Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology
company creating a new class of drugs based on targeted protein
degradation, today announced the appointment of Noah Berkowitz,
M.D., Ph.D., to the role of Chief Medical Officer and a member of
the Executive Committee reporting to President and Chief Executive
Officer John Houston, Ph.D. Effective today, Dr. Berkowitz will
lead the ongoing clinical development of Arvinas’ PROTAC® protein
degrader programs in oncology and neuroscience.
“We are thrilled to have Dr. Berkowitz join Arvinas as we
continue advancing multiple programs with the goal of improving the
lives of patients with serious diseases,” said John Houston, Ph.D.,
Chairperson, President and Chief Executive Officer at Arvinas.
“Noah’s vision, expertise, and proven track record in designing and
launching successful clinical programs across all stages of
clinical development complement our rapidly advancing portfolio of
novel PROTAC protein degraders. His leadership and experience will
be invaluable as we approach our first Phase 3 data readout and
continue progressing multiple ongoing and planned clinical-stage
programs.”
Dr. Berkowitz has more than 20 years of experience in advancing
programs through early and late stages of development, with proven
ability in leading clinical development, regulatory, and medical
affairs. He has led multidisciplinary teams and has extensive
knowledge of clinical trial design and execution. Dr. Berkowitz
joins Arvinas from Bristol-Myers Squibb (BMS), where he was Senior
Vice President, Development Unit Head, Hematology. While at BMS,
Dr. Berkowitz’s teams achieved initial or subsequent global
indications for Abecma®, Breyanzi®, Reblozyl®, Onureg®, and
Inrebic®, managed development life cycles for Revlimid®, Pomalyst®,
and Sprycel®, and initiated and/or designed registration trials for
iberdomide, mezigdomide, and alnuctamab. Prior to BMS, Dr.
Berkowitz held roles of increasing responsibility in the areas of
oncology, rare diseases, and hematology at Novartis, most recently
as Vice President and Clinical Development Head for Hematology. Dr.
Berkowitz earned his M.D. and Ph.D. from Columbia University and
trained in medical oncology at the National Cancer Institute.
“Arvinas is the leader in targeted protein degradation and is on
the cusp of its first pivotal data, an important step in
potentially bringing an innovative therapeutic approach to patients
with serious diseases,” said Dr. Berkowitz. “Arvinas’ progress over
the last several years is impressive and I look forward to working
with my colleagues, including the strong leadership team at
Arvinas, as we prepare for many important upcoming clinical
milestones ahead.”
The Company also announced that Ron Peck, M.D., who was Chief
Medical Officer since joining Arvinas in mid-2019, will be leaving
to pursue other opportunities.
“In less than five years, Ron built robust clinical development
and medical affairs organizations, enabling the planning and
initiation of multiple clinical trials across our oncology and
neuroscience portfolios,” continued Dr. Houston. “Under Ron’s
leadership and in partnership with Pfizer, vepdegestrant has
advanced from the start of Phase 1 to multiple ongoing and planned
Phase 3 studies in advanced breast cancer. Ron’s teams also
progressed our androgen receptor programs, with ARV-766 moving
towards Phase 3 initiation, and initiated human dosing of ARV-102,
our neuroscience program targeting LRRK2,” said Dr. Houston. “We
thank Ron for his tremendous efforts and take confidence in knowing
that Dr. Berkowitz is inheriting a high-performing
organization.”
In connection with the commencement of Dr. Berkowitz’s
employment, Arvinas granted Dr. Berkowitz an option to purchase
93,879 shares of common stock and a restricted stock unit award
with respect to 63,452 shares of common stock on March 18, 2024, as
an inducement material to entering into employment with Arvinas.
The option and restricted stock units were granted in accordance
with Nasdaq Listing Rule 5635(c)(4) and not pursuant to Arvinas’
stock incentive plan.
