Avalo Therapeutics Appoints Michael Heffernan as Chairman of the Board
Avalo Therapeutics (AVTX) has appointed Michael Heffernan as Chairman of the Board of Directors, succeeding Dr. Garry Neil, who will continue as Board member and CEO. The separation of Chairman and CEO roles comes as the company advances its pipeline of targeted therapies for immune-mediated diseases.
The company's lead candidate, AVTX-009, is currently in Phase 2 LOTUS trial for hidradenitis suppurativa (HS), with data readout expected next year. Heffernan brings extensive experience in building biopharmaceutical companies and executing successful exits, positioning him to help guide Avalo's growth strategy and potential indication expansion.
Avalo Therapeutics (AVTX) ha nominato Michael Heffernan come Presidente del Consiglio di Amministrazione, succedendo al Dr. Garry Neil, che continuerà a far parte del Consiglio e a ricoprire il ruolo di CEO. La separazione dei ruoli di Presidente e CEO avviene mentre l'azienda prosegue con il suo pipeline di terapie mirate per le malattie mediate dal sistema immunitario.
Il candidato principale dell'azienda, AVTX-009, è attualmente in fase di trial LOTUS di Fase 2 per l'iperidrosi suppurativa (HS), con i risultati attesi per il prossimo anno. Heffernan porta con sé una vasta esperienza nella costruzione di aziende biofarmaceutiche e nell'esecuzione di uscite di successo, posizionandosi per aiutare a guidare la strategia di crescita di Avalo e l'espansione delle potenziali indicazioni.
Avalo Therapeutics (AVTX) ha nombrado a Michael Heffernan como Presidente de la Junta Directiva, sucediendo al Dr. Garry Neil, quien continuará como miembro de la Junta y CEO. La separación de los roles de Presidente y CEO se produce mientras la empresa avanza en su cartera de terapias dirigidas para enfermedades mediadas por el sistema inmunológico.
El candidato principal de la empresa, AVTX-009, se encuentra actualmente en el ensayo LOTUS de Fase 2 para la hidradenitis supurativa (HS), con la lectura de datos esperada para el próximo año. Heffernan aporta una amplia experiencia en la construcción de empresas biofarmacéuticas y en la ejecución de salidas exitosas, posicionándose para ayudar a guiar la estrategia de crecimiento de Avalo y la posible expansión de indicaciones.
Avalo Therapeutics (AVTX)는 Michael Heffernan을 이사회 의장으로 임명했으며, 그는 Dr. Garry Neil의 뒤를 이어 이사회 멤버이자 CEO로 계속 활동합니다. 의장과 CEO 역할의 분리는 회사가 면역 매개 질환을 위한 표적 치료제 파이프라인을 발전시키는 가운데 이루어집니다.
회사의 주요 후보인 AVTX-009는 현재 2상 LOTUS 시험에 있으며, hidradenitis suppurativa (HS)에 대한 데이터 결과는 내년에 발표될 예정입니다. Heffernan은 생물 제약 회사를 구축하고 성공적인 퇴출을 실행한 광범위한 경험을 가지고 있으며, Avalo의 성장 전략과 잠재적 적응증 확대를 안내하는 데 도움을 줄 수 있는 위치에 있습니다.
Avalo Therapeutics (AVTX) a nommé Michael Heffernan en tant que Président du Conseil d'Administration, succédant au Dr. Garry Neil, qui continuera en tant que membre du Conseil et PDG. La séparation des rôles de Président et de PDG intervient alors que l'entreprise fait progresser son portefeuille de thérapies ciblées pour les maladies médiées par le système immunitaire.
Le candidat principal de l'entreprise, AVTX-009, est actuellement dans le cadre de l'
Avalo Therapeutics (AVTX) hat Michael Heffernan zum Vorsitzenden des Vorstands ernannt, der Dr. Garry Neil nachfolgt, der weiterhin Mitglied des Vorstands und CEO bleibt. Die Trennung der Rollen von Vorsitzendem und CEO erfolgt, während das Unternehmen sein Pipeline von zielgerichteten Therapien für immunvermittelte Erkrankungen vorantreibt.
Der Hauptkandidat des Unternehmens, AVTX-009, befindet sich derzeit in der Phase-2-LOTUS-Studie zur Hidradenitis suppurativa (HS), wobei die Datenveröffentlichung für das nächste Jahr erwartet wird. Heffernan bringt umfangreiche Erfahrung im Aufbau von biopharmazeutischen Unternehmen und in der Durchführung erfolgreicher Exits mit, was ihn in die Lage versetzt, Avalos Wachstumsstrategie und mögliche Indikationsausweitungen zu leiten.
