Cidara Therapeutics Announces Appointment of Frank Karbe as Chief Financial Officer
Cidara Therapeutics (CDTX) has appointed Frank Karbe as Chief Financial Officer, effective February 24, 2025, succeeding Preetam Shah. Karbe brings over 25 years of leadership experience in the biopharma industry, with a strong track record in transitioning companies from R&D to commercialization.
The appointment comes as Cidara advances its long-acting influenza antiviral drug CD388 through the Phase 2b NAVIGATE study. Karbe's recent achievements include serving as CEO of Better Therapeutics, where he secured the first FDA authorization for a digital therapeutic treating type 2 diabetes. At Myovant Sciences, he helped scale the company to 500+ employees with two FDA-approved products, raising over $2 billion and securing a $4 billion Pfizer partnership. Previously, at Exelixis, he led the company's transformation from discovery to commercialization.
Cidara Therapeutics (CDTX) ha nominato Frank Karbe come Chief Financial Officer, con effetto dal 24 febbraio 2025, succedendo a Preetam Shah. Karbe porta con sé oltre 25 anni di esperienza nella leadership nel settore biofarmaceutico, con un solido curriculum nel passaggio delle aziende dalla ricerca e sviluppo alla commercializzazione.
Questa nomina arriva mentre Cidara avanza con il suo farmaco antivirale per l'influenza a lunga durata, CD388, attraverso lo studio di Fase 2b NAVIGATE. Tra i recenti successi di Karbe c'è la sua esperienza come CEO di Better Therapeutics, dove ha ottenuto la prima autorizzazione della FDA per una terapia digitale per il trattamento del diabete di tipo 2. Presso Myovant Sciences, ha contribuito a far crescere l'azienda fino a oltre 500 dipendenti con due prodotti approvati dalla FDA, raccogliendo oltre 2 miliardi di dollari e assicurando una partnership con Pfizer del valore di 4 miliardi di dollari. In precedenza, presso Exelixis, ha guidato la trasformazione dell'azienda dalla scoperta alla commercializzazione.
Cidara Therapeutics (CDTX) ha nombrado a Frank Karbe como Director Financiero, a partir del 24 de febrero de 2025, sucediendo a Preetam Shah. Karbe aporta más de 25 años de experiencia en liderazgo en la industria biofarmacéutica, con un sólido historial en la transición de empresas de I+D a la comercialización.
El nombramiento se produce mientras Cidara avanza con su medicamento antiviral de acción prolongada para la influenza, CD388, a través del estudio NAVIGATE de Fase 2b. Los logros recientes de Karbe incluyen su papel como CEO de Better Therapeutics, donde logró la primera autorización de la FDA para una terapia digital que trata la diabetes tipo 2. En Myovant Sciences, ayudó a escalar la empresa a más de 500 empleados con dos productos aprobados por la FDA, recaudando más de 2 mil millones de dólares y asegurando una asociación con Pfizer por un valor de 4 mil millones de dólares. Anteriormente, en Exelixis, lideró la transformación de la empresa de descubrimiento a comercialización.
시다라 테라퓨틱스 (CDTX)는 2025년 2월 24일부터 프리탐 샤를 대신하여 프랭크 카르베를 최고 재무 책임자로 임명했습니다. 카르베는 생물 제약 산업에서 25년 이상의 리더십 경험을 가지고 있으며, 연구 개발에서 상업화로의 전환에 강력한 실적을 보유하고 있습니다.
이번 임명은 시다라가 장기 작용 인플루엔자 항바이러스 약물 CD388을 2b 단계 NAVIGATE 연구를 통해 발전시키고 있는 가운데 이루어졌습니다. 카르베의 최근 성과로는 Better Therapeutics의 CEO로 재직하며 제2형 당뇨병을 치료하는 디지털 치료제에 대한 첫 번째 FDA 승인을 확보한 것이 있습니다. Myovant Sciences에서는 FDA 승인 제품 두 개와 함께 500명 이상의 직원으로 회사를 확장하는 데 도움을 주었으며, 20억 달러 이상을 모금하고 40억 달러 규모의 화이자 파트너십을 확보했습니다. 이전에는 Exelixis에서 발견에서 상업화로의 전환을 이끌었습니다.
Cidara Therapeutics (CDTX) a nommé Frank Karbe au poste de directeur financier, à compter du 24 février 2025, succédant à Preetam Shah. Karbe apporte plus de 25 ans d'expérience en leadership dans l'industrie biopharmaceutique, avec un solide bilan dans la transition des entreprises de la recherche et développement à la commercialisation.
Cette nomination intervient alors que Cidara fait progresser son médicament antiviral à action prolongée contre la grippe, CD388, à travers l'étude NAVIGATE de phase 2b. Les réalisations récentes de Karbe incluent son rôle en tant que PDG de Better Therapeutics, où il a obtenu la première autorisation de la FDA pour une thérapie numérique traitant le diabète de type 2. Chez Myovant Sciences, il a contribué à faire passer l'entreprise à plus de 500 employés avec deux produits approuvés par la FDA, levant plus de 2 milliards de dollars et sécurisant un partenariat de 4 milliards de dollars avec Pfizer. Auparavant, chez Exelixis, il a dirigé la transformation de l'entreprise de la découverte à la commercialisation.
Cidara Therapeutics (CDTX) hat Frank Karbe zum Chief Financial Officer ernannt, der am 24. Februar 2025 sein Amt antreten wird und Preetam Shah nachfolgt. Karbe bringt über 25 Jahre Führungserfahrung in der Biopharma-Branche mit, einschließlich einer starken Erfolgsbilanz beim Übergang von Unternehmen von Forschung und Entwicklung zur Kommerzialisierung.
