AVEO Oncology Names Keith S. Ehrlich As Chief Financial Officer

CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVEO Oncology (NASDAQ:AVEO) today announced the appointment of Keith S. Ehrlich to the position of chief financial officer. In this role, Mr. Ehrlich will be responsible for the company’s financial and administrative strategy and management, and will serve on the executive leadership team which governs corporate strategy. He will report to Michael Bailey, AVEO’s president and chief executive officer.

“Keith is a seasoned executive with deep experience in developing and executing financial and corporate strategy for biotechnology companies at various stages of growth”

“Keith is a seasoned executive with deep experience in developing and executing financial and corporate strategy for biotechnology companies at various stages of growth,” said Michael Bailey, president and chief executive officer. “We look forward to his contributions at AVEO as we seek to continue leveraging biomarker strategies and partnership opportunities to advance our pipeline of drug candidates.”

“AVEO’s multi-product, clinical-stage portfolio offers a number of opportunities and avenues for realizing shareholder value,” said Mr. Ehrlich. “As part of the AVEO management team, I look forward to supporting the planned advancement of these programs, both from a financial and corporate strategy perspective.”

Mr. Ehrlich, who is a C.P.A., most recently served as Chief Financial Officer of Synta Pharmaceuticals. Prior to Synta, Mr. Ehrlich served in various senior finance and audit roles, including Chief Financial Officer of Argentys, Dyax and OraVax, Director of Finance of Vertex Pharmaceuticals and senior audit manager with PricewaterhouseCoopers, LLP. Mr. Ehrlich received his B.A. in Biology from Drew University and his M.B.A. in Finance and Accounting from Rutgers University.

About AVEO

AVEO Oncology (AVEO) is a biopharmaceutical company committed to developing targeted therapies through biomarker-driven insights to provide improvements in patient outcomes where significant unmet medical needs exist. AVEO’s proprietary Human Response Platform™ has delivered unique insights into cancer and related disease biology that AVEO is seeking to leverage in the clinical development strategy of its therapeutic candidates. For more information, please visit the company’s website at www.aveooncology.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements of AVEO within the meaning of The Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release are forward-looking statements. The words “anticipate,” “expect,” “intend,” “may,” “plan,” “could,” “should,” “seek,” or the negative of these terms or other similar expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: Mr. Ehrlich’s expected contributions to the company; and AVEO’s strategy to continue leveraging biomarker strategies and partnership opportunities. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that AVEO makes due to a number of important factors, including risks relating to: AVEO’s ability to successfully implement its restructuring and strategic plans; AVEO’s ability to successfully enroll and complete clinical trials of its product candidates; AVEO’s ability to demonstrate to the satisfaction of the FDA, EMA or other equivalent foreign regulatory agencies, the safety, efficacy and clinically meaningful benefit of its product candidates; AVEO’s ability to achieve and maintain compliance with all regulatory requirements applicable to its product candidates; AVEO’s ability to obtain and maintain adequate protection for intellectual property rights relating to its product candidates and technologies; developments and expenses related to AVEO’s ongoing shareholder litigation and SEC inquiry; AVEO’s ability to raise the substantial additional funds required to achieve its goals; unplanned capital requirements; adverse general economic and industry conditions; competitive factors; and those risks discussed in the section titled “Risk Factors” included in AVEO’s most recent Annual Report on Form 10-K, its quarterly reports on Form 10-Q and in its other filings with the SEC. The forward-looking statements in this press release represent AVEO’s views as of the date of this press release. AVEO anticipates that subsequent events and developments will cause its views to change. However, while AVEO may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing AVEO’s views as of any date subsequent to the date of this press release.

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