BOTHELL, Wash., June 07, 2018 (GLOBE NEWSWIRE) -- Alder BioPharmaceuticals, Inc. ALDR a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, today named biotech industry veteran Robert W. Azelby president and chief executive officer of Alder, effective June 13, 2018. He also will serve on the company's board of directors.
Mr. Azelby joins Alder from Juno Therapeutics, Inc., where he served as executive vice president and chief commercial officer. He was responsible for the development and implementation of Juno's CAR-T commercial strategy. Mr. Azelby was a member of Juno's executive management team and helped guide the organization through rapid growth and ultimately, to a $9 billion acquisition by Celgene Corporation. He succeeds Paul B. Cleveland, who has been acting as Alder's interim president and chief executive officer. Mr. Cleveland will continue to serve on the company's board of directors.
"We are thrilled to have Bob join Alder at this key stage in the company's history. He is a seasoned leader who brings significant operational experience and a strong track record in both large and small biopharmaceutical environments, and his skills will be of great value as we progress our CGRP inhibitor, eptinezumab, towards approval and commercialization for migraine prevention," said Mr. Cleveland. "We look forward to Bob's leadership as we continue to deliver on our commitment to transform the treatment paradigm for migraine prevention to benefit the millions of underserved patients living with migraine and create value for our shareholders."
"Eptinezumab has the potential to make a significant difference in the lives of people dealing with the debilitating effects of migraine," Mr. Azelby said. "I am excited to join Alder at this pivotal time for both the company and the migraine community."
Mr. Azelby brings over 26 years of biopharmaceutical industry expertise. Prior to joining Juno in 2015, Mr. Azelby had a 15-year career of building high-performing teams and creating strong value at Amgen Inc. He joined the company in 2000 in sales and marketing business development and rapidly advanced in the organization where he had nine different roles including an international assignment all with increasing responsibility. In 2012, Mr. Azelby was promoted to vice president and general manager of Amgen's U.S. oncology business, where he was responsible for a $6.5 billion, ten-product portfolio and a team of over 700 people.
Mr. Azelby began his career in the industry as a sales representative in Philadelphia for the former British drug company Glaxo Welcome PLC. He then worked for Oxford Health Plans, a subsidiary of the healthcare organization Oxford Health, and the medical risk management start-up Avandel Inc. before joining Amgen.
Azelby holds a bachelor's degree in economics and religious studies from the University of Virginia and earned an MBA from Harvard University.
About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals is a clinical-stage biopharmaceutical company focused on transforming the migraine treatment paradigm through the discovery, development and commercialization of novel therapeutic antibodies. Alder's lead product candidate, eptinezumab, is a pivotal-stage monoclonal antibody (mAb) that inhibits calcitonin gene-related peptide (CGRP). Eptinezumab is currently in late-stage clinical development and, if approved, will be the first-to-market infusion therapy for migraine prevention. Alder is also developing ALD1910, a preclinical mAb that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38) for migraine prevention. For more information, visit www.alderbio.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, without limitation, statements relating to: Alder's expectations regarding the appointment of Mr. Azelby; the continued development and clinical, therapeutic and commercial potential of eptinezumab; progress towards the approval and commercialization of eptinezumab; and Alder's commitment to transform the treatment paradigm for migraine prevention and create value for shareholders. Words such as "will," "towards," "look forward," "continue," "deliver," "commitment," "create," "potential," or other similar expressions, identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. The forward-looking statements in this press release are based upon Alder's current plans, assumptions, beliefs, expectations, estimates and projections, and involve substantial risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements due to these risks and uncertainties as well as other factors, which include, without limitation: risks related to the potential failure of eptinezumab to demonstrate safety and efficacy in clinical testing; Alder's ability to conduct clinical trials and studies of eptinezumab sufficient to achieve a positive completion; the availability of data at the expected times; the clinical, therapeutic and commercial value of eptinezumab; risks and uncertainties related to regulatory application, review and approval processes and Alder's compliance with applicable legal and regulatory requirements; risks and uncertainties relating to the manufacture of eptinezumab; Alder's ability to obtain and protect intellectual property rights, and operate without infringing on the intellectual property rights of others; the uncertain timing and level of expenses associated with Alder's development and commercialization activities; the sufficiency of Alder's capital and other resources; market competition; changes in economic and business conditions; and other factors discussed under the caption "Risk Factors" in Alder's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2018, which was filed with the Securities and Exchange Commission (SEC) on May 8, 2018, and is available on the SEC's website at www.sec.gov. Additional information will also be set forth in Alder's other reports and filings it will make with the SEC from time to time. The forward-looking statements made in this press release speak only as of the date of this press release. Alder expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Alder's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Investor Relations Contact:
Ashwin Agarwal
Vice President, Corporate Strategy
Alder Biopharmaceuticals, Inc.
425-408-8567
aagarwal@alderbio.com
Michael Schaffzin
Stern Investor Relations, Inc.
212-362-1200
michael@sternir.com
Media Contact:
Ashley Cadle
TogoRun
310-463-0143
a.cadle@togorun.com
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