Bil­lion­aire Bob Dug­gan gets CEO help as Sum­mit tests in­vestor in­ter­est in $100M of­fer­ing

Bob Dug­gan is get­ting help in the chief ex­ec­u­tive spot. The bil­lion­aire’s ti­tle looks a lit­tle dif­fer­ent as of Tues­day, when Sum­mit Ther­a­peu­tics COO Maky Zan­ganeh was pro­mot­ed to co-CEO and pres­i­dent.

Both sit on the board of di­rec­tors of the Cal­i­for­nia biotech, which is in the midst of rais­ing $100 mil­lion in a pub­lic of­fer­ing to boost the com­pa­ny’s cof­fers ahead of a like­ly new Phase III tri­al for a C. dif­fi­cile as­set that has been through mul­ti­ple hur­dles in re­cent mem­o­ry. Dug­gan be­came CEO in April 2020, and Zan­ganeh joined in No­vem­ber of that year. The two pre­vi­ous­ly worked to­geth­er at Dug­gan’s Phar­ma­cyclics, with the ex­ec­u­tive part­ners ar­chi­tect­ing a $21 bil­lion ex­it to Ab­b­Vie in 2015.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER