Zevra's Strategic Play: M&A Veteran Signals New Growth Chapter

CELEBRATION, Fla. – December 02, 2025 – In a move that speaks volumes beyond a standard board refreshment, Zevra Therapeutics today announced the appointment of Alicia Secor to its Board of Directors. While board transitions are routine, this particular appointment is a clear strategic signal from the commercial-stage rare disease company. By bringing in a seasoned executive with a formidable track record in both operational leadership and high-value M&A exits, Zevra is telegraphing a sharpened focus on aggressive growth and shareholder value creation.

The appointment coincides with the retirement of Dr. Wendy Dixon, a respected industry veteran. In the official announcement, Zevra's leadership framed the transition in terms of strategic continuity and enhancement. "We are pleased to welcome Alicia to our Board at this important juncture, as her expertise will support our continued execution of strategy and our commitment to delivering durable, sustained value for shareholders," stated Tamara A. Favorito, Zevra’s Chair of the Board. CEO Neil F. McFarlane added, “Alicia brings a depth of experience that complements our team, including significant leadership in rare disease.” But for keen market observers, the story lies in the specific "depth of experience" Secor brings to the table.

The Secor Playbook: A History of Growth and Strategic Exits

To understand the potential impact of this appointment, one must look closely at Alicia Secor’s career. Her resume reads like a playbook for building and monetizing biopharmaceutical value. Most recently, she was President and CEO of Atalanta Therapeutics, a company pioneering RNAi treatments for neurodegenerative diseases. Before that, she orchestrated a successful turnaround as President and CEO of Juniper Pharmaceuticals, culminating in its strategic acquisition by Catalent in 2018.

However, it is her extensive board experience that provides the most compelling narrative for investors. Secor has a recurring pattern of joining the boards of promising public companies that are subsequently acquired in high-profile deals. She served on the board of GW Pharmaceuticals prior to its acquisition by Jazz Pharmaceuticals; she was a director at G1 Therapeutics before it was bought by Pharmacosmos A/S; and she sat on the board of Orchard Therapeutics until its acquisition earlier this year. This is not a coincidence; it is a hallmark of an executive adept at navigating the complex landscape of corporate development and maximizing value at critical inflection points. Her fifteen-year tenure at Genzyme, where she rose to Vice President and General Manager of Metabolic Diseases, also immersed her in the world of orphan drugs, giving her firsthand experience in the commercialization challenges and opportunities unique to the rare disease market.

A Company at a Commercial Crossroads

Secor’s arrival is perfectly timed with Zevra's own evolution. The company has decisively pivoted from a development-stage entity to a commercial-stage organization. The 2023 acquisition of Acer Therapeutics was a transformative event, bringing in two key commercial products: OLPRUVA® for urea cycle disorders and the late-stage asset celiprolol for Vascular Ehlers-Danlos Syndrome (VEDS). This is in addition to its recently approved therapy, MIPLYFFA®, for Niemann-Pick Disease Type C (NPC).

Zevra has been making calculated moves to fortify its position. The company recently monetized a Rare Pediatric Disease Priority Review Voucher (PRV) for approximately $150 million, injecting significant non-dilutive capital into its balance sheet. This cash infusion provides the fuel for its stated strategic pillars, which include "commercial excellence" and "pipeline and innovation." The company is now squarely focused on executing successful launches for MIPLYFFA® and OLPRUVA®, while advancing its promising Phase 3 candidate, celiprolol, which holds both Orphan Drug and Breakthrough Therapy designations from the FDA. By simultaneously discontinuing its in-house discovery labs to outsource early-stage R&D, Zevra has streamlined its focus onto late-stage development and commercial execution—precisely the areas where Secor has built her reputation.

Building a Board for the Modern Biotech Landscape

This appointment also reflects a broader, critical trend in the biopharmaceutical industry. The era of generalized corporate governance on biotech boards is fading. Today, companies in highly specialized fields like rare disease require directors with deep, functional domain expertise. Navigating the intricate pathways of rare disease drug development, regulatory approval, and targeted commercialization demands more than just general business acumen; it requires lived experience.

Dr. Wendy Dixon, the retiring director, brought decades of invaluable big pharma experience in global marketing and product launches from her time at Bristol Myers Squibb and Merck. Her guidance was instrumental as Zevra prepared to enter the commercial arena. Secor's appointment represents the next logical step in this strategic evolution. Her expertise is not in launching blockbuster drugs for large populations, but in the nuanced, high-touch world of orphan and rare disease products. Her background directly aligns with Zevra's current portfolio and its mission to serve small, underserved patient communities. This shift from broad commercial experience to specialized rare disease and M&A expertise underscores a deliberate refinement of the board's skillset to match the company's immediate and long-term objectives.

Reading the Signals: A Declaration of Intent

With a fortified balance sheet, newly launched commercial products, and a promising late-stage asset, Zevra is at a pivotal juncture. The addition of Alicia Secor to its board is the clearest signal yet of the company’s ambitions. The question now is not if Zevra will pursue a major strategic transaction, but what form it will take.

Secor’s presence provides Zevra with elite-level expertise for multiple strategic pathways. Her operational and commercialization skills will be vital in driving organic growth and proving the market potential of Zevra’s portfolio. This, in itself, makes the company a more attractive asset. On the other hand, her extensive M&A background equips the board with the necessary foresight and experience to either pursue its own acquisitions or to navigate a potential sale of the company to a larger player seeking to enter the rare disease space. This appointment is a strategic hedge that prepares Zevra for any eventuality, ensuring that any path taken is optimized for shareholder value. For investors and competitors alike, this board change should be seen as a declaration of intent: Zevra Therapeutics is actively positioning itself for its next major act in the high-stakes world of rare disease.