Athenex Announces Appointment of Chief Financial Officer

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Athens, Inc.

BUFFALO, NY, Feb. 22 10, 2022 (GLOBE NEWSWIRE) — Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer and related conditions, announced today today that Mr. Joe Annoni will join Athenex as the company’s new Chief Financial Officer and Director, effective immediately.

Mr. Annoni is an accomplished finance professional and has enjoyed a multi-faceted career in private equity, investment banking and Big4 advisory, with over 20 years of experience in corporate finance.

“The Board of Directors joins me in welcoming Joe to his new role as Chief Financial Officer,” said Johnson Lau, CEO of Athenex. “Joe’s appointment will provide Athenex with seasoned financial leadership to help us achieve our corporate goals. We look forward to the contributions he will make to our future success.

Mr Annoni, Chief Financial Officer, said, “I am honored to join Athenex’s leadership team at such a crucial time and lead its finance organization as we refocus the company’s efforts to create shareholder value. . Our commitment to improving the lives of cancer patients is at the heart of the entire organization, and my goal is to strengthen our financial footing as we work to achieve our goals.

Prior to joining Athenex, Mr. Annoni held the position of Managing Director at GFW Partners, a boutique consulting firm. Prior to GFW, Joe was a founding member of Capital NHL where he led the private equity and venture capital investment activities. Before co-founding NHA, he was vice president of an investment bank Capital Roth where he led M&A and capital markets advisory assignments. Early in his career, Joe worked at PricewaterhouseCoopers advising Fortune 100 clients on a wide range of engagements, including strategy, acquisitions, divestitures, restructuring and operational improvements.

Joe got a BS from The University of Virginiaan MBA from Carnegie Mellon Universityand is a CFA charter holder.

About Athenex, Inc.

Founded in 2003, Athenex, Inc. is a global clinical-stage biopharmaceutical company dedicated to becoming a leader in the discovery, development and commercialization of next-generation drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform and a Global Supply Chain Platform. The Company’s current clinical pipeline is mainly derived from the following core technologies: (1) Orascovery, based on P-glycoprotein inhibitor, (2) Src kinase inhibition and (3) cell therapy. Athenex employees around the world are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. For more information, visit www.athenex.com.

Forward-looking statements

Except for historical information, all statements, expectations and assumptions in this press release are forward-looking statements. These forward-looking statements are generally identified by terms such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “expect”, “objective”, “guidance”, “intend”, “probable”, “may”, “plan”, “potential”, “predict”, “preliminary”, “probable”, “project”, “promising”, “seek”, “should “, “will”, “will” and similar expressions. Actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially include: whether or not we complete the sale of our stake in the Dunkirk manufacturing facility and enter into a preferred contract manufacturing agreement with ImmunityBio, the stage of development of our lead clinical candidates, including NKT cell therapy and associated risks related to drug development, clinical trials, regulation, uncertainties surrounding regulatory reviews and approvals; our ability to scale our manufacturing and commercial supply operations for current and future approved products, and our ability to commercialize our products, once approved; ability to successfully demonstrate the safety and efficacy of its drug candidates and to obtain timely approval of its drug candidates, as required; preclinical and clinical results of Athenex’s drug candidates, which may not support further development of such drug candidates; risks related to our ability to successfully integrate Kuur’s business into our existing businesses, including uncertainties associated with maintaining relationships with customers, suppliers and employees, as well as differences in operations, cultures and management philosophies that may delay successful integration and our ability to bear the additional cost burden of Kuur’s business; risks relating to the performance of counterparties, including our dependence on third parties to succeed in certain areas of Athenex’s business; our history of operating losses and our need and ability to raise additional capital to continue our business; uncertainties surrounding our ability to enter into new financing agreements as we are unable to meet the financing conditions under our existing financing agreements and access capital thereunder; risks and uncertainties inherent in litigation, including purported shareholder class actions; risks and uncertainties related to the COVID-19 pandemic and its continued impact on our operations, supply chain, cash flows and financial condition; competetion; intellectual property risks; uncertainties regarding our ability to successfully integrate the acquired and merged businesses in a timely and cost-effective manner and to realize synergies; risks relating to international business and China; the risk of development, operational delays, production slowdowns or stoppages or other disruptions at our manufacturing facilities as well as our ability to secure alternative sources of supply to meet our obligations and requirements; and other risk factors set forth from time to time in our filings with the SEC, copies of which are available free of charge in the Investor Relations section of our website at http://ir.athenex.com /phoenix.zhtml?c=254495&p= irol-sec or on request from our Investor Relations Department. All information provided in this release is as of the date hereof and we undertake no obligation and do not intend to update these forward-looking statements except as required by law.

Athenex contacts

Investors

Daniel Lang, MD
Athens, Inc.
Email: [email protected]

Caileigh Dougherty
Athens, Inc.
Email: [email protected]

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