Press Releases 01.06.2016
Seres Therapeutics Announces Appointment of Wael Hashad as Chief Commercial Officer
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 6, 2016-- Seres Therapeutics Inc. (NASDAQ:MCRB), a leading microbiome therapeutics company, announced today that it has appointed Wael Hashad as Chief Commercial Officer and Executive Vice President.
In this newly created role, Hashad will be responsible for all activities related to the anticipated commercialization of the company’s products in development, including SER-109, which is currently in a Phase 2 clinical study for recurring Clostridium Difficile infection (CDI). He will report to Roger Pomerantz, M.D., President, Chief Executive Officer and Chairman of Seres.
“As we prepare to move into late-stage development, we are looking forward to commercializing Seres’ first-in-field microbiome therapies worldwide,” said Dr. Pomerantz. “Wael brings tremendous experience at top companies across diverse therapeutic areas in markets throughout the world. His expertise will be a valuable addition to our leadership team.”
Hashad joins Seres with more than 25 years of experience successfully launching first- and best-in-class therapies for leading companies in the biotechnology and pharmaceutical industries, including Amgen, Boehringer Ingelheim and Lilly. Most recently, he was Vice President and Regional General Manager at Amgen, responsible for the Middle East and African region.
“I am excited to join Seres at a time when it is poised to have dramatic impact on diseases that are poorly managed today,” Hashad added. “The potential to introduce the first-ever microbiome therapeutic to patients is especially exciting, and I look forward to building and leading a team that will embrace the rare opportunity to help create a new era in medicine.”
About Seres Therapeutics
Seres Therapeutics Inc. is a leading microbiome therapeutics platform company developing a novel class of biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome characterized by an increased presence of pathogenic bacterial species, where the natural state of bacterial diversity is imbalanced. Seres’ most advanced program, SER-109, has successfully completed a Phase 1b/2 study demonstrating a clinical benefit in patients with recurring Clostridium Difficile infection (CDI) and is currently being evaluated in a Phase 2 study in recurring CDI. Seres’ second clinical candidate, SER-287, is being evaluated in a Phase 1b study in patients with mild-to-moderate ulcerative colitis (UC).
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the impact that Seres can have on diseases and the ability to commercialize therapies.
These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: we have incurred significant losses, are not currently profitable and may never become profitable; our need for additional funding, which may not be available; our limited operating history; the unpredictable nature of our early stage development efforts for marketable drugs; the unproven approach to therapeutic intervention of our microbiome therapeutics; the lengthy and expensive process of clinical drug development, which has an uncertain outcome; potential delays in enrollment of patients which could affect the receipt of necessary regulatory approvals; potential delays in regulatory approval, which would impact the ability to commercialize our product candidates and affect our ability to generate revenue; any fast track or Breakthrough Therapy designation may not lead to faster development, regulatory approval or marketing approval; our possible inability to receive orphan drug designation should we choose to seek it; our reliance on third parties to conduct our clinical trials and the potential for those third parties to not perform satisfactorily; our reliance on third parties to manufacture our product candidates, which may delay, prevent or impair our development and commercialization efforts; our lack of experience in manufacturing our product candidates; the potential failure of our product candidates to be accepted on the market by the medical community; our lack of experience selling, marketing and distributing products and our lack of internal capability to do so; failure to compete successfully against other drug companies; potential competition from biosimilars; failure to obtain marketing approval internationally; post-marketing restrictions or withdrawal from the market; anti-kickback, fraud, abuse, and other healthcare laws and regulations exposing us to potential criminal sanctions; recently enacted or future legislation; compliance with environmental, health, and safety laws and regulations; protection of our proprietary technology; protection of the confidentiality of our trade secrets; changes in United States patent law; potential lawsuits for infringement of third-party intellectual property; our patents being found invalid or unenforceable; compliance with patent regulations; claims challenging the inventorship or ownership of our patents and other intellectual property; claims asserting that we or our employees misappropriated a third-party’s intellectual property or otherwise claiming ownership of what we regard as our intellectual property; adequate protection of our trademarks; ability to attract and retain key executives; managing our growth could result in difficulties; risks associated with international operations; potential system failures; the price of our common stock may fluctuate substantially; our executive officers, directors, and principal stockholders have the ability to control all matters submitted to the stockholders; a significant portion of our total outstanding shares are eligible to be sold into the market in the near future; unfavorable or lacking analyst research or reports; and we may be subject to securities class action litigation. These and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, on November 12, 2015 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.