This audio is automatically generated. feedback.
RegenBio CEO and founder Kenneth Mills will step down from his role next month after 15 years as a leader in gene therapy development.
He will be succeeded by Callan Simpson, currently Regenxbio’s chief operating officer, who will become chairman of the biotechnology company’s board of directors, effective July 1. Simpson joined Regenxbio in 2015 and was appointed chief operating officer in January 2023.
“As we advance through key stage clinical trials, approach commercialization and prepare for our next steps, now is the right time to transition leadership,” Mills said in a statement Wednesday. “Curran and I have worked closely together over the past nine years, and I am confident he will bring research and development, operational and industry expertise to further build on our momentum.”
Alongside the CEO news, Regenxbio confirmed its previous predictions. The company’s cash and marketable securities are sufficient to fund operations through 2026. Submit your first regulatory request The company plans to submit an application to the U.S. Food and Drug Administration later this year for a gene therapy drug to treat the neurodegenerative disease Hunter syndrome.
The management changes came as something of a surprise, according to Stifel analyst Annabel Samimi, but she still sees little reason for concern.
“While there is no ideal time for a transition, we believe the new management team is committed to a portfolio of advanced and differentiated assets and expect the progress made to date to continue,” she wrote in a client note on Wednesday.
Regenxbio is in the process of submitting the first regulatory application for one of its therapies, but the company is better known for providing viral vectors used by other drug companies, most notably Novartis’ Zolgensma, approved in the U.S. five years ago to treat spinal muscular atrophy. Regenxbio vectors.
RegenexBio has variously licensed its viral vector technology to Astellas Pharma, Eli Lilly, Ultragenyx, Takeda, UniQure, Rocket Pharma, and Pfizer. The company is also collaborating with AbbVie on a gene therapy for eye diseases, with the two companies expecting to file for regulatory approval in 2026.
