WAYNE, Pa. and ROCKVILLE, Md. - Avalo Therapeutics, Inc. (NASDAQ: NASDAQ:AVTX), a clinical-stage biotechnology company, today announced the appointment of Paul Varki as its new Chief Legal Officer.
Varki's extensive experience in the pharmaceutical and biotech industry is expected to enhance Avalo's strategic and legal capabilities as the company advances its lead asset, AVTX-009, for the treatment of hidradenitis suppurativa and other autoimmune conditions.
Varki joins Avalo with over two decades of legal experience in the healthcare sector. His previous roles include serving as US General Counsel at Idorsia Pharmaceuticals US Inc. since 2020, and prior to that, he held significant legal positions at Amarin (NASDAQ:AMRN) Corporation plc, Braeburn Pharmaceuticals, and Egalet Pharma.
Varki also spent 12 years at GSK (LON:GSK) in various capacities and practiced FDA law at Reed Smith LLP. Moreover, he has regulatory experience from his time at the FDA Center for Drug Evaluation and Research (CDER).
In connection with his appointment, Avalo's Board of Directors approved an inducement grant of a non-qualified stock option for Varki to purchase 150,000 shares of Avalo common stock. The grant is set to vest over four years, with the first quarter vesting on the first anniversary of his start date, provided he remains employed with the company.
Avalo Therapeutics focuses on developing treatments for immune dysregulation. Its pipeline includes the lead asset AVTX-009, an anti-IL-1β monoclonal antibody, as well as other promising candidates. The company's efforts are part of a broader initiative to address a range of inflammatory diseases across various specialties, including dermatology, gastroenterology, and rheumatology.
The information in this article is based on a press release statement from Avalo Therapeutics. The forward-looking statements included in the press release are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
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