Elevar Therapeutics’ Board of Directors Appoints Alex S. Kim as New CEO
SALT LAKE CITY, USA. The Board of Directors of Elevar Therapeutics has appointed Mr. Alex Kim to the position of Chief Executive Officer to succeed Dr. Sung Chul Kim as the head executive of the Company effective August 31, 2019. Dr. Sung Chul Kim, who is a co-founder, will transition from his current role as President.
With the completion of the Company’s first global pivotal trial of Rivoceranib and numerous corporate and licensing transactions in discussion, the Board of Directors unanimously voted to appoint Mr. Kim to the CEO position. He has been serving as Executive Vice President over corporate development. Mr. Kim first joined Elevar Therapeutics (formerly LSK BioPharma) in May of 2007 and has played an integral role in transforming the company from a small consulting firm to a pharmaceutical company with a pivotal stage cancer drug.
“Alex is a dynamic leader with relevant experience in operations, finance, and business development,” said Anton Gueth, an Elevar Therapeutics’ Board Member, “The Board has full confidence that he will be an excellent CEO during this time of extraordinary growth.”
Mr. Kim has 30 years of experience in the pharmaceutical industry playing key roles in multiple companies which developed successful products. As a respected executive leader in the pharmaceutical industry, he draws upon in-depth experience that has taken him from business analysis to business development, operations, capital fundraising, M&A and licensing deals, and overall growth strategy. His background spans startups to multimillion-dollar pharmaceutical and specialty pharma businesses, and his multinational strengths have enabled the reach of approved therapies into new markets across the U.S., Europe, and Asia.
About Rivoceranib (Apatinib)
Rivoceranib is the first successful small-molecule angiogenesis inhibitor in gastric cancer. Rivoceranib acts by inhibiting angiogenesis, a critical process in cancer growth and proliferation. Specifically, rivoceranib selectively inhibits VEGFR-2 which mediates the primary pathway for tumor-mediated angiogenesis. It was approved in China (advanced gastric cancer, Dec 2014) where it is marketed by the Chinese-territory license-holder Jiangsu Hengrui Medicine Co., Ltd. Elevar Therapeutics holds the global rights (ex-China). The Company has completed a global (12 countries including US, Japan, Korea, Italy, Germany, and Russia) Phase 3 clinical trial of rivoceranib in advanced or metastatic gastric cancer patients. Elevar Therapeutics is also developing rivoceranib for the treatment of patients with earlier lines of gastric cancer, colorectal cancer, hepatocellular carcinoma, and adenoid cystic carcinoma. Rivoceranib has been clinically tested in over 1,000 patients worldwide and has demonstrated efficacy in numerous cancers including gastric cancer, CRC, HCC, NSCLC, esophageal cancer, thyroid cancer, mesothelioma, and neuroendocrine tumors. It has also shown potential to significantly improve clinical outcomes in combination with chemotherapeutics and immunotherapy, as well as for maintenance therapy. Elevar Therapeutics has received notification designating rivoceranib as an orphan medicinal product for the treatment of gastric cancer from the European Commission in the European Union, the US FDA, as well as the MFDS in South Korea.
About Elevar Therapeutics (formerly LSK
Elevar Therapeutics is a privately-held biopharmaceutical company with offices in Utah, California, and South Korea. The Company aims to provide patients and their caregivers with exceptional choices for effective and well-tolerated therapies. Elevar Therapeutics’ lead proprietary drug candidates is rivoceranib, a selective VEGFR-2 inhibitor which has demonstrated clinical efficacy in a variety of solid tumors. Elevar Therapeutics can be found on the web at www.elevartherapeutics.com.