January 17, 2017 5:15 AM ET

Biotechnology

Company Overview of Nivalis Therapeutics, Inc.

Company Overview

Nivalis Therapeutics, Inc., a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of product candidates for patients with cystic fibrosis (CF). CF is a life-shortening genetic disease. Its lead product candidate is N91115, a small molecule that is in Phase II clinical trial, which addresses a defect in cystic fibrosis transmembrane conductance regulator (CFTR), resulting from mutations in the CFTR gene. The company was formerly known as N30 Pharmaceuticals, Inc. and changed its name to Nivalis Therapeutics, Inc. in February 2015. Nivalis Therapeutics, Inc. was founded in 2007 and is headquartered in Boulder, Colorado.

3122 Sterling Circle

Suite 200

Boulder, CO 80301

United States

Founded in 2007

29 Employees

Phone:

720-945-7700

Fax:

303-440-8399

Key Executives for Nivalis Therapeutics, Inc.

Chief Executive Officer, President and Director
Age: 53
Total Annual Compensation: $375.0K
Chief Financial Officer and Secretary
Age: 58
Total Annual Compensation: $387.0K
Chief Operating Officer and Executive Vice President
Age: 58
Total Annual Compensation: $363.8K
Compensation as of Fiscal Year 2015.

Nivalis Therapeutics, Inc. Key Developments

Nivalis Therapeutics, Inc. Announces Management Changes, with Effect from January 15, 2017

On January 6, 2017, Nivalis Therapeutics, Inc. announced that Jon Congleton, President and Chief Executive Officer, and David Rodman, M.D., Chief Medical Officer and Executive Vice President of Discovery, will terminate effective January 15, 2017. Mr. Congleton also indicated that he will resign from the Board of Directors of the Company effective January 15, 2017. The Board of Directors of the company has appointed Mr. Michael Carruthers, the company’s Chief Financial Officer, as interim President effective January 15, 2017. R. Michael Carruthers has served as Chief Financial Officer and Secretary since February 4, 2015. From December 1998 to February 2015, he served as Chief Financial Officer for Array BioPharma. Prior to joining Array BioPharma, Mr. Carruthers served as Chief Financial Officer of Sievers Instrument, a division of Ionics, Inc., and before joining Sievers, was the treasurer and controller for the Waukesha division of Dover Corporation.

Nivalis Therapeutics Inc. to Eliminate 25 Jobs

Nivalis Therapeutics Inc. announced that it intends to complete a reduction in force affecting 25 employees, including Jon Congleton, President and Chief Executive Officer, and David Rodman, M.D., Chief Medical Officer and Executive Vice President of Discovery. The reductions are expected to occur between January 15, 2017 and March 31, 2017, after which, the company will have approximately five remaining employees.

Nivalis Therapeutics Mulls Multiple Strategic Alternatives

Nivalis Therapeutics, Inc. (NasdaqGM:NVLS) is considering multiple strategic alternatives. Nivalis Therapeutics announced that its Board of Directors has initiated a process to explore and review a range of strategic alternatives focused on maximizing stockholder value from its clinical assets and cash resources. Nivalis Therapeutics has engaged Ladenburg Thalmann & Co. Inc. to act as its strategic financial advisor for the process. The Board has established a Special Committee to explore and evaluate strategic alternatives. Potential strategic alternatives that may be explored or evaluated as part of the process include the potential for an acquisition, merger, business combination or other strategic transaction involving the company.

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