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ImmuneID Appoints Veteran Biotech Executive James S. Scibetta as CEO
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
ImmuneID, Inc. has appointed James S. Scibetta as the new CEO, succeeding David Donabedian, who will move to an advisory role. Scibetta, with over 20 years of biotech experience, previously led Maverick Therapeutics, acquired by Takeda in April 2021, and held executive roles at Pacira Pharmaceuticals and Bioenvision. Under Donabedian's leadership, ImmuneID raised over $70 million since its launch in Q4 2020. The company focuses on precision immunology, leveraging a proprietary platform for targeting immune diseases.
Positive
James S. Scibetta's appointment could bring fresh perspectives and strategic leadership to ImmuneID.
Scibetta has a strong background in biotech, having successfully raised funds and led product development in prior roles.
Negative
Transitioning leadership may raise concerns about continuity and any experience gaps within the current team.
Mr. Scibetta is an accomplished biotech executive who brings over 20 years of experience successfully leading life science companies from early-stage platform development through major value-generating milestones
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
ImmuneID, Inc., a precision immunology company employing a proprietary platform to identify and therapeutically target antibody interactions that drive immune diseases, today announced the appointment of James S. Scibetta as Chief Executive Officer and a member of the Board of Directors. Mr. Scibetta succeeds David Donabedian, Ph.D., Venture Partner of Longwood Fund, who had been serving as CEO and will serve in an advisory capacity to the Company.
James S. Scibetta, CEO of ImmuneID (Photo: Business Wire)
“Jim brings to ImmuneID a proven track record of developing advanced and promising science into therapeutic products that improve patient lives,” said Longwood Fund’s Christoph Westphal, M.D., Ph.D., ImmuneID co-founder and Board Chair. “He has demonstrated leadership in corporate strategy and capital formation, along with the establishment of collaborative, high-functioning teams across R&D, bioinformatics, CMC, and commercialization. Jim will be extremely valuable to ImmuneID as it continues to leverage its platform for applications related to diseases that implicate the human immune system, a disease area that is extraordinarily scientifically complex and for which there remains a significant unmet medical need.”
“On behalf of the entire board, I would like to thank David for his significant contributions to ImmuneID,” continued Dr. Westphal. “Under David’s leadership, the Company has raised over $70 million since its Q4 2020 launch, built out the scientific team, and secured state of the art lab space. I look forward to working further with David on the next Longwood portfolio company.”
“The human immune system is highly complex and is involved in a large percentage of human diseases,” Mr. Scibetta said. “The ImmuneID platform, developed in the lab of Lasker Award winner and Harvard professor Dr. Steve Elledge, has the ability to generate an unprecedented quantity of biologically relevant human immune response data. These proprietary capabilities, coupled with the emergence of big data analytics driven by AI and machine learning, have positioned ImmuneID to generate the next generation of precision immunology therapeutics for patients with autoimmune, allergy, cancer and infectious diseases.”
Mr. Scibetta joins ImmuneID after serving as CEO and a member of the Board of Directors of Maverick Therapeutics Inc., a biotechnology company pioneering conditionally active bispecific T-cell targeted immunotherapies that was acquired by Takeda in April 2021. In this role, he led Maverick in the development of the COBRA Platform, which co-opts proteolytic activity in the tumor microenvironment to generate localized t-cell activation and cell killing. Prior to Maverick, he held various executive leadership roles at Pacira Pharmaceuticals (Nasdaq: PCRX), including President, and previously CFO, overseeing global R&D, CMC, and capacity expansion activities for the development of their drug EXPAREL. He successfully led the company’s 2011 IPO and subsequent debt and equity financings. Previously, Mr. Scibetta served as CFO of Bioenvision Inc. (NASD: BVIN, acquired by Genzyme) and Merrimack Pharmaceuticals. Mr. Scibetta began his career in investment banking, spending over a decade sourcing and executing transactions for a range of public and private healthcare and life sciences companies. He received a B.S. in physics from Wake Forest University and an MBA from the University of Michigan.
About ImmuneID’s Platform and Technology
ImmuneID’s technology platform and the underlying technology is designed to provide insights into human immune response throughout the course of disease progression for the identification and validation of therapeutic targets. The technology was originally developed in the lab of Stephen Elledge, Ph.D., ImmuneID co-founder and Chair of ImmuneID SAB, Lasker Award winner and The Gregor Mendel Professor of Genetics and Medicine, Harvard Medical School.
About ImmuneID
ImmuneID is a precision immunology company creating novel and transformational therapies by combining powerful next-generation sequencing with robust protein display technologies to comprehensively characterize patient antibody interactions in immune diseases. Our proprietary, unbiased platform rapidly and affordably identifies millions of antibody-target interactions to build the map of human immunity. Through a combination of passionate bench science, insightful computational biology, and big data generation, ImmuneID will improve and personalize patient diagnoses to deliver precise treatments for immune-mediated diseases. Founded in late 2020 by Longwood Fund, ImmuneID is headquartered in Cambridge, MA. For more information, visit www.immuneidrx.com.
James S. Scibetta has been appointed as the new CEO of ImmuneID.
What were David Donabedian's contributions to ImmuneID?
David Donabedian led the company in raising over $70 million since its Q4 2020 launch and built the scientific team.
What is ImmuneID's primary focus?
ImmuneID focuses on precision immunology, targeting antibody interactions to develop therapies for immune diseases.
What experience does Scibetta bring to ImmuneID?
Scibetta has 20 years of biotech experience, previously serving as CEO of Maverick Therapeutics and holding executive roles at Pacira Pharmaceuticals.
What is the significance of ImmuneID's proprietary platform?
The proprietary platform aims to identify and therapeutically target antibody interactions driving immune diseases, addressing significant unmet medical needs.
