– USA, NC – Areteia Therapeutics, Inc. today announced the appointment of Ian Read as Chairman of its Board of Directors, following the launch of the Company by Knopp Biosciences and Population Health Partners and the successful completion of a $350 million Series A financing led by Bain Capital Life Sciences, with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, Maverick Capital, and Population Health Partners.
About Ian Read
Mr. Read brings to his role a distinguished 42-year track record as one of the foremost leaders, dealmakers, and value creators in the global biopharmaceutical industry. He was Chairman and CEO of Pfizer, Inc. from December 2010 until January 2019, and Executive Chairman until December 2019. During that tenure, he oversaw over 30 new drug approvals, $88 billion in acquisition and divestiture deals, and a total shareholder return of 250%—representing over $242 billion in value creation. Mr. Read oversaw a period of industry-shaping innovation regarding the structure of Pfizer and its portfolio, including novel spin-outs and acquisitions alongside dozens of major licensing agreements. Mr. Read currently serves as a partner of Population Health Partners.
Ian Read said, “I am honored to be chosen to serve as Chairman of Areteia and look forward to working with Jorge and the team. This is a compelling opportunity to address a high unmet need for severe asthmatics by bringing a new oral medicine to market to potentially treat eosinophilic asthma earlier in the treatment paradigm and offer patients and health systems an alternative to injectable biologics.”
About Areteia Therapeutics
Areteia Therapeutics, Inc. is a clinical-stage biotechnology company committed to putting asthma patients in better control of their disease and lives by developing the first potential oral drug for eosinophilic asthma. Areteia’s lead drug candidate is dexpramipexole, a first-in-class oral eosinophil maturation inhibitor. Areteia was created by Population Health Partners and Knopp Biosciences. A syndicate of leading life sciences and strategic investors led by Bain Capital Life Sciences with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, Maverick Capital, and Population Health Partners, has committed to investing up to $350 million in Series A financing to establish Areteia and advance dexpramipexole through Phase III clinical trials, secure commercial supply, and pursue potential next-generation medicines. Areteia will conduct late-stage development, including Phase III clinical trials of dexpramipexole, in partnership with Population Health Partners’ development unit, Validae Health.
For more information: https://areteiatx.com/
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