Crinetics Pharmaceuticals Appoints Chris Robillard as Chief Business Officer

Rhea-AI Summary

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the appointment of Chris Robillard as chief business officer, a new role aimed at enhancing corporate development strategies. Robillard, with over a decade of experience, is expected to drive global pharmaceutical alliances to maximize the value of Crinetics’ programs. The company has demonstrated clinical proof-of-concept for three drug candidates and is focused on rare endocrine diseases. The ongoing Phase 3 clinical program for paltusotine, targeting acromegaly, is a significant aspect of their pipeline.

Positive

• Appointment of Chris Robillard as CBO could enhance corporate strategies.
• Robillard's experience in global pharmaceutical alliances may expand market reach.
• Three drug candidates have demonstrated clinical proof-of-concept, showing potential.

Negative

• None.

SAN DIEGO, March 21, 2022 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, today announced the appointment of Chris Robillard to the newly created position of chief business officer. Mr. Robillard brings more than a decade of experience designing and implementing corporate development strategies to capitalize on growth opportunities for biopharmaceutical companies.

“Chris’s experience building global pharmaceutical alliances will be instrumental to our efforts to maximize the value of our programs and expand their geographic reach,” said Scott Struthers, Ph.D., founder and chief executive officer of Crinetics. “His keen business acumen, corporate development expertise, and proven ability to work across divisions make him well suited to join our leadership. We are thrilled to welcome him to the Crinetics team and look forward to leveraging his insights as we work to address the unmet needs of patients with endocrine diseases around the world.”

Before joining Crinetics, Mr. Robillard served as VP and head of business development for Goldfinch Bio, where he worked with leaders across the organization to develop the corporate development strategy that incorporated partnering and funding opportunities. Prior to that, at Karyopharm Therapeutics, he led business development and corporate strategy efforts, driving international expansion while transitioning from a clinical to commercial company. Earlier in his career, Mr. Robillard held senior positions in business development at Baxalta and finance at Cubist. Mr. Robillard earned a Bachelor of Science in finance from Lehigh University and a Master of Business Administration from Pepperdine University.

Mr. Robillard added, “Serving as Crinetics’ CBO is a truly exciting opportunity. The Company has demonstrated clinical proof-of-concept for three assets and has a proven drug development platform to drive the continued growth of its differentiated pipeline. I look forward to working with my new colleagues to leverage this pipeline and our collective skill sets to unlock additional value for patients and shareholders.”

About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company’s lead product candidate, paltusotine, is an investigational, oral, selective nonpeptide somatostatin receptor type 2 (SST2) biased agonist for the treatment of acromegaly, an orphan disease affecting more than 26,000 people in the United States. A Phase 3 clinical program in acromegaly with paltusotine is underway. Crinetics is also developing paltusotine for the treatment of carcinoid syndrome associated with neuroendocrine tumors. The company is developing CRN04777, an investigational, oral, nonpeptide somatostatin receptor type 5 (SST5) agonist for congenital hyperinsulinism, as well as CRN04894, an investigational, oral, nonpeptide ACTH antagonist for the treatment of congenital adrenal hyperplasia, Cushing’s disease and other diseases of excess ACTH. All of the company’s drug candidates are new chemical entities resulting from in-house drug discovery efforts.

Forward-Looking Statements
This press 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. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding the potential to advance Crinetics’ ongoing clinical programs and bring additional therapeutic candidates into the clinic. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including risks and uncertainties inherent in Crinetics’ business, including unexpected adverse side effects or inadequate efficacy of the company’s product candidates that may limit their development, regulatory approval and/or commercialization, the company’s dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; the success of Crinetics’ clinical trials and nonclinical studies and the other risks and uncertainties described in the company’s periodic filings with the SEC. The events and circumstances reflected in the company’s forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Additional information on risks facing Crinetics can be found under the heading “Risk Factors” in Crinetics’ periodic reports, including its annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC. Except as required by applicable law, Crinetics does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Contacts:
Marc Wilson
Chief Financial Officer
IR@crinetics.com
(858) 450-6464

Investors / Media:
Corey Davis
LifeSci Advisors, LLC
cdavis@lifesciadvisors.com
(212) 915-2577

Aline Sherwood
Scienta Communications
asherwood@scientapr.com
(312) 238-8957

FAQ

What is the significance of Chris Robillard's appointment at Crinetics Pharmaceuticals?

Chris Robillard's appointment as chief business officer is expected to enhance corporate development strategies and drive growth opportunities at Crinetics.

What experience does Chris Robillard bring to Crinetics Pharmaceuticals?

Robillard has over a decade of experience in corporate development strategies within biopharmaceutical companies, having previously worked at Goldfinch Bio and Karyopharm Therapeutics.

What are the key assets being developed by Crinetics Pharmaceuticals?

Crinetics is focused on three main drug candidates, including paltusotine for acromegaly, which is currently in a Phase 3 clinical program.