commercial Officer for Selecta Biosciences where he led
the commercial efforts related to SEL-212 for Chronic Refractory
Gout. He was involved in multiple gene therapy business development
deals leading to collaborations and licensing deals with AskBio and
Sarepta. Mr. Smolinski served as the Vice President and Head of
Sanofi/Genzyme’s North American Rheumatology Business Unit, where
he led the development of the company's commercialization plans for
the rheumatoid arthritis medicine KEVZARA®. Prior to this, he
served as Global Vice President of Immunology & Inflammation,
Global Strategic Unit at Sanofi. Mr. Smolinski also previously held
senior commercial roles at Roche-Genentech, Bristol-Myers Squibb,
Johnson & Johnson, and Savient Pharmaceuticals. He earned a
B.S. in Health Care Administration from Oregon State
University.
“Avalo is building an exciting company
developing targeted therapeutics in areas of significant unmet
need,” commented Stephen Smolinski, Avalo’s Chief Commercial
Officer. “With validation established in AVTX-002, it is now time
to begin building a comprehensive commercial and business
development strategy to advance these therapies. I am excited to be
joining the Avalo team and look forward to doing my part to build
on the full promise of the Company’s diverse portfolio.”
In connection with the appointment of Mr.
Smolinski and in accordance with the terms of his employment
agreement with Avalo, Avalo’s Board of Directors approved the grant
to Mr. Smolinski of a non-qualified stock option awarded to
purchase 400,000 shares of its common stock, vesting over four (4)
years, with a twelve-month cliff, such that the first 25% will vest
on the first anniversary following Mr. Smolinski’s start date with
Avalo, and the remainder will vest in equal monthly installments
over the following three (3) years, in each case, subject to
continued employment with Avalo through the applicable vesting
date. The stock option was granted on January 4, 2022 as an
inducement material to Mr. Smolinski becoming an employee of Avalo
in accordance with Nasdaq Listing Rule 5635(c)(4). The option has
an exercise price equal to the closing price of Avalo’s common
stock on The Nasdaq Capital Market on January 4, 2022. The option
is subject to the terms and conditions of the stock option
agreement covering the grant.
About Avalo Therapeutics Avalo
Therapeutics is a leading clinical-stage precision medicine company
that discovers, develops, and commercializes targeted therapeutics
for patients with significant unmet clinical need in immunology,
immuno-oncology, and rare genetic diseases. The Company has built a
diverse portfolio of innovative therapies to deliver meaningful
medical impact for patients in urgent need. The Company’s clinical
candidates commonly have a proven mechanistic rationale, biomarkers
and/or an established proof-of-concept to expedite and increase the
probability of success.
For more information about Avalo, please visit
www.avalotx.com.
Forward-Looking StatementsThis
press release may include forward-looking statements made pursuant
to the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements are subject to significant
risks and uncertainties that are subject to change based on various
factors (many of which are beyond Avalo’s control), which could
cause actual results to differ from the forward-looking statements.
Such statements may include, without limitation, statements with
respect to Avalo’s plans, objectives, projections, expectations and
intentions and other statements identified by words such as
“projects,” “may,” “might,” “will,” “could,” “would,” “should,”
“continue,” “seeks,” “aims,” “predicts,” “believes,” “expects,”
“anticipates,” “estimates,” “intends,” “plans,” “potential,” or
similar expressions (including their use in the negative), or by
discussions of future matters such as: the future financial and
operational outlook; the development of product candidates or
products; timing and success of trial results and regulatory
review; potential attributes and benefits of product candidates;
and other statements that are not historical. These statements are
based upon the current beliefs and expectations of Avalo’s
management but are subject to significant risks and uncertainties,
including: drug development costs, timing and other risks,
including reliance on investigators and enrollment of patients in
clinical trials, which might be slowed by the COVID-19 pandemic;
regulatory risks; Avalo's cash position and the potential need for
it to raise additional capital; general economic and market risks
and uncertainties, including those caused by the COVID-19 pandemic;
and those other risks detailed in Avalo’s filings with the SEC.
Actual results may differ from those set forth in the
forward-looking statements. Except as required by applicable law,
Avalo expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Avalo’s expectations with
respect thereto or any change in events, conditions or
circumstances on which any statement is based.
For media and investor
inquiries
Chris BrinzeyWestwicke, an ICR
CompanyChris.brinzey@westwicke.com339-970-2843
or
Schond L. GreenwayInvestor RelationsChief
Financial OfficerAvalo
Therapeuticssgreenway@avalotx.com610-522-6200
For media inquiries
Robert Stanislaro or Helen O’GormanFTI
Consultingrobert.stanislaro@fticonsulting.comhelen.o’gorman@fticonsulting.com
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