Climb Bio Appoints Seasoned Biotech Leaders to Board of Directors

Rhea-AI Summary

Climb Bio (Nasdaq: CLYM) has announced significant changes to its Board of Directors with the appointments of two biotech industry veterans: Kim Cobleigh Drapkin, CPA, and Bo Cumbo. Drapkin, who will serve as Audit Committee Chair, brings over 30 years of financial leadership experience in biotech and pharmaceutical companies, most recently serving as CEO of Graphite Bio.

Cumbo, appointed as Compensation Committee Chair, has 30+ years of experience in the pharmaceutical and biotechnology industries, with a track record of leading 11 successful specialty and rare disease therapy launches. He currently serves as President and CEO of Solid Biosciences.

The appointments come as Climb Bio positions itself for evolution into a late-stage, pre-commercial company focused on immune-mediated diseases. Concurrent with these appointments, Simon Tate will step down from the Board, and Adam Rosenberg will not seek re-election at the 2025 Annual Meeting.

Positive

• Addition of two seasoned executives with 30+ years of industry experience each
• New board member Drapkin brings extensive financial and strategic growth expertise
• Cumbo brings valuable commercial experience with 11 successful therapy launches
• Strategic alignment with company's evolution toward late-stage, pre-commercial status

Negative

• Loss of two existing board members could create temporary continuity challenges

Appointments Include Industry Veterans Kim Cobleigh Drapkin, CPA, and Bo Cumbo as Independent Directors

WELLESLEY HILLS, Mass., April 01, 2025 (GLOBE NEWSWIRE) -- Climb Bio, Inc. (Nasdaq: CLYM) today announced the appointments of biotech industry veterans Kim Cobleigh Drapkin, CPA, and Bo Cumbo to its Board of Directors. Ms. Drapkin will assume the role of Audit Committee Chair, and Mr. Cumbo will assume the role of Compensation Committee Chair.

“We are delighted to welcome Kim and Bo to our Board of Directors at Climb Bio,” said Aoife Brennan, President and CEO of Climb Bio. “Kim and Bo each bring three decades of leadership experience in the biotechnology and pharmaceutical industry, offering invaluable perspective as we continue to build the company and advance our pipeline. Their insights will be instrumental in shaping Climb Bio’s evolution into a late-stage, pre-commercial company committed to transforming the lives of patients with immune-mediated diseases."

Kim Cobleigh Drapkin, CPA, is a seasoned financial leader with over 30 years of experience guiding private and publicly traded biotechnology and pharmaceutical companies through strategic growth, financial planning, capital raises, and transformative transactions. Most recently, she served as Chief Executive Officer of Graphite Bio. Prior to that, she was Chief Financial Officer at Jounce Therapeutics, where she played a pivotal role in establishing the company’s financial infrastructure. She began her career in the technology and life sciences practice at PricewaterhouseCoopers LLP. Ms. Drapkin currently serves on the board of directors of Acumen Pharmaceuticals (Nasdaq: ABOS), Imugene (ASX: IMU), LENZ Therapeutics (Nasdaq: LENZ), and Lucy Therapeutics, chairing the audit committees at Acumen and Imugene. She previously served as a board member of Kineta, Proteostasis, and Yumanity Therapeutics. Ms. Drapkin holds a B.S. in Accounting from Babson College.

Bo Cumbo brings over 30 years of experience in the pharmaceutical and biotechnology industries, with a proven track record of leading successful commercial launches for 11 specialty and rare disease therapies. He currently serves as President, Chief Executive Officer, and director of Solid Biosciences (Nasdaq: SLDB). Previously, Mr. Cumbo was President and Chief Executive Officer of AavantiBio, Inc. Before that, he held key leadership roles at Sarepta Therapeutics, Inc., where he most recently served as Executive Vice President and Chief Commercial Officer. Earlier in his career, he held commercial leadership roles at Gilead Sciences and Vertex Pharmaceuticals. Mr. Cumbo currently serves on the board of directors of Verve Therapeutics, Inc. (Nasdaq: VERV) and previously served on the board of directors of RA Pharmaceuticals and Clinical Supplies Management. He holds a B.S. in Laboratory Technology from Auburn University.

