NEW HAVEN, Conn., April 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 Randy Teel, Ph.D., to the newly created role of Chief Business Officer. Dr. Teel currently serves as Arvinas' interim Chief Financial Officer and Treasurer, and in his new role, he will remain a member of the Executive Committee reporting to Chairperson, President and Chief Executive Officer, John Houston, Ph.D. Dr. Teel will remain in these interim roles at Arvinas while the board of directors continues its search for a permanent Chief Financial Officer and Treasurer.

"We are delighted to announce Randy's promotion to Chief Business Officer," said John Houston, Ph.D., Chairperson, President and Chief Executive Officer at Arvinas. "Over his nearly six years at Arvinas, Randy has demonstrated exceptional leadership. Since our 2018 initial public offering, he has fostered strong relationships with investors and partners alike. His dedication and strategic vision have been instrumental in our growth, and we're excited to see him drive our business forward in this new role."

Dr. Teel has nearly 20 years of experience in the biopharmaceutical industry. At Arvinas, in addition to finance, he also leads corporate strategy, business development, investor relations, and communications.

"I am incredibly excited to continue to advance our business in this new role," said Dr. Teel. "Over the years, I've witnessed the remarkable dedication and innovation at Arvinas, and I'm honored to continue to contribute to our efforts as we bring new potential therapies to patients. With a solid foundation laid and a dynamic team in place, I look forward to working with our leadership and employees to deliver exceptional value to our stakeholders."
About Arvinas
Arvinas is a clinical-stage biotechnology company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies that degrade disease-causing proteins. Arvinas uses its proprietary PROTAC Discovery Engine platform to engineer proteolysis targeting chimeras, or PROTAC targeted protein degraders, that are designed to harness the body's own natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins. In addition to its robust preclinical pipeline of PROTAC protein degraders against validated and "undruggable" targets, the company has four investigational clinical-stage programs: vepdegestrant (ARV-471) for the treatment of patients with locally advanced or metastatic ER+/HER2- breast cancer; ARV-766 and bavdegalutamide for the treatment of patients with metastatic castration-resistant prostate cancer; and ARV-102 for the treatment of patients with neurodegenerative disorders. For more information, visit www.arvinas.com.

Arvinas Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding Arvinas' ability to bring its technology to patients and the potential therapeutic benefits of the product candidates in Arvinas' PROTAC protein degrader pipeline. The words "believe," "expect," "may," "plan," "potential," "will," "continue," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Arvinas may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on such forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements made as a result of various risks and uncertainties, including but not limited to: Arvinas' approach to the discovery and development of product candidates based on its PROTAC technology platform is unproven, which makes it difficult to predict the time, cost of development and likelihood of successfully developing any products; Arvinas' ability to protect its intellectual property position; whether cash and cash equivalent resources will be sufficient to fund Arvinas' foreseeable and unforeseeable operating expenses and capital expenditure requirements; and other important factors discussed in the "Risk Factors" section of the company's Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent other reports on file with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release reflect current views with respect to future events, and Arvinas assumes no obligation to update any forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing Arvinas' views as of any date after the date of this release.

Arvinas Contacts

Investor Contact:
Jeff Boyle, Arvinas Investor Relations
+1 (347) 247-5089
Jeff.Boyle@arvinas.com

Media Contact:
Kathleen Murphy, Arvinas Communications
+1 (760) 622-3771
Kathleen.Murphy@arvinas.com