Aptevo Therapeutics Augments Leadership Team

Appoints Former GlaxoSmithKline Executive Randy Maddux 
Senior Vice President, Operations

Jane Gross, Ph.D., Promoted to Senior Vice President and Chief Scientific Officer

SEATTLE, Sept. 15, 2016 -- Aptevo Therapeutics Inc. (Nasdaq:APVO), a biotechnology company focused on developing novel oncology and hematology therapeutics, today announced that Randy J. Maddux has joined the Company as Senior Vice President, Operations, effective July 2016.  Mr. Maddux brings more than 30 years of biopharmaceutical operations experience and has served in key roles supporting the licensure and launch of several successful biopharmaceutical products, including, Avonex^®, Tysabri^®, Benlysta^® and Raxibacumab.

“We are delighted to welcome Randy to the executive leadership team at Aptevo,” said Marvin White, President and Chief Executive Officer. “Randy’s expertise in protein therapeutic development and manufacturing is instrumental to our vision of developing and advancing novel immuno-oncology therapeutics based on our proprietary ADAPTIR™ bispecific antibody technology platform.  We view ‘manufacturability’ and ‘stability’ as critical success factors for bispecific antibody platforms and consider these characteristics to be important differentiators for the ADAPTIR™ platform.  Randy’s knowledge and leadership in the field will be invaluable as we develop and advance our ADAPTIR™ product candidates to address important unmet medical needs.”

In his new role at Aptevo, Mr. Maddux will work closely with the research, clinical and regulatory organizations to set strategic direction and provide operational support for the development of novel bispecific antibody candidates derived from Aptevo’s proprietary ADAPTIR™ platform.  He will also provide oversight and direction in support of the supply chain for the Company’s four commercial products – IXINITY^®, WINRHO^®, HEPAGAM B^® and VARIZIG^®.

Prior to joining Aptevo, Mr. Maddux served as Vice President and Site Director at GlaxoSmithKline, where he led the largest biopharmaceutical development and manufacturing site within the GSK manufacturing network.  Before that, Mr. Maddux served as Vice President of Manufacturing Operations at Human Genome Sciences, where he held executive responsibility for all activities associated with the manufacture of therapeutic proteins.  Prior to joining Human Genome Sciences, Mr. Maddux held various leadership roles in operations and quality at Biogen and Glaxo.  Mr. Maddux holds a M.B.A. from Duke University and a B.S. from East Carolina University.

Mr. White continued, “We are also pleased to announce the promotion of Jane Gross, Ph.D., to the position of Senior Vice President and Chief Scientific Officer.  Jane has been instrumental in advancing the research and non-clinical development efforts for our ADAPTIR™ platform under our predecessor company, Emergent BioSolutions.  Her expertise in immunology and protein therapeutics is an important asset as we strive to develop and advance novel immuno-oncology bispecific antibody candidates based on our ADAPTIR™ platform.” 

Dr. Gross has a Ph.D. in immunology and over twenty-five years of experience in the discovery and development of novel protein therapeutics in autoimmune, infectious disease and oncology indications. Prior to joining Emergent, Dr. Gross served as Vice President of Immunology Research at ZymoGenetics Inc., where she led efforts directed at the discovery and development of therapeutics for the treatment of autoimmune disorders, infectious diseases and cancer.

About Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. is a biotechnology company focused on novel oncology and hematology therapeutics to meaningfully improve patients’ lives. Our core technology is the ADAPTIR™ (modular protein technology) platform. Aptevo has four commercial products in the areas of hematology and infectious diseases, as well as various investigational stage product candidates in immuno-oncology.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, statements regarding the potential opportunities and financial impact of the transaction, our technology and related pipeline, collaboration and partnership opportunities and any other statements containing the words “believes,” “expects,” “anticipates,” “intends,” “plans,” “forecasts,” “estimates,” “will” and similar expressions are forward-looking statements. These forward-looking statements are based on Aptevo’s current intentions, beliefs and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo’s expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, Aptevo does not undertake to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause our actual results to differ materially from those indicated by such forward-looking statements, including possible negative effects on our business operations, assets or financial results as a result of the separation; a deterioration in our business or prospects; adverse developments in our customer-base or markets; adverse developments in the U.S. or global capital markets, credit markets or economies generally; and changes in regulatory, social and political conditions. Additional risks and factors that may affect results are set forth in our filings with the Securities and Exchange Commission, including our Registration Statement on Form 10, as amended. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. 

Aptevo Therapeutics
Stacey Jurchison
Senior Director, Investor Relations and Corporate Communications
206-859-6628
[email protected]