Frontier Medicines Appoints Gerardo Ubaghs as Chief Financial Officer and Announces $20 Million Series C Extension
June 25 2024 - 7:00AM
Frontier Medicines Corporation (“Frontier” or the “Company”), a
clinical-stage precision medicine company seeking to unlock the
proteome to advance transformational therapies against otherwise
undruggable disease-causing targets, today announced the
appointment of Gerardo Ubaghs as Chief Financial Officer (CFO) and
the additional close of $20 million extension to its Series C,
bringing the total amount raised to $100 million, with the
financing slated to accelerate multiple pipeline programs.
“We are delighted to welcome Gerardo, an accomplished biopharma
investment banking veteran, with an impressive track record of
building long-term value creation for top tier biotech and
pharmaceutical companies,” said Chris Varma, Ph.D., chairman, CEO,
and co-founder of Frontier Medicines. “Gerardo is joining us
following the extension of our Series C and at an overall exciting
time for the company. I am confident that the wealth of experience
that Gerardo brings in strategic long-term value creation and IPO
and capital markets advisory for top-tier biotech and
pharmaceutical companies will play a key role as Frontier advances
its precision medicine programs, with the goal of filing one IND
per year.”
Mr. Ubaghs brings 12 years of investment banking experience
where he advised management teams and boards of biotech and
pharmaceutical companies on capital raising and strategic needs. He
has helped execute over $100 billion M&A and over $12 billion
in equity and equity-related transactions. Prior to joining
Frontier, he was a Managing Director in the Global Healthcare group
of Bank of America, specializing in biopharma and
computationally-enabled drug discovery. Prior to his investment
banking career, Mr. Ubaghs was an accomplished violinist, with solo
and chamber music performances across North America, Europe, Asia
and South Africa. Mr. Ubaghs holds an M.B.A. from the Kelley School
of Business of Indiana University and a bachelor’s in business
administration from the University of Valencia in Spain.
“As a strong believer in the integration of technology and
biology, I am thrilled to join Frontier, with its ability to
generate precision medicines powered by its computationally enabled
chemoproteomics platform. Frontier’s ability to unlock hard-to-drug
targets presents a significant opportunity to address a wide range
of oncology and immunology targets that have been in dire need of
innovation,” commented Gerardo Ubaghs, CFO of Frontier Medicines.
“I look forward to working with Frontier’s outstanding team to
further build on the strong momentum of recent years and contribute
to Frontier realizing its full potential to advance and potentially
transform patient care.”
The Company also announced the additional close of $20 million
of its Series C financing, with participation from investors
including Deep Track Capital and ArrowMark Partners, bringing the
total raised to $100 million in this round.
The financing proceeds will support further advancement of
Frontier’s FMC-376, a small molecule with a differentiated dual
direct mechanism of action targeting both ON + OFF KRASG12C that is
currently in the Phase 1/2 PROSPER trial (NCT06244771), and other
preclinical/pipeline programs against high-value precision medicine
targets.
About Frontier Medicines
Frontier Medicines is a clinical stage precision medicine
company pioneering groundbreaking medicines to transform treatment
for genetically-defined patient populations, starting with oncology
and immunology. Our proprietary chemoproteomics powered drug
discovery engine, the Frontier™ Platform, leverages covalent
chemistry and machine learning to unlock hard-to-treat disease
causing proteins for drug development. Today, we are advancing a
diversified pipeline of wholly-owned precision medicines against
the most important drivers of cancer and high-value immunology
programs. Our lead candidate, FMC-376, is a dual inhibitor of
ON+OFF KRASG12C. FMC-376 is a potential best-in-class therapy
designed to completely block both forms of the KRAS mutation to
overcome the lack of response and resistance seen with
single-acting KRASG12C inhibitors. For more information, please
visit www.frontiermeds.com. Follow Frontier on LinkedIn.
Frontier Medicines Contact:Victoria FortSVP,
Strategy and Corporate
AffairsVictoria.Fort@frontiermeds.com202.361.0445