Coronado Biosciences Appoints George Avgerinos, Ph.D. as Senior Vice
President, Biologics Operations
BURLINGTON, Mass., June 4, 2013 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc.
(Nasdaq:CNDO), a biopharmaceutical company focused on the development of novel
immunotherapy biologic agents for the treatment of autoimmune diseases and
cancer, announced today that George Avgerinos, Ph.D. has joined the Company as
Senior Vice President, Biologics Operations. Dr. Avgerinos will lead
Coronado's global manufacturing and supply chain efforts for both TSO
(Trichuris suis ova or CNDO-201) and CNDO-109, including the development of
the Company's manufacturing facility for TSO in Woburn, Massachusetts.
"We are excited that Dr. Avgerinos has joined us in developing our clinical
programs," said Dr. Harlan F. Weisman, Coronado's Chairman and CEO. "Dr.
Avgerinos led the manufacturing and supply chain efforts for HUMIRA®
(adalimumab) at AbbVie Inc. (AbbVie). His extensive experience in biologics
will significantly support our efforts in moving TSO and CNDO-109 forward. We
believe that Dr. Avgerinos is an important addition to the management team and
are pleased that we have continued to add talent of his caliber as we move
closer to the results of TRUST-I, our phase 2 clinical trial in Crohn's
disease, expected in the second half of 2013."
Most recently, Dr. Avgerinos was at AbbVie where he was Vice President,
HUMIRA® Manufacturing Sciences and External Partnerships. In his 23 year
career at AbbVie, formerly Abbott Laboratories, formerly BASF Bioresearch
Corporation (BASF), Dr. Avgerinos had responsibility for many aspects of
Biologics development and operations. These included the HUMIRA® operations
franchise, global biologics process and manufacturing sciences, biologics CMC,
manufacturing operations, and third party manufacturing. During his tenure,
Dr. Avgerinos led and participated in the development of numerous clinical
candidates which included the launch of HUMIRA®. He supported expansion of the
supply chain to over $9 Billion in annual global sales in its enviable
position as the world's largest selling drug. Dr. Avgerinos' efforts on
HUMIRA® have been recognized with numerous awards, including the prestigious
Abbott's Chairman's award in 2011.
Dr. Avgerinos started his career at Biogen, Inc. in 1981 and subsequently
joined Collaborative Research Inc. while serving as Adjunct Associate
Professor of Chemical Engineering at Tufts University. Dr. Avgerinos has
authored numerous publications in the area of biotechnology product
development and manufacturing and holds a number of product and process
patents. Dr. Avgerinos received a B.A. in Biophysics from the University of
Connecticut and a Ph.D. in Biochemical Engineering from the Massachusetts
Institute of Technology.
About Coronado Biosciences
Coronado Biosciences is engaged in the development of novel immunotherapy
biologic agents. The company's two principal pharmaceutical product candidates
in clinical development are: TSO (Trichuris suis ova or CNDO-201), a biologic
for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative
colitis and multiple sclerosis; and CNDO-109, a biologic that activates
natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML),
multiple myeloma and solid tumors. For more information, please visit
This press release may contain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.Such statements include, but are not limited to, any
statements relating to the company's product development programs and any
other statements that are not historical facts. Forward-looking statements are
based on management's current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating results,
financial condition and stock price. Factors that could cause actual results
to differ materially from those currently anticipated are: our ability to
attract, integrate and retain key personnel; risks relating to the results of
research and development activities; uncertainties relating to preclinical and
clinical testing; our ability to obtain, perform under and maintain financing
and strategic agreements and relationships; the early stage of products under
development; our need for substantial additional funds; government regulation;
patent and intellectual property matters; our dependence on third party
suppliers; and competition; as well as other risks described in our SEC
filings.We expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in our expectations or any changes in events,
conditions or circumstances on which any such statement is based, except as
required by law.
CONTACT: Lucy Lu, MD, Executive Vice President
& Chief Financial Officer
Coronado Biosciences, Inc.
Marcy Nanus, Vice President
The Trout Group, LLC.
Dian Griesel Inc.
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