WALTHAM,
Mass., Feb. 5, 2024 /PRNewswire/ -- Spyre
Therapeutics, Inc. (NASDAQ: SYRE) (the "Company" or "Spyre"), a
development-stage biotechnology company advancing best-in-class
antibody engineering, rational therapeutic combinations, and
precision medicine approaches for the treatment of Inflammatory
Bowel Disease ("IBD"), today announced the appointment of
Mark C. McKenna to its Board of
Directors. Mr. McKenna's track record of corporate leadership,
product development, and value creation, particularly in IBD. The
Company looks forward to his guidance as it advances its
potentially best-in-class antibodies targeting α4β7 and TL1A into
clinical trials this year.
"Mark's extraordinary career positions him to provide Spyre with
valuable guidance as we seek to build a next-generation IBD company
and create novel medicines with meaningfully improved efficacy and
convenience compared to today's standard of care," said
Cameron Turtle, DPhil, chief
executive officer of Spyre. "We look forward to incorporating
Mark's insights as we seek to demonstrate the clinical features of
our antibodies in healthy volunteers this year and prepare to
launch studies, including both monotherapies and combination
treatments, in IBD patients next year."
Mr. McKenna is the former President, Chief Executive Officer and
Chairman of the Board of Directors of Prometheus Biosciences, Inc.,
which was acquired by Merck & Co., Inc. in June 2023 for approximately $10.8 billion. Prior to joining Prometheus, Mr.
McKenna was a corporate officer of Bausch Health and served as
President of the subsidiary Salix Pharmaceuticals, where he
revitalized Bausch's gastroenterology business with a series of
strategic acquisitions and product launches, doubling revenue to
exceed $2 billion while enhancing
operating margins. Prior to Salix, Mr. McKenna spent more than a
decade in various roles with Bausch + Lomb, also a division of
Bausch, most recently as Senior Vice President and General Manager
of its U.S. Vision Care business. Mr. McKenna was Ernst & Young
Entrepreneur of the Year in 2023 and holds a B.S. in marketing from
Arizona State University and an MBA
from Azusa Pacific University.
"Spyre had an impressive 2023, raising $390M through the capital markets with a
syndicate of top-tier biotechnology investors," said Mr. McKenna.
"They are now well positioned to advance their pipeline candidates
into the clinic, and I am thrilled to contribute my passion and
expertise to propel Spyre's vision towards groundbreaking
advancements in the treatment of IBD."
In connection with Mr. McKenna's appointment to the Company's
Board, Alison Lawton has resigned
effective February 1, 2024. We
express our heartfelt gratitude for Alison's dedicated service to
the Company.
About Spyre Therapeutics
Spyre Therapeutics is a biotechnology company that aims to
create next-generation inflammatory bowel disease (IBD) products by
combining best-in-class antibody engineering, rational therapeutic
combinations, and precision medicine approaches. Spyre's pipeline
includes extended half-life antibodies targeting α4β7, TL1A, and
IL-23. For more information, visit Spyre's website at
www.spyre.com.
Follow Spyre Therapeutics on social media: @spyretx and
LinkedIn
Forward-Looking Statements
Certain statements in this press release, other than purely
historical information, may constitute "forward-looking statements"
within the meaning of the federal securities laws, including for
purposes of the safe harbor provisions under the United States
Private Securities Litigation Reform Act of 1995, concerning Spyre
and other matters. These forward-looking statements include, but
are not limited to, express or implied statements relating to
Spyre's management team's expectations, hopes, beliefs, intentions
or strategies regarding the future including, without limitation,
Spyre's ability to achieve the expected benefits or opportunities
with respect to its pipeline of product candidates such as
potential improved dosing regimens over approved product
candidates, Spyre's preclinical and future clinical development
activities, the potential therapeutic benefits and economic value
of Spyre's product candidates, and the timing and results of
preclinical studies and clinical trials, including both
monotherapies and combination treatments. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"opportunity," "potential," "milestones," "pipeline," "can,"
"goal," "aim," "strategy," "target," "seek," "anticipate,"
"achieve," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "intends," "may," "might," "plan,"
"possible," "predict," "project," "should," "will," "would" and
similar expressions (including the negatives of these terms or
variations of them) may identify forward-looking statements, but
the absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements are based on
current expectations and beliefs concerning future developments and
their potential effects. There can be no assurance that future
developments affecting Spyre will be those that have been
anticipated. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond Spyre's control) or
other assumptions that may cause actual results or performance to
be materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited those uncertainties and factors described under
the heading "Risk Factors" and "Note about Forward-Looking
Statements" in Spyre's most recent Quarterly Report on Form 10-Q
filed with the SEC, as well as discussions of potential risks,
uncertainties, and other important factors included in other
filings by Spyre from time to time. Should one or more of these
risks or uncertainties materialize, or should any of Spyre's
assumptions prove incorrect, actual results may vary in material
respects from those projected in these forward-looking statements.
Nothing in this press release should be regarded as a
representation by any person that the forward-looking statements
set forth therein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements in
this press release, which speak only as of the date they are made
and are qualified in their entirety by reference to the cautionary
statements herein. Spyre does not undertake or accept any duty to
make any updates or revisions to any forward-looking statements.
This press release does not purport to summarize all of the
conditions, risks and other attributes of an investment in
Spyre.
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SOURCE Spyre Therapeutics, Inc.