Intellia Therapeutics Names Bill Chase to its Board of Directors

Rhea-AI Summary

Intellia Therapeutics (NASDAQ:NTLA) announced the appointment of Bill Chase to its board of directors, effective immediately. Chase will also chair the audit committee, succeeding Caroline Dorsa, who is retiring on June 15, 2023, following her appointment as chair of Biogen's board. Bill Chase has over 30 years of experience in financial management, having served as CFO at AbbVie and held various roles at Abbott. This leadership change is aimed at strengthening Intellia's governance as it advances its CRISPR-based therapies into late-stage clinical development. CEO John Leonard emphasized Chase's financial acumen as a valuable asset in the company's mission to develop novel gene therapies.

Positive

• Appointment of Bill Chase enhances board leadership with extensive financial expertise.
• Chase's background strengthens the company's strategic direction in advancing CRISPR therapies.

Negative

• Retirement of Caroline Dorsa may create continuity concerns in governance.

CAMBRIDGE, Mass., April 17, 2023 (GLOBE NEWSWIRE) -- Intellia Therapeutics, Inc. (NASDAQ:NTLA), a leading clinical-stage genome editing company focused on developing potentially curative therapies leveraging CRISPR-based technologies, today announced the appointment of Bill Chase, MBA, to its board of directors. Mr. Chase will be a member of the audit committee and will succeed Caroline Dorsa as chair of the audit committee upon her retirement from the board. Ms. Dorsa is retiring from Intellia’s board, effective June 15, 2023, as a result of her appointment as chair of Biogen’s board of directors.

“Bill’s extensive track record as an experienced financial and business leader makes him a valuable addition to our board, as we continue to shape the future of genomic medicines and advance our first investigational CRISPR-based therapies into late-stage clinical development,” said Intellia President and Chief Executive Officer John Leonard, M.D. “All of us at Intellia thank Caroline for her dedicated service and many contributions to Intellia’s growth and success and wish her much success in her future endeavors.”  

Mr. Chase has over three decades of strategic and financial management experience at leading life science companies. He previously served as executive vice president and chief financial officer of AbbVie, following the company’s successful spinout from Abbott Laboratories, in 2012 until 2018. He then went on to serve as executive vice president, Finance and Administration from October 2018 to July 2019.

Prior to his tenure at AbbVie, Mr. Chase spent almost 25 years in financial management positions of increasing seniority at Abbott, including corporate vice president, Licensing & Acquisitions; corporate vice president and treasurer; and divisional vice president and controller of Abbott International. He also serves on the board of Parexel International, one of the industry’s largest clinical research organizations. Mr. Chase holds a bachelor’s degree in finance from the University of Illinois and a Master of Business Administration from the University of Chicago Booth School of Business.

About Intellia Therapeutics

Intellia Therapeutics, a leading clinical-stage genome editing company, is developing novel, potentially curative therapeutics using CRISPR/Cas9 technology. To fully realize the transformative potential of CRISPR/Cas9, Intellia is pursuing two primary approaches. The company’s in vivo programs use intravenously administered CRISPR as the therapy, in which proprietary delivery technology enables highly precise editing of disease-causing genes directly within specific target tissues. Intellia’s ex vivo programs use CRISPR to create the therapy by using engineered human cells to treat cancer and autoimmune diseases. Intellia’s deep scientific, technical and clinical development experience, along with its robust intellectual property portfolio, have enabled the company to take a leadership role in harnessing the full potential of CRISPR/Cas9 to create new classes of genetic medicine. Learn more at intelliatx.com. Follow us on Twitter @intelliatx.

Forward-Looking Statements

This press release contains “forward-looking statements” of Intellia Therapeutics, Inc. (“Intellia”, “we” or “our”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding Intellia’s beliefs and expectations regarding the safety, efficacy and advancement of our clinical programs and the anticipated contribution of the members of our board of directors, specifically Bill Chase, and our executives to our operations and progress.

Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that any one or more of our product candidates, including those that are co-developed, will not be successfully developed and commercialized, including risks related to the authorization, initiation and conduct of studies and other development requirements for our product candidates such as advancing CRISPR-based therapies into late-stage clinical development; the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies; risks related to our relationship with third parties, including our licensors, licensees and other collaborators; and risks related to our, and our licensors’, ability to protect and maintain our intellectual property position. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Intellia’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Intellia’s most recent annual report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in Intellia’s other filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Intellia undertakes no duty to update this information unless required by law.

Intellia Contacts:

Investors:
Ian Karp
Senior Vice President, Investor Relations and Corporate Communications
+1-857-449-4175
ian.karp@intelliatx.com

Lina Li
Senior Director, Investor Relations and Corporate Communications
+1-857-706-1612
lina.li@intelliatx.com

Media:
Rebecca Spalding
Ten Bridge Communications
+1-646-509-3831
media@intelliatx.com
rebecca@tenbridgecommunications.com 

FAQ

What is the significance of Bill Chase's appointment to Intellia's board?

Bill Chase brings over 30 years of financial leadership experience, which is expected to enhance Intellia's governance and strategic direction.

When will Caroline Dorsa retire from Intellia's board?

Caroline Dorsa will retire effective June 15, 2023.

How might Bill Chase's experience benefit Intellia Therapeutics?

Chase's extensive background in financial management at leading life sciences companies may strengthen Intellia's oversight and support its clinical development efforts.

What is the background of Bill Chase before joining Intellia's board?

Bill Chase previously served as executive vice president and CFO of AbbVie and held various senior roles at Abbott, focusing on financial and strategic management.

How does the board change affect Intellia's future?

The board change may lead to improved financial governance and strategic decision-making as Intellia advances its CRISPR-based therapies.