Halozyme Announces CFO Transition
SAN DIEGO, Feb. 24, 2020 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced that Elaine D. Sun has been appointed senior vice president and chief financial officer, effective March 2, 2020. Ms. Sun will succeed Laurie Stelzer, who has resigned to pursue another opportunity.
Ms. Sun brings more than two decades of experience in the investment banking and life sciences industries to Halozyme. Over her career she has led and played key roles in a broad range of transactions, including multiple mergers, acquisitions and financings, valued in excess of $50 billion. She most recently served as chief financial officer and chief strategy officer at SutroVax, Inc., a private biopharmaceutical company developing vaccines to prevent serious infectious diseases. While at SutroVax she provided strategic, operational and financial leadership for a rapidly growing organization, including establishing innovative agreements with external contract manufacturers. Previously, Ms. Sun served as Managing Director and Head of West Coast Healthcare for Evercore Partners and Managing Director at Merrill Lynch & Co., Inc. Ms. Sun currently serves on the board of directors of Cirius Therapeutics, a clinical-stage pharmaceutical company. Ms. Sun received her B.A. from Wellesley College and M.B.A from Harvard Business School.
"Elaine is a strong addition to our leadership team," said Dr. Helen Torley, president and chief executive officer. "With Elaine's contributions, we look forward to capitalizing on our future business opportunities and delivering additional value to shareholders. On behalf of the Board, I want to thank Laurie for her contributions to Halozyme and wish her all the best in her future endeavors."
"I am delighted to join Halozyme at such an exciting time in the company's evolution," said Ms. Sun. "I look forward to working closely with Helen and the rest of the team at Halozyme to drive growth, profitability and value creation for shareholders."
Halozyme Therapeutics is a biotechnology company focused on novel biological and drug delivery approaches. Halozyme's proprietary enzyme rHuPH20 is used to facilitate the delivery of injected drugs and fluids and potentially reduce the treatment burden of other drugs to patients. Halozyme has licensed its rHuPH20 technology, called ENHANZE®, to leading pharmaceutical and biotechnology companies including Roche, Baxalta, Pfizer, Janssen, AbbVie, Lilly, Bristol-Myers Squibb, Alexion and argenx. Halozyme derives revenues from these collaborations in the form of milestones and royalties as the Company's partners make progress developing and commercializing their products being developed with ENHANZE®. Halozyme is headquartered in San Diego. For more information visit www.halozyme.com.
Safe Harbor Statement
In addition to historical information, the statements set forth above include forward-looking statements including, without limitation, statements concerning the Company's future financial performance including expectations for profitability and reduced expenses, plans to implement an organizational restructuring including anticipated reductions in employee headcount, plans to focus its operations solely on its ENHANZE® drug delivery technology, and the Company's plans to continue to execute on its share repurchase program. Forward-looking statements regarding the Company's ENHANZE® drug delivery technology may include potential growth of the ENHANZE® business, the possible activity, benefits and attributes of ENHANZE®, the possible method of action of ENHANZE®, its potential application to aid in the dispersion and absorption of other injected therapeutic drugs, the number of collaborative targets actually chosen, whether such products are ultimately developed or commercialized, whether milestones triggering milestone payments will be achieved, and statements concerning facilitating more rapid delivery of injectable medications through subcutaneous delivery that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are typically, but not always, identified through use of the words "believe," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected fluctuations or changes in revenues, including revenues from collaborators, unexpected delays or results of the Company's organizational restructuring, unexpected expenditures and costs, unexpected delays in the execution of the planned share repurchase, unexpected results or delays in the growth of the Company's ENHANZE® business, unexpected results or delays in the development and regulatory review of ENHANZE® products, regulatory approval requirements, unexpected adverse events and competitive conditions.
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SOURCE Halozyme Therapeutics, Inc.