Lebanon-based Provention Bio Inc. a clinical-stage biopharmaceutical company, announced it has appointed new members to its executive management team.
Andrew Drechsler has been named chief financial officer and Francisco Leon, co-founder of the company, has been named chief scientific officer.
“We are also very pleased to officially welcome Francisco to Provention’s executive team as our chief scientific officer. Francisco’s unique combination of scientific acumen and entrepreneurial vision, and prior experience as vice president and head of translational medicine/immunology at Johnson & Johnson’s Janssen Pharmaceuticals, were critical to the founding of Provention and the establishment of our mission to intercept and prevent immune-mediated disease,” CEO Ashleigh Palmer said.
The company also recently added Eleanor Ramos as its chief medical officer and chief operating officer.
Drechsler, who has more than 20 years of financial and life sciences industry experience, will be responsible for leading the company’s financial and capital markets activities. Prior to Provention, he was chief financial officer at a variety of biopharmaceutical companies, including Insmed Inc., VaxInnate Corp. and Valera Pharmaceuticals.
“Provention has moved rapidly to put in place its operational infrastructure following its inception and founding financing earlier this year. The appointment of Andy as our chief financial officer signifies an important step as we aggressively pursue our mission and look to finance our existing and future pipeline of novel therapeutics and cutting-edge solutions to intercept chronic autoimmune and inflammatory diseases. Maximizing our current financial resources from our $28.4 million founding financing earlier this year and also securing new capital will be key to our success. Andy will be instrumental in these endeavors as well as infusing Provention with substantial proven experience and expertise in operating both private and public biopharmaceutical companies,” Ashleigh Palmer, co-founder and CEO of Provention, said.
Drechsler said, “In just a few months, Provention has moved rapidly to in-license several promising assets, put in place its operational infrastructure, and complete a successful founding financing. Provention has the ability to become a potentially disruptive force in the biotechnology industry by leveraging a unique transformative drug development strategy that seeks to source already de-risked immunology assets towards opportunities focused on intercepting and preventing immune-mediated disease. I am very excited to work with Ashleigh and the executive team to leverage what I believe is a unique, value creating opportunity.”