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Achillion Announces Nicole Vitullo Elected to Chair the Board of Directors
Nicole Vitullo Brings Public Company Investment and Leadership Expertise as the next Chair of Achillion Board of Directors
NEW HAVEN, Conn., Jan. 03, 2019 (GLOBE NEWSWIRE) -- Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN), a clinical-stage biopharmaceutical company dedicated to transforming the lives of patients and families affected by disorders of the complement system, today announced that the Company’s Board of Directors has elected Nicole Vitullo Chair. Ms. Vitullo is a partner with Domain Associates LLC and has been a member of Achillion's Board of Directors since September 2010. As Chair, she replaces David Scheer, who has served on the Achillion Board since 1998 and was elected Chair in March 2010. Mr. Scheer will remain on the Board of Directors of the Company.
“Nicole’s successful track record and experience advising and helping grow public healthcare companies makes her an excellent choice for this leadership position as we continue to advance Achillion,” said Mr. Scheer. “We believe Achillion is well positioned to drive its complement factor D inhibitor programs into late-stage development and achieve its goal to offer patients new and innovative treatments for immune-related diseases associated with the complement alternative pathway.”
Ms. Vitullo, commented, “Achillion is an exciting clinical stage biopharmaceutical company with a compelling and promising platform. I am honored to serve as Chair and look forward to working with David, the other Board members and the Achillion management team to create both near-term and long-term value for our shareholders. I would also like to thank David for his leadership and his significant contributions to Achillion throughout his tenure.”
Ms. Vitullo serves as a partner at Domain Associates LLC, a healthcare-focused private equity firm. For more than a decade, Ms. Vitullo was responsible for Domain Public Equity Partners L.P., a fund focused on private investments in public companies. Ms. Vitullo joined Domain Associates in 1999 and became a Partner in 2004. Prior to Domain, she was senior vice president at Rothschild Asset Management, Inc. where she had responsibility for the U.S. public market investments of International Biotechnology Trust plc and Biotechnology Investments Limited. Ms. Vitullo currently also serves on the Board of Directors of Celtaxsys, Esperion Therapeutics, Marinus Pharmaceuticals and Antios Therapeutics. She received a B.A. in mathematics and an MBA in finance from the University of Rochester.
About Achillion Pharmaceuticals
Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN) is a clinical-stage biopharmaceutical company focused on advancing its oral factor D inhibitors into late-stage development and commercialization. Factor D is an essential enzyme in the alternative pathway of the complement system, a part of the innate immune system. Achillion is initially focusing its drug development activities on alternative pathway-mediated diseases where there are no approved therapies or where existing therapies are inadequate for patients. Potential indications being evaluated for its compounds include paroxysmal nocturnal hemoglobinuria (PNH), C3 glomerulopathy (C3G), and immune complex mediated membranoproliferative glomerulonephritis (IC-MPGN). Each of the product candidates in the Company’s oral factor D portfolio was discovered in its laboratories and is wholly owned. To advance its investigational product candidates into Phase 3 clinical trials and commercialization, the Company plans to work closely with key stakeholders including patients, payors, regulators and healthcare professionals. More information is available at http://www.achillion.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Achillion may use words such as “expect,” “anticipate,” “project,” “target,” “intend,” “plan,” “aim,” “believe,” “seek,” “estimate,” “can,” “could” “focus,” “will,” “look forward,” “continue,” “goal,” “strategy,” “objective,” “may,” “potential,” and similar expressions to identify such forward-looking statements. These forward-looking statements also include statements about: the potential benefits of factor D inhibition as a treatment for complement-mediated diseases; the potential benefits of, and indications for, Achillion’s compounds that inhibit factor D, including ACH-4471, ACH-5228 and ACH-5548; Achillion’s belief that its portfolio of compounds could expand factor D portfolio opportunities, provide strategic optionality or create significant value; Achillion’s expectations regarding the advancement of, and timeline for reporting results from, clinical trials of its product candidates as well as its ability to advance additional compounds; and other statements concerning Achillion’s strategic goals, efforts, plans, and prospects. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, Achillion’s ability to: demonstrate in any current and future clinical trials the requisite safety, efficacy and combinability of its product candidates; advance the preclinical and clinical development of its complement factor D inhibitors under the timelines it projects in current and future preclinical studies and clinical trials; enroll patients in its clinical trials on its projected timelines; obtain and maintain patent protection for its product candidates and the freedom to operate under third party intellectual property; obtain and maintain necessary regulatory approvals, and the granting of orphan designation does not alter the standard regulatory requirements and process for obtaining such approval; establish commercial manufacturing arrangements; identify, enter into and maintain collaboration and other commercial agreements with third-parties; compete successfully in the markets in which it seeks to develop and commercialize its product candidates and future products; manage expenses; manage litigation; raise the substantial additional capital needed to achieve its business objectives; and successfully execute on its business strategies. These and other risks are described in the reports filed by Achillion with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2018, and any other SEC filings that Achillion makes from time to time.
In addition, any forward-looking statement in this press release represents Achillion's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Achillion disclaims any duty to update any forward-looking statement, except as required by applicable law.
Investors & Media:
Brian Di Donato
Vice President, Investor Relations and Corporate Communications
Achillion Pharmaceuticals, Inc.
Tel. (215) 709-3032