Aileron Therapeutics Announces Changes to Management
May 15 2018 - 4:05PM
Aileron Therapeutics (Nasdaq:ALRN), the clinical-stage leader in
the field of stapled peptide therapeutics for cancers and other
diseases, today announced that Joseph A. Yanchik III has resigned
as President and Chief Executive Officer of the Company and as
a member of its Board of Directors. Biopharma industry veteran John
P. Longenecker, Ph.D. has been named interim Chief Executive
Officer.
“I would like to thank Joe on behalf of the Board of Directors
for his 12 years of service to Aileron,” said Jeff Bailey, Chairman
of Aileron’s Board of Directors. “In that time, Joe has led Aileron
from a conceptual-stage technology platform to a clinical-stage,
publicly listed company with a promising lead product candidate in
mid-stage clinical trials. As we move forward, we are fortunate to
have John join Aileron as it transitions to the next stage of
growth. We look forward to his contributions as we advance the
clinical development of our lead program, ALRN-6924, as well as our
pipeline of novel stapled peptide therapeutics while we conduct our
search for a new chief executive officer.”
“I am excited to join Aileron as it looks to realize the full
clinical potential of ALRN-6924,” commented John Longenecker,
Aileron’s interim Chief Executive Officer. “I have been impressed
with the enthusiasm and dedication of the senior management team
and the potential of the Company’s stapled peptide technology
platform. I am looking forward to working with the entire Aileron
team and Board as we advance the clinical programs for ALRN-6924
for the treatment of a range of cancers.”
Dr. Longenecker brings 30 years of executive management
experience to Aileron. John’s leadership experience extends from
operations and R&D to commercial launch, venture funding,
secondary public offerings and corporate partnering. He is the
Founder and President of JPL Biotech, a biopharma/pharmaceutical
consulting firm, and serves on the Board of Directors of Pacira
Pharmaceuticals, Inc. He was CEO and Director of HemaQuest
Pharmaceuticals, a private biotech, and Favrille, Inc., a publicly
listed biotech. Previously, Dr. Longenecker was President and Chief
Operating Officer of DepoTech, and oversaw its acquisition by
SkyePharma (predecessor to Pacira), where he served as President of
U.S. Operations. Dr. Longenecker received a B.S. from Purdue
University and a Ph.D. in Biochemistry from The Australian National
University. He did his post-doctoral fellowship at Stanford
University.
About ALRN-6924ALRN-6924 is a first-in-class
product candidate designed to reactivate wild type p53 tumor
suppression by disrupting the interactions between the two primary
p53 suppressor proteins, MDMX and MDM2. Aileron believes ALRN-6924
is the first and only product candidate in clinical development
that can equipotently bind to and disrupt the interaction of MDMX
and MDM2 with p53. Based on preclinical data and preliminary
evidence of safety and anti-tumor activity in its ongoing clinical
trials, there may be a significant opportunity to develop ALRN-6924
as a monotherapy or combination therapy for a wide variety of solid
and liquid tumors. ALRN-6924 is currently being evaluated in
multiple clinical trials for the treatment of acute myeloid
leukemia (AML), advanced myelodysplastic syndrome (MDS) and
peripheral T-cell lymphoma (PTCL). For information about its
clinical trials, please visit www.clinicaltrials.gov.
About AileronAileron is a clinical-stage
biopharmaceutical company advancing stapled peptides, a novel class
of therapeutics for cancers and other diseases. Stapled peptides
are chemically stabilized alpha-helical peptides that are modified
to improve their stability and cell penetrability while maintaining
high affinity for large protein surfaces. Our goal is to use our
proprietary stapled peptide drug platform to create first-in-class
therapeutics, like ALRN-6924, that may be able to address
historically undruggable targets and complex mechanisms that
underlie many diseases with high unmet medical need. Our platform
enables us to chemically stabilize and improve the performance and
activity of a broad range of alpha-helical peptides that we believe
can potentially activate and inhibit key cellular functions that
are otherwise difficult to target with existing drug technologies,
including small molecules and monoclonal antibodies. For more
information, visit www.aileronrx.com.
Forward-Looking Statements Statements in
this press release about Aileron's future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements about the company’s cash
forecast, the sufficiency of the Company’s cash resources and the
timing of clinical trial enrollments and data. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “potential,” “predict,” “project,”
“should,” “target,” “would” and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Actual results may differ materially from those indicated by
such forward-looking statements as a result of various important
factors, including whether Aileron’s cash resources will be
sufficient to fund its continuing operations for the periods and/or
trials anticipated; whether results obtained in preclinical studies
and clinical trials will be indicative of results obtained in
future clinical trials; whether Aileron’s product candidates will
advance through the clinical trial process on a timely basis, or at
all; whether the results of such trials will warrant submission for
approval from the United States Food and Drug
Administration or equivalent foreign regulatory agencies;
whether Aileron's product candidates will receive
approval from regulatory agencies on a timely basis or at all;
whether, if product candidates obtain approval, they will be
successfully distributed and marketed; and other factors discussed
in the "Risk Factors" section of Aileron's quarterly
report on Form 10-Q for the period ended March 31, 2018, filed
on May 9, 2018, and risks described in other filings that
Aileron may make with the Securities and Exchange Commission.
Any forward-looking statements contained in this press release
speak only as of the date hereof,
and Aileron specifically disclaims any obligation to
update any forward-looking statement, whether because of new
information, future events or otherwise.
Investors:Aileron TherapeuticsDon Dougherty,
CFO 617-995-0900ddougherty@aileronrx.com
Media: BMC CommunicationsBrad Miles,
646-513-3125bmiles@bmccommunications.com
Source: Aileron Therapeutics
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