Tesaro vet jumps to an Irish oncology upstart and shifts focus to the US, eyeing fundraising
Tim Pearson’s biotech break is over.
After picking up a $12 million payout late last year following the sale of Tesaro to GSK, the former Tesaro CFO’s next chapter in biotech will be written at another cancer company.
Pearson has been named CEO at Carrick Therapeutics, which picked up a $95 million round three years ago to bring in oncology drugs and grow a pipeline. Just 8 months ago the longtime dealmaker George Golumbeski joined the Dublin-based company — with operations in the UK as well — as chairman of the board. And now Golumbeski is installing Pearson as chief executive while company founder Elaine Sullivan transitions to a support role as adviser and “executive entrepreneur.”
For all practical purposes, the company will be based in Boston now as Carrick shifts to a more US-centered approach to developing cancer drugs — with Pearson now in charge of raising new funds as he builds up a new operation stateside.
Carrick in-licensed an ovarian cancer drug last fall that was renamed CT900. The therapy both targets folate receptor α (FRα) and inhibits thymidylate synthase.
“The board of directors has made the decision to expand company operations in Boston to access U.S. capital markets and the tremendous talent pool to support the expected growth of Carrick. With this transition, we will continue operations in Dublin and the UK, while adding new capabilities in Boston,” said Golumbeski in a prepared statement.