Design Therapeutics Expands Board of Directors with Key Appointments
June 07 2021 - 4:05PM
Design Therapeutics, Inc. (Nasdaq: DSGN), a biotechnology company
developing treatments for degenerative genetic disorders, today
announced the appointments of industry veterans, Heather Behanna,
Ph.D., principal of SR One, and Deepa Prasad, managing director of
WestRiver Group, to its board of directors effective June 15, 2021.
“We are delighted to further strengthen the Design team with the
appointments of both Heather and Deepa to our board of directors,
who bring a wealth of experience and insights in corporate and
financial strategy and biotechnology company growth,” said João
Siffert, M.D., president and chief executive officer of Design
Therapeutics. “Over the course of 2021, we have continued to
progress our pipeline of novel GeneTAC™ therapeutic candidates, and
their expertise will be invaluable as we look to make the important
transition to a clinical-stage company with the anticipated
initiation of clinical development for our Friedreich ataxia
program in the first half of next year.”
Dr. Behanna currently serves as a principal at SR One Capital
Management, concentrating on early-stage innovative therapeutic
opportunities. Dr. Behanna is currently a board member of Second
Genome and Entasis Therapeutics (ETTX) and a board observer of Dren
Bio. Prior to SR One, she was with Sofinnova Investments, and prior
to that, was an equity research analyst at Wedbush and JMP
Securities, focused primarily on therapies for rare disease. Dr.
Behanna was formerly a chemist at the Astellas Research institute
and adjunct faculty at the Feinberg Northwestern School of
Medicine. Dr. Behanna received her Ph.D. in chemistry at
Northwestern University, MSc. in organic chemistry at the Weizmann
Institute of Science and B.S. from Tufts University.
“Friedreich ataxia is devastating, with no cure or approved
disease-modifying treatment option today. I am highly encouraged by
the opportunity enabled by Design’s approach to address the
underlying cause of this disease,” said Dr. Behanna. “I look
forward to working alongside the entire team to help guide the
business strategy and development plans, so that we may potentially
deliver the first treatment to increase endogenous frataxin for
patients with Friedreich ataxia.”
Ms. Prasad currently serves as a managing director at WestRiver
Group (WRG), where she leverages her more than 20 years of
investing and operating experience to focus on investments in
healthcare innovation across biotech and digital health and
artificial intelligence. Prior to WRG, Ms. Prasad served as chief
of staff at Blue Shield, regional vice president and general
manager for Optum, head of managed care at the California Hospital
Association, and Coherus Biosciences (CHRS) where she led financial
strategy and business development. She began her career in
investment banking working with biotech and pharma companies on
private placements and buyside and sellside mergers and
acquisitions. She currently serves on the Grant Funding Committee
for UC Davis and as a charter member for TiE, a non-profit global
network of entrepreneurs and venture capitalists. Ms. Prasad earned
her bachelor’s degree in business administration at the University
of California, Berkeley and her M.B.A. from the Kellogg School of
Management at Northwestern University with emphasis in finance and
health industry management.
“Design’s proprietary GeneTAC platform has a unique opportunity
to address the root cause of genetic diseases driven by inherited
nucleotide repeat expansions and make a significant impact on the
lives of those affected,” said Ms. Prasad. “The team has made
remarkable progress since its founding in 2017, and I am pleased to
partner with the Design team and board of directors, so that we may
bring forward a new class of small molecule therapeutics that
provide a potentially disease-modifying therapy for these
patients.”
About Design TherapeuticsDesign Therapeutics is
a biotechnology company developing a new class of therapies based
on a platform of gene targeted chimera (GeneTAC™) small molecules.
Our GeneTAC molecules are designed to either turn on or turn off a
specific disease-causing gene to address the underlying cause of
disease. The company’s lead program is focused on the treatment of
Friedreich ataxia, followed by a program in myotonic dystrophy
type-1 and discovery efforts for multiple other serious
degenerative disorders caused by nucleotide repeat expansions. For
more information, please visit designtx.com.
Forward Looking StatementsStatements in this
press release that are not purely historical in nature are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements related to: the progress and
expected timing of Design’s development programs and any clinical
trials; the effectiveness of Design’s GeneTAC program in the
treatment of Friedreich ataxia and myotonic dystrophy type-1; and
the potential advantages of these GeneTAC programs. Because such
statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Words such as "believes,"
"anticipates," "plans," "expects," "intends," "will," "goal,"
"potential" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
based upon Design’s current expectations and involve assumptions
that may never materialize or may prove to be incorrect. Actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of
various risks and uncertainties, which include, without limitation,
risks associated with the process of discovering, developing and
commercializing therapies that are safe and effective for use as
human therapeutics and operating as a development stage company;
Design’s ability to develop, initiate or complete preclinical
studies and clinical trials for, obtain approvals for and
commercialize any of its product candidates; the risk that early
research or clinical trials do not demonstrate safety and/or
efficacy in later preclinical studies or clinical trials;
uncertainties associated with performing clinical trials,
regulatory filings and applications; changes in Design’s plans to
develop and commercialize its product candidates; Design’s ability
to raise any additional funding it will need to continue to pursue
its business and product development plans; regulatory developments
in the United States and foreign countries; Design’s reliance on
key third parties, including contract manufacturers and contract
research organizations; Design’s ability to obtain and maintain
intellectual property protection for its product candidates; the
loss of key scientific or management personnel; competition in the
industry in which Design operates; and general market conditions.
For a more detailed discussion of these and other factors, please
refer to Design’s filings with the Securities and Exchange
Commission. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
All forward-looking statements are qualified in their entirety by
this cautionary statement and Design undertakes no obligation to
revise or update this press release to reflect events or
circumstances after the date hereof, except as required by law.
Contact: Alicia DavisTHRUST Strategic
Communications(910) 620-3302alicia@thrustsc.com
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