Die Ernennung erfolgt, während Cidara sein lang wirkendes antivirales Influenza-Medikament CD388 durch die Phase-2b NAVIGATE-Studie vorantreibt. Karbes jüngste Erfolge umfassen seine Tätigkeit als CEO von Better Therapeutics, wo er die erste FDA-Zulassung für eine digitale Therapie zur Behandlung von Typ-2-Diabetes sicherte. Bei Myovant Sciences half er, das Unternehmen auf über 500 Mitarbeiter mit zwei FDA-zugelassenen Produkten zu skalieren, sammelte über 2 Milliarden Dollar ein und sicherte eine Partnerschaft mit Pfizer im Wert von 4 Milliarden Dollar. Zuvor leitete er bei Exelixis die Transformation des Unternehmens von der Entdeckung zur Kommerzialisierung.
- Appointment of experienced CFO with proven track record in scaling biotech companies
- New CFO's experience in securing major partnerships (e.g., $4B Pfizer deal)
- Strong background in capital raising ($2B+ at Myovant Sciences)
- Experience in successfully transitioning companies from R&D to commercialization
- Departure of current CFO indicates potential transition risks
- Company still in clinical trial phase with main drug candidate
Industry veteran CFO Frank Karbe brings more than 25 years of leadership experience in the biopharma industry transitioning companies from R&D to commercialization
SAN DIEGO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that Frank Karbe, MBA, has been appointed Chief Financial Officer (CFO), effective February 24, 2025. Mr. Karbe will succeed Preetam Shah, Ph.D., MBA, who is departing to pursue other professional opportunities. Dr. Shah will serve as a consultant to the Company.
“We are pleased to welcome Frank to the team as we advance our long-acting influenza antiviral drug CD388 through the end of this flu season in the Phase 2b NAVIGATE study and plan for Phase 3 and beyond.” said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. “We expect that Frank’s extensive experience as a leader in the biopharma industry and proven track record for transitioning companies to multi-billion-dollar commercial organizations will prove invaluable to the strategic vision of Cidara. On behalf of the entire Cidara team, I thank Preetam for his guidance and dedication which helped position Cidara for success. We wish him luck in his future endeavors.”
Mr. Karbe added, “Cidara is at an important stage in the company’s evolution, with its novel DFC candidate, CD388, showing immense potential as a universal influenza preventative. Influenza continues to drive significant morbidity and mortality despite the availability of vaccines and antiviral treatments. I am excited to join the Cidara team and look forward to leveraging my experience to drive the company’s growth and bring CD388 to the tens of millions of patients who can benefit from it.”
Mr. Karbe is a widely experienced senior executive with over 25 years of leadership experience in life sciences, healthcare, and technology. Most recently, he served as Chief Executive Officer and President of Better Therapeutics, where he led the company to the first-ever FDA authorization of a digital therapeutic for the treatment of type 2 diabetes. Previously, as President and Chief Financial Officer of Myovant Sciences, Mr. Karbe played a pivotal role in scaling the company from a startup to a publicly listed company with 500+ employees and two FDA approved products in under five years, raising over
About Cidara Therapeutics
Cidara Therapeutics is using its proprietary Cloudbreak® platform to develop novel drug-Fc conjugates (DFCs) comprising targeted small molecules or peptides coupled to a proprietary human antibody fragment (Fc). Cidara’s lead DFC candidate, CD388, is a long-acting antiviral designed to achieve universal prevention of seasonal and pandemic influenza with a single dose by directly inhibiting viral proliferation. In June 2023, CD388 was granted Fast Track Designation by the U.S. Food and Drug Administration (FDA), and the Company announced initiation of a Phase 2b trial in September 2024. Additional DFCs have been developed for oncology and in July 2024 Cidara received IND clearance for CBO421 which is intended to target CD73 in solid tumors. Cidara is headquartered in San Diego, California. For more information, please visit www.cidara.com.
Inducement Awards
In connection with the foregoing appointment, Cidara’s Compensation Committee of its Board of Directors granted a non-qualified stock option award and restricted stock units (RSUs) for an aggregate of 172,500 shares of its common stock, pursuant to the Cidara Therapeutics, Inc. 2020 Inducement Incentive Plan, with a grant date of February 24, 2025. The stock option will have an exercise price equal to the closing price of Cidara’s common stock on the grant date. The shares subject to the option will vest over four years, with
The foregoing equity award was granted as an inducement material to the employee entering into employment with Cidara, in accordance with Nasdaq Listing Rule 5635(c)(4). The Cidara Therapeutics, Inc. 2020 Inducement Incentive Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of Cidara, or following a bona fide period of non-employment, as an inducement material to such individual’s entering into employment with Cidara, pursuant to Nasdaq Listing Rule 5635(c)(4).
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “anticipates,” “expect,” “intends,” “believes,” “may,” “plan” or “will”. Forward-looking statements in this release include, but are not limited to, statements related to the potential contributions of Mr. Karbe to Cidara and its stakeholders, and whether Cidara will continue advancing its flu DFC candidate through late-stage clinical development. Such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, such as unanticipated delays in or negative results from Cidara’s clinical trials and other risks related to clinical development, delays in action by regulatory authorities, other obstacles on the enrollment of patients or other aspects of CD388 or other DFC development, and other risks and uncertainties associated with Cidara’s business in general. These and other risks are identified under the caption “Risk Factors” in Cidara’s most recent Quarterly Report on Form 10-Q and other filings subsequently made with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Cidara does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
INVESTOR CONTACT:
Brian Ritchie
LifeSci Advisors
(212) 915-2578
britchie@lifesciadvisors.com
MEDIA CONTACT:
Michael Fitzhugh
LifeSci Communications
(628) 234-3889
mfitzhugh@lifescicomms.com
FAQ
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