BALTIMORE, MD – AsclepiX Therapeutics, Inc, a biopharmaceutical company focused on developing vital new therapies based on a novel collagen IV-derived peptide called AXT107, announces that Steven Altschuler, MD has joined its Board of Directors. Dr. Altschuler, who formerly held Chief Executive positions at the Children’s Hospital of Pennsylvania (CHOP) and University of Miami Health System (UMHS), brings significant strategic and operational experience to AsclepiX. As a Board Member, Dr. Altschuler will help AsclepiX succeed and scale as it commercializes its flagship product, AXT107, and their products for cancer.
Dr. Altschuler has 18 years of experience growing healthcare organizations in business and leadership capacities. Trained as a pediatric gastroenterologist, he was appointed in 2000 as President & CEO at CHOP, where he also chaired the Department of Pediatrics. For 15 years, he played a pivotal role transforming CHOP from a traditional academic medical center to a highly integrated, value-based translational health system characterized by worldclass clinical care. Under his purview, the organization enjoyed financial success and earned industry accolades, ranking as the #1 children’s hospital by US News and World Report 10 times during his 15-year tenure – and the #2 hospital during the remaining 5 times. He then went on to serve as CEO and Executive Vice President of UMHS, where he restructured the clinical delivery system into a CMS, Perspective Payment System (PPS)-exempt unified academic medical center under a single state license.
In 2013, Dr. Altschuler founded Spark Therapeutics, Inc. (NASDAQ: ONCE) based on technology and know-how developed over two decades at Children’s Hospital of Philadelphia (CHOP). He serves as Chairman of the Board at Spark Therapeutics, Inc., a fully integrated, commercial company committed to discovering, developing and delivering gene therapies across multiple therapeutic categories. In 2017, Spark gained FDA approval for LUXTURNA® (voretigene neparvovec-rzyl), a one-time gene therapy product indicated for the treatment of patients with confirmed biallelic RPE65 mutation-associated retinal dystrophy and which is currently marketed in the US. The European Commission granted marketing authorization for LUXTURNA in 2018. Most recently, Spark Therapeutics, Inc. is in the process of being acquired by Roche (SIX: RO, ROG; OTCQX: RHHBY) for $4.8 billion.
“The AsclepiX team is proud to make Dr. Altschuler a member of our Board,”
said Wendy Perrow, CEO of AsclepiX Therapeutics.
“His track record of success in the development and approval of a novel gene therapy for blindness due to inherited retinal disease should prove invaluable to our team as we move into clinical development of AXT107 for acquired retinal diseases, including Diabetic Macular Edema and wet Aged-Related Macular Degeneration. Furthermore, his expertise in developing technology that originated in the academic laboratories of CHOP will translate well to AsclepiX, which is developing novel therapeutics through a peptide platform developed in the laboratories at John’s Hopkins University. Dr. Altschuler’s perspective and guidance will be invaluable as we continue to innovate and bring exciting new therapies to the ophthalmic and oncology markets.”
In addition to his work with Spark and AsclepiX, Dr. Altschuler currently holds leadership and advisory positions on several corporate boards, including Adtalem Global Education (Member, Board of Directors) and WW (formerly Weight Watchers International; Member, Board of Directors). He previously held board positions at Mead Johnson Nutrition Company and the Leonard Davis Institute of Healthcare Economics at the Wharton School, University of Pennsylvania.
About AsclepiX Therapeutics
AsclepiX Therapeutics Inc. is transforming the treatment of retinal diseases and cancer with a singular focus on a novel peptide platform with the power to inhibit and potentially even reverse disease progression. The mechanism of action of AXT107 targets multiple pathways, including inhibiting vascular endothelial growth factor receptor 2 (VEGFR2) and activating Tie2, two pathways that promote formation of blood vessels and leakage of fluid in the diseased retina that may be dosed 1 – 2 times per year. AsclepiX is initially focused on ocular diseases currently treated with anti-VEGF monotherapies. Learn more at www.asclepix.com.
This press release contains “forward-looking statements” concerning the development of AsclepiX Therapeutics, Inc. products, the potential benefits and attributes of such products, and the company’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. AsclepiX Therapeutics, Inc. undertakes no obligation to update any forward-looking statements for any reason.