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Emergent BioSolutions Announces Executive Management Team of New Spin-Off Company Aptevo Therapeutics

GAITHERSBURG, Md., Jan. 21, 2016 (GLOBE NEWSWIRE) — Emergent BioSolutions Inc. (NYSE:EBS) today announced the anticipated executive management team of Aptevo Therapeutics Inc., Emergent’s planned Biosciences business spin-off company. Members of the Aptevo executive management team will be appointed to their positions effective upon completion of the tax-free spin-off of Aptevo, expected to occur in mid-2016.

“We are pleased to have such an experienced and talented group of individuals to lead Aptevo Therapeutics,” said Daniel J. Abdun-Nabi, president and chief executive officer of Emergent BioSolutions. “These individuals possess the expertise, commitment, and passion to build on the successes of Emergent’s biosciences business for it to grow as a stand-alone publicly-traded company.”

As previously announced, Marvin L. White will serve as Aptevo’s Chief Executive Officer upon the expected completion of the spin-off. He will be joined on the executive management team by the following individuals:

• Jeff Lamothe, SVP and Chief Financial Officer
• Scott C. Stromatt, Chief Medical Officer & SVP, Clinical Development & Medical Affairs
• Jane Gross, VP, Research and Non-Clinical Development
• Mike Adelman, VP, Commercial Operations
• Shawnte Mitchell, VP and General Counsel

“The selected management team and I share the same enthusiasm about what Aptevo can accomplish within the immuno-oncology field,” said Mr. White. “We look forward to applying our innovative ADAPTIR technology to provide novel oncology and hematology therapeutics that could meaningfully improve patients’ lives.”

Individual Biographies

Following are brief biographies of members of the Aptevo executive management team:

• Marvin L. White, Chief Executive Officer
  Mr. White is currently a member of Emergent BioSolutions’ Board of Directors. He is the former Chief Financial Officer of St. Vincent’s Health, a $2.8 billion multi-hospital health system. Mr. White previously served as Executive Director and CFO of Lilly USA, a subsidiary of Eli Lilly and Company, and held other positions in corporate finance at Eli Lilly and Company. He serves on the boards of CoLucid Pharmaceuticals, Inc., WP Glimcher, and OneAmerica Financial Partners Inc.

• Jeff Lamothe, SVP and Chief Financial Officer
  Mr. Lamothe will lead Finance, Business Development, Investor Relations, and IT. He currently serves as Emergent’s VP Finance, Biosciences Division. Mr. Lamothe assumed this role in 2014 when Emergent concluded the acquisition of Cangene Corporation, where he was Chief Financial Officer. Mr. Lamothe’s business experience is built on a 25+ year career, spanning several industries and both CFO and CEO roles.

• Scott C. Stromatt, M.D., Chief Medical Officer and SVP, Clinical Development & Medical Affairs
  Dr. Stromatt will continue as the Chief Medical Officer at Aptevo, a position he has held for the last seven years at Emergent. He will lead Clinical Research, Medical Affairs, Pharmacovigilance, and Regulatory Affairs, and will continue the clinical development programs for the ADAPTIR molecules that he has designed and directed. Dr. Stromatt has nearly three decades of experience at biotechnology and pharmaceutical companies, including being a biotechnology analyst for Wall Street investment firm C.E. Unterberg. Dr. Stromatt has conducted over 55 clinical trials in a wide variety of indications, including oncology, rheumatology, pulmonology, gastroenterology, and neurology.

• Jane Gross, Ph.D., VP, Research & Non-Clinical Development
  Dr. Gross will continue to lead research and non-clinical development, a position she has held for the last five years at Emergent. She will lead research efforts in molecular biology and protein engineering, immunology, protein and cell sciences, and translational research for clinical development. Dr. Gross has a Ph.D. in Immunology and over twenty-five years of experience in the discovery and development of novel protein therapeutics in autoimmune, infectious disease and oncology indications and is an inventor on over 100 patents. Prior to joining Emergent, Dr. Gross served as VP of Immunology Research at ZymoGenetics Inc., where she led efforts in discovery and development of therapeutics from novel genes for treatment of AIID and cancer.

• Mike Adelman, VP, Commercial Operations
  Mr. Adelman will continue to lead all commercial functions at Aptevo as VP, Commercial Operations, a position that he has held since 2012 at Cangene Corporation, which was acquired by Emergent in 2014. Mr. Adelman brings over 20 years of industry-specific commercial leadership experience in areas including sales, marketing, contracting, pricing, commercial analytics, and alliance management. Prior to joining Cangene, Mr. Adelman was VP of Marketing and Sales at Adolor Corporation and Sr. Director, Marketing Strategy at AstraZeneca.

• Shawnte Mitchell, VP and General Counsel
  Ms. Mitchell will lead Governance, SEC, Intellectual Property, Contracts, and Compliance. She is currently VP, Associate General Counsel and Assistant Secretary of Emergent, where she provides strategic legal advice in a variety of areas, including corporate governance, healthcare regulatory, and product development, and has served as lead negotiator on various transactions. Prior to Emergent, Ms. Mitchell was an Associate at Ropes & Gray LLP, where she advised health care, life sciences, and technology clients in mergers and acquisitions, venture capital investment, and debt transactions.

About Emergent BioSolutions
Emergent BioSolutions is a global specialty biopharmaceutical company dedicated to one simple mission—to protect and enhance life. We develop, manufacture, and deliver a portfolio of medical countermeasures for biological and chemical threats as well as emerging infectious diseases. We also develop and commercialize therapeutics and other specialty products for hospitals and clinics in the areas of hematology/oncology, transplantation, infectious diseases and autoimmune disorders. Through our work, we envision protecting and enhancing 50 million lives with our products by 2025. Additional information about the company may be found at www.emergentbiosolutions.com. Follow us @emergentbiosolu.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, statements regarding the planned spin-off of our biosciences business, the timing of any such spin-off, the expected appointments of the spin-off company management team, and any other statements containing the words “believes”, “expects”, “anticipates”, “intends”, “plans”, “forecasts”, “estimates” and similar expressions are forward-looking statements. These forward-looking statements are based on our current intentions, beliefs and expectations regarding future events. We cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause the company’s actual results to differ materially from those indicated by such forward-looking statements, including whether the planned spin-off of the biosciences business is completed, as expected or at all, and the timing of any such spin-off; whether the conditions to the spin-off can be satisfied; and general market and economic conditions. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the SEC, when evaluating our forward-looking statements.