MISSISSAUGA, Ontario--(BUSINESS WIRE)--Evolve Biologics Inc. (“Evolve”), an innovative plasma-derived therapeutics company, today announced the appointment of Jim Caggiano as CEO. Mr. Caggiano’s nearly 30 years of experience, bringing life-saving products to the market in the biotech, pharma and medical device industries, will help accelerate commercialization of the company’s PlasmaCap EBA technology, which stands to disrupt the global plasma-derived therapeutics market with its high-quality product yields at improved levels of efficiency and reliability compared to currently available technologies. Mr. Caggiano joins the company’s proven leadership team of David Holliday, Chief Commercial Officer, and Mark Krause, Head of Plasma Proteins.
Evolve is in advanced stages of clinical development of IVIG (intravenous immunoglobulin) and Albumin (human serum albumin) for the US and Canadian markets. Estimated U.S. sales of IG (immunoglobulin) alone were over $8 billion in 2019, which has been growing by double digits annually.1 The company has completed its Phase III clinical trial, performed in the United States and Canada, for its IVIG candidate in both adults and pediatrics in preparation for a future BLA submission.
Gabriel de Alba, Chairman of Evolve Biologics and Managing Director and Partner at Catalyst Capital Group Inc., “We’re excited to welcome Jim Caggiano to the Evolve team. His leadership and track record delivering the critical regulatory, manufacturing and distribution components required to bring life-saving therapies to market will be invaluable as we move forward to serve and technologically disrupt the large and growing $24 billion global plasma-derived therapeutics market, with our proprietary PlasmaCap EBA.”
Mr. Caggiano added, “With the demand for some critical plasma-derived therapeutics, including IVIG, often outstripping global supply in the past, PlasmaCap EBA technology is a game-changer, with its impressive yields and efficiencies relative to current legacy processes. As we advance to the final stages to bring IVIG to market, I’m thrilled by this opportunity to join the highly accomplished Evolve team, whose work over the past eight years has laid the technology foundations for PlasmaCap EBA, while advancing IVIG through completion of Phase III trials.”
Jim Caggiano joins Evolve Biologics as CEO, after most recently serving as CEO of Dendreon Pharmaceuticals LLC. Among his earlier leadership roles in the biotech, pharmaceutical and medical device industries, Mr. Caggiano successfully directed the divestiture of Allergan’s LAP-BAND to Apollo Endosurgery in 2013. In 2015, he was hired by Valeant to run the Dendreon business, where he doubled the company’s enterprise value. He then developed and implemented the strategy for Dendreon’s sale in 2017 to Sanpower Group for $820M, who subsequently appointed him CEO, where he led the previously bankrupt enterprise to achieve over $100 million in EBITDA in 2018 and 2019. Earlier in his career, Mr. Caggiano held senior roles at Allergan, Inc., Abbott Laboratories and TAP Pharmaceuticals, where he led sales and marketing functions for Lupron®, a prostate cancer treatment.
Mr. Caggiano received a B.S. in agricultural economics (business) from Cornell University and an M.B.A. from the Kellogg School of Management at Northwestern University. Prior to entering industry, Mr. Caggiano served as an officer in the Armor Branch of the United States Army.
About PlasmaCap EBA®
PlasmaCap EBA is an innovative technology for efficient capture of plasma proteins at high yields and purities from human blood plasma. The technology uses proprietary affinity adsorbents in expanded bed adsorption (EBA) chromatography to capture plasma proteins directly from plasma or fractionated plasma materials without the use of precipitating solvents such as ethanol. Through substantial development efforts, PlasmaCap EBA® has been able to demonstrate significant capture yields for major therapeutic plasma proteins.
About Evolve Biologics® Inc.
Evolve Biologics Inc. is a leader in the development and commercialization of plasma-derived therapeutics, using its proprietary PlasmaCap EBA purification technology to more efficiently and effectively meet growing global patient demand for these life-saving products. The Company is currently in the process of commercializing an exciting and innovative portfolio of product candidates, including IVIG (intravenous immunoglobulin) and Albumin (human serum albumin), both of which are in advanced stages of regulatory approval in the US (FDA) and Canada (Health Canada). The Company is headquartered in Mississauga, Ontario, Canada. For more information, please visit: www.evolvebiologics.com.
Evolve Biologics® and PlasmaCap EBA® are registered trademarks of Evolve Biologics Inc.
1Source: MRB Worldwide Plasma Proteins Market Report 2018/ and MRB The Plasma Proteins Market in the United States 2019