OLDWICK, N.J., Sept. 5, 2018 /PRNewswire/ -- Provention Bio,
Inc. (Nasdaq:PRVB), a clinical stage biopharmaceutical company
dedicated to intercepting and preventing immune-mediated diseases,
announced today the appointment of Avery
(Chip) W. Catlin, a seasoned and accomplished
corporate financial executive, to its Board of Directors.
![(PRNewsfoto/Provention Bio, Inc.) (PRNewsfoto/Provention Bio, Inc.)](https://mma.prnewswire.com/media/720849/Provention_Bio_Logo.jpg)
Mr. Catlin brings more than 22 years of experience as a senior
financial officer of public biopharmaceutical companies to
Provention. He served previously as Senior Vice President and Chief
Financial Officer of Celldex Therapeutics, Inc., where he raised
more than $500 million from equity,
convertible debt and private placement transactions, as well as
devised and led financial strategies to successfully complete
several asset acquisitions adding substantial long term value for
the company. As a Board member for Provention, Mr. Catlin's
proven expertise in corporate fundraising, asset acquisition
financing and fiscal oversight further reinforces Provention's
distinctive competence as the company continues to advance the
development of its current pipeline and deploys its unique strategy
of licensing or acquiring clinical-stage assets targeting novel
mechanisms to intercept, delay or prevent the progression of
immune-mediated disease.
"We are honored to welcome Chip to our Board of Directors, where
we expect to benefit from his extensive corporate leadership
experience and expertise," stated Ashleigh
Palmer, CEO of Provention Bio. "Provention's success is
based upon our ability to acquire targeted assets on preferential
terms, manage our operations efficiently and effectively to
expedite our therapeutic candidates through the clinic, and build
significant optionality and value via strategic partnership.
With his outstanding track record of managing the rapid growth and
expansion of life sciences corporations, we are confident Chip will
help Provention deliver successful operational and transactional
execution of its vision and strategic intent to reduce the high
morbidity, mortality, patient suffering, and escalating costs of
chronic autoimmune and inflammatory diseases, such as type 1
diabetes (T1D), Crohn's disease, ulcerative colitis and lupus."
Provention's development pipeline includes a Phase 3 candidate
for the interception of type 1 diabetes (T1D), two Phase 2,
clinical-stage immunology candidates for inflammatory bowel
diseases (IBD), a Phase 1 candidate for auto-antibody-mediated
diseases such as systemic lupus erythematosus (SLE), and an
investigational new drug (IND)-enabling-stage vaccine for acute
coxsackie B virus (CBV) infection and the potential prevention or
delay in onset of T1D.
"I am delighted to join the Board so soon after Provention's
upsized initial public offering," said Mr. Catlin. "I was
attracted and greatly impressed by the Provention team's rapid
execution to date and especially excited by its pioneering an
innovative new way to intercept disease progression and prevent the
daily suffering in chronic immune-related conditions. As a Board
member, I plan to take an active role, leveraging my significant
financial, operational, and transactional fundraising experience to
ensure the company continues along its trajectory by working
closely with the Provention executive team to optimize the outcome
and value of critical growth initiatives."
Prior to Celldex, Mr. Catlin held senior financial and
operational positions with biopharma companies Endogen, Inc. and
Repligen Corporation. He currently sits on the Board of Corbus
Pharmaceutical Holdings, Inc. Mr. Catlin earned a B.A. in
Psychology from the University of
Virginia and an MBA from Boston
College. He is also a certified public accountant.
About Provention Bio, Inc.
Provention Bio, Inc. is a
clinical-stage biopharmaceutical company leveraging a
transformational drug development strategy that is focused on the
prevention or interception of immune-mediated disease. Our
diverse portfolio was assembled with product candidates that have
undergone clinical testing but may have been underdeveloped or
deprioritized assets at other companies. Provention's mission is to
in-license, transform and develop clinical-stage, or nearly
clinical-stage, therapeutic candidates targeting the high
morbidity, mortality and escalating costs of autoimmune and
inflammatory diseases including: type 1 diabetes (T1D), Crohn's
disease, ulcerative colitis, lupus, and certain life-threating
viral diseases. For more information on Provention Bio, please
visit www.proventionbio.com.
Forward Looking Statements
Certain statements in
this press release are forward-looking within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
may be identified by the use of forward-looking words such as
"anticipate," "believe," "forecast," "estimate," "expect," and
"intend," among others. These forward-looking statements are based
on Provention's current expectations and actual results could
differ materially. There are a number of factors that could cause
actual events to differ materially from those indicated by such
forward-looking statements. These factors include, but are not
limited to, risks related to failure to obtain FDA approvals or
clearances and noncompliance with FDA regulations; uncertainties of
patent protection and litigation; limited research and development
efforts and dependence upon third parties; substantial competition;
our need for additional financing and the factors listed under
"Risk Factors" in our quarterly report on Form 10-Q for the quarter
ended June 30, 2018 and any
subsequent filings with the Securities and Exchange Commission
(SEC). As with any pharmaceutical under development, there are
significant risks in the development, regulatory approval and
commercialization of new products. Provention does not undertake an
obligation to update or revise any forward-looking statement. The
information set forth herein speaks only as of the date
hereof.
Media & Investor Contacts
Jason Rando / Joshua
Drumm, Ph.D.
Tiberend Strategic Advisors, Inc.
T: 212 375 2665 / 212 375 2664
jrando@tiberend.com
jdrumm@tiberend.com
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SOURCE Provention Bio, Inc.