OLDWICK, N.J., March 28, 2019 /PRNewswire/ -- Provention Bio,
Inc. (Nasdaq: PRVB), a clinical stage biopharmaceutical company
dedicated to intercepting and preventing immune-mediated diseases,
today announced the appointment of Jeffrey Bluestone, PhD, to the
Company's Board of Directors.
Dr. Bluestone is a highly accomplished scientific researcher
whose work over nearly three decades has focused on understanding
the basic processes that control T-cell activation and immune
tolerance in autoimmunity, organ transplantation and cancer. His
research has led to the development and commercialization of
multiple immunotherapies, including the first FDA-approved drug
targeting T-cell co-stimulation to treat autoimmune disease and
organ transplantation and the first CTLA-4 antagonist drugs
approved by the FDA for the treatment of metastatic melanoma. Dr.
Bluestone was part of the team of early developers of a novel
anti-CD3 monoclonal antibody, now called teplizumab, a
pro-tolerogenic drug that has shown clinical activity in type 1
diabetes (T1D), psoriatic arthritis, and the reversal of
kidney transplant rejection. Provention's Phase 3 PROTECT
trial, anticipated to commence enrollment in the second quarter of
2019, will evaluate PRV-031 (teplizumab) in new onset T1D
patients.
"Dr. Bluestone's deep scientific expertise in autoimmunity and
clinical development of FDA-approved therapies will be particularly
valuable as we advance our pipeline assets to potentially address a
broad spectrum of immune-mediated diseases from interception to
prevention," said Ashleigh Palmer,
CEO of Provention Bio. "We are honored to have such an accomplished
and renowned expert in the field of immune-tolerance research join
our Board and we look forward to his contributions."
"Provention is a company with a promising portfolio of
immune-mediated interception and prevention assets with the
potential to interrupt the progression of debilitating autoimmune
diseases with high unmet need," commented Dr. Jeffrey Bluestone. "I
look forward to working with the team as they commence the Phase 3
PROTECT clinical trial for PRV-031 (teplizumab) for type 1 diabetes
and advance the promising pipeline assets to realize their
strategic goal of transforming the therapeutic landscape for
immune-mediated diseases."
Currently, Dr. Bluestone is the president and CEO of the Parker
Institute for Cancer Immunotherapy and the A.W. and Mary Margaret
Clausen Distinguished Professor at University
of California San Francisco (UCSF). He is also director of
the Hormone Research Institute in the Diabetes Center at UCSF. He
was the founding director of the Immune Tolerance Network, the
largest NIH-funded multicenter clinical immunology research
program, testing novel immunotherapies in transplantation,
autoimmunity and asthma/allergy. He was appointed by former Vice
President, Joe Biden as a member of
the Blue Ribbon Panel of scientific experts to guide the National
Cancer Moonshot Initiative and also served as a senior investigator
at the National Cancer Institute of the National Institutes of
Health.
Dr. Bluestone has authored more than 400 peer-reviewed
publications and has received numerous awards, including the
Juvenile Diabetes Research Foundation (JDRF) David Rumbough Award for Scientific Excellence
and election to the American Academy of Arts and Sciences and the
National Academy of Medicine. He received his Bachelor of Science
and Master of Science from Rutgers
University and his doctoral degree in immunology from the
Weill Cornell Graduate School of Medical Science.
About Provention Bio, Inc.
Provention Bio, Inc.
(Nasdaq: PRVB) is a clinical-stage biopharmaceutical company
leveraging a transformational drug development strategy that is
focused on the prevention or interception of immune-mediated
disease. Provention's mission is to in-license, transform and
develop therapeutic candidates targeting the high morbidity,
mortality and escalating costs of autoimmune and inflammatory
diseases including: type 1 diabetes (T1D), Crohn's disease,
ulcerative colitis, celiac disease, lupus, and certain
life-threatening viral diseases. Provention's diversified portfolio
includes advanced-stage product development candidates that have
undergone clinical testing by other companies. For more information
on Provention Bio, please visit www.proventionbio.com.
Forward Looking Statements
Certain statements
in this press release are forward-looking within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
may be identified by the use of forward-looking words such as
"anticipate," "believe," "forecast," "estimate," "expect," and
"intend," among others. These forward-looking statements are based
on Provention's current expectations and actual results could
differ materially. There are a number of factors that could
cause actual events to differ materially from those indicated by
such forward-looking statements. These factors include, but are not
limited to, risks related to failure to obtain FDA approvals or
clearances and noncompliance with FDA regulations; uncertainties of
patent protection and litigation; limited research and development
efforts and dependence upon third parties; substantial competition;
our need for additional financing and the risks listed under "Risk
factors" in our annual report on Form 10-K for the year
ended December 31, 2018 and any subsequent filings with
the Securities and Exchange Commission (SEC). As with any
pharmaceutical under development, there are significant risks in
the development, regulatory approval and commercialization of new
products. Provention does not undertake an obligation to update or
revise any forward-looking statement. The information set forth
herein speaks only as of the date hereof.
Investors:
Kimberly
Minarovich or Sam Martin,
Argot Partners
Kimberly@argotpartners.com or Sam@argotpartners.com
212-600-1902
Media:
David Rosen,
Argot Partners
David.Rosen@argotpartners.com
212-600-1902
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SOURCE Provention Bio, Inc.