Coherus Announces CFO Transition Plans
REDWOOD CITY, Calif., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Nasdaq: “CHRS”, “the Company”, “Coherus”) announced that Chief Financial Officer Jean-Frédéric Viret, Ph.D. will resign from Coherus effective March 7, 2021 to pursue another opportunity. McDavid Stilwell has been appointed to succeed Dr. Viret as CFO.
“It has been a sincere pleasure working with Jean over more than six years as we have built Coherus into a growing commercial-stage biotech company. He will always be a part of the Coherus family. I thank him for his contributions and wish him every success in his future endeavors,” said Denny Lanfear, CEO of Coherus. “I am excited to welcome McDavid to the CFO role at Coherus. With his years of finance, corporate strategy, and investor relations experience, I believe he will have a significant positive impact as we turn our strategic focus to immuno-oncology and our pipeline programs progress through key clinical, regulatory and commercial milestones.”
Mr. Stilwell joined Coherus in 2020 and brings over 25 years of experience in finance, corporate development, investor relations and communications. Previously, he was Senior Vice President, Communications and Investor Relations at Sangamo Therapeutics. Prior to joining Sangamo, Mr. Stilwell served as Vice President, Corporate Communications, Investor Relations & Business Development at Orexigen Therapeutics, and, from 2005 to 2012, as Director, Business Development, Corporate Communications and Financial Analysis at GTx. Earlier in his career, Mr. Stilwell worked for five years as Senior Investment Analyst at Shadwell Capital, a hedge fund. Mr. Stilwell began his career as a journalist, first as a newspaper reporter and later as editor of an investor newsletter covering the financial services industry. Mr. Stilwell received a B.A. from St. John’s College and a M.B.A. from Harvard Business School.
"I am honored to step into the CFO role at this unique juncture in Coherus’ evolution,” said Mr. Stilwell. “I look forward to helping the Company achieve its strategic and financial objectives and fulfill its mission to increase patient access to medicines that can have a major impact on their lives while also delivering significant savings to the health care system.”
About Coherus BioSciences
Coherus is a commercial stage biopharmaceutical company with the mission to increase access to cost-effective medicines that can have a major impact on patients’ lives and to deliver significant savings to the health care system.
In February 2021, Coherus and Junshi Biosciences announced a collaboration in which Coherus would in-license toripalimab, an anti-PD-1 antibody, in the United States and Canada. Coherus’ strategy is to build a leading immuno-oncology franchise funded with cash generated by its commercial biosimilar business. Coherus markets UDENYCA® (pegfilgrastim-cbqv) in the United States and through 2023 expects to launch biosimilars of Humira®, Avastin® and Lucentis®, if approved.
For additional information, please visit www.coherus.com.
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Coherus’ expectations regarding its ability to generate cash flow from its commercial biosimilars business; Coherus’ and Junshi Biosciences’ ability to co-develop toripalimab, and Coherus’ ability to commercialize toripalimab, or any other drug candidates developed as part of its collaboration with Junshi Biosciences in the licensed territory; Coherus’ expectations regarding the value to patients of Coherus’ products in development; Coherus’ ability to reduce costs to patients and provide significant savings to the healthcare system; Coherus’ ability to prepare for projected launches through 2023 of biosimilars of Avastin®, Humira® and Lucentis®, if approved; Coherus’ expectations regarding the value to patients of Coherus’ products in development; and Coherus’ ability to reduce costs to patients and provide significant savings to the healthcare system.
Such forward-looking statements involve substantial risks and uncertainties that could cause Coherus’ actual results, performance or achievements to differ significantly from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties inherent in the clinical drug development process; the risks and uncertainties of the regulatory approval process, including the timing of review of Coherus’ regulatory filings such as the biologics license application for CHS-1420; the risk that CHS-1420 will not be approved prior to the anticipated U.S. market launch on or after July 1, 2023; the risk that Coherus is unable to complete commercial transactions and other matters that could affect the availability or commercial potential of Coherus’ biosimilar drug candidates; and the risks and uncertainties of possible patent litigation. All forward-looking statements contained in this press release speak only as of the date on which they were made. Coherus undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Coherus’ business in general, see Coherus’ Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on February 27, 2020, its Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2020, filed with the Securities and Exchange Commission on November 5, 2020 and its future periodic reports to be filed with the Securities and Exchange Commission. Our results for the quarter ended September 30, 2020 are not necessarily indicative of our operating results for any future periods.
EVP, Financial Strategy and IR
Coherus BioSciences, Inc.
+1 (650) 395-0152