Provention Bio Announces Key Additions to its Senior Management Team

OLDWICK, N.J., April 2, 2019 /PRNewswire/ -- Provention Bio, Inc. (Nasdaq: PRVB), a clinical stage biopharmaceutical company dedicated to intercepting and preventing immune-mediated diseases, today announced the appointment of Douglas Jacobstein, M.D., as Vice President of Clinical Development, and Alex Rabiee as Vice President of Business Development.

“The addition of Doug and Alex further strengthens our leadership team as we advance the clinical development of our pioneering portfolio of immune-mediated interception and prevention assets,” stated Ashleigh Palmer, CEO of Provention Bio. “Doug’s gastroenterology expertise and extensive clinical development experience will be invaluable as we advance our inflammatory bowel disease assets and prepare for next year’s start of our Phase 2b PROACTIVE study of PRV-015 (anti-IL-15) in gluten free diet non-responsive celiac patients. Alex has a proven track record in designing, executing and leveraging long-term value-creating partnerships, which will be essential as our pipeline progresses towards more advanced stages of clinical development and potential commercialization. We welcome Doug and Alex to the team and look forward to their contributions as we work to transform the therapeutic landscape for immune-mediated diseases.”

Dr. Jacobstein brings to Provention almost 15 years of clinical development, management and leadership expertise. He most recently served as Director of Clinical Development in the Immunology division of Janssen Pharmaceuticals, where he helped develop study designs and protocols for clinical programs. Previously, he was Director of Clinical Affairs, Autoimmunity, in the ImmunoDiagnostics Division of Thermo Fisher Scientific. Prior to joining Thermo Fisher, Dr. Jacobstein was Senior Director of Medical Affairs at Osiris Therapeutics and held various positions in medical affairs and clinical development at UCB and Alba Therapeutics. Dr. Jacobstein practiced as an Attending Physician at The Sinai Hospital of Baltimore following completion of his fellowship in pediatric gastroenterology at the Children’s Hospital of Philadelphia. He received his medical degree from the University of Maryland School of Medicine and holds a BS from Cornell University.

Mr. Rabiee brings 15 years of experience in the biotechnology sector, most recently serving as Director of Business Development at Amgen. He joined Amgen in 2004 and held positions of increasing responsibility including R&D program management and business development. Alex acted as a transaction lead on numerous completed out-license and collaboration transactions. Mr. Rabiee holds an MBA from UCLA Anderson School of Management and a BS in Biology from UC Irvine.

About Provention Bio, Inc.
Provention Bio, Inc. (Nasdaq: PRVB) is a clinical-stage biopharmaceutical company leveraging a transformational drug development strategy that is focused on the prevention or interception of immune-mediated disease. Provention’s mission is to in-license, transform and develop therapeutic candidates targeting the high morbidity, mortality and escalating costs of autoimmune and inflammatory diseases including: type 1 diabetes (T1D), Crohn’s disease, ulcerative colitis, celiac disease, lupus, and certain life-threatening viral diseases. Provention’s diversified portfolio includes advanced-stage product development candidates that have undergone clinical testing by other companies. For more information on Provention Bio, please visit www.proventionbio.com.

Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Provention’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to failure to obtain FDA approvals or clearances and noncompliance with FDA regulations; uncertainties of patent protection and litigation; limited research and development efforts and dependence upon third parties; substantial competition; our need for additional financing and the risks listed under “Risk factors” in our annual report on Form 10-K for the year ended December 31, 2018 and any subsequent filings with the Securities and Exchange Commission (SEC). As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Provention does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.

Investors:
Kimberly Minarovich or Sam Martin, Argot Partners
Kimberly@argotpartners.com or Sam@argotpartners.com
212-600-1902

Media:
David Rosen, Argot Partners
David.Rosen@argotpartners.com
212-600-1902

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SOURCE Provention Bio, Inc.

Company Codes: NASDAQ-NMS:PRVB