Allena Prescribed drugs Appoints Richard D. Katz, M.D. as Chief Economic Officer

The MarketWatch Information Office was not associated in the generation of this content.

NEWTON, Mass., Feb 02, 2021 (World NEWSWIRE by way of COMTEX) —
NEWTON, Mass., Feb. 02, 2021 (World NEWSWIRE) — Allena Prescribed drugs, Inc. (NASDAQ: ALNA), a late-phase, biopharmaceutical enterprise devoted to producing and commercializing first-in-course, oral enzyme therapeutics to address patients with unusual and critical metabolic and kidney problems, nowadays announced the appointment of Richard D. Katz, M.D., as Main Economical Officer (CFO), efficient immediately. Dr. Katz succeeds Edward Wholihan, whose prepared departure was declared by the Company in November 2020.

“Loaded is a great addition to Allena. He is a strategic leader with deep working experience guiding company and organization system for general public biotechnology providers, and a tested keep track of document of constructing nicely-funded, sustainable companies,” said Louis Brenner, M.D., President and Main Govt Officer of Allena Prescribed drugs. “Rich’s integrated point of view as a medical doctor and seasoned fiscal qualified will deliver great worth as we keep on to spend in our rising pipeline of oral enzyme therapeutics, with the target of advancing reloxaliase from pivotal Period 3 trials to commercialization, though also devoting increased methods to ALLN-346 and our next wave of therapeutic candidates.”

Dr. Katz delivers far more than 20 several years of expertise in healthcare finance and corporate growth to Allena. Most recently, he served as CFO at Liquidia Systems, Inc., a late-phase scientific biopharmaceutical organization. Prior to Liquidia, Dr. Katz served as CFO at various biopharmaceutical businesses, such as Argos Therapeutics, Viamet Pharmaceuticals and Icagen, Inc. At Icagen, Dr. Katz played a vital part in facilitating the company’s initial general public offering and subsequent financings, the development of quite a few strategic collaborations and the firm’s sale to Pfizer. Dr. Katz commenced his vocation as a vice president in the health care investment banking team at Goldman, Sachs & Firm, the place he executed a wide selection of transactions, such as fairness and credit card debt financings, mergers and acquisitions and corporate restructurings. He holds his B.A. from Harvard University, his M.D. from Stanford University College of Medication and his M.B.A. from Harvard Business School.

“I am thrilled to be part of Allena, specifically at this interesting time for the enterprise,” reported Richard Katz, M.D. “Based on the scientific and scientific data offered to-day, I consider that reloxaliase has the prospective to deliver a very first-in-course medicine for persons with enteric hyperoxaluria, a significant inhabitants for whom recent treatment choices are particularly confined, and that ALLN-346 may deal with the unmet needs of people dwelling with both hyperuricemia and persistent kidney illness. I am enthusiastic to do the job with the team to progress these plans by clinical scientific studies and towards thriving launches. Also, I imagine the company’s proprietary enzyme technological innovation could gasoline a broader pipeline of novel, orally sent medicines and I appear ahead to functioning with my new colleagues to harness its whole opportunity to deal with a assortment of rare and critical metabolic and kidney conditions.”

In link with Dr. Katz becoming a member of Allena, Allena’s Board of Directors authorised, powerful as of February 1, 2021, the grant of a non-capable stock alternative awarded to order 400,000 shares of its typical inventory to Dr. Katz beneath the Allena Prescription drugs 2021 Inducement Equity Strategy. The inventory option will be granted as an inducement materials to Dr. Katz getting to be an personnel of Allena in accordance with Nasdaq Listing Rule 5635(c)(4). The alternative will have an exercise price tag equivalent to $1.67, which was the closing value of Allena’s widespread inventory on The Nasdaq Worldwide Decide on Marketplace on February 1, 2021. The option will vest in excess of a 4-yr time period, with 25{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0} of the shares vesting right after 12 months and the remaining shares vesting regular monthly more than the pursuing 36-months, issue to Dr. Katz’s ongoing employment with Allena on these types of vesting dates. The alternative is subject to the terms and situations of the Inducement Strategy and the phrases and situations of a stock solution arrangement covering the grant.

About Allena Pharmaceuticals
Allena Pharmaceuticals, Inc. is a late-stage biopharmaceutical enterprise devoted to establishing and commercializing very first-in-class, oral enzyme therapeutics to handle patients with unusual and significant metabolic and kidney ailments. Allena’s lead product applicant, reloxaliase, is presently becoming evaluated in a pivotal Stage 3 medical program for the therapy of enteric hyperoxaluria, a metabolic ailment characterized by markedly elevated urinary oxalate ranges and usually involved with kidney stones, chronic kidney illness and other serious kidney problems. Allena is also establishing ALLN-346 for the remedy of hyperuricemia in the location of gout and highly developed serious kidney disease, with Section 1b multiple-ascending dose and Period 2 evidence-of-principle reports planned for 2021.

Forward On the lookout Statements:

This release incorporates “ahead-searching statements” within the indicating of the Private Securities Litigation Reform Act of 1995, such as, with no limitation, statements regarding the future scientific, regulatory and industrial likely of reloxaliase, statements regarding the Allena’s improvement of ALLN-346, statements about Allena’s financial position and want for capital. Any ahead-looking statements in this press release are centered on management’s present-day expectations of long term occasions and are subject matter to a number of threats and uncertainties that could trigger true benefits to vary materially and adversely from all those established forth in or implied by these ahead-searching statements. These threats and uncertainties include things like, but are not confined to: sector and other situations, the timing for completion of Allena’s clinical trials of its products candidates, dangers affiliated with acquiring, sustaining and guarding intellectual assets dangers connected with Allena’s ability to enforce its patents in opposition to infringers and defend its patent portfolio versus challenges from 3rd functions the threat of levels of competition from other firms developing goods for related works by using danger connected with Allena’s monetary issue and its need to get hold of more funding to support its business routines, like the long run medical development of reloxaliase and its means to proceed as a likely worry dangers connected with Allena’s dependence on third events and hazards relevant to the COVID-19 coronavirus. For a dialogue of other dangers and uncertainties, and other significant variables, any of which could cause Allena’s true benefits to vary from these contained in the ahead-hunting statements, see the area entitled “Threat Variables” in Merchandise 1A of Section I of Allena’s Quarterly Report on Variety 10-Q for the quarter finished September 30, 2020, as very well as discussions of prospective hazards, uncertainties and other important aspects in Allena’s subsequent filings with the Securities and Trade Commission. All details in this push release is as of the day of the launch, and Allena undertakes no duty to update this info until essential by legislation.

Investor Contact
Hannah Deresiewicz
Stern Investor Relations, Inc.
[email protected]

Media Make contact with
Adam Daley
Berry & Enterprise Community Relations
[email protected]


Is there a problem with this push release? Call the source supplier Comtex at [email protected] You can also get in touch with MarketWatch Consumer Provider by using our Purchaser Heart.

(C) Copyright 2021 GlobeNewswire, Inc. All rights reserved.

The MarketWatch News Department was not associated in the development of this information.

Rachel C. Carpenter

Next Post

Discover the Personal Finance Routines of Wealthy Entrepreneurs

Wed Feb 3 , 2021
Taking treatment of your own money is just as crucial as taking care of your business’s funds. Free of charge E book Preview Cash-Good Solopreneur This book provides you the crucial tutorial for quick-to-stick to guidelines and approaches to develop additional economic success. January 11, 2021 2 min examine Disclosure: […]