Ava­lo Ther­a­peu­tics shuf­fles lead­er­ship team as the flail­ing biotech search­es for a port in the storm

A bad­ly stum­bling pub­lic mar­ket for biotech has laid waste to small com­pa­nies in the first weeks of 2022, and now an­oth­er vic­tim is shuf­fling the deck.

Ava­lo Ther­a­peu­tics CEO Mike Co­la and CFO Schond Green­way are step­ping away from the im­munol­o­gy- and rare dis­ease-fo­cused biotech in fa­vor of new hires as the biotech weath­ers a par­tic­u­lar­ly bad stretch for its share price, ac­cord­ing to a re­lease.

Co­la and Green­way are leav­ing to “pur­sue oth­er in­ter­ests,” Ava­lo said in a re­lease, and will be re­placed by Gar­ry Neil, the com­pa­ny’s cur­rent CSO and a J&J vet­er­an, and Chris Sul­li­van, the com­pa­ny’s cur­rent chief ac­count­ing of­fi­cer, re­spec­tive­ly.

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