Aptevo Therapeutics Inc. (NASDAQ: APVO) announced that President and Chief Executive Officer Marvin White will retire from the CEO role and become Executive Chair effective April 1, 2026. The company confirmed that Chief Operating Officer Jeff Lamothe will be promoted to President and CEO, taking over day‑to‑day operations and the leadership of the company’s clinical and commercial programs.
White, who has served as CEO since 2016, said the transition will allow him to focus on “strategic growth opportunities” and to mentor the new CEO while maintaining continuity in governance. Lamothe, who has spent the past decade in senior finance and operations roles—including CFO at a leading biopharma and COO at a specialty‑drug company—brings a track record of scaling operations and securing capital for late‑stage development.
The leadership change comes as Aptevo advances its lead candidate, mipletamig, in the RAINIER trial for acute myeloid leukemia. The trial, which combines mipletamig with standard‑of‑care therapy, has reported high remission rates and a favorable safety profile, with no cytokine‑release syndrome observed. The company’s focus on the ADAPTIR platform and its newly secured $60 million equity line of credit provide a financial runway to support the next phase of clinical development and potential partnership or acquisition opportunities.
Lamothe’s appointment signals a strategic shift toward operational execution and capital efficiency. In a statement, he noted that “the company is poised to accelerate its clinical program and strengthen its financial position.” White added that his new role will enable him to “identify and advance strategic growth opportunities” while ensuring a smooth transition for the company’s stakeholders.
The transition also aligns with Aptevo’s broader governance strategy, which includes moving Lead Independent Director John E. Niederhuber to a non‑executive role. Together, the three executives have guided the company from its founding in 2016 through its current clinical‑stage status, and the continuity of leadership is expected to reassure investors and partners as the company navigates a critical funding and development window.
The announcement underscores Aptevo’s commitment to advancing its oncology pipeline while maintaining financial discipline. With Lamothe at the helm, the company aims to sustain momentum in the RAINIER trial, secure additional financing, and position itself for future strategic opportunities.
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