Nuvation Bio Appoints Industry Veteran Philippe Sauvage as Chief Financial Officer

Global leader with proven financial, operational, and commercial expertise joins Nuvation Bio as the company prepares to transition into a commercial-stage organization

NEW YORK--(BUSINESS WIRE)-- Nuvation Bio Inc. (NYSE: NUVB), a late clinical-stage, global biopharmaceutical company tackling some of the greatest unmet needs in oncology, today announced the appointment of Philippe Sauvage as Chief Financial Officer (CFO).

Mr. Sauvage brings over 20 years of global leadership experience in finance, operations, and commercialization within healthcare and biopharmaceutical organizations. Most recently, as Global Head of Operations and Access at Sanofi, he oversaw strategic segments including commercial systems, multichannel strategy, and market access—key factors in supporting market growth and product launches. Mr. Sauvage previously served as CFO for Sanofi-Genzyme and Sanofi North America, where he led the financial operations for all U.S. entities in a $14 billion region. Concurrently, he steered the company’s Global Specialty Care business through a period of rapid transformation, resulting in double-digit growth. Earlier in his career, he served as CFO of Sanofi’s highly diversified $5 billion JPAC region and was the CFO for Japan, the organization’s second-largest commercial market. Mr. Sauvage also held the role of Chief Economic and Financial Officer at Assistance Publique Hôpitaux de Paris, the largest French public health institution and university hospital serving Paris and surrounding areas, with more than 100,000 employees and a €7 billion in revenue. Additionally, he held multiple leadership positions at the French Ministry of Health including Head of the Health Products Department, which managed the reimbursement of €30 billion in health products in France.

“We are excited to welcome Philippe to Nuvation Bio at such an important stage of our evolution,” said David Hung, M.D., Founder, President, and Chief Executive Officer of Nuvation Bio. “Philippe has successfully driven growth and led finance and operations teams across U.S., European, and Asian markets. Philippe’s uniquely broad skillset is reflected in his senior positions in pharmaceutical, hospital and government organizations. His strategic vision and insights that span finance and operations, to commercial strategy and marketing, to government and hospital reimbursement and market access, will be invaluable as we transition to a commercial-stage organization in 2025.”

“I am thrilled to join Nuvation Bio as the team prepares for the potential commercialization of taletrectinib and advances its differentiated oncology pipeline,” said Mr. Sauvage. “I look forward to working alongside David and the entire team to deliver better treatment options to people living with difficult-to-treat cancers.”

Mr. Sauvage holds a Research Masters in Macroeconomics from Panthéon-Sorbonne University in Paris. He also holds an M.S. in Engineering from École Polytechnique and completed an elite civil servant education in Corps des Mines at Mines ParisTech.

About Nuvation Bio

Nuvation Bio is a late clinical-stage, global biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel product candidates. Nuvation Bio’s portfolio of development candidates includes taletrectinib (ROS1), safusidenib (mIDH1), NUV-1511 (DDC), and NUV-868 (BET). Nuvation Bio was founded in 2018 by biopharma industry veteran David Hung, M.D., who previously founded Medivation, Inc., which brought to patients one of the world’s leading prostate cancer medicines. Nuvation Bio has offices in New York, San Francisco, Boston, and Shanghai. For more information, please visit www.nuvationbio.com and follow us on LinkedIn.

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, our expectations and timing of establishing a commercial organization. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management team of Nuvation Bio and are not predictions of actual performance. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ from those anticipated by the forward-looking statements, including but not limited to the challenges associated with conducting drug discovery and initiating or conducting clinical trials due to, among other things, difficulties or delays in the regulatory process, enrolling subjects or manufacturing or acquiring necessary products; the emergence or worsening of adverse events or other undesirable side effects; risks associated with preliminary and interim data, which may not be representative of more mature data; competitive developments; and establishing commercial capabilities. Risks and uncertainties facing Nuvation Bio are described more fully in its Form 10-Q filed with the SEC on August 5, 2024, under the heading “Risk Factors,” and other documents that Nuvation Bio has filed or will file with the SEC. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Nuvation Bio disclaims any obligation or undertaking to update, supplement or revise any forward-looking statements contained in this press release.

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Source: Nuvation Bio Inc.