Decibel Therapeutics Appoints Kevin F. McLaughlin to its Board of Directors

Rhea-AI Summary

Decibel Therapeutics (Nasdaq: DBTX) has appointed Kevin F. McLaughlin to its Board of Directors. McLaughlin brings over 40 years of experience in biopharma and finance, having previously served as CFO at Acceleron Pharma until its acquisition by Merck in 2021. His leadership is expected to provide strategic insights as Decibel focuses on advancing gene therapies for hearing loss and balance disorders. Underlining its commitment, Decibel continues to develop its proprietary platform aimed at meeting significant unmet medical needs in these fields.

Positive

• Appointment of Kevin McLaughlin adds significant biopharma expertise to the Board.
• McLaughlin's previous experience includes guiding biotech companies through financial maturation.

Negative

• Concerns about continuity and experience gaps following management change.

BOSTON, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Decibel Therapeutics (Nasdaq: DBTX), a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments to restore and improve hearing and balance, today announced the appointment of Kevin F. McLaughlin to its Board of Directors.

“We are pleased to welcome Kevin to the Decibel Board. He brings a wealth of biopharma experience, including guiding biotech companies through stages of increasing financial and operational maturity,” said Laurence Reid, Ph.D., Chief Executive Officer at Decibel. “His appointment to the Board provides us with a critical strategic perspective as we continue to build a sustainable gene therapy company to develop innovating new medicines for hearing loss and balance disorders.”

Mr. McLaughlin has more than 40 years of financial and operating management experience spanning the biotech, high-tech and education industries. From 2010 to 2021, he served as Senior Vice President, Chief Financial Officer and Treasurer of Acceleron Pharma until its acquisition by Merck & Co., Inc. in December 2021. Prior to Acceleron, he was SVP and CFO of Qteros, Inc., a cellulosic biofuels company from 2009 through 2010 and was co-founder, Chief Operating Officer and director of Aptius Education, Inc., a publishing company, from 2007 through 2009. From 1996 through 2007, Mr. McLaughlin held several executive positions with PRAECIS Pharmaceuticals. He joined the company as their first CFO later becoming Chief Operating Officer, and then President and Chief Executive Officer and a member of the Board of Directors. In this capacity he was responsible for negotiating the sale of the company to GSK plc (formerly GlaxoSmithKline). Mr. McLaughlin currently serves on the boards of Stealth Bio Therapeutics and Vericel Corporation. He began his career in senior financial roles at Prime Computer and Computervision Corporation. Mr. McLaughlin received a bachelor’s degree from Northeastern University and an MBA from Babson F.W. Olin Graduate School of Business. 

“I am excited to join the Decibel Board of Directors and to help Decibel continue to advance innovative medicines for the treatment of hearing and balance disorders,” said Mr. McLaughlin.

About Decibel Therapeutics
Decibel Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments to restore and improve hearing and balance, one of the largest areas of unmet need in medicine. Decibel has built a proprietary platform that integrates single-cell genomics and bioinformatic analyses, precision gene therapy technologies and expertise in inner ear biology. Decibel is leveraging its platform to advance gene therapies designed to selectively replace genes for the treatment of congenital, monogenic hearing loss and to regenerate inner ear hair cells for the treatment of acquired hearing and balance disorders. Decibel’s pipeline, including its lead gene therapy product candidate, DB-OTO, to treat congenital, monogenic hearing loss, is designed to deliver on our vision of creating a world of connection for people with hearing and balance disorders. For more information about Decibel Therapeutics, please visit www.decibeltx.com or follow us on Twitter.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release, including statements regarding Decibel’s strategy, future operations, prospects, plans, objectives of management, the therapeutic potential for Decibel’s product candidates and preclinical programs, and the potential benefits of cell-selective expression constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” or “would,” or the negative of these terms, or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Decibel 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. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including: uncertainties inherent in the identification and development of product candidates, including the timing of and Decibel’s ability to obtain approval to initiate clinical development of its program candidates, whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials, whether Decibel’s cash resources are sufficient to fund its foreseeable and unforeseeable operating expenses and capital expenditure requirements, uncertainties related to the impact of the COVID-19 pandemic on Decibel’s business and operations, as well as the risks and uncertainties identified in Decibel’s filings with the Securities and Exchange Commission (SEC), including those risks detailed under the caption “Risk Factors” in Decibel’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022 and in other filings Decibel may make with the SEC. In addition, the forward-looking statements included in this press release represent Decibel’s views as of the date of this press release. Decibel anticipates that subsequent events and developments will cause its views to change. However, while Decibel may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Decibel’s views as of any date subsequent to the date of this press release.

Investor Contact:
Julie Seidel
Stern Investor Relations, Inc.
julie.seidel@sternir.com
212-362-1200

Media Contact:
Chris Railey
Ten Bridge Communications
Chris@tenbridgecommunications.com
617-834-0936

FAQ

Who is Kevin McLaughlin and what is his role at Decibel Therapeutics?

Kevin McLaughlin is newly appointed to Decibel Therapeutics' Board of Directors, contributing over 40 years of management experience in the biopharma sector.

What experience does Kevin McLaughlin bring to Decibel Therapeutics?

McLaughlin has extensive experience in financial and operational management, including a successful tenure as CFO at Acceleron Pharma.

What is the significance of Kevin McLaughlin's appointment for Decibel Therapeutics?

His appointment is expected to enhance Decibel’s strategic direction and financial oversight as the company develops gene therapies for hearing and balance disorders.