OLDWICK, N.J., Jan. 8, 2020 /PRNewswire/ -- Provention Bio,
Inc. (Nasdaq: PRVB), a clinical stage biopharmaceutical company
dedicated to intercepting and preventing immune-mediated diseases,
today announced the appointment of Jason Hoitt as Chief
Commercial Officer. Mr. Hoitt brings 18 years of commercial
experience in the biotechnology sector, most recently serving as
Chief Commercial Officer at Dova Pharmaceuticals (recently acquired
by Swedish Orphan Biovitrum AB, or Sobi). As Chief Commercial
Officer and a member of Provention's senior leadership team, Mr.
Hoitt will be responsible for the development and execution of
Provention's global commercial strategy for PRV-031
(teplizumab).
"We welcome Jason to our executive leadership team as we
continue to advance PRV-031 (teplizumab) toward the market, begin
to build our commercial capabilities, and continue to evaluate
potential partnerships for all indications and geographies,"
stated Ashleigh Palmer, CEO of Provention Bio. "Jason's
extensive commercial experience, including the planning,
preparation and execution of product launches in rare diseases and
nascent markets, will be critical as we work to bring teplizumab to
type one diabetes (T1D) patients and at-risk individuals and, in
parallel, advance our business development efforts for
teplizumab."
"As a result of the ground-breaking results of the 'At-Risk'
study published in the New England Journal of Medicine (NEJM) in
June 2019, Provention Bio has rapidly
transitioned from a development-stage start-up to a
pre-commercialization biopharmaceutical company preparing to launch
its Breakthrough Therapy Designation lead program with the
potential to disrupt and transform the T1D landscape," said Mr.
Hoitt. "I look forward to working with our leadership team to
deliver on the company's mission to commercialize teplizumab, which
the NEJM study showed can, by way of a single 14-day course of
therapy, delay the onset of insulin-dependent T1D in at-risk
individuals by a median of at least two years."
Mr. Hoitt joined Dova Pharmaceuticals in 2018 as Chief
Commercial Officer and led all commercial efforts including the
pre-launch and launch strategy and execution for
DOPTELET® (avatrombopag) targeting
chronic immune thrombocytopenia. Prior to Dova Pharmacetucials, Mr.
Hoitt was a member of the commercial leadership team at Insmed
Incorporated, serving as a Vice President and Head of Sales. Mr.
Hoitt also held sales, marketing and medical affairs leadership
roles at Sarepta Therapeutics, Vertex Pharmaceuticals and Gilead
Sciences. Mr. Hoitt has been instrumental in the launches and
success of DOPTELET (Dova), Arikayce (Insmed), Exondys 51
(Sarepta), and Incivek (Vertex). Mr. Hoitt holds a B.A. from
the College of the Holy Cross.
About Provention Bio, Inc.
Provention Bio, Inc. (Nasdaq: PRVB) is a clinical-stage
biopharmaceutical company leveraging a transformational drug
development strategy that is focused on the prevention or
interception of immune-mediated disease. Provention's mission
is to in-license, transform and develop therapeutic candidates
targeting the high morbidity, mortality and escalating costs of
autoimmune and inflammatory diseases including: type 1 diabetes
(T1D), celiac disease and lupus. Provention's diversified portfolio
includes advanced-stage product development candidates that have
undergone clinical testing by other companies.
Forward Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements related to timing of submission of
the BLA. These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimate," "expect," and "intend," among others. These
forward-looking statements are based on Provention's current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, risks related to
failure to obtain FDA approvals or clearances and noncompliance
with FDA regulations; uncertainties of patent protection and
litigation; limited research and development efforts and dependence
upon third parties; substantial competition; our need for
additional financing and the risks listed under "Risk factors" in
our annual report on Form 10-K for the year ended December 31,
2018 and any subsequent filings with the Securities and
Exchange Commission (SEC). As with any pharmaceutical under
development, there are significant risks in the development,
regulatory approval and commercialization of new products.
Provention does not undertake an obligation to update or revise any
forward-looking statement. The information set forth herein speaks
only as of the date hereof.
Investors:
Sam Martin,
Argot Partners
sam@argotpartners.com
212-600-1902
Media:
David Rosen, Argot Partners
david.rosen@argotpartners.com
212-600-1902
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SOURCE Provention Bio, Inc.