SOUTH SAN FRANCISCO, Calif., June 03, 2016 (GLOBE NEWSWIRE) -- Achaogen, Inc. (NASDAQ:AKAO), a clinical-stage biopharmaceutical company developing novel antibacterials addressing multi-drug resistant (MDR) gram-negative infections, today announced the addition of Mr. Tobin Schilke as Chief Financial Officer, effective July 5, 2016. Mr. Schilke will serve as Achaogen’s principal financial and accounting officer and will report to Kenneth Hillan, Chief Executive Officer.
“We are extremely pleased to have Toby joining the Achaogen team – he is a proven executive who has shaped and led successful teams,” said Kenneth Hillan, chief executive officer of Achaogen. “We look forward to leveraging Toby’s experience and expertise as we enter the next critical phase of our growth.”
Mr. Schilke is joining Achaogen after 13 years at Roche/Genentech where he has been, most recently, the CFO and Company Director of Roche Products Limited in the United Kingdom. In this role, Mr. Schilke was responsible for financial planning and analysis (FP&A), accounting, legal & financial compliance, supply chain, procurement and site services for Roche’s Pharma presence in the UK. Previously, Mr. Schilke had overall FP&A responsibility for Genentech's Commercial BioOncology business and, prior to Genentech, led a number of successful acquisition and spin-out deals as a member of the Roche Corporate M&A team.
Mr. Schilke received a Bachelor of Science degree in Chemical Engineering from Lafayette College in Easton, Pennsylvania, a Masters of Science degree from University of California in Berkeley, California, and a Masters of Business Administration degree from Cornell University’s Johnson Graduate School of Management in Ithaca, New York.
"With top-line results from the EPIC trial expected in Q1 2017, this is an exciting time to be joining Achaogen," said Mr. Schilke. "I am honored to be part of the Achaogen team and look forward to helping the company achieve its strategic objectives and financial goals as we work together to address the urgent need for new treatment options for serious MDR gram-negative infections."
Achaogen is a clinical-stage biopharmaceutical company passionately committed to the discovery, development, and commercialization of novel antibacterials to treat MDR gram-negative infections. Achaogen is developing plazomicin, Achaogen’s lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae. Achaogen’s plazomicin program is funded in part with a contract from the Biomedical Advanced Research and Development Authority. Plazomicin is the first clinical candidate from Achaogen’s gram-negative antibiotic discovery engine, and Achaogen has other programs in early and late preclinical stages focused on other MDR gram-negative infections. For more information, please visit www.achaogen.com.
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Achaogen’s expectations regarding (i) the timing of enrollment and of announcing topline results of Achaogen’s ongoing Phase 3 EPIC trial, (ii) the potential for Achaogen to address the urgent need for new treatment options for serious MDR gram-negative infections and (iii) Achaogen’s ability to leverage Mr. Schilke’s experience and expertise in Achaogen’s next phase of growth. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause Achaogen's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the preclinical and clinical development process; specific risks related to the ongoing Phase 3 EPIC trial, including the challenges in enrolling an adequate number of patients with rare infections; the risk of failure to successfully validate, develop and obtain regulatory clearance or approval for the in vitro diagnostic (IVD) assay for plazomicin; the risks and uncertainties of the regulatory approval process; the risks and uncertainties of commercialization and gaining market acceptance; the risk that bacteria may evolve resistance to plazomicin; risks and uncertainties as to Achaogen's ability to raise additional capital to support the development of plazomicin and its other programs; uncertainties regarding the availability of adequate third-party coverage and reimbursement for newly approved products; Achaogen's reliance on third parties to conduct certain preclinical studies and all of its clinical trials; Achaogen's reliance on third-party contract manufacturing organizations to manufacture and supply its product candidates and certain raw materials used in the production thereof; risks and uncertainties related to the acceptance of government funding for certain of Achaogen's programs. 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 Achaogen's business in general, see Achaogen's current and future reports filed with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, and its Annual Report on Form 10-K for the fiscal year ended December 31, 2015. Achaogen does not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.