Coherus BioSciences Appoints Dr. Michael Ryan to its Board of Directors
– Recognized biopharma commercialization and market access leader to support Coherus' strategic vision and multiple product launches –
REDWOOD CITY, Calif., July 20, 2023 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (("Coherus" or the "Company", NASDAQ:CHRS), today announced the appointment to its Board of Directors of biopharma commercialization and market access expert Michael Ryan, Pharm. D. Dr. Ryan has four decades of experience working in academia and the biopharmaceutical industry bringing high-value therapeutics to patients. Dr. Ryan's distinguished career includes most recently serving as Senior Vice President and Head for U.S. and Worldwide Value, Access, Pricing and Health Economics and Outcomes Research for Bristol Myers Squibb ("BMS") for over seven years. In this role, Dr. Ryan was responsible for more than 1,600 staff in 64 countries who were responsible for Strategic Payer Marketing, Pricing and Contracting, Real World Evidence Generation & Analytics, Access Clinical Development, Payer and Organized Customer Sales, Market Access Scientific Liaison Program, and Health Economics and Outcomes Research across the $44 billion BMS worldwide biopharmaceutical and biomarker portfolio.
Dr. Ryan is Chair of the Board of the National Pharmaceutical Council ("NPC") and remains an Executive Advisor to BMS. He has served on the boards of PhRMA, BIO, NPC, the University of Southern California Schaeffer Center for Health Policy, and the Universities of Michigan College of Pharmacy and the University of California at San Francisco ("UCSF") School of Pharmacy.
"We are thrilled to have a biopharma commercialization leader of Dr. Ryan's caliber join our Board of Directors. Mike brings to Coherus his wealth of experience in market access and health economics from his distinguished tenure at Bristol-Myers Squibb as well as other companies at a national and global level," said Denny Lanfear, chief executive officer of Coherus. "His extensive expertise will provide invaluable insights as we continue to launch new products and advance our pipeline of innovative therapies to extend patient survival."
"I have spent my career focused on delivering patient benefit and value across the biopharma industry and found Coherus' mission to develop new treatments to extend survival for cancer patients, as well as increasing access to important medicines, highly consistent with my own personal values," said Dr. Ryan. "Coherus has assembled a strong executive team to execute on a very sound strategy, and I look forward to collaborating with them and the Board to realize its full potential."
Prior to joining BMS, Dr. Ryan spent 16 years at Amgen, serving in roles including Vice President and General Manager of the Nephrology Business Unit, where he was responsible for the P&L and life cycle management of three products used to treat patients with kidney disease: Epogen®, Aranesp® and Sensipar®.
Dr. Ryan is currently the founder and chief executive officer of Koios Enterprises & Consulting, an executive consulting firm specializing in patient access with a focus on evidence generation, value, pricing and policy solutions that enable patient access. Dr. Ryan is a graduate of the University of California at Los Angeles and UCSF and completed his residency program at the University of Michigan. After completing his residency, Dr. Ryan directed clinical pharmacy research, education and operations at the University of Pittsburgh School of Pharmacy and University of Michigan College of Pharmacy.
About Coherus BioSciences
Coherus is a commercial-stage biopharmaceutical company focused on the research, development and commercialization of innovative immunotherapies to treat cancer. Coherus' strategy is to build a leading immuno-oncology franchise funded with cash generated through net sales of its diversified portfolio of FDA-approved therapeutics.
In 2021, Coherus in-licensed toripalimab, an anti-PD-1 antibody, in the United States and Canada. The Biologics License Application for toripalimab in combination with chemotherapy as treatment for recurrent or metastatic nasopharyngeal carcinoma is currently under review by the FDA.
Coherus markets UDENYCA® (pegfilgrastim-cbqv), a biosimilar of Neulasta®, CIMERLI® (ranibizumab-eqrn), a biosimilar of Lucentis®, and YUSIMRY™ (adalimumab-aqvh), a biosimilar of Humira®.
Forward-Looking Statements
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Coherus' ability to build its immuno-oncology franchise to achieve a leading market position; Coherus' ability to generate cash; Coherus' investment plans; Coherus' ability to launch new products, advance its pipeline and extend patient survival.
Such forward-looking statements involve substantial risks and uncertainties that could cause Coherus' actual results, performance, or achievements to differ significantly from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, risks related to our existing and potential collaboration partners, the risks and uncertainties inherent in the clinical drug development process; risks of the drug development position of Coherus' competitors; the risks and uncertainties of the regulatory approval process, including the speed of regulatory review, the risk of FDA review issues; and the risks and uncertainties of possible litigation. All forward-looking statements contained in this press release speak only as of the date of this press release. Coherus undertakes no obligation to update or revise any forward-looking statements. For a further description of the significant risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Coherus' business in general, see Coherus' Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023, filed with the Securities and Exchange Commission on May 8, 2023, including the section therein captioned "Risk Factors" and in other documents that Coherus files with the Securities and Exchange Commission.
UDENYCA®, CIMERLI® and YUSIMRY™, whether or not appearing in large print or with the trademark symbol, are trademarks of Coherus, its affiliates, related companies or its licensors or joint venture partners unless otherwise noted. Trademarks and trade names of other companies appearing in this press release are, to the knowledge of Coherus, the property of their respective owners.
Coherus BioSciences Contact Information:
IR Contact
Marek Ciszewski, J.D.
SVP, Investor Relations
[email protected]
Media Contact
Jodi Sievers
VP, Corporate Communications
[email protected]
