FOSTER CITY, Calif.--(BUSINESS WIRE)--Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM), a biopharmaceutical company focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases, today announced the appointment of Peter Radovich as its chief operating officer with oversight of commercial operations, technical operations, supply chain and corporate development. Mr. Radovich joins Mirum with nearly 20 years leading biopharmaceutical development and commercialization programs, having served most recently as executive vice president, operations for South San Francisco-based Global Blood Therapeutics.
“I am thrilled to welcome Peter to Mirum and look forward to working together to deliver new treatments to patients with rare liver diseases,” said Chris Peetz, president and chief executive officer, Mirum. “Peter is an effective leader and brings a patient-first mentality fitting with the Mirum strategy. His extensive experience launching life-changing medicines and recent NDA experience make him an impactful addition to our leadership team as we prepare to initiate a rolling submission of a new drug application with the FDA for maralixibat for the treatment of cholestatic pruritus associated with Alagille syndrome in the third quarter of 2020.”
In connection with his employment, the Compensation Committee of Mirum’s Board of Directors granted Mr. Radovich an inducement award consisting of a non-qualified stock option to purchase 185,000 shares of common stock under Mirum’s 2020 Inducement Plan. The Compensation Committee of Mirum’s Board of Directors approved the award as an inducement material to Mr. Radovich’s employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price per share equal to $16.26 per share, Mirum’s closing trading price on April 28, 2020, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to Mr. Radovich's continued service relationship with Mirum through the applicable vesting dates. The award is subject to the terms and conditions of Mirum’s 2020 Inducement Plan and the terms and conditions of an award agreement covering the grant.
About Mirum Pharmaceuticals
Mirum Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a late-stage pipeline of novel therapies for debilitating liver diseases. The company’s lead product candidate, maralixibat, is an investigational oral drug in development for Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC). For more information, visit MirumPharma.com. Follow Mirum on Twitter, Facebook and LinkedIn.
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the regulatory approval path for maralixibat. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “plans,” “will”, “believes,” “anticipates,” “expects,” “intends,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Mirum’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with the COVID-19 pandemic, including, but not limited to, related federal and state regulations, the duration of the pandemic, disruptions at the FDA and other government agencies, and the resulting health and economic implications, Mirum’s business in general, and the other risks described in Mirum’s filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Mirum undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.