Mr. Jacobovitz Previously Served as Chief Executive Officer of American College of Cardiology and President of Actelion Pharmaceuticals Ltd.
CiVi Expects to Enter Clinic with Lead PCSK9 Inhibitor in January 2018
PHILADELPHIA, Jan. 03, 2018 (GLOBE NEWSWIRE) -- CiVi Biopharma, a clinical stage biopharmaceutical company dedicated to developing novel medicines for the treatment of cardiovascular and liver diseases, today announced the appointment of Shalom “Shal” Jacobovitz as Chief Executive Officer, effective February 2, 2018. Mr. Jacobovitz, who most recently served for nearly five years as Chief Executive Officer of the American College of Cardiology (ACC), a 52,000-member non-profit medical society dedicated to transforming cardiovascular care and improving heart health, has also been appointed to serve as a director on CiVi’s Board of Directors. Prior to his role at the ACC, Mr. Jacobovitz was President of Actelion Pharmaceuticals Ltd., a biopharmaceutical company focused on developing treatments for pulmonary arterial hypertension that was acquired by Johnson & Johnson in 2017 for $30 billion, for around 10 years.
“We are extremely pleased to welcome Shal to CiVi Biopharma,” said Aaron Davis, Chief Executive Officer of Boxer Capital, and Executive Chairman of CiVi Biopharma. “As CiVi prepares to dose the first patient in January 2018 in its phase I clinical trial for the Company’s lead product candidate, CiVi007, a long-acting PCSK9 inhibitor being developed for the treatment of hypercholesterolemia and the prevention of cardiovascular disease, Shal’s vast knowledge of the treatment landscape for cardiovascular diseases will play a critical role in the Company’s future development plans. In addition, having served in various leadership roles in multiple healthcare-related settings, including as Chief Executive Officer of the ACC and President of Actelion Pharmaceuticals, Shal is uniquely positioned to lead CiVi’s next phase of growth.”
Mr. Jacobovitz served as Chief Executive Officer of the ACC from April 2013 through January 2018. In this role, he supported the development of the society’s strategic vision, led the ACC’s senior executive leadership team to ensure this strategy was appropriately executed on and represented the organization’s interests before key policy making bodies. In addition, Mr. Jacobovitz forged and cultivated strong relationships with other healthcare-related organizations globally to advance the mission of the ACC, and was responsible for the society’s fiscal health and the achievement of its budgetary goals. As President of Actelion, he was a member of the company’s business strategic management operating team responsible for developing and implementing Actelion’s corporate strategy globally. During this time, Mr. Jacobovitz helped grow the company’s revenues from $70 million to $950 million. He was also responsible for the business development and investor relations functions at Actelion. Prior to this, Mr. Jacobovitz served in increasingly senior positions at F. Hoffman LaRoche, from 1996-2003.
Mr. Jacobovitz received his B.S. in Biology from the University of Western Ontario, London, ON, Canada.
“I am very excited by the significant opportunity for CiVi to transform the treatment of cardiovascular diseases with PCSK9 therapies,” said Mr. Jacobovitz. “While novel PCSK9 inhibitors have generated compelling data to date, patient compliance and prohibitively high pricing remain as significant challenges for this promising class of drugs. Based on the profile of CiVi007 and previously generated pre-clinical data, our lead compound has the potential to lead to less frequent dosing and, therefore, greater patient compliance. In addition, due to the lower cost of goods associated with our third-generation antisense approach, we will have the opportunity to offer a reduced pricing model. We look forward to entering the clinic with CiVi007 very shortly, and to the availability of data from this phase I trial in mid-2018.”
About CiVi Biopharma
CiVi Biopharma Inc. is a US-based, privately-held biopharmaceutical company, founded in 2016. The Company's research and development activities are focused on creating novel therapies against cardiovascular and liver diseases. CiVi’s innovative pipeline includes CiVi007, a long-acting PCSK9 third-generation Locked Nucleic Acid antisense molecule being developed for the treatment of hypercholesterolemia and the prevention of cardiovascular disease. In addition, the Company has multiple ongoing clinical stage development programs aimed at treating severe liver diseases. CiVi completed a $40M series A financing with Boxer Capital of the Tavistock Group in January 2017.
CONTACT: Investors: Andrew McDonald
Founding Partner, LifeSci Advisors LLC
646-597-6987 | Andrew@lifesciadvisors.com
Source: CiVi Biopharma