International Industrial Cooperation Organization
Eiger BioPharmaceuticals Announces Leadership Change

President and CEO David A. Cory resigns from the company effective immediately

Dr. David Apelian named Interim CEO

PALO ALTO, Calif.--(BUSINESS WIRE)--Dec. 15, 2022-- Eiger BioPharmaceuticals, Inc. (“Eiger” or “the company”) (Nasdaq: EIGR), a commercial-stage biopharmaceutical company focused on the development of innovative therapies for hepatitis delta virus (HDV) and other serious diseases, and its Board of Directors today announced that David A. Cory has resigned as President, Chief Executive Officer and member of the Board of Directors, effective immediately.

David Apelian, MD, PhD, MBA, Senior Clinical Advisor and member of the Board of Directors, has been named as interim Chief Executive Officer and will also continue to serve on the company’s Board of Directors. The company plans to initiate an executive search to identify candidates to serve as a permanent CEO.

Dr. Apelian has 23 years of clinical development and regulatory experience with large pharmaceutical and biotechnology companies, including nearly six years in senior management, advisory and Board roles at Eiger. He has been serving as a Director since 2017 and in 2018 was appointed Chief Operating Officer and Executive Medical Officer, responsible for heading the company’s R&D, Medical and Regulatory Affairs operations. Following his departure from that position, he has been serving as a Director, Senior Clinical Advisor and board member at Eiger. Dr. Apelian was also the founding CEO of BlueSphere Bio. In addition, Dr. Apelian was Executive Vice President and Chief Medical Officer of Achillion Pharmaceuticals, Inc. where he was responsible for creating portfolio strategy and managing the company’s clinical development programs. Earlier in his career, he held senior management positions at Globelmmune, Bristol-Myers Squibb, and Schering Plough. Dr. Apelian has extensive experience in chronic hepatitis C, chronic hepatitis B, and rare diseases.

Thomas Dietz, PhD, non-executive Chairman of the Board, said, “On behalf of the Board, I would like to thank David Cory for his contributions as business founder and CEO during his 14-years with the company. We are optimistic about the future of Eiger and are pleased to have David Apelian oversee Eiger’s strong and experienced commercially-focused team and with a promising late-stage pipeline of multiple FDA Breakthrough Therapy designated programs during this period. David’s extensive experience and strong familiarity with Eiger’s business are valuable assets for the company, and are a reflection of the deep bench of talent at Eiger that will allow us to continue moving forward for patients. As part of this transition, Dr. Apelian and the Board intend to conduct a program prioritization assessment with a focus on enhancing long-term shareholder value.”

“It is a privilege to have the opportunity to lead the experienced management team at Eiger at this important time for the company,” said Dr. Apelian. “We have a number of promising opportunities across our commercial and clinical platforms, and I look forward to partnering with the Board in leading the entire organization as we evaluate our portfolio of assets to fulfill the promise of advancing our high-potential drug candidates for patients with serious diseases and ensuring access to Zokinvy for patients with Progeria."

Mr. Cory added, “It has been a pleasure seeing the company grow. I’m proud to have been a part of a great team and look forward to seeing future successes at Eiger.”

About Eiger

Eiger is a commercial-stage biopharmaceutical company focused on the development of innovative therapies for HDV and other serious rare diseases. The Eiger HDV platform includes two first-in-class therapies in Phase 3 that target critical host processes involved in viral replication. All five Eiger rare disease programs have been granted FDA Breakthrough Therapy designation.

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