Editas Medicine Appoints Gad Berdugo as Chief Business Officer

Rhea-AI Summary

Editas Medicine has appointed Gad Berdugo as the new Chief Business Officer, effective immediately. Berdugo brings over 25 years of experience in biotech corporate development and business strategy. He previously held executive roles at EpiVax Oncology and Immune Pharmaceuticals. Under his leadership, Editas aims to enhance its business development and advance its clinical and preclinical pipeline, which includes ongoing trials and strategic partnerships. President Cynthia Collins expressed confidence in Berdugo's ability to drive the company’s growth amidst the dynamic gene editing landscape.

Positive

• Gad Berdugo's extensive experience in biotech positions him as a strong asset for Editas.
• His appointment is expected to enhance business development and corporate strategy, potentially improving shareholder value.
• Editas has an ongoing clinical trial and a rapidly advancing preclinical pipeline.

Negative

• Concerns about leadership continuity may arise due to Berdugo's relatively recent appointment.
• The company faces uncertainties associated with clinical trials and regulatory approvals, which could impact progress.

CAMBRIDGE, Mass., July 27, 2020 (GLOBE NEWSWIRE) -- Editas Medicine, Inc. (Nasdaq: EDIT), a leading genome editing company, today announced that it has named Gad Berdugo as the Company’s Chief Business Officer. Mr. Berdugo will oversee the Company’s business and corporate development, alliance management, and strategy initiatives.

“We are delighted to have Gad join our team to help drive our strategic growth. As we advance our pipeline and execute on our vision to develop transformative medicines for people living with serious diseases, Gad’s global business development expertise and strong leadership skills are significant assets for the Company,” said Cynthia Collins, President and Chief Executive Officer, Editas Medicine.

“I am happy to join Editas Medicine, a leader in the development of innovative, transformative gene editing medicines. It is an exciting time to join the team as we have one clinical trial under way, a diverse and rapidly advancing preclinical pipeline, and several productive partnerships, collaborations, and strategic alliances,” said Gad Berdugo, Chief Business Officer.

Mr. Berdugo has more than 25 years of biotech corporate development, business development, strategy, and financial experience. Among his prior roles, Mr. Berdugo held several executive-level positions for life science companies including serving most recently as CEO of EpiVax Oncology, Inc., a precision cancer immunotherapy company, which he co-founded in 2017; CFO at Nasdaq listed Immune Pharmaceuticals Inc.; Managing Director and Head of Life Sciences at Tegris Advisors LLC, a New York based advisory boutique where he led several cross-border M&As and strategic alliances mandates; and Founder and Managing Partner of the Explorium Global Healthcare Fund, providing growth capital to emerging biotech companies.

Earlier in his career, Mr. Berdugo also served as Director, Senior Equity Research Analyst and Life Sciences Sector Leader at Lazard, Asset Management Group and as a Director of Global Business Development within Baxter Healthcare’s biopharma group. Mr. Berdugo started his career at Abbott Laboratories.

Mr. Berdugo received his M.B.A. from H.E.C. School of Management in Paris (exchange at Kellogg, Northwestern), his M.Sc. in Biochemical Engineering from University College London, and his B.Sc. with Honors in Biotechnology from Imperial College London. He currently serves on the board of directors of Genome Profiling LLC.

About Editas Medicine
As a leading genome editing company, Editas Medicine is focused on translating the power and potential of the CRISPR/Cas9 and CRISPR/Cpf1 (also known as Cas12a) genome editing systems into a robust pipeline of treatments for people living with serious diseases around the world. Editas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a broad class of diseases. For the latest information and scientific presentations, please visit www.editasmedicine.com. 

Forward-Looking Statements
This press release contains forward-looking statements and information within the meaning of The Private Securities Litigation Reform Act of 1995. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’ ‘‘would,’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company 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 factors, including: uncertainties inherent in the initiation and completion of pre-clinical studies and clinical trials and clinical development of the Company’s product candidates; availability and timing of results from pre-clinical studies and clinical trials; whether interim results from a clinical trial will be predictive of the final results of the trial or the results of future trials; expectations for regulatory approvals to conduct trials or to market products and availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements. These and other risks are described in greater detail under the caption “Risk Factors” included in the Company’s most recent Quarterly Report on Form 10-Q, which is on file with the Securities and Exchange Commission, and in other filings that the Company may make with the Securities and Exchange Commission in the future. Any forward-looking statements contained in this press release represent the Company’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, the Company explicitly disclaims any obligation to update any forward-looking statements.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/636867cc-8543-4843-9aad-9d2b7954ad2b

FAQ

What recent executive change occurred at Editas Medicine?

Editas Medicine appointed Gad Berdugo as its new Chief Business Officer.

What does Gad Berdugo's background include?

Berdugo has over 25 years of experience in biotech, having held executive roles at EpiVax Oncology and Immune Pharmaceuticals.

What impact might Gad Berdugo's appointment have on Editas Medicine?

His leadership is expected to enhance business development initiatives and support the advancement of the company's clinical pipeline.

What ongoing projects does Editas Medicine have?

Editas currently has one clinical trial underway alongside a diverse preclinical pipeline.

What potential risks does Editas Medicine face following this leadership change?

The company may experience uncertainties related to clinical trial outcomes and regulatory approvals, which could affect its operational effectiveness.