Evelo Biosciences Appoints John A. Hohneker, M.D. to Board of Directors
Evelo Biosciences, Inc. (Nasdaq: EVLO) has appointed Dr. John Hohneker to its Board of Directors. Dr. Hohneker brings over 30 years of drug development experience, having held senior roles at companies like Anokion and Novartis. Evelo aims to leverage his expertise as it progresses its clinical candidates toward commercialization. Currently, Evelo is developing orally delivered therapies targeting the small intestinal axis (SINTAX™) to treat inflammatory diseases and cancer. The company has four candidates in development, including EDP1815, EDP1867, EDP2939, and EDP1908.
- Appointment of Dr. John Hohneker, enhancing leadership experience.
- Dr. Hohneker's extensive background in drug development could accelerate clinical progress.
- Evelo is advancing multiple product candidates, signaling strong pipeline potential.
- Evelo has incurred significant losses and is not currently profitable.
- Continued reliance on third parties for clinical trials and manufacturing poses risks.
- Uncertain drug development process could lead to potential delays.
CAMBRIDGE, Mass., Feb. 16, 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 John Hohneker, M.D., to its Board of Directors.
“John is an established leader with a proven track record of advancing novel compounds from preclinical development into blockbuster products across multiple therapeutic areas, including immunology and oncology,” said Simba Gill, Ph.D., Chief Executive Officer of Evelo. “I am delighted that he has joined our Board of Directors as we look to move our product candidates towards later stage clinical development and anticipated commercial launch.”
Dr. Hohneker has 30 years of drug development and leadership experience within the biotech and pharmaceutical industry. He served as President and CEO of Anokion SA from January 2018 to January 2021. Prior to Anokion, he was President of Research and Development at FORMA Therapeutics Inc., where he guided the Company’s transition from a discovery-stage biotech to one with multiple programs in clinical trials. Prior to FORMA, Dr. Hohneker held leadership roles of increasing responsibility at Novartis AG, most recently as Senior Vice President and Global Head of Development for Immunology and Dermatology, where he led the development and registration of Cosentyx® and Ilaris®. During his tenure at Novartis, Dr. Hohneker also played a key role in the development, approval, and commercialization of several products including Gleevec®, Tasigna®, Zometa®, Afinitor® and Exjade®. Prior to joining Novartis, he held positions of increasing responsibility at Glaxo Wellcome and its legacy company, Burroughs Wellcome.
“Over the last year, Evelo presented important new clinical data demonstrating the immense potential of the small intestinal axis, SINTAX™, as a therapeutic target for a broad range of diseases,” said Dr. Hohneker. “This is an exciting time to join the Board of Directors, given the advancements in the Company’s clinical programs. I look forward to working with the Evelo leadership team to help them realize their vision.”
About Evelo Biosciences
Evelo Biosciences is a clinical stage biotechnology company developing orally delivered product candidates that are designed to act on SINTAX with systemic therapeutic effects. SINTAX plays a central role in governing the immune, metabolic, and neurological systems. The Company’s first product candidates are pharmaceutical preparations of single strains of microbes selected for the potential to offer defined pharmacological properties. Evelo’s therapies have the potential to be effective, safe, and affordable medicines to improve the lives of people with inflammatory diseases and cancer.
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 the timing and results of our clinical trials, 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 quarter ended September 30, 2020 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
FAQ
What is the significance of Dr. John Hohneker's appointment to Evelo Biosciences?
What are the current product candidates being developed by Evelo Biosciences?
How might Dr. Hohneker's experience impact Evelo's future?
What challenges does Evelo Biosciences face in drug development?
