SALT LAKE CITY, May 23, 2022 (GLOBE NEWSWIRE) — Elevar Therapeutics, Inc., a fully integrated biopharmaceutical company dedicated to elevating treatment experiences and outcomes for patients who have limited or inadequate therapeutic options, today announced the hiring of Paul Friel as chief commercial officer. Friel has more than 30 years’ experience in the pharmaceutical industry, including leadership positions in multinational corporations and biotech companies.
The company also named Dr. Michael Palucki, a pharmaceutical industry veteran with 25 years of experience, as vice president of manufacturing. Palucki has broad pharmaceutical knowledge with direct experience in driving strategy and operational excellence spanning drug discovery, drug development, regulatory filing, product launch, commercialization and lifecycle management.
“Paul Friel and Dr. Michael Palucki are deeply qualified biopharmaceutical leaders with proven track records and a keen understanding of what it takes to drive product approvals and launches in the U.S.,” said Dr. Saeho Chong, chief executive officer of Elevar. “This is a critical time for Elevar and their skill sets will enable us to realize our commercial objectives and deliver on our commitment to fulfill the unmet needs of cancer patients who are awaiting new therapeutic options. We are thrilled to have them join our team.”
Friel most recently served as chief commercial officer at Beyond Spring, Inc. (NASDAQ: BYSI), a global, clinical-stage biopharmaceutical company. Previously, he served in roles of increasing responsibility and leadership at pharmaceutical company TAP/Takeda, including president and general manager at Takeda Canada.
Friel has launched more than 20 products during his career, including five that achieved more than $1 billion in sales. He also held early leadership positions in five start-ups and led business development for several large transitions and capital raises. He holds an MBA from the University of Kansas and a Bachelor of Science degree in business administration from Kansas State University.
Palucki most recently served as executive director, CMC product development and team leader for Venatorx Pharmaceuticals, Inc., a private company focused on the discovery and development of novel anti-infectives to treat multi-drug-resistant bacterial infections and hard-to-treat viral infections. Prior to that, Palucki worked at Merck & Co. in various roles including small molecule API development leader, director CMC integrated development and supply leader, and director, portfolio and product development lead for mature brands.
Palucki was a National Institutes of Health Postdoctoral Fellow at Massachusetts Institute of Technology. He holds a Doctor of Philosophy, Organic Chemistry degree from Harvard University and a Bachelor of Science degree from California State University of Fullerton. Palucki has authored/co-authored 43 publications and 12 patents.
About Elevar Therapeutics
Elevar Therapeutics is a rapidly growing, fully integrated biopharmaceutical company built on the promise of elevating treatment experiences and outcomes for patients who have limited or inadequate therapeutic options. Elevar’s lead proprietary drug candidates include rivoceranib (apatinib) and Apealea® (paclitaxel micellar). Rivoceranib is the first small-molecule tyrosine kinase inhibitor (TKI) to be approved in gastric cancer (China, Dec 2014). It has been granted Orphan Drug designation in the U.S., Europe and South Korea and has been clinically tested in over 1,000 patients worldwide in numerous cancer indications. Apealea® (paclitaxel micellar) is a non-Cremophor EL based formulation of paclitaxel that received marketing authorization by the European Commission in November 2018, making it Europe’s first non-Cremophor EL formulation of paclitaxel approved for use in ovarian cancer. Elevar Therapeutics has offices in Utah, California and South Korea, and additional information is available at www.elevartherapeutics.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e6f9791-946b-4854-aa27-85a7df4ff266