Endocyte, Inc.

SAN DIEGO--( BUSINESS WIRE )-- Avenzo Therapeutics, Inc . (“Avenzo”), a clinical-stage biotechnology company developing next-generation oncology therapies for patients, today announced the appointment of Patrick Machado, J.D. to its board of directors. Mr. Machado has more than 20 years of biotech management and board experience for companies across the U.S., Canada, Europe and Australia. “ Pat has extensive experience leading and working with biotech companies around the world and I am excited to welcome him to our board,” said Athena Countouriotis, M.D., Co-founder, President and CEO of Avenzo. “ His operational expertise and strategic insights will be beneficial as we continue to build and advance a pipeline of oncology therapies to help patients fight cancers with a high unmet medical need.” Mr. Machado co-founded Medivation, Inc., where he served as its chief business and financial officer until 2014 and then as a member of Medivation’s board of directors until its acquisition by Pfizer in 2016. He currently serves as chairman of the board for Prota Therapeutics and Adverum Biotechnologies and as an independent director on the boards of ACELYRIN, Alumis, Arcus Biosciences and Xenon Pharmaceuticals. Mr. Machado previously served on the board of directors for Turning Point Therapeutics, Principia Biopharma, Therachon, and Endocyte prior to their acquisitions. He earned a J.D. from Harvard Law School and a B.A. and B.S. in German and Economics, respectively, from Santa Clara University. “ I am honored to become a member of the Avenzo board of directors,” said Patrick Machado, J.D. “ Avenzo’s executive team has a proven track record and deep expertise in oncology drug development. I look forward to working with my fellow board members and the executive team to advance the company’s growth and potentially bring new treatment options to cancer patients.” About Avenzo Therapeutics Avenzo Therapeutics is a clinical-stage biotechnology company focused on developing next-generation oncology therapies for patients. The company’s lead drug candidate, AVZO-021, is a novel, highly potent and selective inhibitor of CDK2, a key enzyme involved in cell cycle regulation. AVZO-021 is being studied in a Phase 1 study in the U.S. for the treatment of advanced solid tumors, and in combinations in HR+/HER2-negative metastatic breast cancer. Avenzo is headquartered in San Diego, California. For more information, visit us at www.avenzotx.com or on LinkedIn .

In an effort to protect the patent rights for radiation ligand therapy, Novartis has filed a lawsuit against Eli Lilly and its partner Lantheus, alleging infringement of the patent rights for the prostate cancer drug Pluvicto. As Novartis expands into radiopharmaceuticals, the Swiss pharmaceutical giant has stepped up its legal offensive against rivals. In a series of lawsuits filed during the year, Novartis accused several competitors of infringing patents for its radiation ligand therapies, Pluvicto and Lutathera. The lawsuits involve Eli Lilly, its recently acquired Point Biopharma and its partner Lantheus, as well as Curium Pharma in Europe. Novartis is working to increase Pluvicto's market share in prostate cancer treatment and Lutathera's market share in neuroendocrine tumor treatment. Pluvicto achieved sales of $1.04 billion in the first three quarters of 2024, successfully surpassing major sales milestones. Lutathera's sales continued to grow at a double-digit rate, which could be attributed to increased adoption of its first-line applications. In a lawsuit filed in the U.S. District Court for the Southern District of Indiana, Novartis, in conjunction with Purdue Research Foundation, alleges that Point's PNT2002 infringes U.S. Patent No. 10,624,970. The patent, which relates to PSMA binding couplings and related pharmaceutical preparations and methods for the treatment of prostate cancer, was granted to Purdue in 2020 and subsequently to Endocyte, a subsidiary of Novartis. Both PNT2002 and Pluvicto target PSMA positive prostate cancer and will compete directly with each other. PNT2002 is a key asset in Lilly's $1.4 billion acquisition of Point last year and part of a potentially $2 billion strategic partnership between Point and Lantheus two years ago.

The Nomination Committee of Swedish Orphan Biovitrum AB (publ) (Sobi®) proposes that David Meek is elected as new Chair of the Board of Directors of Sobi. Sobi intends to convene an Extraordinary General Meeting to be held in December 2024. STOCKHOLM, Nov. 4, 2024 /PRNewswire/ -- David Meek currently serves as a member of the Board of Directors of Cullinan Therapeutics, uniQure (Chair) and the University of Southern California School of Pharmacy and Pharmaceutical Sciences. He also has previous experience from board work in listed pharmaceutical companies and US and European trade associations. David Meek has extensive experience from senior positions in the international pharmaceutical industry. Most recently he served as Chief Executive Officer and Board Director of Mirati Therapeutics Inc and prior to that as Chief Executive Officer of FerGene Inc and Ipsen SA. He has also held senior executive positions at Baxalta Inc, Endocyte Inc, Novartis Pharmaceuticals and Johnson & Johnson. Annette Clancy has informed the Nomination Committee that she will not be available for re-election as Chair or ordinary member of the Board of Directors at the Annual General Meeting 2025. However, she will remain an ordinary member of the Board until that time. "We are pleased to propose David Meek as the new Chair of the Board of Directors of Sobi. David has a solid experience from both management and board work in the international pharmaceutical industry. The Nomination Committee would like to express our sincere gratitude to Annette for her invaluable contribution during her ten years in the Board of Directors of Sobi, and especially for her contribution as Chair of the Board of Directors during the past year. With short notice, Annette accepted the role as the Chair of Sobi following the sudden resignation of the former Chair due to health reasons. She stepped up in a difficult situation and has steered the company very successfully over the last year, says Daniel Nodhäll, Chair of the Nomination Committee. Sobi intends to convene an Extraordinary General Meeting to be held in December 2024. If the Extraordinary General Meeting resolves in favour of the Nomination Committee's proposal, the Board of Directors will thereafter consist of the following members elected by a General Meeting: David Meek (Chair), Annette Clancy, Christophe Bourdon, Zlatko Rihter, Helena Saxon, Staffan Schüberg, Filippa Stenberg and Anders Ullman. The Nomination Committee of Sobi consists of Daniel Nodhäll (Chair) appointed by Investor AB, Annette Clancy (Chair of the Board), Thomas Ehlin appointed by the Fourth Swedish National Pension Fund and Anders Hansson appointed by AMF - Tjänstepension och Fonder. The Nomination Committee's complete proposals will be presented well in advance of the Extraordinary General Meeting. Sobi Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia and Australia. In 2023, revenue amounted to SEK 22.1 billion. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn. Contacts For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here. This information is information that Sobi is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 4 November 2024 at 21:00 CET. Gerard Tobin Head of Investor Relations +41 79 286 28 83 This information was brought to you by Cision The following files are available for download: WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED