DGAP-News: Aprea AB / Key word(s): Change of Personnel
Aprea AB Names Christian S. Schade President and Chief Executive Officer
16.06.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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For Immediate Release
Aprea AB Names Christian S. Schade President and Chief Executive Officer
Boston, MA, USA and Stockholm, Sweden, June 16, 2016 – Aprea AB, a
privately held, clinical-stage biopharmaceutical company developing novel
anticancer therapies targeting the tumor suppressor protein p53, today
announced that Christian S. Schade has been named President and Chief
Executive Officer. Mr. Schade, who will be based in Boston, has more than
30 years of private and public pharmaceutical and biotechnology industry
experience, as well as broad corporate finance expertise from his tenure in
the investment banking industry. Prior to joining Aprea, he was Chief
Executive Officer of Novira Therapeutics, which was acquired in December
2015 by Johnson & Johnson in an all-cash transaction.
“I am delighted to welcome Chris to Aprea,” said Bernd R. Seizinger, M.D.,
Ph.D., Chairman of the Board of Directors. “He is an accomplished
biopharmaceutical executive with proven experience leading companies
through times of change and growth. He has successfully executed major
transactions, including IPOs and other financings, and has been on both
sides of major mergers and acquisitions. He will be an important asset to
Aprea as we continue to develop novel anticancer therapies targeting the
tumor suppressor protein, p53. Furthermore, Chris has excellent credentials
to build a strategic leadership team in the U.S. to complement the R&D
activities of the team in Sweden.”
“I am pleased to be joining Aprea at such an important time in the
Company’s evolution and look forward to helping to build upon its
leadership position in developing anticancer therapies targeting p53
suppression,” said Christian S. Schade, Aprea’s new President and Chief
Executive Officer. “With a lead product entering Phase II clinical testing
in ovarian cancer, and a strong portfolio of earlier-stage clinical
opportunities, Aprea is well-positioned for sustainable innovation in
oncology and value creation for shareholders. I look forward to working
with the Company’s Board of Directors and dedicated employees to develop
therapies which hold the potential to deliver better outcomes for cancer
patients across an expanding range of indications.”
Prior to joining Novira, Mr. Schade was Executive Vice President and Chief
Financial Officer at Omthera, a NASDAQ-listed specialty pharmaceuticals
company focused on the development and commercialization of new therapies
for dyslipidemia. At Omthera, Mr. Schade was responsible for all corporate
finance, accounting and business development activities, and led the sale
of Omthera in July 2013 to AstraZeneca. He also was Executive Vice
President and Chief Financial Officer at NYSE-listed NRG Energy, and from
2000 to 2009, he was Senior Vice President of Administration and Chief
Financial Officer at Medarex, a biopharmaceutical company focused on
antibody-based therapeutic products for oncology, inflammation, autoimmune
disorders and infectious diseases. Mr. Schade played a pivotal role in the
acquisition of Medarex by Bristol-Myers Squibb, leading the negotiations
for the sale and the eventual merger-integration process of the research,
development and administrative functions.
Before joining Medarex, Mr. Schade served as Managing Director at Merrill
Lynch in London and held various corporate finance and capital markets
positions in New York and London for both Merrill Lynch and JP Morgan Chase
& Co. Mr. Schade received an MBA from the Wharton School at the University
of Pennsylvania and an AB from Princeton University. Mr. Schade currently
serves on the Board of Directors of Integra Life Sciences Inc. and the
Board of Directors of Indivior PLC.
About p53 and APR-246
The p53 tumor suppressor gene is the most frequently mutated gene in human
cancer, occurring in approximately 50% of all human tumors. These
mutations are often associated with resistance to anticancer drugs and poor
overall survival, representing a major unmet medical need in the treatment
of cancer.
APR-246 has been shown to reactivate mutant p53 protein – by reconverting
mutant p53 into wild-type p53 conformation and function – and thereby
induce programmed cell death in human cancer cells. APR-246 has
demonstrated compelling pre-clinical antitumor activity in a wide variety
of solid and hematological (blood) tumors, including ovarian cancer, small
cell lung cancer, esophageal cancer and AML (acute myeloid leukemia), among
others. Additionally, strong synergy has been seen with both traditional
anticancer agents, such as chemotherapy, as well as newer mechanism-based
anticancer drugs. In addition to pre-clinical testing, a Phase I clinical
study has been completed, demonstrating a favorable safety profile and both
biological and clinical responses in hematological tumors with mutations in
the p53 gene. APR-246 is currently in a Phase Ib/II clinical trial in
patients with high-grade serous ovarian cancer. The Phase Ib part has
completed. In the Phase II clinical study, Aprea will enroll up to 400
ovarian cancer patients in Europe and the U.S. Patients will be randomized
between carboplatin and pegylated liposomal doxorubicin with or without
APR-246; the primary endpoint for the study is progression-free survival
(PFS). The Company is also expecting to begin additional clinical studies
of APR-246 in other cancer indications.
About Aprea
Aprea AB is a Stockholm, Sweden and Boston, Massachusetts-based
biopharmaceutical company focused on the discovery and development of novel
anticancer compounds reactivating the tumor suppressor protein, p53. The
Company’s lead program, APR-246, a first-in-class small molecule drug
candidate, is in Phase Ib/II clinical development in ovarian cancer
patients, and additional clinical studies with APR-246 in other cancer
indications are planned. In March 2016, Aprea completed a EUR 46 million
Series B financing with an international syndicate co-led by Versant
Ventures and 5AM Ventures, with additional participation by Sectoral Asset
Management, HealthCap, acting as local lead investor, and existing
investor, Karolinska Development. For more information, please visit
www.aprea.com.
Contacts:
Media relations: MC Services AG Laurie Doyle Shaun Brown +1 339 832 0752 +44 207 148 5998 Laurie.doyle@mc-services.eu Shaun.brown@mc-services.eu
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