Foghorn Therapeutics Appoints Ian Smith to its Board of Directors

Rhea-AI Summary

Foghorn Therapeutics (FHTX) announced the appointment of Ian Smith to its Board of Directors, effective April 27, 2021. Smith, a seasoned biotechnology leader, has been advising Foghorn since 2020 on business development and financing strategies. CEO Adrian Gottschalk expressed optimism over Smith's experience in capital formation and business growth, which is expected to enhance the company’s focus on chromatin regulatory systems. Smith brings a wealth of experience from positions at Viacyte and Vertex Pharmaceuticals, which may contribute to Foghorn's potential therapeutic breakthroughs in oncology.

Positive

• Appointment of Ian Smith provides significant business experience and capital expertise.
• Smith has advised the company since 2020, showing familiarity with its operations.
• Smith's background in biotechnology leadership may foster innovative developments.

Negative

• Concerns about continuity and potential experience gaps in leadership.

CAMBRIDGE, Mass., April 28, 2021 (GLOBE NEWSWIRE) -- Foghorn Therapeutics Inc. (Nasdaq: FHTX), a company pioneering the discovery and development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system, today announced the appointment of Ian Smith to its Board of Directors effective, April 27.

“Ian is a proven biotechnology leader with a diverse skill set, and I am excited to welcome him to our Board at this important time in the company’s evolution,” stated Adrian Gottschalk, Foghorn’s Chief Executive Officer. “Ian has been advising the company since early 2020 on various initiatives including business development and equity financing strategies as well as company progression and development. The addition of Ian to our Board brings significant business experience and capital formation expertise to our Company.”

“I believe in a precision biology approach that focuses on the cause of disease; Foghorn’s focus on the chromatin regulatory system and its causal role in a broad range of serious diseases has the potential to create significant therapeutic breakthroughs,” stated Mr. Smith. “I am pleased to join the Board and look forward to working with my fellow Board members, Adrian and the Foghorn leadership team.”

“We welcome Ian to the Foghorn Board,” stated Doug Cole, MD, Chairman of Foghorn’s Board of Directors. “His experience building valuable biotech businesses will help us to deliver on the enormous potential of drugs based on chromatin dysregulation.”

Mr. Smith is currently the Executive Chairperson of Viacyte, Inc. He was previously Chief Operating Officer at Vertex Pharmaceuticals, Inc. Prior to joining Vertex in 2001, Mr. Smith served as a partner in the Life Science and Technology Practice of the accounting firm Ernst & Young LLP. He also serves as Chairman of the Board of Solid Biosciences, as a board member of AavantiBio Inc., and as a Senior Advisor to Bain Capital Life Sciences.

About Foghorn Therapeutics

Foghorn^® Therapeutics is discovering and developing a novel class of medicines targeting genetically determined dependencies within the chromatin regulatory system. Through its proprietary scalable Gene Traffic Control^® platform, Foghorn is systematically studying, identifying and validating potential drug targets within the chromatin regulatory system. The company is developing multiple product candidates in oncology.

Forward-Looking Statements

This press release contains “forward-looking statements” regarding the Company’s approach to treating disease. Forward-Forward-looking statements include statements regarding the Company’s clinical trial, product candidates and research efforts and other statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risk regarding the timing of filing an IND for our product candidates and other factors set forth under the heading “Risk Factors” in the Company’s Form 10-K. Any forward-looking statement made in this press release speaks only as of the date on which it is made.

Media Contact:

Fanny Cavalié, Foghorn Therapeutics
fcavalie@foghorntx.com

Gregory Kelley, Ogilvy
gregory.kelley@ogilvy.com

Investor Relations Contact:

Allan Reine, Foghorn Therapeutics
areine@foghorntx.com

Hans Vitzthun, LifeSci Advisors
617-535-7743
hans@lifesciadvisors.com

FAQ

What is the significance of Ian Smith joining the Board of FHTX?

Ian Smith's appointment is significant as he brings extensive business and capital formation expertise, which could enhance Foghorn's growth and strategic direction.

When did Ian Smith join the Board of FHTX?

Ian Smith joined the Board of Foghorn Therapeutics on April 27, 2021.

What roles has Ian Smith held prior to joining FHTX's Board?

Prior to joining the Board, Ian Smith served as Executive Chairperson at Viacyte and held the position of COO at Vertex Pharmaceuticals.

How might Ian Smith's experience impact FHTX?

Ian Smith's experience in biotechnology may lead to innovative approaches and strategies that could enhance Foghorn's product development and business operations.