Glenmark Pharmaceuticals Announces Appointment of Alessandro Riva as CEO of its New Innovation Company

MUMBAI, India and PARAMUS, N.J., March 5, 2019 /PRNewswire/ -- Glenmark Pharmaceuticals, a research-led, integrated global pharmaceutical company, today announced that Alessandro Riva, MD, will join its new innovation company as Chief Executive Officer. Alessandro is currently Executive Vice President, Oncology Therapeutics and Cell Therapy for Gilead Sciences. The appointment is effective April 2, 2019.

Glenmark Pharmaceuticals announced on February 14, 2019, the in-principle approval from its Board of Directors to spin off the innovation business into a new company headquartered in the US. The new company will be a wholly-owned subsidiary of Glenmark and will operate with Alessandro Riva as the CEO, a management team and an independent Board of Directors.

"We are pleased that Alessandro will assume the role of CEO of the new innovation business," said Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals. "His extensive and diverse industry experience leading global R&D will no doubt be invaluable in driving our pipeline towards commercialization. We are excited for this major step as a company and are confident Alessandro's talent and leadership will shape the innovation business into a major global biotech company."

Alessandro is with Gilead Sciences, where he is the Executive Vice President, Head of Oncology Therapeutics and Head of Cell Therapy. As part of the Gilead senior leadership team and executive committee member, he is responsible for leading the oncology R&D program and support functions, defining the strategic direction for the oncology therapeutic unit. In addition, he plays a critical role in key corporate initiatives including strategic acquisition, partnering and business development. Prior to joining Gilead, Alessandro spent 12 years with Novartis where he was the Executive Vice President and Head of Global Oncology Development and Medical Affairs in the Oncology Business Unit, managing a global group of more than 2,500 associates. He also served as Interim President of the Novartis Oncology Business Unit during the acquisition of GSK Oncology. Prior to his time at Novartis, Alessandro held leadership roles with Rhône-Poulenc Rorer and Aventis, France.

"I'm excited to join a company so committed to driving business through entrepreneurial innovation. The novel technology and diverse pipeline, which includes clinical-stage candidates on track to progress rapidly, has the potential to differentiate in areas of unmet need," said Alessandro Riva. "I'm looking forward to bringing my experience to lead the company and work together with highly experienced teams to deliver first-in-class therapies to the patients who need them the most."

The new innovation company will be headquartered in Paramus, New Jersey. Global locations include two R&D centers in Switzerland, the R&D center at Mahape, Navi Mumbai, India, and the GMP biologics manufacturing facility in Switzerland. The new company will include approximately 400 employees working to provide an enhanced focus on the innovation business and help accelerate the pipeline towards commercialization.

About the Innovative Pipeline:

The current pipeline has eight assets, including new chemical entities (NCEs) and new biological entities (NBEs), in various stages of development in the areas of immunology, oncology and pain management. The pipeline includes an immuno-oncology pipeline with three bispecific antibodies developed through Glenmark's proprietary BEAT^® (Bispecific Engagement by Antibodies based on the T cell receptor) platform. Of the five clinical and three preclinical assets in development, three clinical assets are currently in Phase 2b, and one asset is likely to enter Phase 2b in FY20.

Oncology: Includes four assets, two of which are in Phase 1 clinical development. GBR 1302, a HER2xCD3 bispecific antibody (bsAb), is being evaluated for HER2 positive cancers and GBR 1342, a CD38xCD3 bsAb is being studied for multiple myeloma and other malignancies of hematopoietic origin, as well as a variety of solid tumors. The other two assets in preclinical studies are GBR 1372, an EGFRxCD3 bsAb being evaluated for treatment of colorectal cancer and a small molecule oncology program based on tumor antigen presenting biology.

Immunology: Includes two assets. GBR 830, an anti-OX40R monoclonal antibody, is the lead biologic candidate currently in Phase 2b clinical development for the treatment of moderate-to-severe atopic dermatitis. Additional studies for GBR 830 are planned for the potential treatment of systemic lupus erythematosus (SLE) and ulcerative colitis (UC). The second asset is GRC 39815, a new chemical entity, currently being evaluated in preclinical studies as an inhaled compound for the possible treatment of Chronic Obstructive Pulmonary Disorder (COPD). GRC 39815 is an inhibitor of the Retinoid-related Orphan Receptor gamma t (RORγt).

Pain: Includes two assets in clinical studies: GRC 27864, a non-opioid, potent, selective and orally bioavailable inhibitor of microsomal prostaglandin E synthase-1 (mPGES-1), is currently being evaluated in Phase 2b clinical development for osteoarthritic pain. GRC 17536, a TRPA1 antagonist, has completed a Phase 2a proof of concept study in patients with painful diabetic neuropathy.

About Glenmark Pharmaceuticals:

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization with operations in more than 80 countries. It is ranked among the top 75 Pharma & Biotech companies of the world in terms of revenue (SCRIP 100 Rankings published in the year 2018). Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). Glenmark has several molecules in various stages of clinical development and is focused in the areas of oncology, immunology and pain.

SOURCE Glenmark Pharmaceuticals