Seres Therapeutics Appoints Paula Cloghessy as Executive Vice President, Chief People Officer

Rhea-AI Summary

Seres Therapeutics, Inc. (Nasdaq: MCRB) announced the appointment of Paula Cloghessy as Executive Vice President and Chief People Officer effective February 7, 2022. Her extensive 20+ years in HR within biotechnology and pharmaceuticals aims to enhance the company’s culture and support its growth, particularly in advancing SER-109 towards FDA approval. Cloghessy emphasizes talent development and employee engagement, ensuring a positive work environment. This strategic hiring comes as Seres continues its pioneering efforts in microbiome therapeutics.

Positive

• Appointment of Paula Cloghessy as Chief People Officer expected to strengthen team dynamics.
• Cloghessy's extensive HR experience in biotech can enhance employee engagement and culture.
• Focus on advancing SER-109 towards potential FDA approval, signaling growth opportunities.

Negative

• Uncertain profitability and the need for additional funding remain concerns.
• Dependence on third-party collaborations for clinical trials and product development introduces risks.

Cloghessy to focus on supporting an inclusive culture and the Company’s continued growth trajectory

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Seres Therapeutics, Inc. (Nasdaq: MCRB), a leading microbiome therapeutics company, announced today that Paula Cloghessy, SPHR, SHRM-SCP, has joined Seres as Executive Vice President, Chief People Officer effective February 7, 2022, reporting directly to Eric Shaff, President and Chief Executive Officer.

“Paula joins the Seres leadership team at a pivotal time of growth. Her team-building expertise will be invaluable as we advance SER-109 toward what we expect to be the Company’s first FDA drug approval, while expanding Seres’ pipeline toward additional opportunities in Infection Protection and other diseases that we believe are well suited for our microbiome therapeutic approach,” said Shaff.

Cloghessy brings to Seres more than 20 years of human resources expertise with broad business experience leading human resources organizations in the biotechnology and pharmaceutical industries, including a successful track record of translating organizational objectives into dynamic HR programs and infrastructure. She most recently served as Chief People Officer at Translate Bio, Inc., where she led the talent architecture and people strategy. Throughout her career in biotech, Cloghessy has strived to prioritize the employee environment with an emphasis on curating talent and fostering an adaptive and inclusive culture. Prior to Translate, she served as vice president of human resources at Joule Unlimited Technologies, Inc. She has also held human resources positions at Interleukin Genetics, Inc. and NUCRYST Pharmaceuticals, Inc.

“Behind the incredible science at Seres are the talented and committed professionals dedicated to driving our efforts in Infection Protection forward for patients. I’m excited for the opportunity to help oversee and support the continued growth of the top-flight Seres team,” Cloghessy said. “Seres has a strong, proud culture that supports employee satisfaction, and I look forward to ensuring employees continue to feel supported by expanding our talent development and engagement programs while continuing to add stellar candidates to our workforce.”

Cloghessy holds a B.A. in psychology from the University of Massachusetts Boston and senior human resources certifications including SPHR and SHRM-SCP.

About Seres Therapeutics
Seres Therapeutics, Inc. (Nasdaq: MCRB) is a leading microbiome therapeutics company developing a novel class of multifunctional bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease. Seres’ SER-109 program achieved the first-ever positive pivotal clinical results for a targeted microbiome drug candidate and has obtained Breakthrough Therapy and Orphan Drug designations from the FDA. The SER-109 program is being advanced to reduce the recurrence of C. difficile infection and has potential to become a first-in-class FDA-approved microbiome therapeutic. Seres is evaluating SER-301 in a Phase 1b study in patients with ulcerative colitis and SER-155 in a Phase 1b study in patients receiving allogeneic hematopoietic stem cell transplantation to prevent bloodstream infections and graft-versus-host disease.
For more information, please visit www.serestherapeutics.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including Cloghessy’s employment and appointment and the anticipated impact thereof, the potential approval of SER-109 and its status as a first-in-class therapeutic, the potential of microbiome therapeutics to treat and prevent disease, and other statements which are not historical fact.

These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: we have incurred significant losses, are not currently profitable and may never become profitable; our need for additional funding; our limited operating history; the impact of the COVID-19 pandemic; our unproven approach to therapeutic intervention; the lengthy, expensive and uncertain process of clinical drug development; our reliance on third parties and collaborators to conduct our clinical trials, manufacture our product candidates and develop and commercialize our product candidates, if approved; and our ability to retain key personnel and to manage our growth. These and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, or SEC, on November 10, 2021, and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220208005335/en/

PR

Kristin Ainsworth

kainsworth@serestherapeutics.com

IR

Carlo Tanzi, Ph.D.

ctanzi@serestherapeutics.com

Source: Seres Therapeutics, Inc.

FAQ

Who is Paula Cloghessy and what is her role at MCRB?

Paula Cloghessy is the new Executive Vice President and Chief People Officer at Seres Therapeutics, appointed on February 7, 2022.

What is the significance of Paula Cloghessy's appointment for MCRB?

Her appointment is anticipated to enhance company culture and support growth initiatives, especially in advancing SER-109.

What is SER-109 and why is it important for MCRB?

SER-109 is a microbiome therapeutic currently in development, expected to be Seres' first FDA-approved treatment.

What challenges does MCRB currently face?

Challenges include uncertainty regarding profitability and reliance on third parties for clinical trials and product development.