Lucy Therapeutics Appoints Kim Drapkin as Board Chair

Rhea-AI Summary

Lucy Therapeutics (LucyTx) has appointed Kim Drapkin as Board Chair to guide the company's strategic direction as it enters clinical trial development. Drapkin brings over 25 years of experience in biotech and pharma, most recently serving as President and CEO of Graphite Bio. LucyTx, which develops small molecule therapies for complex neurological diseases, recently secured $12.5 million in additional funding, bringing its total to $37 million.

The company's approach involves analyzing various disease drivers, including mitochondrial, environmental, and genetic factors, to create detailed knowledge maps and identify unique drug targets. LucyTx currently has three drug discovery programs in its pipeline, with Investigational New Drug (IND) studies planned for next year, focusing on treatments for Rett syndrome, Parkinson's, and Alzheimer's disease.

Positive

• Appointment of experienced biotech executive Kim Drapkin as Board Chair
• Secured $12.5 million in additional funding, bringing total to $37 million
• Three drug discovery programs in pipeline with IND studies planned for next year
• Novel approach to drug development targeting complex neurological diseases

Negative

• None.

Drapkin brings decades of biotech and pharma experience as the company prepares for clinical trial development.

WALTHAM, Mass.--(BUSINESS WIRE)-- Lucy Therapeutics, Inc. (LucyTx), a biotech company developing proprietary small molecule therapies for complex neurological diseases including Rett syndrome, Parkinson’s and Alzheimer’s, today announced the appointment of Kim Drapkin as Board Chair. She will help guide the strategic direction of LucyTx as the company enters its next phase of growth: clinical trial development.

“It’s an honor to lead LucyTx’s Board. The company’s non-traditional approach to developing treatments for complex diseases is already paying off, and I’m eager to contribute to both their clinical and strategic success as they grow,” said Ms. Drapkin. “In just three years, the LucyTx team took two programs from idea to in vivo proof-of-concept in key animal models. Now the company is ready for clinical trials of an entirely new class of potentially curative treatments for people suffering from Rett syndrome, Parkinson’s and Alzheimer’s disease.”

Ms. Drapkin brings more than 25 years of experience with private and publicly traded biotechnology and pharmaceutical companies. She most recently served as President and CEO of Graphite Bio, which she successfully merged with LENZ Therapeutics (Nasdaq: LENZ).

“As we advance our development candidates for Rett syndrome and Parkinson’s treatments, I’m thrilled to welcome Kim and the invaluable experience she offers,” said Dr. Amy Ripka, founder and CEO of LucyTx. “She brings decades of financial acumen, operational and strategic knowledge, and industry relationships to LucyTx. Kim will bring even greater breadth and depth to our Board as we enter this exciting new stage of growth.”

In May, LucyTx secured $12.5 million in additional funding, bringing its total funding to date to $37 million. The company develops novel therapies based on small-molecule treatments and diagnostic biomarkers of key nexus points of disease. Instead of focusing solely on genetic links, the company analyzes a wide range of drivers central to disease progression, including mitochondrial, environmental and genetic factors. By simultaneously analyzing these factors, LucyTx’s platform creates a detailed knowledge map for the disease in question, allowing identification of common underlying biological pathways that can be addressed by unique drug targets. The company currently has three drug discovery programs in its pipeline, with Investigational New Drug (IND) studies planned for next year.

Prior to her work at Graphite Bio and LENZ Therapeutics, Ms. Drapkin served as CFO at Jounce Therapeutics, playing a key role in building the company’s financial infrastructure and securing $600 million in financing. Ms. Drapkin also previously owned a financial consulting firm, where she served as interim CFO for numerous early-stage biotechnology companies, including Jounce, Blueprint Medicines and other Third Rock Ventures portfolio companies. Prior to her consulting work, Ms. Drapkin was CFO at EPIX Pharmaceuticals. She also spent a decade in roles of increasing responsibility within the finance organization at Millennium Pharmaceuticals, and started her career in the technology and life sciences practice at PriceWaterhouseCoopers LLP.

Ms. Drapkin currently serves on the Boards at Acumen Pharmaceuticals (Nasdaq: ABOS), LENZ Therapeutics (Nasdaq: LENZ) and Imugene Limited (ASX: IMU), chairing the audit committee at both Acumen and Imugene. Ms. Drapkin also previously served as a board member of Proteostasis and Yumanity Therapeutics.

About Lucy Therapeutics

Lucy Therapeutics is a private biotechnology company in Waltham, MA, founded by Amy Ripka, Ph.D., in 2017, dedicated to unraveling the complex and interrelated biological processes driving central nervous system diseases. Sitting at the center of genetics and mitochondrial function, Lucy Therapeutics is leading the change in how we think about the intersecting pathways that play critical roles in human health and disease, particularly those of the central nervous system, including Rett syndrome, Parkinson’s and Alzheimer’s disease. For more information, visit lucytherapeutics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241015322008/en/

Media

Lucy Therapeutics

Jessica Garrant

press@lucytherapeutics.com

Source: Lucy Therapeutics, Inc.

FAQ

Who is the new Board Chair of Lucy Therapeutics (LucyTx)?

Kim Drapkin has been appointed as the new Board Chair of Lucy Therapeutics (LucyTx).

What is Lucy Therapeutics' (LucyTx) focus in drug development?

Lucy Therapeutics (LucyTx) focuses on developing small molecule therapies for complex neurological diseases, including Rett syndrome, Parkinson's, and Alzheimer's disease.

How much funding has Lucy Therapeutics (LucyTx) secured recently?

Lucy Therapeutics (LucyTx) recently secured $12.5 million in additional funding, bringing its total funding to $37 million.

What is Lucy Therapeutics' (LucyTx) approach to drug discovery?

Lucy Therapeutics (LucyTx) analyzes various disease drivers, including mitochondrial, environmental, and genetic factors, to create detailed knowledge maps and identify unique drug targets.

When are Lucy Therapeutics' (LucyTx) Investigational New Drug (IND) studies planned?

Lucy Therapeutics (LucyTx) has planned Investigational New Drug (IND) studies for next year.