LYON, France–(BUSINESS WIRE)–Regulatory News:
“We welcome Allene to our Board of Directors and look forward to the contributions she will make and leveraging her strategic counsel as we work toward advancing our ERYCAPS technology platform-based products.”
ERYTECH Pharma (Euronext Paris:ERYP) (Paris:ERYP) (ADR:EYRYY), a French biopharmaceutical company developing ‘tumor starvation’ treatments for acute leukemia and other oncology indications with unmet medical needs, today announced the appointment of Allene M. Diaz to its Board of Directors as a nonvoting member (censeur). As censeur, Ms. Diaz will initially attend all Board of Directors meetings in an advisory capacity. ERYTECH intends to nominate her to serve as a voting Board member in January 2017 in anticipation to the next general shareholders’ meeting. Ms. Diaz has more than 20 years of experience in the global biopharmaceutical and biotechnology industry and has held management and executive positions at leading biopharmaceutical companies, including TESARO, Merck Serono, Biogen Idec and Pfizer.
“Allene’s extensive experience in the biopharmaceutical industry, and oncology specifically, will be invaluable to us at this important time of our clinical development,” commented Gil Beyen, Chief Executive Officer and Chairman of the Board of ERYTECH Pharma. “We welcome Allene to our Board of Directors and look forward to the contributions she will make and leveraging her strategic counsel as we work toward advancing our ERYCAPS technology platform-based products.”
“I am delighted to be joining ERYTECH‘s Board of Directors,” said Ms. Diaz. “I believe ERYTECH is well positioned for success with its promising pipeline of early and late-stage product candidates, proprietary red-blood cell technology and strong leadership team. It is an exciting time for the Company as it continues to work toward commercialization of its lead product GRASPA® in Europe, is actively enrolling patients in three clinical trials, and is developing new clinical studies both in Europe and in the United States. I look forward to working closely with the Board and leadership team to contribute to the achievement of key developmental milestones and supporting the Company’s plans in this next phase of growth.”
Ms. Diaz has significant experience in the biopharmaceutical industry with broad cross-functional expertise in sales, medical affairs, marketing, new product planning, portfolio planning, strategic planning, and market access. She currently serves as Senior Vice President, Global Commercial Development at TESARO, where she focuses on development of commercialization strategies across therapeutic assets, evaluates the commercial impact of clinical development options, and assesses potential in-licensing opportunities. Prior to joining TESARO, Ms. Diaz served as Senior Vice President, Managed Markets at EMD Serono, an affiliate of Merck KGaA, Darmstadt, Germany, where she developed market access strategies and tactics for reimbursement by commercial and government payers across the EMD Serono portfolio. Previously, Ms. Diaz also held the positions of Senior Vice President, Head of Oncology Commercial, U.S. and Vice President, Oncology Marketing at EMD Serono, where she oversaw the commercial pre-launch efforts for EMD Serono’s oncology products. Ms. Diaz has held executive, management and/or line positions at other leading companies including Amylin Pharmaceuticals, Cancervax Corporation, Biogen Idec, Pfizer, and Parke-Davis Pharmaceuticals.
Ms. Diaz graduated cum laude with a Bachelor of Science from Florida State University. She has also attended executive education programs at the London School of Business and Finance, University of Michigan School of Business, China Europe International Business School (Shanghai, China), Stanford University School of Business and INSEAD (Fontainebleau, France).
About ERYTECH and eryaspase (eryasp/GRASPA®): www.erytech.com
Founded in Lyon, France in 2004, ERYTECH is a clinical-stage biopharmaceutical company developing innovative therapies for rare forms of cancer and orphan diseases. Leveraging its proprietary ERYCAPS platform, which uses a novel technology to encapsulate therapeutic drug substances inside red blood cells, ERYTECH has developed a pipeline of product candidates targeting markets with high unmet medical needs. ERYTECH’s initial focus is on the treatment of blood cancers, including acute lymphoblastic leukemia (ALL) and acute myeloid leukemia (AML), by depriving tumors of nutrients necessary for their survival. ERYTECH has recently filed for European Marketing Authorization for its lead product candidate, eryaspase, also known as eryasp and under the trade name GRASPA®, following positive efficacy and safety results from its completed Phase 2/3 pivotal clinical trial of GRASPA in Europe in children and adults with relapsed or refractory ALL. ERYTECH also has an ongoing Phase 1 clinical trial of eryaspase in the United States in adults with newly diagnosed ALL, and a Phase 2b clinical trial of GRASPA in Europe in elderly patients with newly diagnosed AML, each in combination with chemotherapy.
Eryaspase consists of an enzyme, L-asparaginase, encapsulated inside donor-derived red blood cells. L-asparaginase depletes asparagine, a naturally occurring amino acid essential for the survival and proliferation of cancer cells, from circulating blood plasma. Every year, over 50,000 patients in Europe and the United States are diagnosed with ALL or AML. For about 80% of these patients, mainly adults and relapsing patients, current forms of L-asparaginase cannot be used due to their toxicity or as a result of allergic reactions. ERYTECH believes that the safety and efficacy profile of eryasp/GRASPA®, as observed in its Phase 2/3 pivotal clinical trial, offers an attractive alternative option for the treatment of leukemia patients.
ERYTECH believes that eryaspase has the potential as a treatment approach in solid tumors and is conducting a Phase 2 clinical trial in Europe in patients with metastatic pancreatic cancer. In addition to its current product candidates that focus on using encapsulated enzymes to induce tumor starvation, ERYTECH is exploring the use of its platform for developing immunotherapy products and enzyme replacement therapies.
The European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA) have granted orphan drug designations for eryaspase/GRASPA for the treatment of ALL, AML and pancreatic cancer. ERYTECH produces the product at its own GMP-approved and operational manufacturing site in Lyon (France), and at a site for clinical production in Philadelphia (USA). ERYTECH has entered into licensing and distribution partnership agreements for eryaspase for ALL and AML in Europe with Orphan Europe (Recordati Group), and for ALL in Israel with TEVA, which will market the product under the GRASPA® brand name.
ERYTECH is listed on Euronext regulated market in Paris (ISIN code: FR0011471135, ticker: ERYP) and is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indexes. ERYTECH is also listed in the U.S. under an ADR level 1 program (OTC, ticker EYRYY).
This press release may contain forward-looking statements and estimates with respect to the financial position, results of operations, business strategy, plans, objectives and anticipated future performance of ERYTECH and of the market in which it operates. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will” and “continue” and similar expressions. Statements in this press release that are not historical facts are forward-looking statements. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond ERYTECH’s control. There can be no guarantees with respect to pipeline product candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. Therefore, actual results may turn out to be materially different from the anticipated future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Documents filed by ERYTECH Pharma with the French Autorité des Marchés Financiers (www.amf-france.org), also available on ERYTECH’s website (www.erytech.com) describe such risks and uncertainties. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of the publication of this press release. Readers are cautioned not to place undue reliance on any of these forward-looking statements. ERYTECH disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in ERYTECH’s expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by law.
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