AVM Biotechnology Expands C-Suite in Anticipation of 2023 Commercialization Efforts

Developing the Promise of AVM0703 with an Accomplished Leadership Team

SEATTLE -- (BUSINESS WIRE)-- AVM Biotechnology, a clinical stage company developing AVM0703, a small molecule that mobilizes endogenous gamma delta TCR+ and invariant TCR+ bispecific Natural Killer T-like cells, announced the expansion of its senior management with the appointment of Brian Andersen as Chief Commercial Officer and Pearl Chan as Chief Financial Officer. These seasoned industry leaders will help drive the company towards anticipated commercialization in 2023.

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Brian Andersen, CCO and Pearl Chan, CFO AVM Biotechnology (Photo: Business Wire)

Brian Andersen, CCO, brings over 20-years of commercial experience as a corporate executive. His experience building companies, launching new products, developing specialty pharmacy distribution networks with patient support programs, as well as generating and executing marketing plans are critical for AVM’s commercialization efforts. He has spent most of his career in the hospital, orphan disease and oncology areas of the pharmaceutical and biotech industry cofounding Vidara Therapeutics and working for companies such as Pharmacia, Dendreon and Horizon Therapeutics. Brian obtained his BSc. in Biology from the University of Illinois at Urbana-Champaign and an MBA from Northwestern University’s Kellogg School of Management.

Pearl Chan, CFO, has 25-years financial leadership experience in the tech industry having built high-performing teams as CFO at PicMonkey, NetMotion Software, and elsewhere setting direction, executing key initiatives, and catalyzing change. Pearl has a commanding understanding of the challenges and opportunities that companies like AVM face in hyper-growth environments. Her unique experience enables her to work with leadership to enhance the company’s success in achieving its goals. She has extensive experience preparing companies for significant capital and exit events. Pearl holds a BA from the University of Washington.

”The addition of these seasoned professionals to the AVM Executive Team is an important step in making AVM0703 available to cancer patients. We have observed encouraging results in the clinical study and are gratified to have a leadership team poised to bring us to market in 2023,” said AVM Biotechnology CEO, Joe Luminiello.

These strategic additions to the leadership team are timed with the near completion of the safety portion of a pivotal clinical trial in treating “no-option” Non-Hodgkin’s Lymphoma/Leukemia patients. The safety dose-escalation portion of the study is projected to be completed in Q1-Q2 2022 with the efficacy portion, already approved by FDA, set to begin immediately thereafter. The drug has been well-tolerated with patients generally experiencing mild to moderate and self-limiting side effects. There have been no dose limiting toxicities or grade 4 or 5 adverse events.

In the dose-escalation phase to date, a total of 8 of 10 patients have experienced clinical benefit; 3 of 10 (30%) have experienced a durable response or durable partial response, notably including T-cell Lymphoma. An additional patient has stable disease, and a further 4 patients (40%) have experienced a clinical and/or immune status improvement, allowing them to go on to therapies previously unavailable to them. Nine of the patients were dosed at levels below the anticipated target effective dose, increasing the significance of these results.

AVM0703 triggers the production and release of endogenous bispecific gamma delta TCR+ and invariant TCR+ Natural Killer T-like cells (AVM-NKT). These naturally occurring amplified immune cells have unique properties and appear rapidly in the blood following a single dose of AVM0703 which can be administered in an infusion center. Preclinical data suggest even greater efficacy in conjunction with chemotherapy as well as potential in solid tumors and autoimmune disorders.

Forward Looking Statement

This contains certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts and they may be accompanied by words such as “could,” “would,” “may,” “potentially,” “suggest,” “believes,” “expects,” “should,” and similar words or expressions. These forward-looking statements reflect our current views as of the date this is published, and are subject to risks, uncertainties, assumptions, changes in circumstances, and other factors; drug development and commercialization are highly risky and early clinical results in animals or humans may not reflect the full results from later stage or larger scale clinical trials. These forward-looking statements are subject to risks and uncertainties that could cause our actual results, performance, and expectations to differ materially from those expressed or implied by these statements, including statements about: future and ongoing drug development and timing; the applications of drugs to specific diseases; the potential for ongoing preclinical or clinical trial results; FDA or other regulatory findings and approvals; potential market opportunities; and the occurrence of future events or circumstances. There are risks and uncertainties involving and not limited to our ability to progress in our research and development efforts, complete clinical testing, achieve our expected results, commercialize our products, avoid infringement of patients, trademarks and other proprietary rights of third parties, protect products from competition, navigate the political environment, maintain sufficient capital and funding, avoid problems with our manufacturing processes, maintain our operations, and obtain regulatory approval to sell and market the drugs in the United States and elsewhere. The reader should not place any undue reliance on such forward-looking statements. We have no obligation to release publicly the results of any revisions to any of our forward-looking statements to reflect events or circumstances after the date these statements are made or to reflect the occurrence of unanticipated events, except as may be required by law.

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