Kalaris Expands Board of Directors Appointing Leone Patterson as Chair of Audit Committee

Rhea-AI Summary

Kalaris Therapeutics (NASDAQ: KLRS), a clinical-stage biopharmaceutical company focused on retinal disease treatments, has appointed Leone Patterson to its Board of Directors and as Chair of the Board's Audit Committee. Patterson currently serves as Executive Vice President, Chief Business Officer and Chief Financial Officer at Zymeworks, managing corporate finance, business development, and operations.

Patterson brings extensive biotech industry experience, having previously held leadership positions at Tenaya Therapeutics as Chief Financial and Business Officer, and at Adverum Biotechnologies as CFO, President, CEO, and Director. Her career includes senior finance roles at Diadexus, Transcept, Exelixis, Novartis, and Chiron, as well as experience in KPMG's audit practice. She holds a B.S. in business administration and accounting from Chapman University and an executive MBA from St. Mary's College.

Positive

• Appointment of highly experienced biotech executive with strong financial and operational expertise
• Addition of leader with extensive public company CFO and CEO experience
• Strengthened board oversight with experienced audit committee chair

Negative

• None.

Highly experienced biotech executive and board member will assist Kalaris in achieving its next phase of growth

PALO ALTO, Calif., April 04, 2025 (GLOBE NEWSWIRE) -- Kalaris Therapeutics, Inc. (Nasdaq: KLRS) (“Kalaris”), a clinical-stage biopharmaceutical company dedicated to the development and commercialization of treatments for prevalent retinal diseases, today announced the appointment of Leone Patterson to its Board of Directors and as Chair of the Board’s Audit Committee.

“We’re delighted to welcome Leone as Chair of the Board’s Audit Committee,” said David Hallal, Chairman of the Kalaris Board of Directors. “Leone is joining us at the pinnacle of her career as a senior financial executive in biotech with strong strategic and operational capabilities. Leone will be an outstanding addition to our Board of Directors. We look forward to her contributions and expertise as we continue to develop and grow Kalaris.”

Leone Patterson said, “I am thrilled to join Kalaris Therapeutics’ Board of Directors. The company’s lead asset along with its experienced management team and Board, represent a significant opportunity to evolve the treatment paradigm in retinal diseases.”

Ms. Patterson serves as Zymeworks’ Executive Vice President, Chief Business Officer and Chief Financial Officer where she is responsible for corporate finance and accounting, business development and other operational functions. Ms. Patterson previously served as Chief Financial and Business Officer at Tenaya Therapeutics where she led corporate finance, investor relations, corporate communications, strategy and business development teams as well as other operational functions. Prior to Tenaya, she held leadership positions at Adverum Biotechnologies including Chief Financial Officer, President, Chief Executive Officer and Director. She also has held senior finance positions at Diadexus, Transcept, Exelixis, Novartis, and Chiron. Earlier in her career she worked in the audit practice of KPMG. Ms. Patterson currently serves on the board of directors of Nkarta, Inc. She earned a B.S. in business administration and accounting from Chapman University and an executive MBA from St. Mary’s College.

About Kalaris

Kalaris is a clinical-stage biopharmaceutical company dedicated to the development and commercialization of treatments for prevalent retinal diseases. The company is focused on development of TH103, a novel, differentiated anti-VEGF investigational therapy. Developed by Dr. Napoleone Ferrara, TH103 is a fully humanized, recombinant fusion protein that acts against VEGF as a decoy receptor and has been specifically engineered for potentially improved VEGF inhibition and longer retention in the retina. TH103 is currently being evaluated in an ongoing, Phase 1 clinical trial for the treatment of neovascular Age-related Macular Degeneration (nAMD), with plans to develop TH103 for additional neovascular and exudative diseases of the retina such as Diabetic Macular Edema (DME), and Retinal Vein Occlusion (RVO).

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risk and uncertainties.

All statements, other than statements of historical fact, contained in this press release, including statements regarding the strategy, future operations, prospects, plans and objectives of management of Kalaris, including the therapeutic potential of TH103, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on current expectations and beliefs of the management of Kalaris as well as assumptions made by, and information currently available to, the management of Kalaris and are subject to risks and uncertainties. There can be no assurance that future developments affecting Kalaris will be those that it has anticipated. Forward-looking statements include, but are not limited to, statements concerning the following: the future operations of Kalaris, including research and development activities; the nature, strategy and focus of Kalaris; the development and commercial potential and potential benefits of any product candidate of Kalaris, including expectations around intellectual property protection; anticipated clinical drug development activities and related timelines, including the expected timing for announcement of data and other clinical results; the uncertainties associated with Kalaris’ product candidate, as well as risks associated with the clinical development and regulatory approval of its product candidate, including potential delays in the completion of clinical trials; expectations regarding the therapeutic benefits, clinical potential and clinical development of TH103; risks related to the inability of Kalaris to obtain sufficient additional capital to continue to advance its product candidate; uncertainties in obtaining successful clinical results for product candidates and unexpected costs that may result therefrom; risks related to the failure to realize any value from any product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; the ability to obtain, maintain, and protect intellectual property rights related to product candidates; changes in regulatory requirements and government incentives; Kalaris’ competitive position and expectations regarding developments and projections relating to its competitors and any competing therapies that are or become available; potential adverse reactions or changes to business relationships resulting from the completion of the merger with AlloVir, Inc.; risks associated with the possible failure to realize, or that it may take longer to realize than expected, certain anticipated benefits of the merger, including with respect to future financial and operating results; the risk of involvement in current and future litigation, including securities class action litigation, that could divert the attention of the management of Kalaris, harm Kalaris’ business and for which Kalaris may not have sufficient insurance coverage to cover all costs and damages; and such other factors as are set forth in Kalaris’ public filings with the SEC, including, but not limited to, those described under the heading “Risk Factors”.

Kalaris may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on its forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Kalaris makes. The forward-looking statements contained in this press release are made as of the date of this press release, and Kalaris does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Kalaris Therapeutics Investor Contact:

Corey Davis, Ph.D.

LifeSci Advisors, LLC

+1 212 915 2577

cdavis@lifesciadvisors.com

ir@kalaristx.com

FAQ

What role has Leone Patterson taken at Kalaris Therapeutics (KLRS)?

Leone Patterson has been appointed to Kalaris Therapeutics' Board of Directors and will serve as Chair of the Board's Audit Committee.

What is Leone Patterson's current executive position outside of KLRS?

She serves as Executive Vice President, Chief Business Officer and Chief Financial Officer at Zymeworks, managing corporate finance, business development, and operations.

What is Kalaris Therapeutics' (KLRS) main business focus?

Kalaris is a clinical-stage biopharmaceutical company dedicated to developing and commercializing treatments for prevalent retinal diseases.

What relevant experience does Leone Patterson bring to KLRS board?

Patterson brings extensive biotech executive experience, including leadership roles at Tenaya Therapeutics, Adverum Biotechnologies, and senior finance positions at multiple biotech companies.