AVEO Oncology Announces Appointment of Scarlett Spring to its Board of Directors

CAMBRIDGE, Mass.–(BUSINESS WIRE)–AVEO Oncology (NASDAQ: AVEO) today announced the appointment of Scarlett Spring to its Board of Directors. Ms. Spring brings to AVEO extensive sales, commercial, and leadership experience in the biopharmaceutical and life sciences industries.

“It is a pleasure to welcome Scarlett to our Board of Directors,” said Michael Bailey, president and chief executive officer of AVEO. “Her experience and proven track record across a wide spectrum of roles within the industry will be of great value at this crucial juncture for AVEO. We look forward to leveraging her expertise as we lay the groundwork for our potential transition to a commercial entity and continue to execute on advancing our pipeline.”

“I am excited to be joining the Board of Directors at such an essential time for AVEO,” said Ms. Spring. “AVEO has a unique and meaningful opportunity in tivozanib to potentially impact the treatment of kidney cancer. I look forward to working alongside the Board and management team to help ensure that tivozanib and the AVEO pipeline realize their full potential.”

Ms. Spring currently serves as Co-Founder and Chief Executive Officer of TapRoot Interventions & Solutions, a platform technology company focused on providing real-time, tailored interventions to caregivers managing patients with Alzheimer’s and dementia behaviors. She previously served as President and Chief Commercial Officer for VisionGate, Inc., a clinical-stage pharmaceutical and diagnostics company developing products for the early detection, prevention, and treatment of lung cancer. Prior to VisionGate, Ms. Spring served in various sales and commercial roles of increasing responsibility at Merck and AstraZeneca Pharmaceuticals. At AstraZeneca, she was involved in the successful launches of Prilosec^®, Nexium^®, Crestor^® and Iressa^®, and managed the hormonal portfolio for AstraZeneca Oncology.

Ms. Spring also previously served as Executive Vice President and Chief Operating Officer of the Greater Phoenix Economic Council. She currently serves on the Arizona Bioscience Board and Risk Capital Committee of the Flinn Foundation, as well as on the Boards of Republic Bank of Arizona and the Arizona Sports and Tourism Authority. She received a Bachelor’s degree in Marketing from the University of Texas at Austin and a Master’s in Business Administration from Pepperdine University.

About AVEO

AVEO Pharmaceuticals is a biopharmaceutical company seeking to advance targeted medicines for oncology and other unmet medical needs. The Company’s lead candidate is tivozanib, a potent, selective, long half-life inhibitor of vascular endothelial growth factor 1, 2 and 3 receptors, which AVEO is seeking to develop and commercialize in North America as a treatment for renal cell carcinoma (RCC), hepatocellular carcinoma (HCC) and other cancers. Tivozanib (FOTIVDA^®) is approved by the European Commission for the treatment of adult patients with advanced RCC in the European Union plus Norway, New Zealand and Iceland. AVEO is leveraging or seeks to leverage partnerships to develop and commercialize its pipeline of products and product candidates, including tivozanib in oncology and other indications in various geographies, and ficlatuzumab (HGF MAb) in head and neck cancer, pancreatic cancer and acute myeloid leukemia. AVEO’s earlier-stage pipeline includes AV-203 (anti-ErbB3 MAb), AV-380 (GDF15 MAb) and AV-353 (Notch 3 MAb) drug candidates being developed for various oncology indications.

For more information, please visit the Company’s website at www.aveooncology.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements of AVEO within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. The words “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “potential,” “could,” “should,” “would,” “seek,” “look forward,” “advance,” “goal,” “strategy,” or the negative of these terms or other similar expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among others, statements about: the potential for tivozanib as a treatment option for patients with relapsed/refractory or advanced RCC; the potential efficacy, safety, and tolerability of tivozanib, both as a stand-alone drug candidate and in combination with other therapies in several indications; AVEO’s plans and strategies for commercialization of tivozanib in the United States and Europe; and AVEO’s strategy, prospects, plans and objectives for its product candidates and for the Company generally. AVEO has based its expectations and estimates on assumptions that may prove to be incorrect. As a result, readers are cautioned not to place undue reliance on these expectations and estimates. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that AVEO makes due to a number of important factors, including risks relating to: AVEO’s ability, and the ability of its licensees, to demonstrate to the satisfaction of applicable regulatory agencies such as the FDA the safety, efficacy and clinically meaningful benefit of AVEO’s product candidates, including, in particular, tivozanib and ficlatuzumab; AVEO’s ability to successfully file an NDA for tivozanib; and AVEO’s ability to enter into and maintain its third party collaboration and license agreements, and its ability, and the ability of its strategic partners, to achieve development and commercialization objectives under these arrangements. AVEO faces other risks relating to its business as well, including risks relating to the timing and costs of seeking and obtaining regulatory approval; AVEO’s and its collaborators’ ability to successfully enroll and complete clinical trials; AVEO’s ability to maintain compliance with regulatory requirements applicable to its product candidates; AVEO’s ability to obtain and maintain adequate protection for intellectual property rights relating to its product candidates; AVEO’s ability to successfully implement its strategic plans; AVEO’s ability to raise the substantial additional funds required to achieve its goals, including those goals pertaining to the development and commercialization of tivozanib; unplanned capital requirements; adverse general economic and industry conditions; competitive factors; and those risks discussed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” included in AVEO’s quarterly and annual reports on file with the Securities and Exchange Commission (SEC) and in other filings that AVEO makes with the SEC. The forward-looking statements in this press release represent AVEO’s views as of the date of this press release, and subsequent events and developments may cause its views to change. While AVEO may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. You should, therefore, not rely on these forward-looking statements as representing AVEO’s views as of any date other than the date of this press release. Any reference to AVEO’s website address in this press release is intended to be an inactive textual reference only and not an active hyperlink.

Contacts

AVEO:
David Pitts, Argot Partners

(212) 600-1902

[email protected]