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BOTHELL, Wash., April 16, 2018 (GLOBE NEWSWIRE) -- Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) (“Alder” or the “Company”), a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, today announced it has appointed Erin Lavelle to the newly created role of Chief Operating Officer, effective April 16, 2018.
Ms. Lavelle brings to Alder 20 years of cross-functional experience leading strategic and operational initiatives in the biopharmaceutical industry. She will be responsible for leading the Company’s operational strategies and planning, and driving continued progress towards the commercialization of eptinezumab. She will report to Paul B. Cleveland, Interim President and Chief Executive Officer.
Ms. Lavelle most recently served as the General Manager of Amgen’s Taiwan affiliate, where she was responsible for managing a portfolio of six commercialized products and leading a team of 80 cross-functional colleagues. Prior to that role, Ms. Lavelle was based in Hong Kong as an Executive Director for the Japan Asia-Pacific region, leading Commercial Excellence and Digital Health, where she was responsible for establishing the business analytics team, the brand strategy process and the region’s governance model during the region’s initial build. Prior to that, she held roles as Executive Director in the areas of Global Marketing, Global Commercial Finance and Strategy, and Corporate Development. Ms. Lavelle began her career in 1998 as an investment banker in the healthcare group at Merrill Lynch & Co. Ms. Lavelle holds a Bachelor of Arts in Economics from Yale University.
“We are very pleased to have Erin join the Alder team and look forward to benefiting from her experience implementing strategic and operational initiatives to drive commercial development as we enter the next phase of Alder’s growth,” said Mr. Cleveland. “Erin brings a proven track record of managing complex operations within the biopharmaceutical industry, and her appointment to the newly-created COO role is another significant step in Alder’s process to build out our team with talented leaders to ensure we are well-positioned for a successful commercialization of eptinezumab.”
“I am excited to join Alder at such an important point in the Company’s path toward commercialization,” said Ms. Lavelle. “Eptinezumab represents a meaningful opportunity to transform treatment for migraine patients, and I look forward to working alongside Alder’s talented team of scientists, physicians and employees.”
About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals, Inc., is a clinical-stage biopharmaceutical company committed to transforming the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions. Leveraging its pioneering monoclonal antibody technologies, Alder discovers and develops novel therapeutic antibodies designed to deliver highly differentiated, best-in-class clinical profiles. Alder's lead pivotal-stage product candidate, eptinezumab, is being evaluated as potentially the first-to-market migraine prevention infusion therapy. Eptinezumab is a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide (CGRP), which is believed to play a key role in mediating and initiating migraine. Alder is additionally evaluating ALD1910, a preclinical product candidate also in development as a migraine prevention therapy. ALD1910 is a monoclonal antibody that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38), another protein that is active in mediating the initiation of migraine. Clazakizumab, Alder's third program, is a monoclonal antibody candidate that inhibits interleukin-6 and is licensed to Vitaeris, Inc. For more information, please visit http://www.alderbio.com.
This press release contains forward-looking statements, including, without limitation, statements relating to: the continued build-out of Alder’s executive team; Alder’s growth and development; the role of Alder’s Chief Operating Officer; the continued development and clinical, therapeutic and commercial potential of eptinezumab; the opportunity of eptinezumab to transform treatment for migraine patients; and the anticipated commercialization of eptinezumab. Words such as “continues,” “build,” “position,” “next,” “growth,” “development,” “will,” “progress,” “look forward,” “drive,” “towards,” “step,” “well-positioned,” “opportunity,” or other similar expressions, identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. The forward-looking statements in this press release are based upon Alder's current plans, assumptions, beliefs, expectations, estimates and projections, and involve substantial risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements due to these risks and uncertainties as well as other factors, which include, without limitation: the uncertain timing of, and risks relating to, the executive search process; risks related to the potential failure of eptinezumab to demonstrate safety and efficacy in clinical testing; Alder's ability to conduct clinical trials and studies of eptinezumab sufficient to achieve a positive completion; the availability of data at the expected times; the clinical, therapeutic and commercial value of eptinezumab; risks and uncertainties related to regulatory application, review and approval processes and Alder's compliance with applicable legal and regulatory requirements; risks and uncertainties relating to the manufacture of eptinezumab; Alder's ability to obtain and protect intellectual property rights, and operate without infringing on the intellectual property rights of others; the uncertain timing and level of expenses associated with Alder’s development and commercialization activities; the sufficiency of Alder's capital and other resources; market competition; changes in economic and business conditions; and other factors discussed under the caption "Risk Factors" in Alder's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, which was filed with the Securities and Exchange Commission (SEC) on February 26, 2018, and is available on the SEC's website at www.sec.gov. Additional information will also be set forth in Alder's other reports and filings it will make with the SEC from time to time. The forward-looking statements made in this press release speak only as of the date of this press release. Alder expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Alder's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Investor Relations Contact:
Vice President, Corporate Strategy
Alder Biopharmaceuticals, Inc.
Stern Investor Relations, Inc.
Andy Brimmer / Aura Reinhard / Trevor Gibbons
Joele Frank, Wilkinson Brimmer Katcher
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