LAVA Therapeutics Announces Appointment of Fred M. Powell as Chief Financial Officer

Rhea-AI Summary

LAVA Therapeutics, a clinical-stage immuno-oncology company (Nasdaq: LVTX), has appointed Fred M. Powell as its new Chief Financial Officer effective immediately. Mr. Powell brings over 20 years of CFO experience in the biopharmaceutical sector, including significant roles in investor relations and strategic planning. Previously, he led the financial team at Antares Pharma, contributing to its successful $1 billion acquisition. CEO Stephen Hurly welcomed Powell, highlighting his expertise in driving growth initiatives crucial for LAVA's bispecific gamma delta T cell engagers pipeline, particularly LAVA-051 and LAVA-1207.

Positive

• Appointment of an experienced CFO with significant biopharmaceutical industry background.
• Fred Powell's previous experience with successful acquisitions may enhance LAVA's strategic financial planning.

Negative

• Potential continuity risks with the introduction of a new CFO during critical clinical development stages.

UTRECHT, The Netherlands and PHILADELPHIA, Nov. 01, 2022 (GLOBE NEWSWIRE) -- LAVA Therapeutics N.V. (Nasdaq: LVTX), a clinical stage immuno-oncology company focused on developing its proprietary Gammabody™ platform of bispecific gamma delta T cell engagers, today announced the appointment of Fred M. Powell as Chief Financial Officer, effective today. Mr. Powell brings over 20 years of global CFO experience in the biopharmaceutical industry, including investor relations, administration, operations and information technology.

“I am pleased to welcome Fred to LAVA’s executive team. He brings extensive expertise in financial leadership and is a seasoned executive having served as a CFO for several publicly traded biopharmaceutical companies that have positively impacted patients with wide-ranging diseases and medical conditions around the world,” said Stephen Hurly, president and chief executive officer of LAVA Therapeutics. “Fred’s deep insights into the industry will help drive critical growth initiatives and strategic financial planning at LAVA as we achieve milestones for our pipeline of bispecific gamma delta T cell engagers.”

“I joined LAVA to work with an emerging leader with tremendous potential to create transformative therapeutics for people with cancer. I am impressed by the team’s significant knowledge and expertise in oncology, antibodies and gamma delta T cells, and drug development more broadly,” said Mr. Powell. “During this important stage of LAVA’s clinical execution and growth, I look forward to contributing to the strong momentum the Company is building to bring bispecific gamma delta T cell engagers to patients.”

Most recently, Mr. Powell served as the executive vice president and chief financial officer of Antares Pharma, playing a leading strategic role in the successful $1.0 billion acquisition of Antares by Halozyme Therapeutics in May 2022. He was also CFO at Celator Pharmaceuticals (acquired by Jazz Pharmaceuticals), OraPharma, Inc. (acquired by Valeant Pharmaceuticals International) and BMP Sunstone Corporation (acquired by Sanofi-Aventis) and held various positions of increasing responsibility at KPMG LLP. Mr. Powell is the vice chairman of the Advisory Board for Penn State Scranton. He holds a B.S. in accounting from Pennsylvania State University.

About LAVA Therapeutics
LAVA Therapeutics N.V. is a clinical-stage immuno-oncology company utilizing its proprietary Gammabody™ platform to develop a portfolio of bispecific gamma delta T cell engagers for the potential treatment of solid and hematologic malignancies. The Company utilizes bispecific antibodies engineered to selectively kill cancer cells by triggering Vγ9Vδ2 (Vgamma9 Vdelta2) T cell antitumor effector functions upon cross-linking to tumor-associated antigens. LAVA-051, the Company’s lead candidate for the treatment of multiple myeloma, chronic lymphocytic leukemia, and acute myeloid leukemia, is enrolling patients in a Phase 1/2a clinical study (NCT04887259). A Phase 1/2a clinical study to evaluate LAVA-1207 in patients with metastatic castration-resistant prostate cancer (mCRPC) is also enrolling (NCT05369000). For more information, please visit www.lavatherapeutics.com, and follow us on LinkedIn, Twitter and YouTube.

CONTACTS
Investor Relations
ir@lavatherapeutics.com

Argot Partners (IR/Media)
212-600-1902
lava@argotpartners.com

FAQ

Who is the new CFO of LAVA Therapeutics?

Fred M. Powell has been appointed as the Chief Financial Officer of LAVA Therapeutics.

What experience does Fred Powell bring to LAVA Therapeutics?

Fred Powell has over 20 years of experience as a CFO in the biopharmaceutical sector, including key roles in multiple successful acquisitions.

What is the stock symbol for LAVA Therapeutics?

The stock symbol for LAVA Therapeutics is LVTX.

What are the key responsibilities of the new CFO at LAVA Therapeutics?

Fred Powell will focus on strategic financial planning and driving growth initiatives for LAVA's bispecific gamma delta T cell engagers.