Welcome to this week's Chutes & Ladders, our roundup of significant leadership hirings, firings and retirings across the industry. Please send the good word—or the bad—from your shop to Darren Incorvaia or Gabrielle Masson and it will be featured here at the end of each week.
Vincerx acquisition leads to C-suite shake-up
Vincerx Pharma
After being acquired by clinical-stage ADC company Oqory, Vincerx ended 2024 with a workforce reduction and C-suite clear-out that will involve Ahmed Hamdy, M.D., stepping down as CEO, while remaining as chairman. Hamdy will be replaced by Chief Operations Officer Raquel Izumi, Ph.D., while Chief Financial Officer Alexander Seelenberger will also leave his role but retain a consultancy position. After the deal, which includes a minimum fully diluted equity value of $13.66 million, 95% of the business will be owned by Oqory’s current equity holders. The company will continue Vincerx’s Nasdaq listing. Story
ILiAD COO dies in hit and run
ILiAD Biotechnologies
Ken Solovay, chief operating officer of ILiAD Biotechnologies, was killed Dec. 14 after a driver struck him while he was riding his bicycle in Fort Lauderdale, Florida. The driver then fled the scene. Solovay joined ILiAD in 2012 after serving as president and general manager of Aspiration Medical Technology (later Aspire Bariatrics). The rest of ILiAD’s executive team has assumed Solovay’s duties.
“We will all deeply miss his exceptional work ethic, uncompromising standards, steady hand, good nature and commitment to the mission,” ILiAD CEO Keith Rubin, M.D., said in a release. “But most of all, we will miss him.” Release & Report
Avalo turns the page with new strategy chief
Avalo Therapeutics
Avalo Therapeutics is starting off the year with a newly created chief strategy officer position, which will be filled by Jennifer Riley. The responsibilities of the role include overseeing corporate strategy and product pipeline planning as the company advances its lead asset, AVTX-009, into a phase 2 study for hidradenitis suppurativa. Avalo previously snapped up the candidate from a $22 million buyout of AlmataBio, a bright spot after facing financial troubles back in 2022. Riley holds more than 20 years of leadership experience in the industry across companies such as Biogen and most recently Northbrook Consulting, which she founded. Through Northbrook, Riley is credited with advising more than 30 companies on development strategies, commercialization and portfolio optimization. Release
> GeneDx is expanding its C-suite, bringing Bryan Dechairo on board as its first chief operating officer as the firm enters the next phase of commercial growth. Release
> Immunocore Holdings promoted Eli Lilly vet Travis Coy to the executive team as chief financial officer and head of corporate development after previously holding the role of nonexecutive director since 2019. Release
> Agile Therapeutics’ former longtime chief financial officer Scott Coiante pivoted to the same role at Lexicon Pharmaceuticals as the company builds on its "Lead to Success" strategy. Release
> Experienced Chief Financial Officer Sri Ryali is joining the executive team at Caribou Biosciences to take on the role there as the drugmaker looks to advance four clinical-stage programs. Release
> Kristin Taylor is signing off from her position as chief financial officer at ImmunoPrecise Antibodies, leaving the company to initiate a succession process to find a replacement. Release
> Cancer-focused Karyopharm Therapeutics has tapped former Legend Biotech Chief Financial Officer Lori Macomber as executive vice president, chief financial officer and treasurer. Release