Akari Therapeutics Appoints Biotechnology Industry Leader, Abizer Gaslightwala, as President and Chief Executive Officer
Former SVP and Franchise Head for US Oncology at Jazz Pharmaceuticals, with established track record for leading a portfolio of products spanning both solid and hematological malignancies that have total annual sales of $1B
Held several executive leadership roles at Amgen, Pfizer, and Johnson & Johnson across multiple brands including Kyprolis®, Vectibix®, Neulasta®, XGEVA®, Repatha®, and ELIQUIS®
Current President and CEO, Samir R. Patel, M.D., to remain as a member of the Company's Board of Directors
BOSTON and LONDON, March 20, 2025 (GLOBE NEWSWIRE) -- Akari Therapeutics Plc (NASDAQ:AKTX) ("Akari" or the "Company"), a biotechnology company developing next-generation precision bi-functional antibody drug conjugates ("ADCs") for the treatment of cancer, today announced the appointment of Abizer Gaslightwala as President and Chief Executive Officer ("CEO"), effective April 21, 2025.
Mr. Gaslightwala is a biotechnology and pharmaceutical industry veteran bringing 25 years of experience in the development and commercialization of novel medicines across a range of companies and therapeutic areas. He joins Akari having most recently served as the Senior Vice President and Franchise Head for US Oncology at Jazz Pharmaceuticals ("Jazz"). During his time at Jazz, Mr. Gaslightwala was responsible for a portfolio of products that have total annual sales reaching $1B. These brands include ZIIHERA® for HER2+ cancers, ZEPZELCA® for small cell lung cancer, and RYLAZE®, DEFITELIO®, and VYXEOS® for a range of hematological malignancies. As previously announced, Mr. Gaslightwala was appointed to Akari's Board of Directors (the "Board") in December 2024.
Samir Patel, MD, President and CEO of Akari Therapeutics stated, "It has been an honor to serve as CEO of Akari for the past 12 months. During my tenure, I am proud to have overseen the successful merger of Peak Bio and the Company. As Akari is now a targeted oncology company, this is the time to bring a seasoned oncology executive into the C-Suite. I look forward to welcoming Abizer as our new President and CEO, and supporting his efforts as I continue as a member of the Board."
Hoyoung Huh, MD, PhD, Chairman of Akari's Board commented, "Over the past year, Akari has evolved and made great strides across multiple fronts. Under the leadership and guidance of Dr. Patel since May 2024, Akari has thrived and positioned itself for continued success. We are incredibly grateful for his service and look forward to further leveraging his expertise as a member of our Board. Looking ahead, we are very pleased to welcome Abizer as our CEO. Over the course of his career, he has demonstrated a compelling track record and amassed a set of skills we believe will continue Akari's momentum and drive innovation and growth."
Mr. Gaslightwala commented, "I am honored to expand my role with Akari and step in as President and CEO. I believe Akari's next-generation ADCs incorporating novel payloads provide significant advantages over current ADCs with traditional payloads. Akari's platform presents a compelling opportunity to pursue breakthrough therapies for cancer patients, as well as the opportunity to work with leading immunotherapy companies to seek to transcend current cancer treatment paradigms. Because this platform can generate multiple novel ADC candidates across a range of solid/hematological cancers, I believe Akari is well positioned to generate value in the near and long term. I look forward to taking on this leadership role soon to continue advancing Akari's ADC candidates for the treatment of cancer, and potentially bring transformative therapies to patients in need."
Prior to his position at Jazz, Mr. Gaslightwala has held several leadership roles at Amgen Inc., Pfizer Inc., and Johnson & Johnson across multiple brands including Kyprolis®, Vectibix®, Neulasta®, XGEVA®, Repatha®, and ELIQUIS®. His experience spans business unit leadership, brand marketing, sales leadership, commercial pipeline planning, advanced analytics and insights, and business development. Mr. Gaslightwala also helped lead R&D strategic planning within the autoimmune/inflammation portfolio at Johnson & Johnson, as well as lead commercial planning for Remicade® and several novel pipeline molecules focused on rheumatoid arthritis, inflammatory bowel disease, psoriasis, and atopic dermatitis. Additionally, Mr. Gaslightwala advised several life science companies through his time at the Boston Consulting Group.
Mr. Gaslightwala holds a BS in Chemical Engineering from Cornell University, an MBA from the Massachusetts Institute of Technology ("MIT") Sloan School of Management, and an MS in Chemical Engineering from MIT.
About Akari Therapeutics
Akari Therapeutics is a biotechnology company developing next-generation precision bi-functional antibody drug conjugates (ADC) for the treatment of cancer. Utilizing its innovative ADC discovery platform, the Company has the ability to generate novel bi-functional ADC candidates and optimize them based on the desired application to target a range of cancers to fuel a growing pipeline. Akari's lead candidate, AKTX-101, targets the TROP2 receptor on cancer cells and with a proprietary linker, delivers its novel PH1 payload directly into the tumor. Unlike current ADCs that use tubulin inhibitors and DNA damaging agents as their toxin classes, PH1 is a novel bi-functional payload that is designed to disrupt RNA splicing within cancer cells, inducing tumor-specific cell death while generating immunostimulatory effects and minimizing off-target toxicity. Given this mechanism, AKTX-101 has the potential to overcome many of the shortcomings of current ADCs, off-target toxicity and resistance. In preclinical studies, AKTX-101 has shown to have superior activity, prolonged survival, less resistance and better tolerability and safety. Additionally, AKTX-101 has the potential to be synergistic with checkpoint inhibitors and has demonstrated prolonged survival in preclinical models. The Company is generating validating data on its novel payloads to advance its pipeline.
For more information about the Company, please visit www.akaritx.com and connect on X and LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release includes express or implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about the Company that involve risks and uncertainties relating to future events and the future performance of the Company. Actual events or results may differ materially from these forward-looking statements. Words such as "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "future," "opportunity" "will likely result," "target," variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied statements regarding the ability of the Company to advance its product candidates for the treatment of cancer and any other diseases, and ultimately bring therapies to patients; the Company's targets, plans, objectives or goals for future operations, including those related to its product candidates; financial projections; future economic performance; and the assumptions underlying or relating to such statements. These statements are based on the Company's current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. A number of important factors, including those described in this communication, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the business; risks related to global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations; potential delays or failures related to research and/or development of the Company's programs or product candidates; risks related to any loss of the Company's patents or other intellectual property rights; any interruptions of the supply chain for raw materials or manufacturing for the Company's product candidates, including as a result of potential tariffs; the nature, timing, cost and possible success and therapeutic applications of product candidates being developed by the Company and/or its collaborators or licensees; the extent to which the results from the research and development programs conducted by the Company, and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; uncertainty of the utilization, market acceptance, and commercial success of the Company's product candidates; risks related to competition for the Company's product candidates; and the Company's ability to successfully develop or commercialize its product candidates. While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release except as required by law.
Investor Relations Contact
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Jenene Thomas
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