AVEO Oncology Announces Appointment of David W. Crist as Vice President of Sales
AVEO Oncology (Nasdaq: AVEO) has appointed David Crist as Vice President of Sales. Mr. Crist is tasked with developing AVEO’s sales team in anticipation of the potential U.S. launch of tivozanib, a treatment for relapsed or refractory renal cell carcinoma. His extensive experience in oncology sales, including successful product launches, is expected to enhance AVEO’s commercial strategy. Tivozanib is already approved in the EU and is undergoing further development for the U.S. market.
- Appointment of David Crist as VP of Sales may strengthen AVEO's commercial strategy.
- Crist has over 20 years of experience in oncology sales, beneficial for tivozanib's launch.
- Dependence on FDA approval for tivozanib may pose risks.
- Concerns about continuity or experience gaps in the sales leadership during the transition.
BOSTON--(BUSINESS WIRE)--AVEO Oncology (Nasdaq: AVEO) today announced the appointment of David Crist as Vice President of Sales. In this role, Mr. Crist will be responsible for building out AVEO’s sales force in anticipation of the potential approval and launch of tivozanib, the Company’s next-generation vascular endothelial growth factor receptor tyrosine kinase inhibitor (VEGFR-TKI), as a treatment for relapsed or refractory renal cell carcinoma.
“We are excited to welcome David to the AVEO team as we continue to prepare for the potential commercial launch of tivozanib in the U.S.,” said Mike Ferraresso, senior vice president, business analytics and commercial operations of AVEO. “David’s proven track record of success and deep experience with the launch and growth of new oncology therapies will play an important role in the success of our commercial strategy and team. Our commercial team and I look forward to working closely with him throughout this process.”
“I am pleased to join AVEO during this transformational period for the Company, as it prepares for the potential launch of tivozanib in the U.S.,” said Mr. Crist. “I believe that tivozanib has the potential to be an important new treatment option for patients with relapsed or refractory renal cell carcinoma with what would be the first evidence-based roadmap for treatment decisions in the third-plus-line setting, including for patients receiving earlier-line immunotherapy. I look forward to working alongside this talented team as AVEO moves toward the potential commercialization of tivozanib in the U.S.”
Mr. Crist brings more than twenty years of oncology sales experience in both launch-stage and late-stage companies, building commercial organizations and developing high performing sales force teams. During his career, Mr. Crist held oncology-focused sales roles at several leading pharmaceutical companies including MGI (Molecular Genetics, Inc), Eisai, Sanofi Genzyme, GlaxoSmithKline and ARIAD Pharmaceuticals, where he led their sales organization in the successful relaunch of ICLUSIG® (ponatinib), which contributed to the acquisition of ARIAD by Takeda Oncology in 2017. Following the acquisition, he continued at Takeda to successfully launch ALUNBRIG® (brigatinib), which exceeded launch year and subsequent year forecasts nationally. Directly prior to joining AVEO, Mr. Crist served as general manager, hematology oncology U.S. franchise at argenx, a global immunology company, where he led commercial development for two of the company’s hematology and oncology compounds. Mr. Crist holds a B.S. from Florida State University.
About AVEO Pharmaceuticals, Inc.
AVEO is an oncology focused biopharmaceutical company committed to delivering medicines that provide a better life for cancer patients. AVEO’s strategy is to focus its resources toward development and commercialization of its product candidates in North America, while leveraging partnerships to support development and commercialization in other geographies. AVEO’s lead candidate, tivozanib is approved as FOTIVDA® in the European Union and other countries in the EUSA territory for the treatment of adult patients with advanced renal cell carcinoma. AVEO is working to develop and potentially commercialize tivozanib in the U.S. as a treatment for renal cell carcinoma and hepatocellular carcinoma. AVEO has previously reported promising early clinical data on ficlatuzumab (anti-HGF mAb) in head and neck cancer, acute myeloid leukemia and pancreatic cancer and is conducting a randomized Phase 2 confirmatory clinical trial of ficlatuzumab in head and neck cancer. AVEO’s earlier-stage pipeline includes several monoclonal antibodies in oncology development, including AV-203 (anti-ErbB3 mAb), AV-380 (anti-GDF15 mAb) and AV-353 (anti-Notch 3 mAb). AVEO is committed to creating an environment of diversity and inclusion as a foundation for innovation.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements of AVEO within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. The words “anticipate,” “believe,” “expect,” “hope,” “intend,” “may,” “plan,” “potential,” “could,” “should,” “would,” “seek,” “look forward,” “advance,” “goal,” “strategy,” or the negative of these terms or other similar expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: the potential for tivozanib as a treatment option for patients with advanced HCC or relapsed/refractory or advanced RCC; the potential efficacy, safety, and tolerability of tivozanib, both as a stand-alone drug candidate and in combination with immunotherapy; AVEO’s execution of its clinical and regulatory strategy for tivozanib; AVEO’s plans and strategies for current and future clinical trials of tivozanib, ficlatuzumab and AV-380 and for commercialization of tivozanib in the United States; and AVEO’s strategy, prospects, plans and objectives for its product candidates and for the Company generally. AVEO has based its expectations and estimates on assumptions that may prove to be incorrect. As a result, readers are cautioned not to place undue reliance on these expectations and estimates. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that AVEO makes due to a number of important factors, including risks relating to: whether the results of TIVO-3 are sufficient to obtain marketing approval for tivozanib in the U.S., which turns on the ability of AVEO to demonstrate to the satisfaction of the FDA the safety and efficacy of tivozanib based upon the findings of TIVO-3, including its data with respect to PFS, the rate of adverse events, OS and other information that the FDA may consider to be relevant to an approval determination; AVEO’s ability, and the ability of its licensees, to demonstrate to the satisfaction of applicable regulatory agencies such as the FDA the safety, efficacy and clinically meaningful benefit of AVEO’s product candidates, including, in particular, tivozanib and ficlatuzumab; and AVEO’s ability to enter into and maintain its third party collaboration and license agreements, and its ability, and the ability of its strategic partners, to achieve development and commercialization objectives under these arrangements. AVEO faces other risks relating to its business as well, including risks relating to the timing and costs of seeking and obtaining regulatory approval; AVEO’s and its collaborators’ ability to successfully enroll and complete clinical trials; AVEO’s ability to maintain compliance with regulatory requirements applicable to its product candidates; AVEO’s ability to obtain and maintain adequate protection for intellectual property rights relating to its product candidates; AVEO’s ability to successfully implement its strategic plans, including its ability to successfully launch and commercialize tivozanib if it may be approved for commercialization by the FDA; AVEO’s ability to raise the substantial additional funds required to achieve its goals, including those goals pertaining to the development and commercialization of tivozanib; unplanned capital requirements; AVEO’s ability to access future borrowings under the Hercules loan facility, which turns on the achievement of milestones related to the approval and commercialization of tivozanib in the U.S., which milestones may not be achieved; adverse general economic and industry conditions; the potential adverse effects of the COVID-19 pandemic on AVEO’s business continuity, financial condition, results of operations, liquidity and ability to successfully and timely enroll, complete and read-out data from its clinical trials; competitive factors; and those risks discussed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” included in AVEO’s quarterly and annual reports on file with the Securities and Exchange Commission (SEC) and in other filings that AVEO makes with the SEC. The forward-looking statements in this press release represent AVEO’s views as of the date of this press release, and subsequent events and developments may cause its views to change. While AVEO may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing AVEO's views as of any date other than the date of this press release.
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