LONDON and PHILADELPHIA, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Avacta Therapeutics (AIM: AVCT), a life sciences company developing next generation peptide drug conjugates (PDC) targeting powerful anti-tumor payloads directly to the tumor, today announced the appointment of Brian Hahn as Chief Financial Officer (CFO).

Mr Hahn brings more than 25 years of senior financial and operations experience in the biopharmaceutical industry, including a 15-year tenure as CFO and Senior Vice President of GlycoMimetics, Inc., where he led the company’s 2014 initial public offering (IPO) on Nasdaq and the build-out of its finance, accounting, investor relations and corporate affairs functions.

He has worked with life science companies from early stages through product launch, has significant experience in dealing with US healthcare investors, having been involved in multiple IPOs, and has raised over $700 million in capital. He has broad experience in developing strategic plans, business development deals, building strong organizations and establishing strong accounting and control systems which ensure Sarbanes-Oxley compliance.

Mr Hahn currently serves as co-chairman of the BIO Finance and Tax Committee, as a co-chairman of the Steering Committee of the Washington, DC chapter of the Association for Bio Financial Officers (ABFO) and has also served on the Securities and Exchange Commissions’ Advisory Committee on Small and Emerging Companies. Prior to his 15-year tenure at GlycoMimetics, Mr. Hahn held roles of increasing financial leadership responsibility, including Executive Director of Finance at MiddleBrook Pharmaceuticals (formerly Advancis Pharmaceutical), and earlier, Senior Accountant with Bering Truck Corporation.

He received a B.B.A. in Accounting from Shenandoah University and an M.B.A. from the University of Maryland.

“Brian brings the ideal combination of deep public company experience and understanding of the biotechnology sector that Avacta needs at this transformative stage,” said Christina Coughlin, M.D., Ph.D., Chief Executive Officer of Avacta. “His strategic insight and track record of successful financial leadership in clinical-stage companies will be essential as we advance our promising pipeline and prepare for our next phase of growth, including our potential dual listing on the Nasdaq exchange.”

“What drew me to Avacta was not just the company’s innovative technology platforms. It also has a clear vision for revolutionizing cancer treatment through targeted therapies that improve outcomes for patients and their families,” commented Brian Hahn. “The company has built a strong foundation with its pre|CISION^® and Affimer^® platforms, and I look forward to leveraging my experience to help accelerate Avacta’s growth and strengthen its position in both the U.K. and U.S. capital markets.”

For further information from Avacta, please contact:

About Avacta - www.avacta.com
Avacta Therapeutics is a clinical-stage life sciences company expanding the reach of highly potent cancer therapies with the pre|CISION^® platform. pre|CISION^® is a proprietary warhead delivery system based on a tumor-specific protease (fibroblast activation protein or FAP) that is designed to concentrate highly potent warheads in the tumor microenvironment while sparing normal tissues. Our innovative pipeline consists of pre|CISION^® peptide drug conjugates (PDC) or Affimer^® drug conjugates (AffDC) that leverage the tumor-specific release mechanism, providing unique benefits over traditional antibody drug conjugates.