Innoviva Appoints Stephen Basso as Chief Financial Officer
25 Agosto 2023 - 3:52PM
Business Wire
Innoviva, Inc. (NASDAQ: INVA) (“Innoviva” and “the Company”), a
diversified holding company with a portfolio of royalties and other
healthcare assets, today announced the appointment of Stephen Basso
as its Chief Financial Officer, effective August 21, 2023.
“We are excited to welcome Stephen to our executive leadership
team and believe the Company will benefit greatly from his
background and experience,” said Pavel Raifeld, Chief Executive
Officer of Innoviva. “I look forward to working with Stephen to
advance our strategy and create shareholder value.”
Mr. Basso brings more than 30 years of experience in the
financial services industry and financial leadership in the
pharmaceutical industry. Prior to joining Innoviva, Mr. Basso
served as Chief Financial Officer and Chief Operating Officer at
Cybrexa Therapeutics. Before Cybrexa, Mr. Basso held a variety of
finance leadership positions in the industry, including as Senior
Vice President of Finance at Inozyme Pharma, Inc., Vice President
of North American commercial operations and global finance at
Alexion Pharmaceuticals, Inc., and various finance roles at Pfizer,
Inc. and Fidelity Investments. Mr. Basso received a Bachelor of
Science in business from Providence College and a Master of
Business Administration in finance from Boston College.
Mr. Basso added, “I am thrilled to join Innoviva at a critical
time in its development. Working alongside such a dedicated team, I
am confident we will capitalize on many opportunities for value
creation and growth."
About Innoviva
Innoviva is a diversified holding company with a portfolio of
royalties and other healthcare assets. Innoviva’s royalty portfolio
includes respiratory assets partnered with Glaxo Group Limited
(“GSK”), including RELVAR®/BREO® ELLIPTA® (fluticasone furoate/
vilanterol, “FF/VI”) and ANORO® ELLIPTA® (umeclidinium bromide/
vilanterol, “UMEC/VI”). Under the Long-Acting Beta2 Agonist
(“LABA”) Collaboration Agreement, Innoviva is entitled to receive
royalties from GSK on sales of RELVAR®/BREO® ELLIPTA® and ANORO®
ELLIPTA®. Innoviva’s other healthcare assets include infectious
disease and hospital assets stemming from acquisitions of Entasis
Therapeutics, including its lead asset XACDURO®
(sulbactam-durlobactam) for the treatment of hospital-acqauire
bacterial pneumonia and ventilator-assoicated bacterial pneumonia,
and La Jolla Pharmaceutical, including GIAPREZA® (angiotensin II),
approved to increase blood pressure in adults with septic or other
distributive shock and XERAVA® (eravacycline) for the treatment of
complicated intra-abdominal infections in adults. ANORO®, RELVAR®
and BREO® are trademarks of the GSK group of companies.
Forward Looking Statements
This press release contains certain “forward-looking” statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995 regarding, among other things, statements relating to
goals, plans, objectives, and future events. Innoviva intends such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E
of the Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. The words “anticipate”, “expect”,
“goal”, “intend”, “objective”, “opportunity”, “plan”, “potential”,
“target” and similar expressions are intended to identify such
forward-looking statements. Such forward-looking statements involve
substantial risks, uncertainties, and assumptions. These statements
are based on the current estimates and assumptions of the
management of Innoviva as of the date of this press release and are
subject to known and unknown risks, uncertainties, changes in
circumstances, assumptions and other factors that may cause the
actual results of Innoviva to be materially different from those
reflected in the forward-looking statements. Important factors that
could cause actual results to differ materially from those
indicated by such forward-looking statements include, among others,
risks related to: expected cost savings; lower than expected future
royalty revenue from respiratory products partnered with GSK; the
commercialization of RELVAR®/BREO® ELLIPTA®, ANORO® ELLIPTA®,
GIAPREZA®, XERAVA® and XACDURO® in the jurisdictions in which these
products have been approved; the strategies, plans and objectives
of Innoviva (including Innoviva’s growth strategy and corporate
development initiatives); the timing, manner, and amount of
potential capital returns to shareholders; the status and timing of
clinical studies, data analysis and communication of results; the
potential benefits and mechanisms of action of product candidates;
expectations for product candidates through development and
commercialization; the timing of regulatory approval of product
candidates; and projections of revenue, expenses and other
financial items; the impact of the novel coronavirus (“COVID-19”);
the timing, manner and amount of capital deployment, including
potential capital returns to stockholders; and risks related to the
Company’s growth strategy. Other risks affecting Innoviva are
described under the headings “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” contained in Innoviva’s Annual Report on Form 10-K for
the year ended December 31, 2022 and Quarterly Reports on Form
10-Q, which are on file with the Securities and Exchange Commission
(“SEC”) and available on the SEC’s website at www.sec.gov. Past
performance is not necessarily indicative of future results. No
forward-looking statements can be guaranteed, and actual results
may differ materially from such statements. Given these
uncertainties, you should not place undue reliance on these
forward-looking statements. The information in this press release
is provided only as of the date hereof, and Innoviva assumes no
obligation to update its forward-looking statements on account of
new information, future events or otherwise, except as required by
law.
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Investors & Media: Argot Partners (212) 600-1902
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