Karyopharm Announces Key Changes to Its Commercial Leadership Team
Karyopharm Therapeutics (Nasdaq: KPTI) announced significant management changes aimed at enhancing its commercial operations, including the appointment of Sohanya Cheng as Senior Vice President of Sales and Commercial Operations. Payman Darouian will oversee marketing for the company's lead product, XPOVIO (selinexor), while former executives John Demaree and Perry Monaco will leave to pursue other opportunities. Cheng, with 17 years in biopharmaceuticals, previously led marketing at Arrowhead Pharmaceuticals and has extensive oncology experience, contributing to the company's strategy for multiple myeloma and lymphoma.
- Appointment of Sohanya Cheng as Senior Vice President may bring fresh perspectives to sales and marketing.
- Payman Darouian's expanded role could enhance marketing efforts for XPOVIO.
- Departure of Chief Commercial Officer and Senior Vice President of Sales may lead to continuity concerns.
- Not filling the Chief Commercial Officer position could create gaps in leadership.
NEWTON, Mass., June 8, 2021 /PRNewswire/ -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced key management changes to its commercial organization, including the appointment of Sohanya Cheng, MBA, as Senior Vice President of Sales and Commercial Operations. Payman Darouian, PharmD, Senior Vice President of Marketing will lead all marketing activities for Karyopharm's lead product, XPOVIO® (selinexor). In addition, John Demaree, Chief Commercial Officer, and Perry Monaco, Senior Vice President of Sales, will be leaving Karyopharm to pursue other opportunities.
"We are excited to welcome Sohanya to Karyopharm and to broaden Payman's role within the organization as we continue to execute on the commercialization of XPOVIO® and expand its position in the treatment paradigm for multiple myeloma, diffuse large B-cell lymphoma, and potentially additional tumor types, if approved, in the future," said Richard Paulson, MBA, President and Chief Executive Officer of Karyopharm. "I'd also like to take this opportunity to thank both John and Perry for their tremendous contributions to the initial commercial success of XPOVIO and sincerely wish them both success in their future endeavors."
The Company does not currently plan to fill the position of Chief Commercial Officer and both Ms. Cheng and Dr. Darouian will report directly to Richard Paulson, President and Chief Executive Officer.
Ms. Cheng brings 17 years of biopharmaceutical commercialization and research experience to Karyopharm, predominately in the oncology space. Prior to joining Karyopharm, Ms. Cheng served as Vice President, Head of Marketing and Corporate Affairs at Arrowhead Pharmaceuticals and prior to this role, spent over 10 years within the commercial organization at Amgen. While at Amgen, Ms. Cheng held a variety of sales and marketing leadership roles supporting the commercialization of key oncology brands, including Kyprolis® for multiple myeloma and Blincyto® for acute lymphoblastic lymphoma, and served as Amgen's Executive Director, Head of Marketing & Sales for their multiple myeloma business. Ms. Cheng holds an MBA from the MIT Sloan School of Management and a BSc and MA from the University of Cambridge, UK.
Dr. Darouian joined Karyopharm in January 2021 and is responsible for all marketing efforts for XPOVIO. Prior to joining Karyopharm, he spent more than 17 years in a variety of commercial leadership roles, predominately in the oncology space, including at Novartis where Dr. Darouian served as the Executive Director and Global Brand Lead for Targeted Lung Cancer Therapies and also led commercial strategy for their Solid Tumor and Immuno-Oncology business. Prior to Novartis, Dr. Darouian helped lead worldwide commercialization of Opdivo® for the treatment of head and neck cancer at Bristol Myers Squibb. Finally, while at Sanofi, Dr. Darouian held numerous marketing leadership roles over an eight year period supporting key oncology brands, including Jevtana® and Eloxatin®. Dr. Darouian holds a PharmD from the Albany College of Pharmacy and a BS from the University of Massachusetts, Amherst.
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) is a commercial-stage pharmaceutical company pioneering novel cancer therapies and dedicated to the discovery, development, and commercialization of first-in-class drugs directed against nuclear export for the treatment of cancer and other diseases. Karyopharm's Selective Inhibitor of Nuclear Export (SINE) compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). Karyopharm's lead compound, XPOVIO® (selinexor), is approved in the U.S. in multiple hematologic malignancy indications, including in combination with Velcade® (bortezomib) and dexamethasone for the treatment of adult patients with multiple myeloma after at least one prior therapy, in combination with dexamethasone for the treatment of adult patients with heavily pretreated multiple myeloma and as a monotherapy for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma. NEXPOVIO® (selinexor) has also been granted conditional marketing authorization in combination with dexamethasone for adult patients with heavily pretreated multiple myeloma by the European Commission. In addition to single-agent and combination activity against a variety of human cancers, SINE compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm has several investigational programs in clinical or preclinical development. For more information, please visit www.karyopharm.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding Karyopharm's expectations and plans relating to XPOVIO for the treatment of patients with relapsed or refractory multiple myeloma, diffuse large B-cell lymphoma and certain solid tumors. Such statements are subject to numerous important factors, risks and uncertainties, many of which are beyond Karyopharm's control, that may cause actual events or results to differ materially from Karyopharm's current expectations. For example, there can be no guarantee that Karyopharm will successfully commercialize XPOVIO. Further, there can be no guarantee that any positive developments in the development or commercialization of Karyopharm's drug candidate portfolio will result in stock price appreciation. Management's expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other factors, including the following: the risk that the COVID-19 pandemic could disrupt Karyopharm's business more severely than it currently anticipates, including by negatively impacting sales of XPOVIO, interrupting or delaying research and development efforts, impacting the ability to procure sufficient supply for the development and commercialization of selinexor or other product candidates, delaying ongoing or planned clinical trials, impeding the execution of business plans, planned regulatory milestones and timelines, or inconveniencing patients; the adoption of XPOVIO in the commercial marketplace, the timing and costs involved in commercializing XPOVIO or any of Karyopharm's drug candidates that receive regulatory approval; the ability to retain regulatory approval of XPOVIO or any of Karyopharm's drug candidates that receive regulatory approval; Karyopharm's results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, including with respect to the need for additional clinical studies; the ability of Karyopharm or its third party collaborators or successors in interest to fully perform their respective obligations under the applicable agreement and the potential future financial implications of such agreement; Karyopharm's ability to obtain and maintain requisite regulatory approvals and to enroll patients in its clinical trials; unplanned cash requirements and expenditures; development or regulatory approval of drug candidates by Karyopharm's competitors for products or product candidates in which Karyopharm is currently commercializing or developing; and Karyopharm's ability to obtain, maintain and enforce patent and other intellectual property protection for any of its products or product candidates. These and other risks are described under the caption "Risk Factors" in Karyopharm's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, which was filed with the Securities and Exchange Commission (SEC) on May 4, 2021, and in other filings that Karyopharm may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by law, Karyopharm expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
XPOVIO® and NEXPOVIO® are registered trademarks of Karyopharm Therapeutics Inc. Any other trademarks referred to in this release are the property of their respective owners.
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SOURCE Karyopharm Therapeutics Inc.
FAQ
What management changes were announced by Karyopharm on June 8, 2021?
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