Foghorn Therapeutics Appoints Lynne Parshall to its Board of Directors

Rhea-AI Summary

Foghorn Therapeutics (Nasdaq: FHTX) announced the election of B. Lynne Parshall to its Board as the Chair of the Audit Committee. With nearly 30 years in biotechnology and experience at Ionis Pharmaceuticals, her leadership is expected to bolster Foghorn's growth. CEO Adrian Gottschalk emphasized that her track record in therapy development will be pivotal as the company works towards its vision of a fully-integrated biotech. Parshall will play a crucial role in advancing key clinical programs, including FHD-286 and FHD-609.

Positive

• B. Lynne Parshall brings nearly 30 years of experience in biotechnology, adding valuable expertise to Foghorn's leadership.
• Her previous role as CFO and COO at Ionis Pharmaceuticals led to the company growing into a multibillion-dollar entity, suggesting potential for similar growth at Foghorn.
• The appointment comes at a crucial time, with ongoing clinical programs like FHD-286 and FHD-609 that could enhance Foghorn's pipeline.

Negative

• None.

CAMBRIDGE, Mass., Aug. 17, 2022 (GLOBE NEWSWIRE) -- Foghorn^® Therapeutics Inc. (Nasdaq: FHTX), a clinical stage biotechnology company pioneering a new class of medicines that modulate gene expression through selectively targeting the chromatin regulatory system, today announced the election of B. Lynne Parshall, Esq., to its Board of Directors and appointment as Chair of the Audit Committee.

“I am thrilled to welcome Lynne to our Board at this exciting time for Foghorn as we continue to make important progress towards our goal of becoming a fully-integrated biotech company,” said Foghorn CEO Adrian Gottschalk. “Her track record of bringing new therapies to patients and successfully guiding biotechnology companies through significant growth will be valuable for Foghorn.”

Ms. Parshall brings nearly three decades of experience in finance and operations in the biotechnology industry. She currently serves as the Senior Strategic Advisor for Ionis Pharmaceuticals. At Ionis, as chief financial officer and chief operating officer, Ms. Parshall was responsible for driving the strategy that led to Ionis’ growth into a multibillion-dollar company. Ms. Parshall currently serves on the Boards of Directors of Ionis, Cytokinetics, Repertoire Immune Medicines, and Ring Therapeutics. Ms. Parshall started her career by practicing law at Cooley LLP and remains a member of the American and California Bar Associations. Ms. Parshall holds a B.A. from Harvard University and a J.D. from Stanford Law School.

Doug Cole, M.D., Flagship Pioneering Managing Partner, Foghorn Co-Founder and Chairman of the Board, continued, “We are excited to welcome Lynne to the Foghorn Board. Her deep experience - building, operating, and providing guidance to a range of biotechnology companies - will be invaluable to Foghorn. We look forward to working with Lynne as we continue to scale the company with the ultimate goal of offering hope to the millions of people with cancer and other diseases.”  

“I am excited to be joining the board of Foghorn at this pivotal time with a deep pipeline and two programs, FHD-286 and FHD-609, in the clinic,” said Ms. Parshall. “I look forward to working with the other members of the board and the entire Foghorn team during this important stage of Foghorn’s growth.”

About Foghorn Therapeutics

Foghorn^® Therapeutics Inc. 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. Visit our website at www.foghorntx.com for more information on the company, and follow us on Twitter and LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” regarding the Company’s growth and its goal of becoming a fully-integrated biotech company. Forward-looking statements include statements regarding the Company’s clinical trials, 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 risks relating to our clinical trials and other factors set forth under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made.

Contact:

Ben Strain, Foghorn Therapeutics Inc. (Media and Investors)
bstrain@foghorntx.com

Karin Hellsvik, Foghorn Therapeutics Inc. (Media)
khellsvik@foghorntx.com

Michael Lampe, ScientPR (Media)
michael@scientpr.com

Hans Vitzthum, LifeSci Advisors (Investors)
hans@lifesciadvisors.com 

FAQ

Who is B. Lynne Parshall, and what will her role be at Foghorn Therapeutics?

B. Lynne Parshall is the newly elected Chair of the Audit Committee at Foghorn Therapeutics, bringing extensive experience in biotechnology and finance.

What experience does B. Lynne Parshall have in the biotechnology industry?

Parshall has nearly three decades of experience in the biotech field, including leadership roles at Ionis Pharmaceuticals, where she helped grow the company significantly.

What is the significance of Foghorn Therapeutics' chairmanship change?

The appointment of B. Lynne Parshall is seen as a strategic move to enhance governance and leverage her experience to guide Foghorn's growth and clinical initiatives.

What clinical programs is Foghorn Therapeutics currently developing?

Foghorn Therapeutics is currently focused on advancing its clinical programs, specifically FHD-286 and FHD-609.