RED
BANK, N.J., Jan. 5, 2023
/PRNewswire/ -- Provention Bio, Inc. (Nasdaq: PRVB) (the
"Company"), a biopharmaceutical company dedicated to intercepting
and preventing immune-mediated diseases, today announced the
appointment of Rita Jain, M.D., to
the Company's Board of Directors. Dr. Jain is a biotechnology
industry veteran with more than two decades of experience in
pharmaceutical development across her time with ChemoCentryx, Inc.,
AbbVie, Abbott Laboratories, and G.D. Searle and Co. prior to the
latter's merger with Pharmacia & Upjohn and subsequent
acquisition by Pfizer.
"Rita brings extensive drug development experience to Provention
Bio across a wide range of therapeutic areas including autoimmune
and metabolic diseases," said Wayne
Pisano, Chairman of the Board of Provention Bio. "Rita's
demonstrated track record in leading corporate strategy formulation
and the execution of global, commercial programs makes her a strong
addition as we look to expand the experience of our Board to
support this new, exciting chapter in the Company's evolution. We
look forward to Rita's governance, advice and counsel as we advance
the commercial launch of TZIELD™ (teplizumab-mzwv) in the U.S. and
move towards the establishment of a global franchise."
"The FDA approval and U.S. commercial launch of TZIELD™ is a
paradigm-shifting moment for people who may develop type 1 diabetes
and I am truly excited to be a part of this journey," said Dr.
Jain. "It is an honor to join Provention's Board and partner with
the leadership team in support of the Company's mission to
intercept and prevent life-threatening and debilitating autoimmune
diseases."
Dr. Jain, a board-certified rheumatologist, currently serves as
a member of the supervisory board of AM Pharma and previously
served on the Board of Directors of ChemoCentryx, Inc. until its
acquisition by Amgen. She previously served as Executive Vice
President, Chief Medical Officer of ChemoCentryx, Inc., Chief
Medical Officer of Immunovant, Inc. and prior to that, Senior Vice
President and Chief Medical Officer of Akebia Therapeutics, Inc.
Before joining Akebia, Dr. Jain served as Vice President of Men's
and Women's Health and Metabolic Development at AbbVie, Inc., where
she was responsible for leading the design and execution of
multiple late-stage programs, including for Orilissa®
and Oriahnn®, and in various leadership roles at Abbott
Laboratories, including Divisional Vice President. She has also led
programs across a diverse set of therapeutic areas, including
inflammation, pain, immunology, and nephrology. Prior to her time
at Abbott, she held management positions in the Arthritis,
Inflammation and Pain Group at G.D. Searle, which was acquired by
Pharmacia and, later, Pfizer. Earlier in her career, Dr. Jain
served as a faculty member at North Shore University Hospital in
New York. Dr. Jain received her
M.D. from the State University of New
York at Stony Brook School of Medicine and her B.S. in
Biology from Long Island University/C.W.
Post.
About Provention Bio, Inc.
Provention Bio, Inc. (Nasdaq: PRVB) is a commercial-stage
biopharmaceutical company focused on advancing the development and
commercialization of investigational therapies that may intercept
and prevent debilitating and life-threatening immune-mediated
diseases. The Company's pipeline includes clinical-stage product
candidates that have demonstrated in pre-clinical or clinical
studies proof-of-mechanism and/or proof-of-concept in autoimmune
diseases, including T1D, celiac disease and lupus.
Visit www.proventionbio.com for more information and
follow us on Twitter: @ProventionBio.
Internet Posting of Information:
Provention Bio, Inc. uses its
website, www.proventionbio.com, as a means of disclosing
material nonpublic information and for complying with its
disclosure obligations under Regulation F.D. Such disclosures will
be included on the Company's website in the "News" section.
Accordingly, investors should monitor this portion of the Company's
website, in addition to following its press
releases, SEC filings and public conference calls and
webcasts.
Forward-Looking Statements
Certain statements in this press release are forward-looking,
including but not limited to, statements relating to the
contributions of the Company's new director and the commercial
launch of TZIELD™. These statements may be identified by the use of
forward-looking words and phrases such as "look forward" and
"advance" among others. These forward-looking statements are based
on the Company'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, failure to maintain FDA approval for TZIELD™; the
planned commercial launch in the US for TZIELD™ may not be
successful in part or at all for various reasons including the
actual market size and drug supply needed may not be consistent
with the company's expectations and its executed commercial
readiness plans; the degree to which TZIELD™ is accepted by
patients and prescribed by physicians; the efficiency of our
manufacturing, sales, distribution and specialty pharmacy network
in getting TZIELD™ to the market and future economic, competitive,
reimbursement and regulatory conditions that could negatively
impact the commercial launch of TZIELD™; the post-marketing
commitment studies for TZIELD™ may not yield data consistent with
prior results; we may not be able to execute on our business plans
including meeting our expected or planned regulatory milestones and
timelines, clinical development plans and successfully bringing our
product candidates to market, for various reasons, including
factors outside of the Company's control, such as possible
limitations of Company financial and other resources, competition,
manufacturing limitations that may not be anticipated or resolved
for in a timely manner or at all, and regulatory, court or agency
decisions, such as decisions by the United States Patent and
Trademark Office with respect to patents that cover our product
candidates, the potential for noncompliance with FDA regulations;
the potential impacts of COVID-19 on our business and financial
results; changes in law, regulations, or interpretations and
enforcement of regulatory guidance; uncertainties of patent
protection and litigation; competition and the risks listed under
"Risk Factors" in the Company's quarterly report on Form 10-Q for
the quarter ended September 30, 2022
and any subsequent filings with the Securities and Exchange
Commission. 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,
whether as a result of new information, future developments or
otherwise, except as may be required by applicable law. The
information set forth herein speaks only as of the date hereof.
Investor Contact:
Kristen Kelleher, Manager,
Investor Relations
investorrelations@proventionbio.com
Media Contact:
Kaelan Hollon, VP, Corporate
Communications
khollon@proventionbio.com
202-421-4921
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SOURCE Provention Bio, Inc.