The option has a 10-year term and an exercise price of $42.60
per share, which is equal to the closing price per share of
Arvinas’ common stock on the grant date. The option vests over four
years, with 25% of the original number of shares underlying the
option vesting on the one-year anniversary of the date of grant and
1/48th of the original number of shares vesting monthly thereafter,
and the restricted stock unit award vests in four equal
installments on each one-year anniversary of Dr. Berkowitz’s
employment start date until the fourth anniversary of Dr.
Berkowitz’s start date, subject to his continued service with
Arvinas through the applicable vesting dates.
About ArvinasArvinas is a clinical-stage
biotechnology company dedicated to improving the lives of patients
suffering from debilitating and life-threatening diseases through
the discovery, development, and commercialization of therapies that
degrade disease-causing proteins. Arvinas uses its proprietary
PROTAC® Discovery Engine platform to engineer proteolysis
targeting chimeras, or PROTAC® targeted protein degraders,
that are designed to harness the body’s own natural protein
disposal system to selectively and efficiently degrade and remove
disease-causing proteins. In addition to its robust preclinical
pipeline of PROTAC protein degraders against validated and
“undruggable” targets, the company has four investigational
clinical-stage programs: vepdegestrant (ARV-471) for the treatment
of patients with locally advanced or metastatic ER+/HER2- breast
cancer; ARV-766 and bavdegalutamide for the treatment of men with
metastatic castration-resistant prostate cancer; and ARV-102 for
the treatment of patients with neurodegenerative
disorders. For more information,
visit www.arvinas.com.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995 that involve
substantial risks and uncertainties, including statements with
respect to Arvinas’ development plans; the anticipated data readout
for Arvinas’ first Phase 3 clinical trial with vepdegestrant
(ARV-471); the potential, pending regulatory approval, for
vepdegestrant to address an area of significant unmet need and
offer patients an innovative therapeutic approach; and the
potential advantages and therapeutic benefits of vepdegestrant
(ARV-471). All statements, other than statements of historical
facts, contained in this press release, including statements
regarding Arvinas’ strategy, future operations, prospects, plans
and objectives of management, are forward-looking statements. The
words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“may,” “might,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words.
Arvinas may not actually achieve the plans, intentions or
expectations disclosed in these forward-looking statements, and you
should not place undue reliance on such forward-looking statements.
Actual results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements Arvinas makes as a result of various risks and
uncertainties, including but not limited to: Arvinas’ and Pfizer,
Inc.’s (“Pfizer”) performance of the respective obligations with
respect to Arvinas’ collaboration with Pfizer; whether Arvinas and
Pfizer will be able to successfully conduct and complete clinical
development for vepdegestrant (ARV-471); whether Arvinas will be
able to successfully conduct and complete development for its other
product candidates, including ARV-766, and including whether
Arvinas initiates and completes clinical trials for its product
candidates and receive results from its clinical trials on its
expected timelines or at all; whether Arvinas and Pfizer, as
appropriate, will be able to obtain marketing approval for and
commercialize vepdegestrant (ARV-471), ARV-766 and other product
candidates on current timelines or at all; Arvinas’ ability to
protect its intellectual property portfolio; whether Arvinas’ cash
and cash equivalent resources will be sufficient to fund its
foreseeable and unforeseeable operating expenses and capital
expenditure requirements; and other important factors discussed in
the “Risk Factors” section of Arvinas’ Annual Report on Form 10-K
for the year ended December 31, 2023 and subsequent other reports
on file with the U.S. Securities and Exchange Commission. The
forward-looking statements contained in this press release reflect
Arvinas’ current views with respect to future events, and Arvinas
assumes no obligation to update any forward-looking statements,
except as required by applicable law. These forward-looking
statements should not be relied upon as representing Arvinas’ views
as of any date subsequent to the date of this release.
Contacts
Investors:Jeff Boyle+1 (347)
247-5089Jeff.Boyle@arvinas.com
Media:Maurissa Messier+1 (908)
208-9254Maurissa.messier-c@arvinas.com
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