Enlivex Announces Appointment of New Chief Executive Officer
October 24 2019 - 7:30AM
Enlivex Therapeutics, Ltd., a clinical-stage immunotherapy company,
today announced the appointment of Dr. Oren Hershkovitz as Chief
Executive Officer, effective November 16, 2019. Dr. Hershkovitz
served for nearly a decade in managerial and executive roles at
PROLOR Biotech, Inc. and OPKO Biologics, Ltd., the biotech
subsidiary of OPKO Health, Inc. acting as General Manager of OPKO
Biologics for the past four years. Dr. Hershkovitz successfully
managed more than 70 employees and led manufacturing, non-clinical
and clinical development for various Phase I, II and III programs,
including for obesity, hemophilia and growth hormone deficiency.
Dr. Hershkovitz obtained his Ph.D. in immunology, with distinction,
from Ben Gurion University in Israel.
Pfizer and OPKO Health announced on October 21, 2019 that
PROLOR’s lead drug, Somatrogon, which was partnered to Pfizer in
2014, met the primary endpoint in a pivotal Phase III clinical
trial. Mr. Shai Novik, Executive Chairman of Enlivex – who founded
PROLOR and led the company through its acquisition by OPKO as well
as the execution of the agreement with Pfizer – and Dr.
Hershkovitz, are now joining forces again at Enlivex.
“We are pleased about the appointment of Dr. Hershkovitz as the
new CEO of Enlivex,” stated Shai Novik, Executive Chairman. “I have
had the pleasure of working together with Dr. Hershkovitz when he
was part of my management team at PROLOR Biotech and watched him
develop into one of the leading biotech executives in Israel today.
While at PROLOR, we developed Somatrogon, sold the company to OPKO,
licensed the product to Pfizer, and now post its successful Phase
III we anticipate that, if approved by the regulators, the product
will become a winner in the multi-billion dollar growth hormone
therapy market. Taking into account Dr. Hershkovitz’s biotech
executive experience, coupled with an impressive immunology
background, we believe he is well-positioned to provide significant
value in his CEO role and to further develop and execute the
strategic and operating plan of Enlivex to become a leading
immunotherapy company.
Commenting on his appointment, Dr. Hershkovitz said “I am
excited to join Enlivex at a time in which it is getting ready to
initiate two advanced clinical trials, one for the prevention of
GvHD post BMT and one for the prevention of organ failure and
mortality associated with sepsis. I believe that Enlivex possesses
a unique combination of revolutionary science, a strong management
team, and novel immunotherapy product that has the potential to
change the lives of millions of patients around the world. I look
forward to joining Enlivex’s strong management group and
collaborating again with several of my PROLOR Biotech colleagues
who are serving on the board of directors of Enlivex, as well as
with Prof. Mevorach, the founder of Enlivex, who developed
Enlivex’s innovative cell therapy.”
ABOUT ENLIVEX
Enlivex is a clinical stage immunotherapy company, developing an
allogeneic drug pipeline for immune system rebalancing. Immune
system rebalancing is critical for the treatment of
life-threatening immune and inflammatory conditions which involve
hyper-expression of cytokines (Cytokine Release Syndrome) and for
which there are no approved treatments (unmet medical needs), as
well as solid tumors immune-checkpoint rebalancing. For more
information, visit http://www.enlivex.com.
Safe Harbor Statement: This press release contains
forward-looking statements, which may be identified by words such
as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,”
“believes,” “should,” “would”, “could,” “intends,” “estimates,”
“suggests,” “has the potential to” and other words of similar
meaning, including statements regarding expected cash balances,
market opportunities for the results of current clinical studies
and preclinical experiments, the effectiveness of, and market
opportunities for, ALLOCETRATM programs. All such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that forward-looking statements
involve risks and uncertainties that may affect Enlivex’s business
and prospects, including the risks that Enlivex may not succeed in
generating any revenues or developing any commercial products; that
the products in development may fail, may not achieve the expected
results or effectiveness and/or may not generate data that would
support the approval or marketing of these products for the
indications being studied or for other indications; that ongoing
studies may not continue to show substantial or any activity; and
other risks and uncertainties that may cause results to differ
materially from those set forth in the forward-looking statements.
The results of clinical trials in humans may produce results that
differ significantly from the results of clinical and other trials
in animals. The results of early-stage trials may differ
significantly from the results of more developed, later-stage
trials. The development of any products using the
ALLOCETRATM product line could also be affected by a number of
other factors, including unexpected safety, efficacy or
manufacturing issues, additional time requirements for data
analyses and decision making, the impact of pharmaceutical industry
regulation, the impact of competitive products and pricing and the
impact of patents and other proprietary rights held by competitors
and other third parties. In addition to the risk factors
described above, investors should consider the economic,
competitive, governmental, technological and other factors
discussed in Enlivex’s filings with the Securities and Exchange
Commission, including in the Company’s most recent Annual Report on
Form 20-F filed with the Securities and Exchange Commission.
The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not
undertake any obligation to update forward-looking statements,
except as required under applicable law.
ENLIVEX CONTACT: Shachar Shlosberger, CFO
Enlivex Therapeutics, Ltd. shachar@enlivexpharm.com
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