BOTHELL, Wash., April 26, 2018 (GLOBE NEWSWIRE) -- Alder Biopharmaceuticals, Inc. (NASDAQ:ALDR) (“Alder” or the “Company”), a biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of migraine, today announced that its Board of Directors has unanimously appointed Jeremy Green, Founder and Portfolio Manager of Redmile Group, LLC (“Redmile”), to the Company’s Board, effective April 25, 2018. Mr. Green will serve as a Class III director with a term expiring at the Company’s 2020 Annual Meeting, filling a vacancy on the Board.
Redmile Group, LLC is Alder’s largest stockholder and manages approximately $3 billion in global public and private healthcare investments.
Stephen M. Dow, Chairman of the Alder Board, said “We are pleased to welcome Jeremy as a new director on our Board and his appointment serves as the latest step in our ongoing enhancement of our Board and management team. Jeremy brings strong healthcare expertise, both as an investor and a former sell-side analyst, and we look forward to benefiting from his insights and perspectives.”
Mr. Green said, “I look forward to working with the other directors and management as we continue advancing Alder’s mission to transform treatment for migraine patients.”
About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals is a clinical-stage biopharmaceutical company focused on transforming the migraine treatment paradigm through the discovery, development and commercialization of novel therapeutic antibodies. Alder’s lead product candidate, eptinezumab, is a monoclonal antibody (mAb) that inhibits calcitonin gene-related peptide (CGRP) and is currently in late-stage clinical development for the prevention of migraine. Unlike other CGRP inhibitors, eptinezumab was specifically designed as an infusion therapy to address significant patient need. Alder is also developing ALD1910, a preclinical mAb that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38) for migraine prevention. For more information, please visit www.alderbio.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, without limitation, statements relating to: the ongoing enhancement of Alder’s Board and management team; and Alder’s mission to transform treatment for migraine patients. Words such as “enhancement,” “look forward,” “continue,” “mission,” or other similar expressions, identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. The forward-looking statements in this press release are based upon Alder's current plans, assumptions, beliefs, expectations, estimates and projections, and involve substantial risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements due to these risks and uncertainties as well as other factors, which include, without limitation: risks related to the potential failure of eptinezumab to demonstrate safety and efficacy in clinical testing; Alder's ability to conduct clinical trials and studies of eptinezumab sufficient to achieve a positive completion; the availability of data at the expected times; the clinical, therapeutic and commercial value of eptinezumab; risks and uncertainties related to regulatory application, review and approval processes and Alder's compliance with applicable legal and regulatory requirements; risks and uncertainties relating to the manufacture of eptinezumab; Alder's ability to obtain and protect intellectual property rights, and operate without infringing on the intellectual property rights of others; the uncertain timing and level of expenses associated with Alder's development and commercialization activities; the sufficiency of Alder's capital and other resources; market competition; changes in economic and business conditions; and other factors discussed under the caption "Risk Factors" in Alder's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, which was filed with the Securities and Exchange Commission (SEC) on February 26, 2018, and is available on the SEC's website at www.sec.gov. Additional information will also be set forth in Alder's other reports and filings it will make with the SEC from time to time. The forward-looking statements made in this press release speak only as of the date of this press release. Alder expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Alder's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Investor Relations Contact:
Ashwin Agarwal
Vice President, Corporate Strategy
Alder Biopharmaceuticals, Inc.
425-408-8567
aagarwal@alderbio.com
Michael Schaffzin
Stern Investor Relations, Inc.
212-362-1200
michael@sternir.com
Media Contact:
Andy Brimmer / Trevor Gibbons / Aura Reinhard
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449