- Separation of Chairman and CEO roles indicates corporate governance improvement
- New Chairman brings extensive experience in successful exits and building biotech companies
- Company has sufficient capital for LOTUS trial completion
- Phase 2 LOTUS trial results not expected until next year
WAYNE, Pa. and ROCKVILLE, Md., March 26, 2025 (GLOBE NEWSWIRE) -- Avalo Therapeutics, Inc. (Nasdaq: AVTX), a clinical-stage biotechnology company dedicated to treating immune dysregulation, today announced the appointment of Michael Heffernan as Chairman of the Board of Directors (“Board”). Mr. Heffernan will succeed Dr. Garry Neil as Chairman of the Board. Dr. Neil will continue as a Board member and Chief Executive Officer (CEO) of the Company.
“We are thrilled to welcome Michael to Avalo’s Board of Directors during this pivotal time in our Company’s growth,” said Dr. Garry Neil, CEO of Avalo Therapeutics. “Michael’s extensive experience in building and leading biopharmaceutical companies, executing successful exits, and driving shareholder value will be invaluable as we advance our pipeline of targeted therapies for immune-mediated diseases, including our lead candidate, AVTX-009, currently in the Phase 2 LOTUS trial for hidradenitis suppurativa (HS). Additionally, I believe it is the right time to separate the role of Chairman and CEO as the Company continues to mature.”
“I am honored to assume the role of Chairman as Avalo continues to advance its pipeline and considers indication expansion,” said Mr. Heffernan. “Avalo is well-positioned for success with a strong management team, a promising mechanism of action in HS, and sufficient capital to achieve a potentially transformative data readout from the LOTUS trial next year. I look forward to working closely with Garry, the leadership team, and fellow board members to help guide the Company’s future growth and strategic direction.”
About Michael Heffernan
Michael Heffernan is a seasoned biopharmaceutical executive and entrepreneur with over 30 years of experience in the industry. He is the Founder and Chairman of Collegium Pharmaceutical (Nasdaq: COLL) and has previously served as its President and CEO. Mr. Heffernan has built and led multiple companies through numerous financings and successful exits. He has also held leadership positions at Onset Dermatologics, Clinical Studies Ltd., and Eli Lilly and Company. Currently, Mr. Heffernan serves as Chairman of the Board at Collegium, NMD Pharma and AAVantgarde Bio, and is a board member at Biohaven (NYSE: BHVN), Trevi Therapeutics (Nasdaq: TRVI), and K36 Therapeutics. He holds a Bachelor of Science in Pharmacy from the University of Connecticut and is a registered pharmacist.
About Avalo Therapeutics
Avalo Therapeutics is a clinical stage biotechnology company focused on the treatment of immune dysregulation. Avalo’s lead asset is AVTX-009, an anti-IL-1β mAb, targeting inflammatory diseases. For more information about Avalo, please visit www.avalotx.com.
About AVTX-009
AVTX-009 is a humanized monoclonal antibody (IgG4) that binds to interleukin-1β (IL-1β) with high affinity and neutralizes its activity. IL-1β is a central driver in the inflammatory process. Overproduction or dysregulation of IL-1β is implicated in many autoimmune and inflammatory diseases. IL-1β is a major, validated target for therapeutic intervention. There is evidence that inhibition of IL-1β could be effective in hidradenitis suppurativa and a variety of inflammatory diseases in dermatology, gastroenterology, and rheumatology.
Forward-Looking Statements
This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Avalo’s control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Avalo’s plans, objectives, projections, expectations and intentions and other statements identified by words such as “projects,” “may,” “might,” “will,” “could,” “would,” “should,” “continue,” “seeks,” “aims,” “predicts,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential,” or similar expressions (including their use in the negative), or by discussions of future matters such as: the intended use of the proceeds from the private placement; integration of AVTX-009 into our operations, including trial design and IND preparation and filing for the planned Phase 2 trial; drug development costs, timing of trials and trial results, and other risks, particularly for AVTX-009, including reliance on investigators and enrollment of patients in clinical trials; reliance on key personnel; regulatory risks; general economic and market risks and uncertainties, including those caused the war in Ukraine and the Middle East; and those other risks detailed in Avalo’s filings with the Securities and Exchange Commission, available at www.sec.gov. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Avalo expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Avalo’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
For media and investor inquiries
Christopher Sullivan, CFO
Avalo Therapeutics, Inc.
ir@avalotx.com
410-803-6793
or
Meru Advisors
Lauren Glaser
lglaser@meruadvisors.com
FAQ
What is the significance of Michael Heffernan's appointment as AVTX Chairman?
When is AVTX expecting data readout from the LOTUS trial?
What is the current status of AVTX-009 clinical trials?
Why did Avalo Therapeutics separate the Chairman and CEO roles?
