CEDAR KNOLLS, NJ, UNITED STATES, August 2, 2021 /EINPresswire.com/ — Avotres Inc., a clinical stage biotechnology company developing novel immune therapies for autoimmune diseases, cancers, and transplantation, announced today that John Houghton has been appointed as President and Chief Executive Officer (CEO), effective immediately.
Mr. Houghton has over three decades of extensive US and international experience in the pharmaceutical, biotech and medical device industries with C-level and senior leadership positions directing sales, marketing, product development, finance, and business development across several therapeutic areas.
Mr. Houghton joins Avotres from AstraZeneca where he was Global Franchise Head, Roxadustat. Mr. Houghton was accountable for the delivery of the asset strategy and the strategic leadership of the cross-functional Global Franchise Team, the aim of which was to ensure the successful development and commercialization of the molecule.
Prior to AstraZeneca, Mr. Houghton held CEO positions with two biotechnology companies in New Jersey and led the successful completion of an initial public offering (IPO) with one of these companies.
“John’s track record in strategic leadership and building company value is really impressive. We are very excited to welcome him on board. His comprehensive background in the life sciences industry across all stages of product life cycle will accelerate the growth of Avotres and take us to the next level quickly,” said Dr. Hong Jiang, chairman of the Board of Directors and scientific founder of Avotres Inc.
Avotres is currently conducting a combined phase I/II trial among new onset Type 1 diabetes (T1D) patients with its leading asset, AVT001, a novel autologous dendritic cell therapy aiming to restore immune self-tolerance by targeting the HLA-E restricted CD8+ regulatory T cell mediated pathway. There are also several preclinical programs ongoing with AVT001 in various autoimmune diseases. T1D is one of the most common chronic diseases of childhood. It accounts for approximately two-thirds of all cases of diabetes in subjects ≤19 years of age. According to the Juvenile Diabetes Research Foundation, it is estimated that as many as 3 million subjects have T1D in the U.S., with more than 15,000 children and 15,000 adults diagnosed each year. These facts underscore the devastating impact of T1D on patients and marked adverse financial consequences for society. It has therefore become imperative to develop more effective treatments for T1D.
“I am very excited to join Avotres as President and CEO,” said Mr. Houghton. “I look forward to leveraging my experience to accelerate the incredible science that is at the heart of Avotres and turning it into innovative therapies for patients.”
AVT001 is an investigational autologous dendritic cell therapy for a broad spectrum of autoimmune diseases. It specifically targets restoring the normal function of the Qa-1/HLA-E restricted CD8+ T cell mediated regulatory pathway. The dysfunction of this pathway is considered potentially responsible for the onset of many autoimmune diseases.
AVT001 is currently in an ongoing combined phase I/II, randomized, double-blind, placebo-controlled study for the treatment of new onset Type 1 Diabetes with AVT001 for patients aged 16 and older. For more information, please click this link NCT03895996.
Avotres Inc. is a private biotechnology company with a focus on the development of novel immune therapies for autoimmune diseases, cancers, and transplantation. Targeting these therapeutic areas with high unmet medical needs, we apply cutting edge science to unveil potentially paradigm shifting immunological pathways in the hope to transform the treatment for millions of patients. We consider it our mission to tackle these diseases from their root cause(s) and aim to reach the ultimate goal of relieving patients from the disease burden. Find out more at www.avotres.com.
Source: EIN Presswire