Ian Read named Chairman of the Board of Areteia Therapeutics
Areteia Therapeutics, Inc. (“Areteia”) today announced that its Board of Directors has appointed Ian Read as Chairman of the Board. Mr. Read’s appointment as Areteia’s first Chairman follows the launch of the Company by Knopp Biosciences and Population Health Partners and the successful completion of the Company’s $350 million Series A financing led by Bain Capital Life Sciences, with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, Maverick Capital, and Population Health Partners.
“I am excited that Ian has been appointed as Chairman,” said Jorge Bartolome, Chief Executive Officer of Areteia. “He is an incredibly esteemed executive whose depth of experience, proven leadership and expert judgment will be invaluable to me and the Board of Directors as we focus on delivering on the Company’s strategy and advancing the Phase III program for dexpramipexole, the first potential oral drug for eosinophilic asthma.”
Commenting on his appointment, Mr. Read said, “I am honored to be chosen to serve as Chairman of Areteia and look forward to working with Jorge and the team. This is a compelling opportunity to address a high unmet need for severe asthmatics by bringing a new oral medicine to market to potentially treat eosinophilic asthma earlier in the treatment paradigm and offer patients and health systems an alternative to injectable biologics.”
Mr. Read brings to his role a distinguished 42-year track record as one of the foremost leaders, dealmakers, and value creators in the global biopharmaceutical industry. He was Chairman and Chief Executive Officer of Pfizer, Inc. from December 2010 until January 2019, and Executive Chairman until December 2019. During that tenure, he oversaw over 30 new drug approvals, $88 billion in acquisition and divestiture deals, and a total shareholder return of 250%—representing over $242 billion in value creation. Mr. Read oversaw a period of industry-shaping innovation regarding the structure of Pfizer and its portfolio, including novel spin-outs and acquisitions alongside dozens of major licensing agreements. Mr. Read currently serves as a partner of Population Health Partners.
About Areteia Therapeutics
Areteia Therapeutics, Inc. (areteiatx.com) is a clinical stage biotechnology company committed to putting asthma patients in better control of their disease and lives by developing the first potential oral drug for eosinophilic asthma. Areteia’s lead drug candidate is dexpramipexole, a first-in-class oral eosinophil maturation inhibitor. Areteia was created by Population Health Partners and Knopp Biosciences. A syndicate of leading life sciences and strategic investors led by Bain Capital Life Sciences with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, Maverick Capital, and Population Health Partners, has committed to invest up to $350 million in Series A financing to establish Areteia and advance dexpramipexole through Phase III clinical trials, secure commercial supply, and pursue potential next-generation medicines. Areteia will conduct late-stage development, including Phase III clinical trials of dexpramipexole, in partnership with Population Health Partners’ development unit, Validae Health.
Dexpramipexole is an oral small molecule in Phase III development for eosinophilic asthma. Dexpramipexole inhibits the maturation and release of eosinophils in bone marrow, based on evidence from cell cultures and human biopsies, thereby lowering peripheral blood eosinophil levels. Most recently in a Phase II study in patients with moderate-to-severe eosinophilic asthma, treatment with dexpramipexole resulted in a significant, dose-dependent reduction in blood absolute eosinophil count at all doses tested (daily dexpramipexole doses of 37.5 mg, 75 mg, or 150 mg twice daily) compared to placebo. Dexpramipexole was well tolerated in the trial, with adverse events balanced across treatment and placebo groups, no serious adverse events, and no adverse events leading to discontinuation.
About Eosinophilic Asthma
Asthma disrupts the lives of more than a quarter of a billion people worldwide. More than half of asthma patients have eosinophilic asthma, which is driven by an oversupply of eosinophils, a type of white blood cell, in blood and tissue. By inhibiting the maturation of eosinophils, oral dexpramipexole acts in a way similar to injectable anti-IL-5 biologic therapies. The asthma biologic market is experiencing growth of 10% per year and is valued at around $8 billion, with IL-5 biologic therapies representing approximately $3 billion of that figure. If approved as a first-to-market oral, dexpramipexole could provide a compelling alternative to injectable biologics, and could potentially be used earlier in the asthma treatment paradigm to prevent progression of disease.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
11 Winners Recognised at Zayed Sustainability Prize Awards Ceremony held during COP28 UAE2.12.2023 03:15:00 CET | Press release
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, today awarded the winners of the Zayed Sustainability Prize, the UAE’s pioneering global award in sustainability and humanitarianism, during a ceremony held at COP28 UAE in Expo City Dubai. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231201649250/en/ 11 winners of the Zayed Sustainability Prize Recognised at COP28 (Photo: AETOSWire) The Ceremony was attended by numerous heads of delegations participating in COP28, ministers, senior government officials, and Prize winners and finalists. His Highness congratulated the winners, praising their efforts in promoting sustainability and encouraging them to continue their important contributions in this field. His Highness emphasised that the UAE is steadfast in building upon its established legacy in sustainability, a foundation laid by the country’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.
