Avalo Therapeutics Taps Industry Leader Dr. Mittie Doyle As New Chief Medical Officer

Avalo Therapeutics, Inc., has appointed Mittie Doyle, MD, FACR, as its new Chief Medical Officer, the company announced today. Dr. Doyle brings over two decades of expertise in the pharmaceutical and biotech sectors, having served in various leadership capacities in clinical development. Prior to joining Avalo Therapeutics as Chief Medical Officer, she held the same role at Aro Biotherapeutics from 2021. Currently, Dr. Doyle also sits on the Board of Directors at Santa Ana Bio, following her previous tenure on the Board at DICE Therapeutics until its acquisition by Eli Lilly and Company. Before her time at Aro Biotherapeutics, she distinguished herself as Vice President, Global Therapeutic Area Head of Immunology at CSL Behring.

Her career includes significant roles at Shire Pharmaceuticals, Flexion Therapeutics, and Alexion Pharmaceuticals, where she played pivotal roles in advancing treatments for immune-mediated and orphan diseases. Dr. Doyle's leadership has guided teams through the design and execution of pivotal trials, leading to multiple global regulatory approvals. She earned her BA magna cum laude in Romance Languages from Princeton University and her MD cum laude from Yale Medical School. Dr. Doyle completed her postdoctoral training at Harvard Medical School, including residency in Internal Medicine at Massachusetts General Hospital and a clinical/research fellowship in Rheumatology and Immunology at Brigham and Women’s Hospital.

Garry A. Neil, MD, CEO and Chairman of the Board at Avalo, said in a statement, “We are thrilled to have Mittie join and grow our leadership team at an exciting time as we prepare to initiate our Phase 2 LOTUS Trial in patients with hidradenitis suppurativa. Mittie brings to Avalo a strong combination of drug development experience through all stages of development and exceptional expertise in immunology, rheumatology and dermatology. Her leadership guided by her robust experience will be invaluable to the company as we progress AVTX-009 in hidradenitis suppurativa and plan for the asset’s development in additional inflammatory conditions.”

“I am honored to join the leadership team at this important time for Avalo. Hidradenitis suppurativa is a disease that can significantly impact quality of life and there is a large unmet need for patients suffering from it. I believe AVTX-009 has the potential to become a best-in-class and best-in-disease treatment and I’m eager and focused on executing the Phase 2 LOTUS Trial as an important next step to realize that potential. AVTX-009 has broad potential to help patients suffering from of a number of inflammatory conditions and I am looking forward to initiating additional trials in new indications with the ultimate goal to improve the quality of life for these patients,” said Dr. Doyle.

Following the appointment of Dr. Doyle, Avalo's Board of Directors has approved a non-qualified stock option grant as part of her employment agreement. The grant allows Dr. Doyle to purchase 234,000 shares of Avalo's common stock, with vesting over a four-year period and a twelve-month cliff. Specifically, the initial 25% of the stock option will vest on the first anniversary of Dr. Doyle's start date with Avalo, and the remaining shares will vest in equal monthly increments over the subsequent three years, contingent upon Dr. Doyle's continuous employment with Avalo.

This stock option was awarded to Dr. Doyle on her start date of July 15, 2024, as a significant inducement for her to join Avalo, in compliance with Nasdaq Listing Rule 5635(c)(4). The exercise price of the option is set at the closing price of Avalo’s common stock on The Nasdaq Capital Market on July 15, 2024, and its terms and conditions are governed by the stock option agreement associated with the grant.