Arovella Therapeutics Ltd (ASX:ALA) has strengthened its drug development pipeline expertise with the appointment of life-sciences veteran Dr Elizabeth Stoner, MS MD, as an independent non-executive director.
Arovella is a biotechnology company focused on developing its invariant Natural Killer T (iNKT) cell platform and its oral spray delivery technology to treat cancer and conditions that affect the central nervous system.
Dr Stoner has more than 30 years of experience in the life-sciences sector, spanning early-stage research, drug development and venture investing.
She is currently executive partner at MPM Capital, a leading US healthcare investment firm, with more than two decades of experience founding and investing in life-sciences companies that seek to translate scientific innovations into cures for major diseases.
In her role, Dr Stoner serves as a clinical advisor to several of MPM Capital’s portfolio companies, including AlloVir and Rhythm Pharmaceuticals.
Additionally, Dr Stoner served as the interim CEO of the cell therapy biotechnology company, Semma Therapeutics, which was acquired by Vertex in 2019 for US$950 million.
“Continuum of drug development”
Arovella CEO and managing director Dr Michael Baker said: “Liz is one of the rare individuals in the industry whose career spans the continuum of drug development, from leading early-stage research through to the commercialisation of final products.
“This is an exciting time in Arovella’s evolution, and we could not be happier that Liz will play an important role in our journey.”
Before becoming executive partner at MPM, Dr Stoner was senior vice president of Global Clinical Development Operations at Merck Research Laboratories where she was responsible for its clinical development activities in more than 40 countries.
She led the 5-alpha reductase clinical development program, establishing Merck as a leader in the field of prostate disease.
Dr Stoner currently serves on the board of Triplett Therapeutics. She is also a member of the Albert Einstein College of Medicine Board of Governors, and the Weill Cornell Medical College Clinical and Translational Science Center External Advisory Board.
Dr Stoner received her MD from the Albert Einstein College of Medicine and prior to joining the biopharma industry, was an Assistant Professor of Paediatrics at Cornell University Medical College.
Head of business development steps down
The company’s head of business development, David Phillips, is also stepping down from his role but will continue as a board director until January 14, 2022.
Phillips joined Arovella as a consultant in 2017 and headed up the business development function in 2018, playing an important role in structuring partnerships for the OroMist platform since that time. Arovella’s CEO and managing director Dr Michael Baker will assume the role in the interim.
Dr Baker said: “The entire team at Arovella would like to thank David for his important contribution throughout his time with the company. We wish David continued success for his next endeavours.”