NEW HAVEN, Conn., June 15, 2023 (GLOBE NEWSWIRE) -- Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, today announced that Timothy Shannon, M.D., current Chairperson and a member of the company’s Board of Directors since 2013, has stepped down from this role. John Houston, Ph.D., has been named Chairperson, effective today. Additionally, Sunil Agarwal, M.D., has been appointed to join the company’s Board and Briggs Morrison, M.D., has been appointed Lead Independent Director of the Board.
“I have had the privilege of serving on Arvinas’ Board for the past decade and feel great pride for all that the company has accomplished during this time,” said Dr. Shannon. “It has been an honor to watch Arvinas evolve from its humble beginnings into a late-stage development company with clinical programs that have the potential to truly help patients. I am confident that the company’s Board is left with highly capable leadership under John and Briggs, and I look forward to watching Arvinas’ continued success unfold.”
“Tim has had an immeasurable impact on Arvinas and has been an unwavering champion for Arvinas over the past 10 years,” said John Houston, Chairperson, President and Chief Executive Officer at Arvinas. “Tim has been a highly valued and trusted partner and it has been a sincere pleasure to work with him over the years – he will truly be missed.”
Dr. Sunil Agarwal joins Arvinas’ Board with extensive experience in the life science industry. He recently served as Executive Vice President, Head of Development and Chief Medical Officer at Sana Biotechnology, Inc., and prior to this he served as President of Research and Development at Juno Therapeutics. He also served as a former Executive Vice President and Chief Medical Officer at Ultragenyx Pharmaceutical and previously served in various leadership roles at Genentech for more than a decade, including Senior Vice President and Global Head of Clinical Development for ophthalmology, metabolism, neurosciences, immunology, and infectious diseases.
Dr. Agarwal completed his residency at Children's National Medical Center (CNMC), Washington, D.C., and practiced in the CNMC Pediatric Emergency Department. He obtained his B.S. in neurobiology from Cornell University and earned his M.D. from Tufts University School of Medicine.
“I am pleased to welcome Sunil to Arvinas’ Board of Directors,” said Dr. Houston. “I am confident that his expertise and visionary mindset will provide an important perspective as we work to deliver potential treatment options to patients who need them most.”
“It is an honor to be part of an organization that is at the forefront of pioneering targeted protein degradation therapies and revolutionizing the field of medicine,” added Dr. Agarwal. “I look forward to contributing to Arvinas’ continued success, especially as the company plans and prepares to bring potential treatments to market.”
Arvinas is a clinical-stage biotechnology company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies that degrade disease-causing proteins. Arvinas uses its proprietary PROTAC® Discovery Engine platform to engineer proteolysis targeting chimeras, or PROTAC® targeted protein degraders, that are designed to harness the body’s own natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins. In addition to its robust preclinical pipeline of PROTAC® protein degraders against validated and “undruggable” targets, the company has three investigational clinical-stage programs in development: bavdegalutamide and ARV-766 for the treatment of men with metastatic castration-resistant prostate cancer; and vepdegestrant (ARV-471) for the treatment of patients with early and locally advanced or metastatic ER positive/human epidermal growth factor receptor 2 (HER2) negative (ER+/HER2-) breast cancer. For more information, visit www.arvinas.com.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding the impact that Dr. Agarwal’s expertise and mindset will have as the company moves forward; and the potential advantages and therapeutic benefits of the company’s three clinical-stage programs. . The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various risks and uncertainties, including but not limited to: whether we will be able to successfully conduct and complete development for our clinical-stage programs, whether we initiate and complete clinical trials for our product candidates and receive results from our clinical trials on our expected timelines or at all; whether our cash and cash equivalent resources will be sufficient to fund our foreseeable and unforeseeable operating expenses and capital expenditure requirements; and other important factors discussed in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent other reports on file with the Securities and Exchange Commission. The forward-looking statements contained in this press release reflect our current views with respect to future events, and we assume no obligation to update any forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release.
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