89bio Announces Appointment of Kathy LaPorte to its Board of Directors

Rhea-AI Summary

89bio, Inc. (Nasdaq: ETNB) has appointed Kathy LaPorte to its Board of Directors, effective immediately. LaPorte brings over 30 years of biotech industry experience, enhancing operational capabilities and driving growth. CEO Rohan Palekar praised her expertise as invaluable for advancing the ongoing clinical development of BIO89-100, a potential treatment for NASH. LaPorte's background includes leadership roles in various biotech boards and a strong record in venture investing.

This strategic appointment aims to bolster 89bio's efforts in developing innovative therapies for liver and cardio-metabolic diseases.

Positive

• Kathy LaPorte's appointment adds significant expertise to the Board of Directors.
• LaPorte has a strong track record of enhancing operational capabilities.
• Her experience in biotech is expected to support the advancement of BIO89-100.

Negative

• None

SAN FRANCISCO, Nov. 03, 2021 (GLOBE NEWSWIRE) -- 89bio, Inc. (Nasdaq: ETNB), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardio-metabolic diseases, today announced the appointment of Kathy LaPorte to its Board of Directors, effective immediately. Ms. LaPorte brings deep expertise and valuable experience in the industry to the Company.

"It is a pleasure to welcome Kathy, an esteemed industry leader, to our Board of Directors," said Rohan Palekar, Chief Executive Officer of 89bio. "Kathy has a strong track record for enhancing operational capabilities to drive growth. Her extensive experience serving on numerous public boards, and her diverse background across the biotech industry will be invaluable as we continue efforts to advance our ongoing clinical development program for BIO89-100: a highly differentiated FGF21 analog with a validated and potentially transformational profile for patients suffering from NASH. Kathy is a tremendous addition to our board, and we look forward to working with her."

Ms. LaPorte added, "I am delighted to join 89Bio, whose emerging data suggests BIO89-100 has the potential to combine strong efficacy, a favorable safety and tolerability profile, and potentially best-in-class dosing convenience. I look forward to working with 89bio’s outstanding team to advance the company’s mission."

Ms. LaPorte brings over 30 years of experience in executive leadership and venture investing within the biotech industry. Ms. LaPorte previously served as Chief Executive Officer and Board Member of Nodality Inc. Ms. LaPorte was a Co-Founder of Health Tech Capital and a Founding Partner of New Leaf Venture Partners, which was a spin-out from the Sprout Group, where she served as a General Partner. She has extensive Board experience and currently serves on the Boards of Bolt Biotherapeutics (NASDAQ: BOLT), Precipio Inc., (NASDAQ: PRPO), and Phoenix Biotech Acquisition Corporation (NASDAQ: PBAXU). Additionally, Ms. LaPorte has served on multiple public boards including Onyx Pharmaceuticals (NASDAQ: ONXX), Affymax (NASDAQ: AFFY), and ISTA Pharmaceuticals (NASDAQ: ISTA). Ms. LaPorte received her MBA from the Stanford University Graduate School of Business and her B.S. in Biology from Yale University.

About 89bio

89bio is a clinical-stage biopharmaceutical company dedicated to the development of best-in-class therapies for patients with liver and cardiometabolic diseases who lack optimal treatment options. The company is focused on rapidly advancing its lead candidate, BIO89-100, through clinical development for the treatment of non-alcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG). BIO89-100 is a specifically engineered, potentially best-in-class fibroblast growth factor 21 (FGF21) analog with unique glycoPEGylated technology that optimizes biological activity through an extended half-life. The company is headquartered in San Francisco with operations in Herzliya, Israel. For more information, visit www.89bio.com or follow the company on LinkedIn.

Investor Contact:
Ryan Martins
Chief Financial Officer
investors@89bio.com

Media Contact:
Peter Duckler
773-343-3069
pduckler@w2ogroup.com

FAQ

What is the significance of Kathy LaPorte's appointment to 89bio's Board of Directors?

Kathy LaPorte's appointment is significant as she brings over 30 years of experience and expertise in the biotech industry, which is expected to enhance the company's operational capabilities and support the development of BIO89-100.

How does Kathy LaPorte's experience benefit 89bio and its lead candidate, BIO89-100?

LaPorte's extensive background in biotech and leadership roles on various boards will provide valuable insights and guidance to advance the clinical development of BIO89-100, a potential treatment for NASH.

When was Kathy LaPorte appointed to the Board of Directors of 89bio?

Kathy LaPorte was appointed to the Board of Directors of 89bio effective immediately on November 3, 2021.

What role does BIO89-100 play in 89bio's business strategy?

BIO89-100 is a key component of 89bio's business strategy as it aims to provide a best-in-class treatment for liver diseases, particularly non-alcoholic steatohepatitis (NASH) and severe hypertriglyceridemia (SHTG).