Evelo Biosciences Announces Appointment of Mark Plinio as Chief Commercial Officer
Evelo Biosciences (Nasdaq:EVLO) announced the appointment of Mark Plinio as Chief Commercial Officer, effective June 14, 2021. Plinio brings extensive experience from Ironwood Pharmaceuticals and Novartis where he managed successful product launches. His leadership is expected to play a critical role in advancing Evelo's SINTAX medicines and building its commercial capabilities as the company develops products like EDP1815 for inflammatory conditions. Evelo aims to improve patient care through its innovative approach to therapeutics.
- Appointment of Mark Plinio as Chief Commercial Officer is expected to enhance commercial strategy.
- Plinio's previous experience includes successful launches at Ironwood Pharmaceuticals and Novartis.
- Focus on building commercial capabilities aligns with Evelo's goal of becoming a multi-product company.
- Ongoing need for funding as the company is currently not profitable.
- Risks related to lengthy and uncertain clinical drug development processes.
- Company faces potential challenges in manufacturing and marketing its products.
CAMBRIDGE, Mass., June 01, 2021 (GLOBE NEWSWIRE) -- Evelo Biosciences, Inc. (Nasdaq:EVLO), a clinical stage biotechnology company developing a new modality of orally delivered medicines, today announced the appointment of Mark Plinio as Chief Commercial Officer, effective June 14, 2021. Mr. Plinio brings significant pharmaceutical sales and marketing leadership to Evelo, including experience building and managing blockbuster brands through all stages of commercialization.
“We are pleased to welcome Mark to Evelo as we look forward to key milestones across our broad portfolio of SINTAX medicines, and continue building our team for the future,” said Simba Gill, Ph.D., Chief Executive Officer of Evelo. “Mark’s leadership and broad experience launching blockbuster products will be essential as we build the late-stage development and commercial capabilities needed to become a multi-product company delivering on the full promise of our therapies to patients around the world.”
Mr. Plinio joins Evelo from Ironwood Pharmaceuticals, where he served as Chief Commercial Officer and Senior Vice President, Marketing and Sales, and was responsible for managing the development and execution of U.S. and global commercial strategic plans to advance the Company’s gastroenterology-focused portfolio. Prior to joining Ironwood, Mr. Plinio spent nearly two decades at Novartis Pharmaceuticals in roles of increasing responsibility in Legal, Marketing, and Sales, including serving as Head of Dermatology and Rheumatology Marketing, Cosentyx®. In this role, he led the strategy, planning, and all aspects of brand management for the launch of Cosentyx, which was recognized as one of the most successful launches in Novartis’s history. Prior to Novartis, Mr. Plinio worked as an associate attorney at Skadden, Arps, Slate, Meagher & Flom, LLP and at Mudge, Rose, Guthrie, Alexander & Ferdon, LLP. He holds his J.D. from Seton Hall University School of Law and his B.A. in Economics and Legal Studies from Bucknell University.
“Evelo’s portfolio has the potential to transform patient care by providing a new type of medicine that is safe, effective, convenient, and affordable for millions of people,” said Mr. Plinio. “From my experience launching drugs for inflammatory diseases, there is a significant unmet need in the mild and moderate patient population – and EveIo is looking to bridge that treatment gap. As EDP1815 continues to progress through development for the treatment of psoriasis and atopic dermatitis, now is the time to begin building an integrated, nimble commercial organization. I look forward to working with the strong Leadership Team at Evelo, leveraging my deep knowledge to complement the great work already in motion, in order to capture the full breadth and impact of SINTAX medicines.”
About Evelo Biosciences
Evelo Biosciences is a clinical stage biotechnology company developing orally delivered medicines that act on SINTAX™, the small intestinal axis, to have systemic therapeutic effects. SINTAX plays a central role in governing the immune, metabolic, and neurological systems.
Evelo currently has four product candidates in development: EDP1815, EDP1867, and EDP2939 for the treatment of inflammatory diseases and EDP1908 for the treatment of cancer. Evelo is advancing additional product candidates in other disease areas.
For more information, please visit www.evelobio.com and engage with Evelo on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements concerning our development plans and the promise and potential impact of our product candidates.
These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the impact of the COVID-19 pandemic on our operations, including our preclinical studies and clinical trials, and the continuity of our business; we have incurred significant losses, are not currently profitable and may never become profitable; our need for additional funding; our limited operating history; our unproven approach to therapeutic intervention; the lengthy, expensive, and uncertain process of clinical drug development, including potential delays in regulatory approval; our reliance on third parties and collaborators to expand our microbial library, conduct our clinical trials, manufacture our product candidates, and develop and commercialize our product candidates, if approved; our lack of experience in manufacturing, selling, marketing, and distributing our product candidates; failure to compete successfully against other drug companies; protection of our proprietary technology and the confidentiality of our trade secrets; potential lawsuits for, or claims of, infringement of third-party intellectual property or challenges to the ownership of our intellectual property; our patents being found invalid or unenforceable; risks associated with international operations; our ability to retain key personnel and to manage our growth; the potential volatility of our common stock; our management and principal stockholders have the ability to control or significantly influence our business; costs and resources of operating as a public company; unfavorable or no analyst research or reports; and securities class action litigation against us.
These and other important factors discussed under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the three months ended March 31, 2021 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
Contact
Jessica Cotrone, 978-760-5622
jcotrone@evelobio.com
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