Peter Svennilson Elected to RAPT Therapeutics Board of Directors
RAPT Therapeutics (Nasdaq: RAPT) has appointed Peter Svennilson to its Board of Directors, replacing David Goeddel, who opted not to seek reelection. Svennilson, Managing Partner at The Column Group, has been involved with RAPT for several years and will provide strategic insights and guidance. His appointment comes as RAPT anticipates proof-of-concept data for its drug candidates, FLX475 and RPT193, expected within the year. RAPT focuses on developing small molecule therapies to address significant unmet needs in oncology and inflammatory diseases.
- Peter Svennilson's extensive experience in biotechnology and venture capital could enhance the strategic direction of RAPT.
- The expected proof-of-concept data for FLX475 and RPT193 this year could positively impact RAPT’s market positioning.
- David Goeddel's departure may create continuity concerns within the Board.
SOUTH SAN FRANCISCO, Calif., June 18, 2020 (GLOBE NEWSWIRE) -- RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases, today announced the election of Peter Svennilson, Managing Partner of The Column Group, to its Board of Directors. Mr. Svennilson will replace David Goeddel, Ph.D., who did not stand for reelection to RAPT’s Board of Directors due to other responsibilities, but will remain a member of RAPT’s Scientific Advisory Board (SAB).
“Peter has been integrally involved with RAPT over the course of the last several years, helping to steer our strategic direction and expanding our network within the industry, and we welcome his consistent counsel as an active Board member moving forward,” said Brian Wong, M.D., Ph.D., President and CEO of RAPT Therapeutics. “On behalf of the Board and the entire Company, I’d like to thank David for his guidance and strategic direction, as well as his mentorship over the course of the last five years. We very much appreciate his contributions and are thrilled he will continue his involvement with RAPT through our SAB.”
Mr. Svennilson was elected to the Board of Directors at RAPT’s Annual Stockholder Meeting on Thursday, June 18, 2020. He is currently Managing Partner and Founder of The Column Group, a San Francisco-based biotechnology venture capital firm. Prior to founding The Column Group, Mr. Svennilson founded Three Crowns Capital, where he served as Managing Partner, and before that was Associate Managing Director in charge of European Investment Banking Origination at Nomura Securities in London. In addition to serving on RAPT’s Board of Directors, Mr. Svennilson serves on the Boards of Directors of ORIC Pharmaceuticals, Inc., Ribon Therapeutics, Circle Pharma and Revolution Medicines, Inc. Previously, he served as Chairman of the Board of Directors of Seragon Pharmaceuticals, Inc. and Aragon Pharmaceuticals, Inc. Mr. Svennilson also served as a member of the Boards of Directors of Gritstone Oncology, Inc., Constellation Pharmaceuticals, Inc., NGM Biopharmaceuticals, Inc., PTC Therapeutics, Inc., Immune Design, Rosetta Inpharmatics LLC, ChemoCentryx, Inc. and Somalogic, Inc. and as Board Observer of Arcus Biosciences. Mr. Svennilson is currently a Trustee for The Institute for Advanced Study in Princeton, New Jersey. He received his M.B.A. from the Stockholm School of Economics and Finance.
“I’m delighted to join the Board of Directors at this exciting time in RAPT’s history,” commented Mr. Svennilson. “With proof-of-concept data expected for both FLX475 and RPT193 this year and a robust early-stage portfolio of small molecules advancing through development, the Company is poised for growth. I look forward to working with the experienced management team to support the Company’s evolution and advancement across a number of segments and therapeutic areas within our industry.”
About RAPT Therapeutics, Inc.
RAPT Therapeutics is a clinical stage immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases. Utilizing its proprietary discovery and development engine, the Company is developing highly selective small molecules designed to modulate the critical immune drivers underlying these diseases. RAPT has discovered and advanced two unique drug candidates, FLX475 and RPT193, each targeting C-C motif chemokine receptor 4 (CCR4), for the treatment of cancer and inflammation, respectively. The Company is also pursuing a range of targets, including hematopoietic progenitor kinase 1 (HPK1) and general control nonderepressible 2 (GCN2), that are in the discovery stage of development.
Forward-Looking Statements
This press release contains forward-looking statements. These statements relate to future events and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future performances or achievements expressed or implied by the forward-looking statements. Each of these statements is based only on current information, assumptions and expectations that are inherently subject to change and involve a number of risks and uncertainties. Forward-looking statements include, but are not limited to, statements about clinical development progress and the timing of results from clinical trials of FLX475 and RPT193. Detailed information regarding risk factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in RAPT’s Form 10-Q filed with the Securities and Exchange Commission on May 14, 2020 and subsequent filings made by RAPT with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. RAPT disclaims any obligation to update these forward-looking statements.
Media Contact:
Angela Bitting
media@rapt.com
(925) 202-6211
Investor Contact:
Sylvia Wheeler
swheeler@wheelhouselsa.com
FAQ
Who is Peter Svennilson and what is his role at RAPT?
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