Foghorn Therapeutics Strengthens Leadership Team with Appointment of Anna Rivkin, Ph.D. as Chief Business Officer

Rhea-AI Summary

Foghorn Therapeutics (Nasdaq: FHTX) has appointed Anna Rivkin, Ph.D., as Chief Business Officer effective September 3, 2024. Dr. Rivkin brings over 20 years of experience in complex business transactions across multiple disease areas. Previously, she held leadership roles at Bristol Myers Squibb, overseeing strategic transactions as Vice President of Business Development. Dr. Rivkin has led transactions valued at over $35 billion, including the $14 billion purchase of Karuna Therapeutics and the $13 billion purchase of MyoKardia Therapeutics.

Foghorn, a clinical-stage biotechnology company, focuses on developing medicines that correct abnormal gene expression to treat serious diseases. The company views Dr. Rivkin's appointment as strategic for leveraging its pipeline and platform potential during its growth phase.

Positive

• Appointment of Anna Rivkin, Ph.D., as Chief Business Officer, bringing over 20 years of industry experience
• Dr. Rivkin's expertise in strategic alliances, R&D partnerships, in-licensing, and M&A
• Dr. Rivkin's track record of leading transactions valued at over $35 billion
• Potential strengthening of Foghorn's business development efforts

Negative

• None.

News Market Reaction

-5.19%

1 alert

-5.19% News Effect

On the day this news was published, FHTX declined 5.19%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CAMBRIDGE, Mass., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Foghorn® Therapeutics Inc. (Nasdaq: FHTX), a clinical-stage biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression, today announced that Anna Rivkin, Ph.D., will join the company as Chief Business Officer (CBO), on September 3, 2024. Dr. Rivkin brings over two decades of expertise in a broad spectrum of complex business transactions across multiple disease areas.

“We have significant potential in our pipeline and platform as we continue to build Foghorn," said Adrian Gottschalk, President and Chief Executive Officer of Foghorn. “During this exciting stage of growth, we are delighted to welcome Anna as our Chief Business Officer. Anna brings significant industry experience in establishing strategic alliances, R&D partnerships, in-licensing and M&A which will position us for success in our future business development efforts.”

Before joining Foghorn, Anna most recently held leadership roles at Bristol Myers Squibb (BMS) where she successfully oversaw strategic transactions across immunology, neuroscience, and cardiovascular disease as the Vice President of Business Development.

Anna Rivkin, Ph.D., Chief Business Officer of Foghorn Therapeutics added, “Foghorn is leading the discovery and development of multiple novel therapeutics targeting the chromatin regulatory system with significant opportunities across cancer types that have yet to be unlocked. I look forward to partnering with the team to realize the full potential of Foghorn’s pipeline and unique platform.”

As a seasoned business development executive, Dr. Rivkin has spearheaded transactions that are cumulatively valued at over $35 billion across a broad spectrum of deal types in multiple therapeutic areas. She brings deep industry knowledge and a proven track record of leading teams to successfully navigate complex business transactions. As Vice President of Business Development at BMS, Dr. Rivkin helped evolve the BMS pipeline including leading high-impact deals such as the $14 billion purchase of Karuna Therapeutics and the $13 billion purchase of MyoKardia Therapeutics. Prior to BMS, she worked at Merck & Co., holding a number of roles of increasing responsibilities in business development and clinical research. She received her Ph.D. in neuroscience from Case Western Reserve University and holds a B.A. from Johns Hopkins University.

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. Visit our website at www.foghorntx.com for more information on the Company, and follow us on X (formerly Twitter) and LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements.” 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, 2023, 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.

Contacts:
Karin Hellsvik, Foghorn Therapeutics Inc.
khellsvik@foghorntx.com

FAQ

When will Anna Rivkin join Foghorn Therapeutics (FHTX) as Chief Business Officer?

Anna Rivkin, Ph.D., will join Foghorn Therapeutics (FHTX) as Chief Business Officer on September 3, 2024.

What is Anna Rivkin's background before joining Foghorn Therapeutics (FHTX)?

Before joining Foghorn Therapeutics (FHTX), Anna Rivkin held leadership roles at Bristol Myers Squibb, most recently as Vice President of Business Development. She also worked at Merck & Co. in business development and clinical research roles.

What major deals has Anna Rivkin been involved with prior to joining Foghorn Therapeutics (FHTX)?

Anna Rivkin has led high-impact deals including the $14 billion purchase of Karuna Therapeutics and the $13 billion purchase of MyoKardia Therapeutics while at Bristol Myers Squibb.

What is Foghorn Therapeutics' (FHTX) main focus as a biotechnology company?

Foghorn Therapeutics (FHTX) is a clinical-stage biotechnology company focused on developing a new class of medicines that treat serious diseases by correcting abnormal gene expression, particularly targeting the chromatin regulatory system.