LIB Therapeutics Appoints David Cory as Chief Executive Officer as Lead Clinical Programs Achieve Phase 3 Completion

-- Industry veteran brings more than 30 years of operational experience, in large pharma and emerging stage biotech, private and public companies, with extensive commercial experience and an established track record of financing in the capital markets

-- Lerodalcibep, a novel, next generation PCSK9 inhibitor and the Company’s lead program, is expected to complete Phase 3 in 4Q’23; BLA and MAA filings planned in 1H’24

CINCINNATI--(BUSINESS WIRE)--LIB Therapeutics Inc. (LIB), a late-stage biopharmaceutical company developing subcutaneous and oral PCSK9 inhibitor therapies for patients at very high and high-risk of cardiovascular disease (CVD), today announced that the Board of Directors has appointed David Cory as Chief Executive Officer and a member of the Board of Directors, effective immediately. Evan Stein, MD, PhD, who has served as the CEO since co-founding LIB in 2015, will continue in a full-time operational role as Chief Operating Officer and Chief Scientific Officer.

Mr. Cory brings more than 30 years of leadership and operational experience in public and private, large pharma and emerging stage biotechnology companies, with an extensive commercial background spanning launches of global blockbuster products and targeted therapeutics for rare diseases, an established track record in the capital markets with over $1B+ raised and multiple companies which have successfully resulted in acquisition.

“We are pleased to welcome David as our new CEO and Board member,” said August Troendle, MD, LIB co-founder and Chairman of the LIB Board. “David’s track record and credibility in transforming private late-stage biopharma into public commercial companies makes him the ideal candidate for LIB and our late-stage lerodalcibep program.”

“With development of lerodalcibep close to completion and BLA submission planned for Q1 next year, David’s well-proven operating and commercial experience, combined with his drive and enthusiasm, is optimally suited to lead the company as it transitions to commercialization of lerodalcibep in the U.S, Europe, and rest of world,” said Evan Stein, MD, PhD, LIB co-founder and Board member.

David Cory said, "Lerodalcibep has a compelling clinical profile and differentiates itself in a growing PCSK9 inhibitor market which will approach $3 billion in 2023 and on target to reach or exceed $5 billion in 2025 when we anticipate approval and launch. I look forward to working with the LIB Board and the LIB operating team to make this exciting new therapy available for patients and healthcare providers in the future.”

About David Cory

Mr. Cory co-founded and most recently was President, CEO, and Director of Eiger BioPharmaceuticals, a commercial-stage company focused on the development of innovative therapies for serious, orphan diseases, and was responsible for negotiating multiple technology and product licenses, taking the company public, and obtaining the company’s first FDA and EMA product approvals. Previously, Mr. Cory was President and Chief Operating Officer of Prestwick Pharmaceuticals, an orphan CNS specialty pharmaceutical company, which was acquired by Biovail. Earlier, Mr. Cory was a co-founder of CoTherix, an orphan pulmonary arterial hypertension company, which was acquired by Actelion. Mr. Cory began his biotech career with the founding team at InterMune where he was Senior Vice President of Sales and Marketing. InterMune was acquired by Roche for $8 billion. Mr. Cory spent over a decade in large pharma in positions of increasing responsibility at Glaxo Smith Kline and The Upjohn Company. Mr. Cory earned a BS in Pharmacy from the University of Cincinnati, College of Pharmacy, was board certified in Pharmacy in the state of Ohio and holds an MBA from the University of Maryland.

About Lerodalcibep

Lerodalcibep is a next-generation, PCSK9 inhibitor in development to potentially overcome the limitations of current low-density lipoprotein (LDL-C), or ‘bad’ cholesterol, lowering treatments and reach new national and international guidelines to treat and prevent cardiovascular disease (CVD). The convenient, small injection volume, monthly dosing and long ambient stability combined with excellent and sustained LDL-C efficacy, lerodalcibep, if approved, will increase the treatment options for patients, including the 30 million with more severe inherited high-cholesterol, called familial hypercholesterolemia (FH). LIB Therapeutics expects to submit a biologics license application (BLA) with FDA in Q1 2024 and marketing authorization application (MAA) with EMA in Q2 2024.

About Phase 3 LIBerate Program

LIBerate is a large, comprehensive global Phase 3 program composed of 5 key studies with lerodalcibep in over 2,500 patients in patients with cardiovascular (CVD), very high and high-risk for CVD, heterozygous familial hypercholesterolemia (He-FH) and homozygous FH (Ho-FH). The Phase 3 studies LIBerate-HoFH (LIB-003-003, n=65) and LIBerate-HeFH (LIB-003-004, n=479) have completed and met their primary endpoints. The final two Phase 3 pivotal trials, LIBerate-CVD (LIB-003-005, n=923) and LIBerate-HR (LIB-003-006, n=923), added to maximally tolerated oral lipid-lowering therapies to assess LDL-lowering in CVD, very high and high-risk for CVD patients are anticipated to complete in early November.

About LIB Therapeutics Inc.

LIB Therapeutics is a privately held, late-stage biopharmaceutical company dedicated to bringing novel, safe and convenient subcutaneous and oral PCSK9 inhibitors to the millions of patients with cardiovascular disease, and the 30 million with familial hypercholesterolemia (FH), who require additional large reductions in low density lipoprotein-cholesterol (LDL-C) despite maximally tolerated statins and other lipid lowering agents.

For more information, please visit: www.libtherapeutics.com.

Kate Caldwell at kcaldwell@libtherapeutics.com