Elevar Therapeutics Debuts New Corporate Headquarters in Fort Lee, New Jersey

Presence in pharmaceutical industry hotbed allows Elevar to recruit top talent as it continues toward a commercial launch of cancer drug rivoceranib

FORT LEE, N.J., March 07, 2023 (GLOBE NEWSWIRE) — Elevar Therapeutics, Inc., a fully integrated biopharmaceutical company dedicated to elevating treatment experiences and outcomes for patients who have limited or inadequate therapeutic options, today announced the opening of its new corporate headquarters in Fort Lee, New Jersey.

The move from Elevar’s former headquarters in Salt Lake City comes as the company prepares to file a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA) for rivoceranib, an oral tyrosine kinase inhibitor (TKI). Elevar and its parent company, HLB, are developing rivoceranib in combination with Hengrui Pharma’s PD-1, camrelizumab, as a treatment option for hepatocellular carcinoma (HCC), the most common type of liver cancer. Elevar intends to submit the NDA filing for the combination therapy during the first half of 2023.

“Elevar is excited to debut our U.S. headquarters in New Jersey as we move closer to an NDA for rivoceranib in combination with camrelizumab as a treatment option for patients with unresectable HCC,” said Saeho Chong, chief executive officer of Elevar. “Now is the right time to make this move, establishing Elevar’s presence amid some of the biggest pharmaceutical companies in the world, and some of the best talent.”

The new office is located in 1 Bridge Plaza (North Central Road, Suite 850, Fort Lee, N.J., 07024), directly across the Hudson River from New York City. Elevar will maintain an office in Utah and also has offices in California, Ireland and South Korea.

“Though Elevar is fully committed to remaining a remote work company, locating our headquarters in New Jersey will help us further build our staff and give team members an option to work from our offices should they wish to,” said Chong. “We are thrilled to call Fort Lee home.”

About Rivoceranib
Rivoceranib is the first small-molecule tyrosine kinase inhibitor (TKI) approved in gastric cancer in China (November 2014). Rivoceranib is a highly potent inhibitor of vascular endothelial growth factor receptor 2 (VEGFR-2), a primary pathway for tumor angiogenesis. VEGFR-2 inhibition is a clinically validated approach to limit tumor growth and disease progression. Rivoceranib is co-developed by Hengrui Pharma in China and by Elevar Therapeutics, Inc. globally (excluding China). It has been studied in more than 6,000 patients worldwide and was well tolerated in clinical trials with a comparable safety profile to other TKIs and VEGF inhibitors. Rivoceranib is currently being studied as a monotherapy and in combination with chemotherapy and immunotherapy in various solid tumor indications. Clinical studies are ongoing in multiple solid tumor types including gastric cancer (as a monotherapy and in combination with paclitaxel), hepatocellular carcinoma (HCC) (in combination with camrelizumab), adenoid cystic carcinoma (as monotherapy) and colorectal cancer (in combination with Lonsurf^®). Orphan drug designations have been granted in gastric cancer (U.S., EU and South Korea), in adenoid cystic carcinoma (U.S.) and in HCC (U.S.). Elevar holds the global rights (excluding China) and has partnered for the development and marketing of rivoceranib with HLB-LS in South Korea. Rivoceranib, under the name apatinib, is currently approved in China for advanced gastric cancer and in second-line advanced HCC by the Chinese-territory license-holder, Hengrui Pharma, under the brand name Aitan^®.

About Elevar Therapeutics

Elevar Therapeutics, Inc. is a rapidly growing, fully integrated biopharmaceutical company built on the promise of elevating treatment experiences and outcomes for patients who have limited or inadequate therapeutic options. Elevar’s lead proprietary drug candidates include rivoceranib and paclitaxel micellar (Apealea^®). Rivoceranib, under the name apatinib in China, was developed by Hengrui Pharma in China and approved in China as a single agent for treatment of gastric cancer in 2014 and second-line advanced HCC in 2020. It has been granted Orphan Drug Designation in the U.S., Europe and South Korea and has been clinically tested in more than 1,000 patients worldwide in numerous cancer indications. Apealea^® is a non-Cremophor EL based formulation of paclitaxel that received marketing authorization by the European Commission in November 2018, making it Europe’s first non-Cremophor EL formulation of paclitaxel approved for use in ovarian cancer. Elevar is headquartered in New Jersey, with offices in Utah, California, Ireland and South Korea. Additional information is available at ElevarTherapeutics.com.

Media Contact
Rosemary Ostmann
Phone: 201-615-7751
Email: rostmann@rosecomm.com

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