Zextras Introduces Carbonio - A Private Digital Workplace1.12.2023 16:07:00 CET | Press release
Zextras, the leading email and collaboration solutions provider, introduced Carbonio - a private digital workplace for the public sector and regulated industries. Carbonio emerges as an exceptional solution for the public sector, enabling them to implement an extensive digital workspace for their internal teams and stakeholders. Delivering a suite of features that are not only comprehensive but also fully customizable, from emails and calendars to video meetings and file storage, Carbonio allows for superior adaptation to any unique technical requirements or business objectives. It is equally enticing for regulated industries to enhance their operations by providing secure software solutions tailored to meet the distinct security needs of their country and respective states. The platform is rooted in robust compliance with global data protection regulations, including the European General Data Protection Regulation (GDPR). This fosters a secure digital environment for users, ensuring t
Beyond Medtech: Healthcare + Expo Taiwan Sets New Stage for Global Innovation in Future AI Healthcare1.12.2023 16:00:00 CET | Press release
The Healthcare+ Expo Taiwan, currently taking place at Nangang Exhibition Hall 1 from November 30 to December 3, 2023, is poised to redefine the landscape of AI healthcare on a global scale. This year's edition boasts the remarkable participation of 650 companies, occupying 2,300 booths, and has garnered the attention of leading technology firms and hospitals across the Asia-Pacific region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231201062013/en/ Expand businesses into growing markets in the APAC region with Healthcare+ Expo Taiwan. Join medical institutes and companies in the fields of medtech, biotech and healthcare to promote products, build partnerships and seize supply-demand opportunities. (Graphic: RBMP & IBMI) Taiwan's pivotal role in the AI-related supply chain is underscored by its impressive contribution, manufacturing AI chips, and over 90% of the world's AI servers. This proficiency positions Taiwan as a
International Sustainable Forestry Coalition Welcomes New Member, Sumitomo Forestry1.12.2023 15:31:00 CET | Press release
In September 2023, an international group of leading sustainable forestry companies launched the International Sustainable Forestry Coalition (ISFC) to support an increased contribution of the forestry sector to the transition to a sustainable society. Today the ISFC is delighted to announce that Sumitomo Forestry has joined the coalition. Sumitomo Forestry, headquartered in Tokyo, Japan, is a globally respected forestry sector leader with a long and honourable history. The Company’s history dates back to the seventeenth century when the Sumitomo family opened a copper mine in the Southern part of Japan and sourced timber for fuel and construction as well. Now, the company operates across the forestry value chain from forestry management, to wood processing, trading, wooden construction and biomass power generation. The firm is pursuing a long-term vision for the role of the forestry sector in the decarbonized society. Sumitomo Forestry manages sustainable working forests in Japan, Ind
Ant Group unveils "Fight Plastic for Nature" Action Initiative at COP281.12.2023 14:09:00 CET | Press release
In a pivotal move to address plastic pollution and promote nature conservation, the Ant Forest Foundation, established by Ant Group and its affiliates, today announced the launch of the "Fight Plastic for Nature" Action Initiative. The initiative was announced during the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change in Dubai, United Arab Emirates at the IUCN Pavilion. The International Union for Conservation of Nature (IUCN) will provide tools and standards to measure the reduction in plastic pollution and its positive impact on biodiversity. Additionally, the IUCN will share and promote best practices in plastic emission reduction across the plastic life cycle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231201206207/en/ During COP28, Ant Group unveiled Fight Plastic for Nature Action Initiative with partners at IUCN Pavilion on Dec.1, 2023 in Dubai, UAE (Photo: Busin