ANN ARBOR, Mich.--(BUSINESS WIRE)--Millendo Therapeutics, Inc. (Nasdaq: MLND), a clinical-stage biopharmaceutical company primarily focused on developing novel treatments for orphan endocrine diseases with significant unmet needs, today announced the promotion of Thomas Hoover to the newly created position of Chief Commercial Officer. Mr. Hoover joined Millendo in 2016 and has served as the company’s Senior Vice President of Commercial Strategy.
“Tom has been instrumental in Millendo’s growth to date, and his promotion reflects his expanded responsibilities as well as his many contributions to the company,” said Julia C. Owens, Ph.D., President and Chief Executive Officer at Millendo Therapeutics. “His guidance and leadership on our commercial strategy will be invaluable as we transition to a new stage as an organization and lay the foundation for market readiness in advance of clinical and regulatory milestones for livoletide.”
“With our pipeline assets in development, including livoletide, Millendo has the potential to address significant gaps in the treatment of rare endocrine diseases, and it’s my pleasure to continue to serve those patient populations,” said Mr. Hoover. “As the company’s growth continues, we will be adding world-class talent to our team in order to support our efforts to bring breakthrough therapies to patients, families, caregivers and healthcare providers.”
As Chief Commercial Officer, Mr. Hoover will be responsible for the company’s marketing, sales, patient engagement and managed markets functions. Mr. Hoover previously served as Vice President of New Products Planning and Corporate Development at Sunovion Pharmaceuticals (formerly Sepracor), where he was responsible for product portfolio management and business development. Prior to Sunovion, Mr. Hoover was a Senior Director in the global commercial strategy group at GlaxoSmithKline, where he provided commercial insights into R&D decision making. Before starting his pharmaceutical career, he spent 4 years at The Boston Consulting Group. Mr. Hoover holds a B.A. in economics from Harvard College and an M.B.A. from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.
About Millendo Therapeutics, Inc.
Millendo Therapeutics is a late-stage biopharmaceutical company primarily focused on developing novel treatments for orphan endocrine diseases where current therapies do not exist or are insufficient. As a leading orphan endocrine company, Millendo creates distinct and transformative treatments where there is a significant unmet medical need. The company is currently advancing livoletide for the treatment of Prader-Willi syndrome, nevanimibe for the treatment of classic congenital adrenal hyperplasia and MLE-301 for the treatment of vasomotor symptoms associated with menopause. For more information, please visit www.millendo.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements regarding our plans to develop and commercialize our product candidates, the progress and timing of our ongoing and planned clinical trials for our product candidates, and the timing of and our ability to obtain and maintain regulatory approvals for our product candidates, and, therefore, you are cautioned not to place undue reliance on them. In some cases, you can identify forward-looking statements by the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. Such forward-looking statements are based on Millendo’s expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors, including that Millendo has incurred significant losses since inception, Millendo has a limited operating history and has never generated any revenue from product sales, Millendo will require additional capital to finance its operations, Millendo's future success is dependent on the successful clinical development, regulatory approval and subsequent commercialization of livoletide, nevanimibe and any future product candidates, preclinical studies or earlier clinical trials are not necessarily predictive of future results and the results of Millendo's clinical trials may not support Millendo's livoletide or nevanimibe claims, Millendo may encounter substantial delays in its clinical trials or Millendo may fail to demonstrate safety and efficacy to the satisfaction of applicable regulatory authorities, enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside Millendo's control, Millendo's product candidates may cause undesirable side effects or have other properties that could delay or prevent their regulatory approval, or limit their commercial potential and Millendo faces substantial competition. You should refer to the risk factor disclosure set forth in the periodic reports and other documents we file with the Securities and Exchange Commission available at www.sec.gov, including without limitation our including in the section entitled “Risk Factors” in our Quarterly Report on Form 10-Q for our fiscal quarter ended September 30, 2019 and subsequent reports that we file with the Securities and Exchange Commission.
New factors emerge from time to time and it is not possible for Millendo to predict all such factors, nor can Millendo assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements included in this press release are based on information available to Millendo as of the date of this press release. Millendo disclaims any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law.