ARVN - Arvinas Appoints Andrew Saik as Chief Financial Officer and Treasurer | Benzinga
- Awards Mr. Saik an Inducement Grant in accordance with Nasdaq Listing Rule 5635(c)(4) -
NEW HAVEN, Conn., June 24, 2024 (GLOBE NEWSWIRE) -- Arvinas, Inc. (NASDAQ:ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, today announced the appointment of Andrew Saik to the role of Chief Financial Officer and Treasurer reporting to Chairperson, Chief Executive Officer, and President, John Houston, Ph.D.
"It is a pleasure to welcome Andrew as our new Chief Financial Officer," said John Houston, Ph.D., Chairperson, Chief Executive Officer, and President at Arvinas. "Andrew is a seasoned executive in biopharma finance with extensive experience in strategic financial leadership. His expertise in developing robust financial strategies will be invaluable as Arvinas builds out the financial systems and infrastructure necessary to transition to a commercial-stage biotech and continues to execute multiple ongoing clinical-stage programs to prepare for a Phase 3 data readout."
Mr. Saik has more than 20 years of biopharma finance experience, most recently serving as Chief Financial Officer at Intercept Pharmaceuticals, Inc. While at Intercept Pharmaceuticals, he led the effort to recapitalize the balance sheet by selling the international division for $450 million and then repurchasing $390 million in convertible debt with a combination of cash and stock. Prior to Intercept Pharmaceuticals, Mr. Saik was Chief Financial Officer of Vyne Therapeutics Inc., where he led a buildout of the company's finance department in the U.S., renegotiated debt obligations to provide the company with enhanced financial flexibility and helped raise over $135 million to fund operations. Prior to joining Vyne Therapeutics, Mr. Saik held CFO positions at PDS Biotechnology, Corp. (formerly Edge Therapeutics, Inc.), Vertice Pharma, LLC, and Auxilium Pharmaceuticals, Inc. Prior to Auxilium Pharmaceuticals, he was Senior Vice President, Finance and Treasurer at Endo Health Solutions, Inc., where he helped complete the acquisition of Paladin Labs and restructured $3 billion of debt into a new corporate structure.
"I am delighted to join this dynamic team ...