– USA, PA – Renovacor, Inc., an early‑stage biotechnology company developing adeno-associated virus (AAV)‑based gene therapies for devastating cardiovascular and central nervous system diseases resulting from BAG3 gene variants, today announced the appointments of Dr. Joan Lau, Ph.D., and Gregory Covino to its Board of Directors, effective upon the closing of the merger between Renovacor and Chardan Healthcare Acquisition 2 Corp. (NYSE: CHAQ), expected to occur in the third quarter of 2021.
“Joan and Greg are accomplished industry leaders with proven track records and we are thrilled to welcome them to our Board,” said CEO, Dr. Magdalene Cook. “Joan’s extensive leadership experience in gene therapy and the broader biotech space, together with Greg’s wealth of expertise in finance, accounting and capital markets, will be invaluable as we begin operating as a publicly traded company. We look forward to benefiting from their strategic guidance as we work to advance REN-001 towards the clinic and execute on our corporate objectives.”
Mr. Covino will also serve as the Chair of the Audit Committee.
About Dr. Joan Lau
Dr. Joan Lau brings over 20 years of biopharma leadership, drug development, and venture to invest and transaction experience to Renovacor’s Board. She is currently CEO of Spirovant Sciences, a gene therapy company focused on changing the course of cystic fibrosis and other respiratory diseases. Dr. Lau co-founded Spirovant, and under Dr. Lau’s leadership, Spirovant gained the prestigious scientific support of the Cystic Fibrosis Foundation, received the Philadelphia Alliance for Capital and Technologies’ Healthcare startup of the year award, and was acquired twice, first by Roivant Sciences, and most recently as part of a $3 billion transaction with Sumitomo Dainippon Pharma, which organized Spirovant as a wholly-owned subsidiary of Sumitovant Biopharma Ltd. Before co-founding Spirovant, Dr. Lau co-founded and served as managing partner of Militia Hill Ventures. Additionally, she led several other companies, serving as CEO of Azelon Pharmaceuticals, president and CEO of Locus Pharmaceuticals, chief operating officer of Immunome, and in various leadership roles at Merck, including in R&D drug development and business development functions. Dr. Lau’s work in the biopharma industry has earned her several honors, including being recognized as a winner of the 2020 Ernst & Young Entrepreneur of the Year Award in Greater Philadelphia and as a 2020 Woman of Distinction by the Philadelphia Business Journal.
Dr. Lau commented, “It is an honor to be joining Renovacor’s Board. The company has impressive preclinical datasets and a sound development strategy, as it is utilizing a validated capsid to address a monogenic disease with a known origin. I look forward to working with my fellow directors and Renovacor’s world-class scientific advisors to provide valuable insights and counsel to the company’s management team.”
Dr. Lau has a Ph.D. in neuroscience from the University of Cincinnati College of Medicine, an MBA from the Wharton School of Business at the University of Pennsylvania, and a BSE in Bioengineering from the University of Pennsylvania.
About
Mr. Covino is a deeply experienced financial executive with extensive leadership, operations, process, and accounting expertise. He is currently an executive advisor at Novavax, Inc., where he also served as CFO and led the completion of a $500 million at-the-market capital raise. Before joining Novavax, Mr. Covino worked as senior vice president and chief accounting officer of TESARO, Inc. through the company’s $5.1 billion acquisition by GlaxoSmithKline. Following this acquisition, GSK retained Mr. Covino as group CFO of its newly formed TESARO Oncology Division. Mr. Covino also previously worked for over 6 years as the chief accounting officer of Biogen Inc., where he was responsible for accounting, business analysis, internal control, and financial reporting functions. During his time at Biogen, Mr. Covino helped lead the finance function through a period of rapid growth following the commercial success of the company’s new products and extensive alliances. Previous to Biogen, Mr. Covino held positions as chief internal audit executive, and vice president, international finance for Boston Scientific. Additionally, Mr. Covino spent 10 years at the international accounting and consulting firm PricewaterhouseCoopers, where he gained extensive experience related to accounting, financial reporting, finance operations, internal controls, M&A, and corporate taxation.
Mr. Covino added, “The opportunity to join Renovacor’s board is truly exciting. The company is working to address a pressing unmet need with a unique therapeutic approach. It is also poised to enter the public market with a strong financial foundation and the backing of a premier group of institutional investors, which leaves it well-positioned for sustained success.”
Mr. Covino earned his bachelor’s degree in business administration from Bryant University, where he has also served as an adjunct professor.
About Renovacor
Renovacor is a preclinical stage gene therapy company developing a pipeline of innovative and proprietary AAV-based gene therapies for BAG3 gene mutation-associated diseases in areas of high unmet medical need. Renovacor’s therapeutic focus is initially on cardiovascular disease, with a lead program in BAG3 mutation-associated dilated cardiomyopathy.
For more information: https://renovacor.com/
Renovacor previously announced that it had entered into a merger agreement with Chardan Healthcare Acquisition 2 Corp. (NYSE: CHAQ), a special purposes acquisition company. Completion of the proposed merger is subject to approval by the shareholders of CHAQ and certain other conditions. The merger is expected to close in the third quarter of 2021.
About Chardan Healthcare Acquisition Corp.
CHAQ is a special purpose acquisition company formed to effect a merger, acquisition, or similar business combination. CHAQ raised approximately $86.0 million in April 2020 to combine with a public or privately-held operating business. CHAQ was founded and sponsored by affiliates of Chardan Capital Markets LLC. CHAQ is Chardan’s sixth publicly traded acquisition vehicle.
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