- Life sciences veteran Mitchell
Chan joins the company ahead of multiple catalysts across
late-stage gene therapy programs
- Vit Vasista steps down following more than 15 years at the
Company
ROCKVILLE, Md., Sept. 17,
2024 /PRNewswire/ -- REGENXBIO Inc. (Nasdaq: RGNX)
today announced that Mitchell Chan
has been appointed as Executive Vice President and Chief Financial
Officer, effective today. A veteran finance executive and operating
partner in the biotechnology industry, Mr. Chan has held key roles
in raising capital, business development transactions and
operations for nearly 20 years.
"We are excited to welcome Mitchell at this exciting time for
REGENXBIO," said Curran Simpson,
President and Chief Executive Officer of REGENXBIO. "Mitchell has
an extensive track record of successfully driving finance
organizations to support growth and deep expertise in strategic
planning and capital markets. We look forward to working with Mitch
as we continue to advance our product pipeline towards
commercialization and deliver value to shareholders."
Mr. Chan brings nearly two decades of biopharmaceutical
financial leadership experience to REGENXBIO. Most recently, he
served as Operating Partner at Catalio Capital Management, an
investment firm focused on innovative biotechnology companies,
where he served as acting CFO of several portfolio companies and
advised on the firm's investments. From 2018 to 2021, Mr. Chan was
CFO of Viela Bio, Inc., where he
oversaw a successful IPO and $3B
acquisition by Horizon Therapeutics. Prior to Viela, Mr. Chan held
various financial and investor relations leadership roles at
AstraZeneca and Genentech-Roche, among other companies. He has
served on the Board of Directors of Avalo Therapeutics since 2021.
Mr. Chan holds an M.S. in Medical Biophysics, an M.B.A, and a B.S.
in Biochemistry from the University of
Toronto.
"With several key catalysts on the horizon, I am excited to join
REGENXBIO at this important juncture," said Mr. Chan. "I look
forward to leveraging my financial and industry experience to
support the Company's transition to commercialization and continue
the development of next-generation gene therapies for debilitating
diseases that lack sustainable or effective treatment options for
patients in need."
Mr. Chan succeeds Vit Vasista, who served as Executive Vice
President and Chief Financial Officer since 2009. Mr. Vasista will
serve as an advisor to the Company through January 3, 2025, to support a smooth
transition.
"On behalf of the Board of Directors, our leadership and the
entire REGENXBIO team, I thank Vit for his dedication and
significant contributions to REGENXBIO," Mr. Simpson continued.
"Vit was one of the first team members at REGENXBIO and was
instrumental in taking the Company public and ensuring the Company
is positioned with a strong balance sheet and cash runway to
support the next stage of our journey. We wish him the very best in
his next chapter."
ABOUT REGENXBIO Inc.
REGENXBIO is a leading
clinical-stage biotechnology company seeking to improve lives
through the curative potential of gene therapy. Since its founding
in 2009, REGENXBIO has pioneered the development of AAV
Therapeutics, an innovative class of gene therapy medicines.
REGENXBIO is advancing a pipeline of AAV Therapeutics for retinal
and rare diseases, including ABBV-RGX-314 for the treatment of wet
AMD and diabetic retinopathy, being developed in collaboration with
AbbVie, RGX-202 for the treatment of Duchenne and RGX-121 for the
treatment of MPS II. Thousands of patients have been treated with
REGENXBIO's AAV Therapeutic platform, including Novartis'
Zolgensma® for children with spinal muscular atrophy.
Designed to be one-time treatments, AAV Therapeutics have the
potential to change the way healthcare is delivered for millions of
people. For more information, please visit WWW.REGENXBIO.COM.
FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements," within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements express a belief, expectation or
intention and are generally accompanied by words that convey
projected future events or outcomes such as "believe," "may,"
"will," "estimate," "continue," "anticipate," "assume," "design,"
"intend," "expect," "could," "plan," "potential," "predict,"
"seek," "should," "would" or by variations of such words or by
similar expressions. The forward-looking statements include
statements relating to, among other things, REGENXBIO's
expectations and evaluations of its leadership and management team
and future operations. REGENXBIO has based these forward-looking
statements on its current expectations and assumptions and analyses
made by REGENXBIO in light of its experience and its perception of
historical trends, current conditions and expected future
developments, as well as other factors REGENXBIO believes are
appropriate under the circumstances. However, whether actual
results and developments will conform with REGENXBIO's expectations
and predictions is subject to a number of risks and uncertainties,
many of which are beyond the control of REGENXBIO. Refer to the
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of
REGENXBIO's Annual Report on Form 10-K for the year ended
December 31, 2023, and comparable
"risk factors" sections of REGENXBIO's Quarterly Reports on Form
10-Q and other filings, which have been filed with the U.S.
Securities and Exchange Commission (SEC) and are available on the
SEC's website at WWW.SEC.GOV. All of the forward-looking statements
made in this press release are expressly qualified by the
cautionary statements contained or referred to herein. The actual
results or developments anticipated may not be realized or, even if
substantially realized, they may not have the expected consequences
to or effects on REGENXBIO or its businesses or operations. Such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Readers are cautioned not to
rely too heavily on the forward-looking statements contained in
this press release. These forward-looking statements speak only as
of the date of this press release. Except as required by law,
REGENXBIO does not undertake any obligation, and specifically
declines any obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
Zolgensma® is a registered trademark of Novartis Gene
Therapies. All other trademarks referenced herein are registered
trademarks of REGENXBIO.
CONTACTS:
Dana Cormack
Corporate Communications
DCORMACK@REGENXBIO.COM
George E. MacDougall
Investor Relations
IR@REGENXBIO.COM
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SOURCE REGENXBIO Inc.