89bio Appoints Healthcare Industry Veteran Steven Altschuler, M.D., as Chairman of the Board of Directors
March 25 2020 - 4:05PM
89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical
company focused on the development and commercialization of
innovative therapies for the treatment of liver and
cardio-metabolic diseases, today announced the appointment of
Steven Altschuler, M.D., as chairman of its board of directors. Dr.
Altschuler currently serves as managing director of Healthcare
Ventures at Ziff Capital Partners. He brings 20 years of experience
growing healthcare organizations in business and leadership
capacities.
“We are very pleased to welcome Steven as
chairman of 89bio’s board of directors,” said Greg Grunberg, chair
of the nominating and corporate governance committee of 89bio’s
board of directors. “By any measure, Steven has distinguished
himself throughout his career as an innovator and dynamic leader in
the provider and biotechnology industries. We are incredibly
fortunate to have him join the team and confident he is going to be
a significant contributor to 89bio.”
In his role at Ziff Capital Partners, Dr.
Altschuler co-leads the firm’s efforts toward investing in, and
facilitating the start-up and development of, companies with
potentially transformative technologies that emphasize cellular and
molecular approaches to human disease. He previously co-founded
Spark Therapeutics to develop and commercialize the preclinical and
clinical gene therapy programs advanced at the Children’s Hospital
of Philadelphia (CHOP) and other institutions. Dr. Altschuler
served as Spark Therapeutics’ board chair from its founding through
its acquisition in 2019, which included leading the company through
a successful transition to a public company and the launch of the
first gene therapy for an inherited disease approved by the U.S.
Food and Drug Administration and European Medicines Agency.
“I joined the board of directors because of my
enthusiasm for 89bio’s potentially differentiated fibroblast growth
factor 21 (FGF21), BIO89-100, and its commercial potential in
non-alcoholic steatohepatitis (NASH) and severe
hypertriglyceridemia (SHTG),” said Dr. Altschuler. “I look forward
to working closely with the team and the rest of the board to
advance our work in liver and cardio-metabolic diseases.”
Trained as a pediatric gastroenterologist, Dr.
Altschuler formerly held CEO positions at CHOP, which is one of the
nation’s leading children’s hospitals, and the University of Miami
Health System. He is a member of the board of directors of WW
(formerly Weight Watchers International), Orchard Therapeutics,
AsclepiX Therapeutics, ImVaX and Platelet Biogenesis. He is also an
independent trustee of the Brigham and Women’s Physician
Organization at Mass General Brigham. Dr. Altschuler holds a B.A.
in mathematics and an M.D. from Case Western Reserve
University.
“Steven is an accomplished business leader who
has led and served on the boards of numerous biotechnology
companies,” said Rohan Palekar, CEO of 89bio. “We look forward to
drawing upon his strategic, operational and clinical expertise as
we continue to grow the organization and work towards developing
differentiated medicines for patients with liver and
cardio-metabolic diseases.”
About 89bio89bio is a
clinical-stage biopharmaceutical company focused on the development
and commercialization of innovative therapies for the treatment of
liver and cardio-metabolic diseases. The company’s lead product
candidate, BIO89-100, is being developed for the treatment of NASH.
The company also intends to develop BIO89-100 for the treatment of
SHTG. BIO89-100 is a specifically engineered glycoPEGylated analog
of FGF21 that is currently in a proof of concept Phase 1b/2a
clinical trial in patients with NASH or NAFLD and a high risk of
NASH. 89bio is headquartered in San Francisco with operations in
Herzliya, Israel. Visit 89bio.com for more information.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, 89bio’s
expectations regarding plans for its clinical programs and clinical
studies. Words such as “may,” “might,” “will,” “objective,”
“intend,” “should,” “could,” “can,” “would,” “expect,” “believe,”
“design,” “estimate,” “predict,” “potential,” “develop,” “plan” or
the negative of these terms, and similar expressions, or statements
regarding intent, belief, or current expectations, are
forward-looking statements. While 89bio believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward-looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties
(including, without limitation, those set forth in 89bio’s filings
with the U.S. Securities and Exchange Commission (SEC)), many of
which are beyond 89bio’s control and subject to change. Actual
results could be materially different. 89bio expressly disclaims
any obligation to update or alter any statements whether as a
result of new information, future events or otherwise, except as
required by law.
Investor Contact: Ryan Martins Chief Financial
Officer investors@89bio.com
Media Contact: Lori Rosen LDR Communications
917-553-6808 lori@ldrcommunications.com
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