SOUTH SAN FRANCISCO, Calif. & NEW YORK--(BUSINESS WIRE)--Allogene Therapeutics, Inc. (Allogene), a biotechnology company with a mission to catalyze the next revolution of cell therapy through the advancement of allogeneic CAR T therapies, today announced the appointment of Eric Schmidt, Ph.D. as Chief Financial Officer. Dr. Schmidt comes to Allogene from Cowen and Company, where he served as Managing Director and Senior Biotechnology Analyst since 1998. For over two decades, Dr. Schmidt has been a highly trusted and thoughtful industry analyst whose work has been recognized in polls conducted by Alpha Magazine, Institutional Investor, Reuters and The Wall Street Journal.
“On behalf of our Executive Chairman, Arie Belldegrun, our Board of Directors and our entire team, it is my pleasure to welcome Eric to Allogene,” said David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene. “Eric is an enormously talented individual with a rare blend of insight into multiple facets of the industry and deep relationships within the financial community. We are very fortunate to have him join the Allogene executive team and look forward to him applying his expertise to our vision for allogeneic cell therapy.”
“Eric has been an amazing partner to the entire Cowen family for the last 20 years,” said Jeffrey M. Solomon, Cowen CEO. “He has been part of the lifeblood of our organization and a true friend who is passionate about this business and our firm. I am pleased that Eric has agreed to remain a Senior Advisor to Cowen. While we are saddened to see him leave his current role, he does so with our health care team stronger than ever, across research, banking, capital markets, sales, trading and corporate access.”
Prior to joining Cowen in 1998, Dr. Schmidt was a Vice President and Research Analyst covering the biotechnology sector for UBS Securities. Before joining UBS, he co-founded Cambridge Biological Consultants, a scientific consulting and research firm. He holds a B.A. in chemistry from the University of Pennsylvania and a Ph.D. in biochemistry from the Massachusetts Institute of Technology, where he serves on the Visiting Committee for the Department of Biology.
“I’ve watched and analyzed dozens of companies as they worked to bring innovative and transformative new therapies to the market,” said Dr. Schmidt. “I have greatly admired the team and investors behind Allogene and consider myself very fortunate to be in a position to help make a difference in the lives of patients who are facing cancer.”
Allogene is advancing its allogeneic CAR T portfolio acquired from Pfizer which included the rights to 16 preclinical CAR T assets licensed from Cellectis and Servier and U.S. rights to UCART19, an allogeneic CAR T therapy that is being developed for the treatment of CD19-expressing hematological malignancies. In partnership with Servier, UCART19 is in Phase 1 for the treatment of acute lymphoblastic leukemia (ALL).
About Allogene Therapeutics
Allogene Therapeutics is a biotechnology company with a mission to catalyze the next revolution in cancer treatment through the development of allogeneic chimeric antigen receptor T-cell (CAR T) therapy directed at blood cancers and solid tumors. Founded and led by former Kite Pharma executives who bring unrivaled clinical development acumen in cell therapy, Allogene is well-positioned to further the potential of allogeneic cell therapy for patients.
Allogeneic CAR T therapies are engineered from cells of healthy donors and stored for “off-the-shelf” use in patients. This approach eliminates the need to create personalized therapy from a patient’s own cells, simplifies manufacturing, and reduces the time patients must wait for CAR T treatment. The Allogene portfolio includes 16 pre-clinical T cell therapy assets and UCART19, an allogeneic CAR T therapy currently in Phase 1 development for the treatment of acute lymphoblastic leukemia (ALL). Through its notable partnerships, Allogene leverages pioneering technology platforms, including TALEN® gene editing technology, to progress its portfolio of immuno-oncology therapies. Allogene, with headquarters in San Francisco, California, is a Two River portfolio company formed with one of the largest Series A financings in biotechnology from an investment consortium that includes TPG, Vida Ventures, BellCo Capital, the University of California Office of the Chief Investment Officer, Gilead and Pfizer. For more information, please visit www.allogene.com, and follow @AllogeneTx on Twitter and LinkedIn.
About Cowen Inc.
Cowen Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, sales and trading, prime brokerage, global clearing and commission management through its two business segments: Cowen Investment Management and its affiliates make up the Company’s alternative investment segment, while Cowen and Company, a member of FINRA and SIPC, and its affiliates make up the Company’s investment bank segment. Cowen Investment Management provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research, a sales and trading platform for institutional investors and a comprehensive suite of prime brokerage services. Founded in 1918, the firm is headquartered in New York and has offices worldwide. For additional information, visit www.cowen.com.