LYON, France--(BUSINESS WIRE)--Regulatory News:
ERYTECH Pharma (Paris:ERYP) (ADR:EYRYY) (Euronext Paris: ERYP), the French biopharmaceutical company that develops innovative ‘tumor starvation’ treatments for acute leukemia and other oncology indications with unmet medical needs, announces the appointment of Eric Soyer as Chief Financial and Chief Operating Officer (CFO/COO).
Mr. Soyer brings more than 20 years of experience in executive leadership positions with responsibility for financial and operational functions with established and emerging public and private companies. Over the past eight years Eric served as the Group CFO of the Lyon based, NASDAQ listed therapeutic ultrasound company EDAP-TMS, where he was responsible for finance, administration, investor relations, legal affairs, and human resources. During the past three years at EDAP-TMS, he was also Managing Director of the French affiliate of the group with responsibility for R&D and manufacturing operations and distribution for France, South America and EMEA.
Previously, he was the CFO and Chief Information Officer for a French leader in nursing homes and post-acute care clinics, and CFO and Legal Director for a leading French insurance company. He started his career as International Financial Controller at the Michelin Group.
Mr. Soyer received his Executive M.B.A. from HEC Paris, his M.B.A. from the University of Kansas in the United States and graduated from ESC Clermont School of Management in France.
Gil Beyen, CEO and Chairman of ERYTECH Pharma, commented, “Eric brings a unique breadth of experience in financial, administrative and operational functions, both in Europe and the US. We are delighted to welcome him to the team and believe his unique capabilities and expertise will greatly benefit ERYTECH as we pursue our business objectives.”
Mr. Soyer stated, “I am thrilled to join the executive management team at ERYTECH. It is an exciting time for the Company, with strong clinical results reported on their lead program in Europe, a solid late stage development pipeline and an ambitious strategy to leverage these results in other indications and geographic regions. I look forward to contributing to ERYTECH’s continued evolution and growing presence within the life sciences industry.”
About ERYTECH and ERY-ASP/GRASPA®: www.erytech.com
Created in Lyon in 2004, ERYTECH is a French biopharmaceutical company developing innovative therapies for rare forms of cancer and orphan diseases. Leveraging its proprietary ERYCAPS platform, which uses a novel technology to encapsulate therapeutic drug substances inside red blood cells, ERYTECH has developed a pipeline of product candidates targeting markets with high unmet medical needs. ERYTECH’s initial focus is on the treatment of acute lymphoblastic leukemia (ALL) and acute myeloid leukemia (AML). The company has recently announced positive Phase 3 trial results with its lead product candidate, ERY-ASP/GRASPA®, in children and adults with relapsed or refractory ALL. ERY-ASP/GRASPA consists of an enzyme, L-asparaginase, encapsulated inside donor-derived red blood cells. L-asparaginase depletes asparagine, a naturally occurring amino acid essential for the survival and proliferation of cancer cells, from circulating blood plasma. ERYTECH has also commenced clinical trials of ERY-ASP in the United States as a potential first-line therapy for the treatment of adults with ALL and a Phase 2 clinical trial in Europe evaluating GRASPA as a first-line therapy for the treatment of elderly patients with AML.
Every year over 50,000 patients are diagnosed with ALL or AML, the two forms of acute leukemia in Europe and the United States alone. Today, for about 80% of these patients, mainly adults and relapsing patients, current forms of L-asparaginase cannot be used due to their toxicity. With its improved safety profile, ERYTECH is developing ERY-ASP/GRASPA® to allow all leukemia patients to be treated, even the most fragile ones.
ERYTECH believes that ERY-ASP could also be used to treat solid tumors and is conducting a Phase 2 clinical trial in Europe in patients with pancreatic cancer. In addition to its current product candidates that focus on using encapsulated enzymes to induce tumor starvation with reduced side effects, ERYTECH is exploring the use of its platform for developing cancer vaccines and enzyme replacement therapies.
ERYTECH has obtained orphan drug designations for ERY-ASP/GRASPA® in ALL, AML and pancreas cancer, both in Europe and the USA. ERYTECH produces ERY-ASP/GRASPA® at its own GMP-approved and operational manufacturing site in Lyon (France), and at a site for clinical production in Philadelphia (USA). The Company has entered into licensing and distribution partnership agreements for ALL and AML in Europe with Orphan Europe (Recordati Group), and for ALL with TEVA in Israel.
ERYTECH is listed on Euronext regulated market in Paris (ISIN code: FR0011471135, ticker: ERYP) and is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indexes. ERYTECH is also listed in the US under an ADR level 1 program (OTC, ticker EYRYY).
Forward-looking information
This document may contain forward-looking statements and estimates with respect to the financial situation, the results of operations, the strategy, the project and to the anticipated future performance of ERYTECH and of the market in which it operates. Certain of these statements, forecasts and estimates can be recognized by the use of words such as, without limitation, “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will” and “continue” and similar expressions. They include all matters that are not historical facts. Such statements, forecasts and estimates are based on various assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable when made but may or may not prove to be correct. Actual events are difficult to predict and may depend upon factors that are beyond the Company's control. There can be no guarantees with respect to pipeline products that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. Therefore, actual results, the financial condition, performance or achievements of ERYTECH, or industry results, may turn out to be materially different from any future results, performance or achievements expressed or implied by such statements, forecasts and estimates. Documents filed by ERYTECH Pharma with the French Autorité des Marchés Financiers (www.amf-france.org), also available on our website (www.erytech.com) describe such risks and uncertainties. Given these uncertainties, no representations are made as to the accuracy or fairness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates only speak as of the date of the publication of this document. ERYTECH disclaims any obligation to update any such forward-looking statement. Readers are cautioned not to place undue reliance on any of these forward-looking statements. ERYTECH disclaims any obligation to update any such forward-looking statement, forecast or estimates to reflect any change in the Company’s expectations with regard thereto, or any change in events, conditions or circumstances on which any such statement, forecast or estimate is based, except to the extent required by French law.
