Disc Medicine Strengthens Leadership Team with Appointment of Seasoned Industry Executive Jean Franchi as Chief Financial Officer, and Promotion of Jonathan Yu to Chief Operating Officer
February 07 2024 - 8:00AM
Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage
biopharmaceutical company focused on the discovery, development,
and commercialization of novel treatments for patients suffering
from serious hematologic diseases, today announced the appointment
of Jean Franchi as the company’s Chief Financial Officer. Ms.
Franchi will be responsible for finance, investor relations, and
other functions and will lead the company’s capital formation and
financial strategy. She succeeds Joanne Bryce, who will transition
to a consulting role with the company.
“We are excited to welcome an executive of Jean’s caliber and
depth of experience to the Disc team, and I’m delighted to announce
the promotion of a key executive, Jonathan Yu, to Chief Operating
Officer,” said John Quisel, J.D., Ph.D., President and Chief
Executive Officer of Disc. “We have multiple, important data
read-outs for all three programs in 2024, and as we enter
late-stage development and begin planning for commercialization,
Jean’s experience with successfully scaling organizations,
including those focused on rare diseases, will be directly
relevant. On behalf of myself and the entire Disc team, I would
also like to express my gratitude to Joanne for her leadership and
years of service and wish her all the best on her next
endeavor.”
“I am thrilled to be joining Disc at such an exciting moment in
its evolution. The team has built a unique company with a strong
foundation and pipeline with enormous potential,” said Ms. Franchi.
“I look forward to working together with the talented and
passionate people at Disc to build a sustainable, leading
hematology business.”
Ms. Franchi is an experienced CFO with over 30 years of finance
leadership expertise at both public and private biotechnology
companies of varying sizes across all stages of development. Most
recently, she was the Chief Financial Officer of Replimune where
she helped raise over $750 million across multiple financings and
non-dilutive debt, supporting significant expansion while providing
optionality in future capital formation for Replimune’s portfolio.
Prior to Replimune, Ms. Franchi served as Chief Financial Officer
for Merrimack Pharmaceuticals, Dimension Therapeutics, which was
acquired by Ultragenyx, and Good Start Genetics. Ms. Franchi spent
16 years at Genzyme advancing within the organization during its
most rapid phase of growth. Ms. Franchi spent eight years at
Genzyme as the Senior Vice President of Finance for all nine
business units and then Senior Vice President of Corporate Finance
working alongside the Chief Financial Officer and playing an
important role in the approximately $20.1 billion sale to Sanofi.
Ms. Franchi holds a Bachelor's degree in Business Administration
from Hofstra University.
In connection with Ms. Franchi’s appointment, Disc granted to
Ms. Franchi an inducement equity award outside of Disc’s Amended
and Restated 2021 Stock Option and Incentive Plan in accordance
with NASDAQ Listing Rule 5635(c)(4), comprised of (i) an option to
purchase 55,000 shares (the “Option Award”) of Disc common stock
(“Common Stock”), at an exercise price equal to the closing price
of the Common Stock on the date of grant, and (ii) a restricted
stock unit award for 36,666 shares of Common Stock (the “RSU Award”
and, together with the Option Award, the “Inducement Award”). The
Option Award shall vest 25% on the first anniversary of Ms.
Franchi’s start date, with the remainder vesting in 36 equal
monthly installments thereafter. The RSU award shall vest in equal
installments on each of the first, second, third, and fourth
anniversaries of the vesting date set by Disc’s company vesting
policy. The Inducement Award was approved by Disc’s Board of
Directors (the “Board”), including a majority of the independent
directors serving on the Board.
About Disc Medicine
Disc Medicine (NASDAQ:IRON) is a clinical-stage
biopharmaceutical company committed to discovering, developing, and
commercializing novel treatments for patients who suffer from
serious hematologic diseases. We are building a portfolio of
innovative, potentially first-in-class therapeutic candidates that
aim to address a wide spectrum of hematologic diseases by targeting
fundamental biological pathways of red blood cell biology,
specifically heme biosynthesis and iron homeostasis. For more
information, please visit www.discmedicine.com.
Disc Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, express or implied statements
regarding Disc’s expectations with respect to the chief financial
officer position, Disc’s data read-outs and Disc’s development and
commercialization. The use of words such as, but not limited to,
“believe,” “expect,” “estimate,” “project,” “intend,” “future,”
“potential,” “continue,” “may,” “might,” “plan,” “will,” “should,”
“seek,” “anticipate,” or “could” or the negative of these terms and
other similar words or expressions that are intended to identify
forward-looking statements. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are based on Disc’s current beliefs, expectations and
assumptions regarding the future of Disc’s business, future plans
and strategies, clinical results and other future conditions. New
risks and uncertainties may emerge from time to time, and it is not
possible to predict all risks and uncertainties. No representations
or warranties (expressed or implied) are made about the accuracy of
any such forward-looking statements.
Disc may not actually achieve the plans, intentions or
expectations disclosed in these forward-looking statements, and
investors should not place undue reliance on these forward-looking
statements. Actual results or events could differ materially from
the plans, intentions and expectations disclosed in the
forward-looking statements as a result of a number of material
risks and uncertainties including but not limited to: Disc’s
expectations regarding the chief financial officer and chief
operating officer positions; Disc’s expectations regarding
leadership, future growth and innovation; Disc’s expectations
regarding its data read-outs for its research and development
programs in 2024; Disc’s expectations of entering late-stage
development and planning for commercialization; and the other risks
and uncertainties described in the “Risk Factors” section of our
Annual Report on Form 10-K for the year ended December 31, 2022,
Quarterly Reports on Form 10-Q for the quarters ended March 31,
2023, June 30, 2023, and September 30, 2023 and other documents
filed by Disc from time to time with the Securities and Exchange
Commission (SEC), as well as discussions of potential risks,
uncertainties, and other important factors in Disc’s subsequent
filings with the SEC. Any forward-looking statement speaks only as
of the date on which it was made. None of Disc, nor its affiliates,
advisors or representatives, undertake any obligation to publicly
update or revise any forward-looking statement, whether as result
of new information, future events or otherwise, except as required
by law.
Media Contact
Peg RusconiVerge Scientific
Communicationsprusconi@vergescientific.com
Investor Relations Contact
Christina TartagliaStern Investor
Relationschristina.tartaglia@sternir.com
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