Current Executive Vice President and Chief Executive Officer of Ipsen North America, and former Vice President and General Manager of Oncology at Amgen, Inc.; Brings Wealth of Leadership and Global Strategic Experience
NEWTON, Mass., Feb. 28, 2020 (GLOBE NEWSWIRE) -- Karyopharm Therapeutics Inc. (Nasdaq:KPTI), an oncology-focused pharmaceutical company, today announced the appointment of Richard Paulson to its Board of Directors. Mr. Paulson is currently Executive Vice President and Chief Executive Officer of Ipsen North America, a global biopharmaceutical company focused on innovation and specialty care. Prior to joining Ipsen, Mr. Paulson served as the Vice President and General Manager, U.S. Oncology Business Unit at Amgen, Inc., a leading global biotechnology company focused on areas of high unmet medical need.
“Mr. Paulson brings a wealth of leadership and global strategic experience as he has served in the leadership of some of the industry’s most innovative and commercially successful pharmaceutical companies,” said Michael G. Kauffman, MD, Ph.D., Chief Executive Officer of Karyopharm. “His track record of execution in leading growing companies, both in the U.S. and internationally, will be vital as we bring our lead asset, XPOVIO®, to patients across the globe and continue to expand our commercial reach. We are delighted to welcome him to the Karyopharm team and look forward to the insight he will provide to our Board of Directors.”
Mr. Paulson brings over 25 years of global biopharmaceutical industry experience, including various international leadership roles transforming organizations and developing highly successful teams across three continents, where he has launched best-in-class products across multiple therapeutic areas including oncology medicines. At Ipsen North America, he is responsible for driving continued growth in both the U.S. and Canadian markets across key therapeutics areas of oncology, neurology, and rare diseases. He is a member of the BIO Health Section Governing Board (HSGB) and an interim director on the PhRMA Board of Directors.
“I am excited to be joining the Board of Directors as Karyopharm continues to advance as a commercial stage company,” said Mr. Paulson. “I believe that XPOVIO has the opportunity to positively affect the lives of those living with cancer worldwide and I look forward to bringing my experience in global product commercialization and leadership to help guide the management team.”
Prior to joining Ipsen North America, Mr. Paulson had a 10-year career at Amgen. While at Amgen, he held numerous regional positions including General Manager, Central and Eastern Europe, and General Manager Germany, before leading Amgen’s U.S. Oncology Business Unit. Prior to joining Amgen, he held international positions in general management, marketing and market access at Pfizer. He also served in a number of sales and marketing roles with increasing seniority for GlaxoWellcome in Canada.
“Mr. Paulson is a passionate, global-minded biopharmaceutical leader who is extremely focused and strategic,” said Barry Greene, lead independent Director and Chair of the Nominating and Governance Committee. “We are thrilled to welcome such a strong industry leader to our Board of Directors.”
Mr. Paulson earned his undergraduate degree in Commerce from the University of Saskatchewan, Canada, and his MBA from the University of Toronto, Canada.
About XPOVIO® (selinexor)
XPOVIO is a first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound. XPOVIO functions by selectively binding to and inhibiting the nuclear export protein exportin 1 (XPO1, also called CRM1). XPOVIO blocks the nuclear export of tumor suppressor, growth regulatory and anti-inflammatory proteins, leading to accumulation of these proteins in the nucleus and enhancing their anti-cancer activity in the cell. The forced nuclear retention of these proteins can counteract a multitude of the oncogenic pathways that, unchecked, allow cancer cells with severe DNA damage to continue to grow and divide in an unrestrained fashion. Karyopharm received accelerated U.S. Food and Drug Administration (FDA) approval of XPOVIO in July 2019 in combination with dexamethasone for the treatment of adult patients with relapsed refractory multiple myeloma (RRMM) who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, at least two immunomodulatory agents, and an anti-CD38 monoclonal antibody, Karyopharm has also submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) with a request for conditional approval of selinexor. A supplemental New Drug Application was recently accepted by the FDA seeking accelerated approval for selinexor as a new treatment for adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), and selinexor has received Fast Track and Orphan designation from the FDA for this patient population. Selinexor is also being evaluated in several other mid-and later-phase clinical trials across multiple cancer indications, including in multiple myeloma in a pivotal, randomized Phase 3 study in combination with Velcade® (bortezomib) and low-dose dexamethasone (BOSTON), as a potential backbone therapy in combination with approved therapies (STOMP), in liposarcoma (SEAL) and in endometrial cancer (SIENDO), among others. Additional Phase 1, Phase 2 and Phase 3 studies are ongoing or currently planned, including multiple studies in combination with approved therapies in a variety of tumor types to further inform Karyopharm's clinical development priorities for selinexor. Additional clinical trial information for selinexor is available at www.clinicaltrials.gov.
About Karyopharm Therapeutics
Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is an oncology-focused pharmaceutical company dedicated to the discovery, development, and commercialization of novel first-in-class drugs directed against nuclear export and related targets for the treatment of cancer and other major diseases. Karyopharm's Selective Inhibitor of Nuclear Export (SINE) compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). Karyopharm’s lead compound, XPOVIO® (selinexor), received accelerated approval from the U.S. Food and Drug Administration (FDA) in July 2019 in combination with dexamethasone as a treatment for patients with heavily pretreated multiple myeloma. A Marketing Authorization Application for selinexor is also currently under review by the European Medicines Agency. A supplemental New Drug Application was recently accepted by the FDA seeking accelerated approval for selinexor as a new treatment for adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL). In addition to single-agent and combination activity against a variety of human cancers, SINE compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm has several investigational programs in clinical or preclinical development. For more information, please visit www.karyopharm.com.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding Karyopharm’s expectations relating to XPOVIO, including the commercialization of XPOVIO and the commercial performance of XPOVIO. Such statements are subject to numerous important factors, risks and uncertainties, many of which are beyond Karyopharm’s control, that may cause actual events or results to differ materially from Karyopharm’s current expectations. For example, there can be no guarantee that Karyopharm will successfully commercialize XPOVIO. Further, there can be no guarantee that any positive developments in the development or commercialization of Karyopharm’s drug candidate portfolio will result in stock price appreciation. Management’s expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other factors, including the following: adoption of XPOVIO in the commercial marketplace, the timing and costs involved in commercializing XPOVIO or any of Karyopharm’s drug candidates that receive regulatory approval; Karyopharm’s commercialization, marketing and manufacturing capabilities and strategy; the ability to retain regulatory approval of XPOVIO or any of Karyopharm’s drug candidates that receive regulatory approval; Karyopharm’s results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, including with respect to the need for additional clinical studies; the ability of Karyopharm or its third party collaborators or successors in interest to fully perform their respective obligations under the applicable agreement and the potential future financial implications of such agreement; Karyopharm’s ability to obtain and maintain requisite regulatory approvals and to enroll patients in its clinical trials; unplanned cash requirements and expenditures; development of drug candidates by Karyopharm’s competitors for diseases in which Karyopharm is currently developing its drug candidates; and Karyopharm’s ability to obtain, maintain and enforce patent and other intellectual property protection for any drug candidates it is developing. These and other risks are described under the caption “Risk Factors” in Karyopharm’s Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the Securities and Exchange Commission (SEC) on February 26, 2020, and in other filings that Karyopharm may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by law, Karyopharm expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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