CRISPR hires William Blair analyst as new finance chief; Tiny EU biotech raises $20M+
Less than 18 months after hiring Brendan Smith as CFO, CRISPR Therapeutics is bringing in another exec to take his place.
The Swiss-American gene editing biotech put out word Monday that it is hiring Raju Prasad as the company’s newest finance chief, effective Tuesday. Prasad joins from investment bank William Blair, where he was a senior research analyst covering gene editing and gene and cell therapy.
The now-former CFO, Smith, is leaving CRISPR “to pursue external opportunities,” the biotech wrote in a statement. Smith, a Pfizer vet, joined CRISPR back in October 2021 after briefly serving as CFO at Translate Bio before Sanofi’s $3.2 billion buyout.
CRISPR CEO Samarth Kulkarni said in a statement that he’s excited to welcome Prasad, adding that the new exec’s knowledge of the space and experience with the financial markets would be “an invaluable addition to our Company.”
Prasad was writing analyst notes on CRISPR as recently as Feb. 22, discussing the company’s latest earnings updates.
Tiny neuropathy drug developer nets over $20 million via Series B
A small biotech looking to develop a treatment for chemotherapy-induced peripheral neuropathy (CIPN) now has more funds to work with.
AlgoTx announced a Series B worth €20 million, or $21.4 million, bright and early Tuesday morning to move forward in developing ATX01. The round, led by Relyens Innovation Santé / Turenne Capital alongside several other investors, also included an additional 1 million euros in non-dilutive financing.
The funds will be used to advance ATX01 in clinical development, testing the candidate’s efficacy in a Phase II study to reduce pain in patients with CIPN, per a company statement. The program currently has FDA’s fast track designation.
AlgoTx CEO and founder Stéphane Thiroloix said in a statement the company is looking forward to starting enrollment of patients “any day now.”