In connection with the new director appointments, Simon Tate will step down from the Board of Directors and Adam Rosenberg will not seek re-election at the company’s 2025 Annual Meeting of Stockholders.

“We are thrilled to have Kim and Bo join the Board and welcome their guidance and insights as we build a leading immune-mediated disease focused company,” said Doug Williams, Ph.D., Chair of the Climb Bio Board of Directors. Dr. Williams continued, “On behalf of Climb Bio and our Board, I would also like to take this opportunity to thank Simon and Adam for their years of service and contributions to our company.”

About Climb Bio, Inc.
Climb Bio, Inc. is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The company’s pipeline includes, budoprutug, an anti-CD19 monoclonal antibody that has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases, and CLYM116, an anti-APRIL monoclonal antibody currently in IND-enabling studies for IgA nephropathy. For more information, please visit climbbio.com.  

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding: future expectations, plans and prospects for Climb Bio; expectations regarding the therapeutic benefits, clinical potential and clinical development of budoprutug and CLYM116; the anticipated benefits of Climb Bio’s license agreement with Mabworks Biotech Co., Ltd.; the sufficiency of Climb Bio’s cash resources for the period anticipated; and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” “will,” “working” and similar expressions. Forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. Climb Bio may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. These risks and uncertainties include, but are not limited to, important risks and uncertainties associated with: the ability of Climb Bio to timely and successfully achieve or recognize the anticipated benefits of its acquisition of Tenet Medicines, Inc. and its license agreement with Mabworks Biotech Co., Ltd.; changes in applicable laws or regulation; the possibility that Climb Bio may be adversely affected by other economic, business and/or competitive factors; Climb Bio’s ability to advance budoprutug and CLYM116 on the timelines expected or at all and to obtain and maintain necessary approvals from the U.S. Food and Drug Administration and other regulatory authorities; obtaining and maintaining the necessary approvals from investigational review boards at clinical trial sites and independent data safety monitoring boards; replicating in clinical trials positive results found in early-stage clinical trials of budoprutug; competing successfully with other companies that are seeking to develop treatments for primary membranous nephropathy, immune thrombocytopenia, systemic lupus erythematosus, IgA nephropathy and other immune-mediated diseases; maintaining or protecting intellectual property rights related to budoprutug, CLYM116 and/or its other product candidates; managing expenses; and raising the substantial additional capital needed, on the timeline necessary, to continue development of budoprutug, CLYM116 and any other product candidates Climb Bio may develop. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Climb Bio’s actual results to differ materially from those contained in the forward-looking statements, see the “Risk Factors” section, as well as discussions of potential risks, uncertainties and other important factors, in Climb Bio’s most recent filings with the U.S. Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Climb Bio’s views as of the date hereof and should not be relied upon as representing Climb Bio’s views as of any date subsequent to the date hereof. Climb Bio anticipates that subsequent events and developments will cause Climb Bio’s views to change. However, while Climb Bio may elect to update these forward-looking statements at some point in the future, Climb Bio specifically disclaims any obligation to do so, except as required by law.

Investors
Chris Brinzey
ICR Healthcare
chris.brinzey@icrhealthcare.com
339-970-2843

Media
Jon Yu
ICR Healthcare
jon.yu@icrhealthcare.com
475-395-5375

FAQ

What roles will the new CLYM board members assume in April 2025?

Kim Cobleigh Drapkin will serve as Audit Committee Chair, while Bo Cumbo will assume the role of Compensation Committee Chair.

How many successful therapy launches has new CLYM board member Bo Cumbo overseen?

Bo Cumbo has led successful commercial launches for 11 specialty and rare disease therapies throughout his career.

What is Climb Bio's (CLYM) current strategic focus according to the board changes?

Climb Bio is evolving into a late-stage, pre-commercial company focused on transforming the lives of patients with immune-mediated diseases.

Which board members are leaving Climb Bio (CLYM) following these appointments?

Simon Tate will step down from the Board, and Adam Rosenberg will not seek re-election at the 2025 Annual Meeting.