Chimerix Announces Promotion of Michael T. Andriole to President and Chief Executive Officer
27 Junio 2023 - 3:05PM
Chimerix, Inc. (NASDAQ:CMRX), a biopharmaceutical company
whose mission it is to develop medicines that meaningfully improve
and extend the lives of patients facing deadly diseases, today
announced the promotion of Mike Andriole, Chief Business Officer
and Chief Financial Officer, to President and Chief Executive
Officer of Chimerix and his appointment to the Board of Directors.
Mr. Andriole replaces Mike Sherman, who is retiring from his role
as Chief Executive Officer and will become Chairman of the Board of
Directors. Martha Demski, the current Board Chair, will assume the
role of Lead Independent Director. These appointments will be
effective on August 1, 2023.
“The Board has been thoughtful in planning this succession,
ensuring ongoing strong leadership with the continuity of an
accomplished management team,” said Martha Demski, Board Chair of
Chimerix. “As part of that process, Mike Andriole has been involved
in nearly every aspect of the business beyond his formal
responsibilities and we look forward to his continued strong
leadership as we begin preparing the organization for potential
commercialization of ONC201. We also thank Mike Sherman for his
vision and leadership in guiding Chimerix through its
transformation into an oncology-focused company, one that is
fulfilling its mission to bring new therapies to patients suffering
from deadly disease.”
“I have worked closely with Mike Sherman for six years to bring
new medicines to patients facing a potential life-threatening
illness. During our time at Chimerix and our prior company, we have
led teams resulting in two product approvals that have meaningfully
advanced the standard of care in their respective indications,”
said Mr. Andriole. “Mike’s planned retirement follows a pivotal
transition period at Chimerix in which we evolved the Company into
an oncology focused organization with a proven management team.
Importantly, we have secured a strong balance sheet and are
executing the Phase 3 ACTION trial for ONC201 as a treatment for H3
K27M-mutant glioma. In addition, we are accelerating the
development of ONC206, which has shown early signals of activity
that may expand the reach of our imipridone platform to a much
broader patient population. I look forward to continuing to lead
Chimerix as we work to make these treatments available to patients
as quickly as possible with a particular focus on the
organization’s launch readiness for ONC201.”
“Mike Andriole has been instrumental in repositioning Chimerix.
I am confident he is the right leader to continue to successfully
execute our growth strategy, which we expect to yield important new
medicines for patients and to create significant value for
shareholders,” stated Mr. Sherman. “With the ACTION trial well
underway, I will work closely with the management team to ensure a
smooth transition and look forward to remaining engaged as Chair to
maximize value and bring this and future opportunities to
fruition.”
The Company also announced today that Martha Demski would be
assuming the role of Lead Independent Director. “I would also like
to thank Martha for her leadership as Board Chair, a position she
has held since 2018,” added Mr. Sherman. “As Lead Independent
Director she will provide another element of continuity, while
playing an important governance role continuing to support the
interest of shareholders.”
About Mike Andriole
Mr. Andriole joined Chimerix in 2019 as Chief Business Officer
and Chief Financial Officer. Since that time, he has supervised
strategic planning, new product planning, corporate development,
project management, market research, finance and accounting. Prior
to joining Chimerix, Mr. Andriole served as Chief Financial Officer
of Endocyte, Inc., a clinical-stage biotechnology company
developing targeted treatments for prostate and other cancers,
where, in partnership with Mr. Sherman, he was instrumental in
managing the company through a series of strategic transactions
which began at a point in time when the organization had a negative
enterprise value and culminated in its sale to Novartis for $2.1
billion.
Prior to joining Endocyte, Mr. Andriole spent 16 years at Eli
Lilly and Company in a range of financial, marketing and global
business development roles, including participation on leadership
teams of two commercial product launches which eventually generated
more than $5 billion in annual revenue.
During his more than 20-year biopharmaceutical career, Mr.
Andriole has held leadership roles in the planning, development, or
acquisition of nine programs that have garnered regulatory
approvals spanning oncology, neuroscience, and infectious
disease.
Mr. Andriole earned a BSBA from Xavier University’s Williams
College of Business and an MBA from Indiana University’s Kelley
School of Business.
About Chimerix
Chimerix is a biopharmaceutical company whose mission is to
develop medicines that meaningfully improve and extend the lives of
patients facing deadly diseases. The Company’s most advanced
clinical-stage development program, ONC201 (dordaviprone), is
currently enrolling in a Phase 3 clinical trial to treat patients
with H3 K27M-mutant diffuse glioma.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties that could cause actual
results to differ materially from those projected. Forward-looking
statements include those relating to, among other things: the
potential commercialization of ONC201; the acceleration of ONC206
clinical development and the reach of our imipridone platform; the
execution and results of our growth strategy; and other statements
containing the words “subject to”, "believe", “anticipate”, “plan”,
“expect”, “intend”, “estimate”, “potential”, “project”, “may”,
“will”, “should”, “would”, “could”, “can”, the negatives thereof,
variations thereon and similar expressions. Among the factors and
risks that could cause actual results to differ materially from
those indicated in the forward-looking statements are risks related
to risks that ongoing or future trials may not be successful or
replicate previous trial results, or may not be predictive of
real-world results or of results in subsequent trials; risks and
uncertainties relating to competitive products and technological
changes that may limit demand for our drugs; risks that our drugs
may be precluded from commercialization by the proprietary rights
of third parties; and additional risks set forth in the Company's
filings with the Securities and Exchange Commission. These
forward-looking statements represent the Company's judgment as of
the date of this release. The Company disclaims, however, any
intent or obligation to update these forward-looking
statements.
CONTACT:
Michelle LaSpaluto919 972-7115ir@chimerix.com
Will O’ConnorStern Investor
Relations212-362-1200will@sternir.com
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