Passage Bio Welcomes Tom Kassberg to Board of Directors

Rhea-AI Summary

Passage Bio (Nasdaq: PASG) has appointed Tom Kassberg to its Board of Directors and Audit Committee. Kassberg, currently Chief Business Officer and Executive VP at Ultragenyx, brings extensive experience in strategic planning and corporate development. His background includes leadership roles at Proteolix, InterMune, Plexxikon, and SUGEN. Passage Bio CEO Will Chou highlighted Kassberg's expertise in advancing gene therapies for rare diseases, which aligns with the company's focus on neurodegenerative diseases. Kassberg expressed enthusiasm for joining Passage Bio, particularly noting the progress of the PBFT02 program and its potential expansion into additional indications.

Positive

• Appointment of Tom Kassberg, an experienced biotech executive, to the Board of Directors
• Kassberg's expertise in advancing gene therapies for rare diseases aligns with Passage Bio's focus
• Progress in the PBFT02 program and potential expansion into additional indications

Negative

• None.

PHILADELPHIA, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Passage Bio, Inc. (Nasdaq: PASG), a clinical stage genetic medicines company focused on improving the lives of patients with neurodegenerative diseases, today announced the appointment of Tom Kassberg to the Board of Directors and his appointment to the Audit Committee. Mr. Kassberg is currently Chief Business Officer and Executive Vice President at Ultragenyx, a biopharmaceutical company committed to bringing novel therapies to patients for the treatment of serious rare and ultrarare genetic diseases.

"We are pleased to welcome Tom Kassberg to the Passage Bio Board of Directors, where he will play an influential role in driving our mission forward during this critical time for the organization," said Will Chou, M.D., president and chief executive officer of Passage Bio. "Mr. Kassberg brings a wealth of experience from his time at Ultragenyx, where he leads business development and alliance management and has directly contributed to the company's success in advancing new treatments, including a number of gene therapies in late-stage development, for rare diseases. His deep understanding of strategic planning and corporate development make him exceptionally well-equipped to guide Passage Bio as we pursue PBFT02 across several neurodegenerative indications. We're thrilled to have him join our team."

Mr. Kassberg is a seasoned biotech executive with deep expertise in corporate development and strategic planning. Prior to his role at Ultragenyx, Mr. Kassberg served as Executive Vice President of Corporate Development at Proteolix, Inc, leading business development and strategic initiatives. Before that, he was Senior Vice President of Corporate Development and Commercial Operations at InterMune, Inc. Mr. Kassberg co-founded Plexxikon, where he led business and corporate development, and earlier, was Senior Director of Business Development and Corporate Licensing at SUGEN, where he played a key role during its acquisition by Pharmacia. His career began at Bristol Myers Squibb in strategic planning, managed care sales and financial analysis.

"I am excited to join the Passage Bio Board of Directors and contribute to the continued growth of the company,” said Mr. Kassberg. “The remarkable progress of the PBFT02 program and opportunity to expand into additional indications highlight Passage Bio’s dedication to making a critical impact in the field of neurodegenerative diseases. I look forward to collaborating with this exceptional team to drive forward our promising treatments and make a meaningful impact on the lives of patients and their families."

Mr. Kassberg earned a B.A. in economics and management from Gustavus Adolphus College and an M.B.A. from Northwestern University’s Kellogg School of Management.

About Passage Bio
Passage Bio (Nasdaq: PASG) is a clinical stage genetic medicines company on a mission to improve the lives of patients with neurodegenerative diseases. Our primary focus is the development and advancement of cutting-edge, one-time therapies designed to target the underlying pathology of these conditions. Passage Bio’s lead product candidate, PBFT02, seeks to treat neurodegenerative conditions, including frontotemporal dementia, by elevating progranulin levels to restore lysosomal function and slow disease progression. 
To learn more about Passage Bio and our steadfast commitment to protecting patients and families against loss in neurodegenerative conditions, please visit: www.passagebio.com.

For further information, please contact:

Investors:
Stuart Henderson
Passage Bio
267.866.0114
shenderson@passagebio.com

Media:
Mike Beyer
Sam Brown Inc. Healthcare Communications
312.961.2502
MikeBeyer@sambrown.com 

FAQ

Who is the new board member appointed to Passage Bio (PASG)?

Tom Kassberg, currently Chief Business Officer and Executive VP at Ultragenyx, has been appointed to Passage Bio's Board of Directors and Audit Committee.

What experience does Tom Kassberg bring to Passage Bio (PASG)?

Tom Kassberg brings extensive experience in strategic planning, corporate development, and advancing gene therapies for rare diseases from his roles at Ultragenyx, Proteolix, InterMune, Plexxikon, and SUGEN.

What is the focus of Passage Bio (PASG) in terms of drug development?

Passage Bio focuses on developing genetic medicines for neurodegenerative diseases, with their PBFT02 program being a key area of progress and potential expansion.

How might Tom Kassberg's appointment impact Passage Bio's (PASG) future strategy?

Kassberg's expertise in advancing gene therapies and strategic planning is expected to guide Passage Bio in pursuing PBFT02 across several neurodegenerative indications and drive the company's growth.