AVEO Oncology is a commercial-stage, oncology-focused biopharmaceutical company that is committed to delivering medicines which provide a better life for patients with cancer. AVEO currently markets FOTIVDA® (tivozanib) in the U.S. to treat adult patients with relapsed or refractory renal cell carcinoma (RCC) following two or more prior systemic therapies. AVEO continues to develop FOTIVDA with immuno-oncology combinations in RCC and other indications and alsohas several other investigational programs in clinical development. AVEO is determined to create an environment of diversity, equity, and inclusion to expand representation within the company.
Transitioning the Lives of Cancer Patients
AVEO’s mission is to improve the lives of cancer patients. For the past twenty-years starting from 2001 with its inception as Genpath and to changing as AVEO in the year 2005, the company was on a journey to fulfil its aim. AVEO went public in 2010 and has always worked tirelessly towards developing a portfolio of products that are intended to benefit the patients battling cancer. In March of 2021, AVEO received its first FDA approval for the company’s lead compound that is now commercially available for kidney cancer patients who have progressed on with two or more prior therapies.
An Inclusive and Encouraging Leader
Michael Bailey is the CEO of AVEO. He took up the role in 2015 and has led the company through the design, funding, and execution of the pivotal study which acted as the basis of its very first cancer drug approval. Michael has consistently encouraged AVEO to achieve its full potential by energizing their team to stay focused on the patient and to have fun along the challenging journey. His quality of embracing diversity, encouraging inclusion, and his spirit of accountability to the company mission are some of the key elements that drove the company towards success. Michael never lets anybody forget what they are doing at AVEO, why there are doing so, and how it is improving the lives of cancer patients.
Turning Sorrows into Smiles with Advanced Products
AVEO’s end customers are the patients and hence the company always tries its best to focus its efforts to improve their lives states Michael. He adds that AVEO believes that its recently approved product for kidney cancer, along with other products in the development portfolio have the potential to improve the lives of various types of cancer patients. AVEO is one of the many companies in the industry that is pursuing a noble mission and its recent success is positively contributing to the biotechnological industry by providing the oncology community with additional potential treatment options to address the significant unmet medical needs of cancer patients.
Strategically Meeting the Unmet Needs
According to Michael, AVEO’s products and culture are the two factors that make the company both innovative and unique. It is focused on developing drugs to address the significant unmet needs of cancer patients. As a cornerstone of AVEO’s strategy that also helps to accomplish its goals, the company has sought to leverage partnerships to move its products forward. AVEO’s culture embraces diversity, demands integrity, relies on collaboration, and ensures an engaging work environment by maintaining a common drive to achieve the mission of improving the lives of patients with cancer.
Clinical and Regulatory Norms, A Never-Ending Challenge
AVEO has faced many challenges during the past 20 years of existence. Michael reveals that these included clinical and regulatory setbacks along with funding challenges that required restructuring of the organization and also refocusing its strategic path to advance its programs. Many companies in the healthcare industry face these challenges, however, what is remarkable about AVEO is that the company not only survived these events but has evolved into a commercial and clinical organization which advances the portfolio by delivering potentially promising agents to the oncology community. Despite all the difficulties, AVEO is now able to provide one of its therapies as a treatment option for certain kidney cancer patients.
FDA Approval as the Gift of Continuous Service
Michael remarks that AVEO’s biggest achievement or recognition to date is being granted approval by the U.S. Food and Drug Administration (FDA) FDA to bring a product to patients. Only one in ten products that enter the clinical industrywill gain an approval and for a small company with limited resources like AVEO, getting the FDA’s approval is much rarer of an achievement. Recently, AVEO announced that the FDA granted Fast Track Designation (FTD) to ficlatuzumab for the treatment of patients with relapsed or refractory head and neck squamous cell carcinoma. Ficlatuzumab is AVEO’s investigational potenthepatocyte growth factor (HGF) immunoglobulin G1 (IgG1) inhibitory antibody that binds to the HGF ligand. HGF is the natural ligand of c-Met and blocking HGF inhibits signaling through the HGF/c-Met signaling pathway.
Future that Seems Bright
AVEO is very encouraged by the prospects of the company’s pipeline and the biotech industry that it is a part of. Collectively, Michael says that AVEO hopes to continue its efforts in meeting the significant unmet needs of the cancer patients the company serves by providing hope and by improving the lives of the cancer warriors.