Myovant Sciences Appoints Uneek Mehra as Chief Financial and Business Officer
Myovant Sciences has appointed Uneek Mehra as Chief Financial and Business Officer, effective September 7, 2021, succeeding Frank Karbe, who will assist in the transition. Mehra brings over 25 years of experience in finance, corporate strategy, and business development, with a history of growing commercial-stage businesses. His expertise is expected to enhance Myovant's growth as the company advances its FDA-approved therapies, ORGOVYX and MYFEMBREE. Mehra aims to support the company's transition to a rapid-growth commercial organization, pursuing innovative therapies for women's and men's health.
- Appointment of Uneek Mehra expected to strengthen leadership and support growth.
- Mehra brings extensive experience in finance and business development, crucial for strategic expansions.
- Myovant's ongoing product launches indicate momentum in commercial activities and potential revenue growth.
- Transition from an established CFO may raise concerns about financial continuity.
- Potential experience gaps during the leadership change could impact operational effectiveness.
BASEL, Switzerland, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Myovant Sciences (NYSE: MYOV), a healthcare company focused on redefining care for women and men, today announced the appointment of Uneek Mehra as Chief Financial and Business Officer of Myovant Sciences, Inc. Mr. Mehra will succeed Frank Karbe, who has decided to pursue other opportunities and will serve in an advisory capacity to support Mr. Mehra’s transition. Beginning September 7, 2021, Mr. Mehra will lead Myovant’s finance, alliance partnerships, and business development functions and will be a member of Myovant’s Executive Committee, reporting to Dave Marek, Myovant’s Chief Executive Officer.
Mr. Mehra brings extensive financial leadership expertise supporting multi-billion dollar commercial-stage businesses in addition to deep experience successfully growing and scaling emerging companies. He has over 25 years of experience in finance, corporate strategy, business development, and operations in the banking, technology, medical device, and pharmaceutical industries across global geographies, and within public and private organizations.
“We’re delighted to welcome Uneek to Myovant,” said Dave Marek, Myovant’s Chief Executive Officer. As Myovant continues to build momentum with our launches of ORGOVYX® and MYFEMBREE®, we are seeking to build our pipeline and committed to adding key experience and capabilities to support our near and long-term success. Uneek brings an uncommon breadth of successful leadership in commercial execution and a track-record of large-scale strategic business development that will be instrumental in driving Myovant’s future growth. We thank Frank for his many contributions to the company over the past five years. He has helped lead the company through clinical development, capital raising and partnerships, initial commercial launches, and has been an inspirational influence supporting our patient-centered culture.”
Mr. Mehra joins Myovant from PACT pharma, a personalized cell therapy company targeting solid cancers, where, as Chief Financial Officer and Corporate Treasurer, he successfully built partnerships, and raised capital to scale the emerging company. Prior to joining PACT, Uneek was Chief Financial Officer at Proteus Digital Health, a digital medicines company, with responsibility for Finance, Tax, Treasury, IT, Facilities, and Human Resources. Previously, Mr. Mehra spent more than 13 years at Novartis where he drove strategic investments and commercial financial performance for multi-billion dollar businesses. He successfully led strategic portfolio prioritization and resource allocation across several business units and steered successful transactions across oncology and specialty pharma assets. As Chief Financial Officer of the US Integrated Care and Critical Care Business Units, Mr. Mehra supported commercial excellence across multiple products; notably, driving the launch and execution of Cosentyx® and Entresto®. Earlier in his career, Mr. Mehra held senior finance roles with International Business Machines(IBM) Corporation and Citibank.
Mr. Mehra obtained his Master’s in Business Administration in Strategy and Leadership from the International Institute for Management Development, Lausanne, Switzerland; Master’s of Science in Finance from the University of Mumbai, India; and Bachelor’s of Engineering in Electronics from the Birla Institute of Technology and Science, Pilani, India.
“I’m honored to join Myovant at this pivotal stage of growth for the company. I’m energized by Myovant’s completing its transition from a clinical stage company to a rapid-growth commercial organization, with two important therapies for women and men, and resources to secure the next generation of differentiated therapies,” said Mr. Mehra. “I particularly admire Myovant’s purpose to make a difference in the lives of patients through a focus on placing patient care as the centerpiece of its mission.”
“I’m proud to have been part of Myovant since its beginning to help lead the organization through its IPO, the establishment of multiple partnerships and two product launches,” said Mr. Karbe. “The Myovant team has accomplished a lot over the past five years, and I’m grateful for having been part of such an excellent group of people. I’m confident the company is well-positioned to successfully execute on its product launches, pursue business development, and fulfill its mission of re-defining care and improving the lives of millions of women and men.”
About Myovant Sciences
Myovant Sciences aspires to redefine care for women and for men through purpose-driven science, empowering medicines, and transformative advocacy. Founded in 2016, we have two FDA-approved products. ORGOVYX® (relugolix) was approved by the U.S. Food and Drug Administration in 2020 as the first and only oral gonadotropin-releasing hormone (GnRH) receptor antagonist for the treatment of adult patients with advanced prostate cancer, and relugolix is also under regulatory review in Europe for men with advanced prostate cancer. Relugolix combination tablet (relugolix 40 mg, estradiol 1 mg, and norethindrone acetate 0.5 mg) was approved in 2021 in the EU as RYEQO® for the treatment of moderate to severe symptoms of uterine fibroids in adult women of reproductive age, and in the U.S. as MYFEMBREE® as the first once-daily treatment for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women. The therapy has also completed Phase 3 registration-enabling studies for women with endometriosis and is being assessed for contraceptive efficacy in healthy women ages 18-35 years who are at risk for pregnancy. We are also developing MVT-602, an oligopeptide kisspeptin-1 receptor agonist, which has completed a Phase 2a study for female infertility as part of assisted reproduction. Sumitovant Biopharma, Ltd., a wholly owned subsidiary of Sumitomo Dainippon Pharma Co., Ltd., is our majority shareholder. For more information, please visit our website at www.myovant.com. Follow @Myovant on Twitter and LinkedIn.
Investor Contact:
Ryan Crowe
Vice President, Investor Relations
Myovant Sciences, Inc.
+1 (650) 781-9106
investors@myovant.com
Media Contact:
Albert Liao
Director, Corporate Communications
Myovant Sciences, Inc.
+1 (650) 410-3055
media@myovant.com
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