Ms. Nassif brings an extensive track record of successfully developing commercial strategies for multiple FDA-approved drugs
Appointment initiates Cassava's commercial readiness strategy as the Company prepares for
first Phase 3 topline data readout before year end 2024
AUSTIN, Texas, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (NASDAQ: SAVA), a clinical-stage biotechnology company focused on developing a novel treatment for Alzheimer's disease, today announced the appointment of Freda Nassif as Chief Commercial Officer, effective today. As a member of the Company's executive leadership team, Ms. Nassif will report to Richard "Rick" Barry, President and Chief Executive of Cassava.
"I am thrilled to expand Cassava's leadership team and welcome Freda Nassif as Chief Commercial Officer. She joins our company at a critical time, ahead of the release of topline results from RETHINK-ALZ, our first Phase 3 trial for simufilam, expected by the end of 2024, and potential product launch," said Rick Barry, President and Chief Executive Officer. "Freda brings to Cassava a proven track record of successfully developing and implementing effective commercial strategies for innovative medicines. Pending positive simufilam Phase 3 results and FDA approval, we believe Freda's extensive expertise will be invaluable to the development of a robust commercial plan. She will play a key role in helping to realize our ambitious goal of reimagining the treatment possibilities for Alzheimer's disease."
Freda Nassif, Chief Commercial Officer of Cassava commented, "I am honored to have the opportunity to lead the commercial organization for a novel therapy at a time in which there are unprecedented challenges for people living with Alzheimer's Disease. Developing innovative commercial strategies has been the focus of my career and I look forward to bringing my experience to a company like Cassava that is committed to transforming the treatment paradigm."
About Freda Nassif, Chief Commercial Officer
Ms. Nassif is an accomplished biopharmaceutical executive with 25 years of experience, including leading commercial teams to blockbuster status for Pfizer, Inc., Novartis Oncology, Merck & Company, Inc. and Bristol Myers Squibb. In addition, Ms. Nassif has partnered with Fortune 100 life science, pharma, and biotech companies where she has been a major contributor to the commercial growth strategies of high-value, established and emerging brands including Zepbound®, Entyvio®, Tzield®, Epclusa®, and Takhzyro®.
Ms. Nassif has received numerous career awards including Pfizer's "Vice President Cabinet Award". Ms. Nassif earned her MBA and Bachelor of Science from Drexel University.
About Cassava Sciences, Inc.
Cassava Sciences is a clinical-stage biotechnology company based in Austin, Texas. Our mission is to detect and treat neurodegenerative diseases, such as Alzheimer's disease.
Simufilam is an investigational oral, small molecule drug candidate currently being evaluated in two Phase 3 clinical trials for the potential treatment of Alzheimer's disease. Simufilam targets a specific site on filamin A, a scaffolding protein that is critical to certain receptor interactions in the brain. Cassava Sciences believes that simufilam interrupts amyloid-ß42 binding to receptors in the brain and may affect the Alzheimer's disease process. Cassava Sciences owns exclusive, worldwide rights to its investigational product candidates and related technologies, without royalty obligations to any third party.
For more information, please visit: https://www.CassavaSciences.com
Zepbound® is a registered trademark of Eli Lilly and Company
Entyvio® is a registered trademark of Takeda Pharmaceuticals U.S.A.
Tzield® is a registered trademark of Sanofi S.A.
Epclusa® is a trademark of Gilead Sciences, Inc.
Takhzyro® is a registered trademark of Takeda Pharmaceuticals U.S.A.
For More Information Contact:
Investors
Sandya von der Weid
svonderweid@lifesciadvisors.com
Media
Sitrick And Company
Mike_Sitrick@Sitrick.com
Company
Eric Schoen, Chief Financial Officer
(512) 501-2450
ESchoen@CassavaSciences.com
Cautionary Note Regarding Forward-Looking Statements:
This news release contains forward-looking statements that include but are not limited to statements regarding: the completion and future results of our Phase 3 clinical studies of simufilam in patients with Alzheimer's disease; the development of our commercial strategy; the timing of anticipated milestones; and the potential for simufilam to be approved as a treatment for Alzheimer's disease. These statements may be identified by words such as "anticipate", "before," "believe", "could", "expect", "forecast", "intend", "may", "pending," "plan", "possible", "potential", "prepares for," "will", and other words and terms of similar meaning.
Such statements are based on our current expectations and projections about future events. Such statements speak only as of the date of this news release and are subject to a number of risks, uncertainties and assumptions, including, but not limited to, those risks relating to the ability to conduct or complete clinical studies on expected timelines; the ability to demonstrate the specificity, safety, efficacy or potential health benefits of simufilam; our current expectations regarding timing of clinical data for our Phase 3 studies; and other risks inherent in drug discovery and development or specific to Cassava Sciences, Inc., as described in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the period ended September 30, 2024, and future reports to be filed with the SEC. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from expectations in any forward-looking statement. In light of these risks, uncertainties and assumptions, the forward-looking statements and events discussed in this news release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Except as required by law, we disclaim any intention or responsibility for updating or revising any forward-looking statements. For further information regarding these and other risks related to our business, investors should consult our filings with the SEC, which are available on the SEC's website at www.sec.gov.
All of our pharmaceutical assets under development are investigational product candidates. These have not been approved for use in any medical indication by any regulatory authority in any jurisdiction and their safety, efficacy or other desirable attributes, if any, have not been established in any patient population. Consequently, none of our product candidates is approved or available for sale anywhere in the world.
