Savara Announces Chief Medical Officer (CMO) Transition
-- Yasmine Wasfi, M.D., Ph.D., FCCP Promoted to CMO, Effective Immediately --
-- CMO Ray Pratt, M.D., FACP to Transition to Senior Medical Advisor --
Savara Inc. (NASDAQ:SVRA) (the Company), a clinical stage biopharmaceutical company focused on rare respiratory diseases, today announced Yasmine Wasfi, M.D., Ph.D., FCCP has been promoted to CMO, effective immediately. She succeeds Ray Pratt, M.D., FACP who will transition from his current role to Senior Medical Advisor. Dr. Wasfi will report directly to the Company's Chair and Chief Executive Officer and will serve as a member of the executive leadership team. Previously, Dr. Wasfi was Executive Vice President, Head of Clinical Development and Clinical Operations at Savara.
"We are pleased to promote Dr. Wasfi to CMO," said Matt Pauls, J.D., M.B.A., Chair and Chief Executive Officer, Savara. "Dr. Wasfi is a pulmonologist with more than two decades of healthcare experience, spanning both biotech and large pharma. She has a strong track record progressing and driving the development strategy for investigational therapies within the respiratory and immunology therapeutic areas and her leadership and relentless commitment to the autoimmune pulmonary alveolar proteinosis, or autoimmune PAP, patient community has been instrumental in helping advance the MOLBREEVI* program. We appreciate Dr. Wasfi's contributions to date and look forward to the insights and direction she will bring in her new role."
Pauls continued, "Having contributed to many regulatory applications over the span of his 35 years in drug development, we are grateful to benefit from Dr. Pratt's experience and thank him for his invaluable contributions in advancing the MOLBREEVI program. We are fortunate to continue with his guidance as a Senior Medical Advisor."
"I'd like to congratulate Dr. Wasfi on her promotion," said Ray Pratt, M.D., FACP, CMO, Savara. "She brings significant experience in biopharmaceuticals to this role and has already made important contributions to our clinical development and regulatory efforts. It's been a privilege to lead the MOLBREEVI clinical program through numerous late-stage milestones as we work to bring the first and only approved therapy for autoimmune PAP to market in the U.S. and Europe. I look forward to continue supporting the Company in my role as Senior Medical Advisor."
Dr. Wasfi is a seasoned professional within clinical research and drug development of both large and small molecule novel therapeutics. Her clinical development work includes respiratory drug development and late-phase immunology clinical development. Dr. Wasfi has held roles of increasing responsibility within large pharmaceutical and smaller biotech companies, including Amicus Therapeutics, Johnson & Johnson, and Merck. She received a B.A. in Biology from the University of Delaware, M.D. from the University of Pennsylvania School of Medicine, and Ph.D. in Clinical Science from the University of Colorado Health Sciences Center. She completed her internship and residency in internal medicine at the Hospital of the University of Pennsylvania, and her fellowship in Pulmonary and Critical Care at the University of Colorado Health Sciences Center.
Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Our lead program, MOLBREEVI*, is a recombinant human granulocyte-macrophage colony-stimulating factor (GM-CSF) in Phase 3 development for autoimmune pulmonary alveolar proteinosis (autoimmune PAP). MOLBREEVI is delivered via a proprietary investigational eFlow® Nebulizer System (PARI Pharma GmbH) specifically developed for inhalation of MOLBREEVI. Our management team has significant experience in rare respiratory diseases and pulmonary medicine, identifying unmet needs, and effectively advancing product candidates to approval and commercialization. More information can be found at www.savarapharma.com and LinkedIn.
*MOLBREEVI is the FDA and EMA conditionally accepted trade name for molgramostim inhalation solution. It is not approved in any indication. MOLBREEVI is a trademark of Savara Inc.
Forward-Looking Statements
Savara cautions you that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as "expect," "intend," "plan," "anticipate," "believe," and "will," among others. Such statements include, but are not limited to, statements related to the potential for MOLBREEVI to be the first and only approved therapy for autoimmune PAP on the market in the U.S. and Europe. Savara may not actually achieve any of the matters referred to in such forward-looking statements, and you should not place undue reliance on these forward-looking statements. These forward-looking statements are based upon Savara's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the risks associated with our ability to successfully develop, obtain regulatory approval for, and commercialize MOLBREEVI for autoimmune PAP; the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations; the availability of sufficient resources for Savara's operations and to conduct or continue planned clinical development programs; and the timing and ability of Savara to raise additional capital as needed to fund continued operations. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. For a detailed description of our risks and uncertainties, you are encouraged to review our documents filed with the SEC including our recent filings on Form 8-K, Form 10-K and Form 10-Q. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Savara undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
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Media and Investor Relations Contact
Savara Inc.
Temre Johnson, Executive Director, Corporate Affairs
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