Anavex Life Sciences Corp. (NASDAQ:AVXL), a clinical-stage biopharmaceutical company developing drug candidates to treat Alzheimer’s disease, other central nervous system (CNS) diseases, pain and various types of cancer, today announced the appointment of Ulrich Elben, PhD as Vice President of Preclinical Operations. In this new role, Dr. Elben will oversee the pipeline development and optimization.
“What attracted me to join Anavex is the very impressive pipeline consisting of potential breakthrough therapies for indications with very high unmet medical need like Alzheimer’s disease and other indications having potential beneficial impact on patients’ lives,” said Ulrich Elben, PhD.
“We are pleased to welcome Dr. Elben to Anavex during this exciting time in our growth. He has both experience and a shared passion for bringing promising drug candidates through the development cycle to market in an effort to serve patients with devastating diseases,” said Dr. Christopher U. Missling, PhD, President and Chief Executive Officer for Anavex. “His expertise in the management of multidisciplinary programs is expected to add valuable depth to our team.”
Dr. Elben joins Anavex with extensive experience in global pharmaceutical development and research. His background includes roles as VP of Strategic Development Operations at Vertex Pharmaceuticals, with responsibilities including project and portfolio management as well as the development of an oncology project. In addition Dr. Elben served as a member of the Vertex drug development advisory board and drug product review committee. He was also Chief Development Officer at Avaant Pharmaceuticals, where he led the development of oncology projects across the USA, Europe and India. Earlier in his career, Dr. Elben was CEO of Axxima Pharmaceuticals in Munich, Germany.
Dr. Elben started his career with Sanofi-Aventis (former Hoechst Marion Roussel) in Europe and the USA, where his last position was deputy head of project management overseeing also Alzheimer’s and schizophrenia products. He and his teams were successful at bringing several drugs through the international development cycle and ultimately to market. Dr. Elben was also secretary of the Sanofi-Aventis drug development review committee.
Additionally, Dr. Elben has extensive, recent consulting experience with VCs, biotech companies and API manufacturing companies in the USA, Canada and Europe. He is currently a member of several organizations, including the CEO advisory board of the Florida Institute for the Commercialization of Public Research, BioFlorida and the Drug Information Association.
Dr. Elben received his PhD in organic chemistry from the University of Bonn, Germany. (Original Source)
Shares of Anavex Life Sciences are currently trading at $6.05, down $0.28 or 4.42%. AVXL has a 1-year high of $13 and a 1-year low of $0.60. The stock’s 50-day moving average is $7.78 and its 200-day moving average is $7.84.
On the ratings front, Maxim Group analyst Jason Kolbert reiterated a Buy rating on AVXL, with a price target of $15, in a report issued on November 30. The current price target implies an upside of 137.0% from current levels. According to TipRanks.com, Kolbert has a total average return of -11.3%, a 32.4% success rate, and is ranked #3634 out of 3644 analysts.