Tourmaline Bio Announces the Promotion of Ryan Robinson to Chief Financial Officer

Rhea-AI Summary

Tourmaline Bio announced the promotion of Ryan Robinson, CPA, to Chief Financial Officer and Treasurer, effective June 25, 2024. Robinson has been with Tourmaline since last summer and has served as the Interim CFO and Treasurer since October 2023. He played a key role in Tourmaline's growth, including a reverse merger in October 2023 and a $172.5 million public offering in January 2024. Robinson brings nearly 15 years of biotech finance and operations experience, having worked at Korro Bio, Jounce Therapeutics, and Merrimack Pharmaceuticals. He holds a B.S. in Management and an M.S. in Accounting from Boston College and is a CPA.

Positive

• Promotion of Ryan Robinson to Chief Financial Officer and Treasurer, effective June 25, 2024.
• Robinson played a important role in Tourmaline’s reverse merger in October 2023 and the $172.5 million public offering in January 2024.
• Robinson has nearly 15 years of finance and operations experience in the biotech industry.

Negative

• None.

NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Tourmaline Bio, Inc. (Tourmaline) (NASDAQ: TRML), a late-stage clinical biotechnology company developing transformative medicines to dramatically improve the lives of patients with life-altering immune and inflammatory diseases, today announced the promotion of Ryan Robinson, CPA, to Chief Financial Officer and Treasurer, effective June 25, 2024. Mr. Robinson most recently held the role of Vice President, Finance and Controller at Tourmaline, in addition to serving as Tourmaline’s Interim Chief Financial Officer and Treasurer since October 2023.

“Ryan has been instrumental in Tourmaline’s rapid growth over the last year, building a top-flight finance organization and executing on our reverse merger in October 2023, through which we became a public company, as well as our $172.5 million follow-on public offering in January 2024,” said Sandeep Kulkarni, MD, Co-Founder and Chief Executive Officer of Tourmaline. “Ryan’s financial acumen, collaborative working style, and disciplined approach to capital deployment are a strong complement to Tourmaline’s mission as we continue to realize the ‘pipelines in a product’ potential of TOUR006.”

“I am honored to take on the role of Chief Financial Officer at Tourmaline, where I have been privileged to work alongside world-class colleagues since joining last summer,” said Mr. Robinson. “I look forward to continuing our work to bring potentially standard-of-care changing medicines to millions of patients worldwide, where significant unmet medical need persists in both immune disorders and cardiovascular disease.”

Mr. Robinson has nearly 15 years of finance and operations experience within the biotechnology industry. Before joining Tourmaline, Mr. Robinson served as Vice President of Finance and Treasurer at Korro Bio, a publicly-traded company focused on RNA editing. Prior to Korro Bio, Mr. Robinson served as the Corporate Controller for Jounce Therapeutics, a publicly-traded immunotherapy company. Mr. Robinson also worked at Merrimack Pharmaceuticals, a publicly-traded biopharmaceuticals company, where he oversaw the financial and operational aspects of the commercial launch of ONIVYDE^® for the treatment of metastatic pancreatic cancer. Mr. Robinson began his career in the audit practice of Ernst & Young, where he served a variety of public and private life sciences companies at all stages of clinical development.

Mr. Robinson earned a B.S. in Management and an M.S. in Accounting from Boston College, and he is licensed as a Certified Public Accountant.

About Tourmaline Bio:

Tourmaline is a late-stage clinical biotechnology company driven by its mission to develop transformative medicines that dramatically improve the lives of patients with life-altering immune and inflammatory diseases. Tourmaline’s lead asset is TOUR006.

Cautionary Note Regarding Forward-Looking Statements:

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words and phrases such as “believe,” “designed to,” “expect,” “may,” “plan,” “potential,” “will” and similar expressions, and are based on Tourmaline’s current beliefs and expectations. These forward-looking statements include, but are not limited to, expectations regarding the development and potential therapeutic benefits of TOUR006, including the belief of TOUR006 being a pipelines in a product opportunity, seeking to address both cardiovascular diseases and autoimmune disorders; the potential of TOUR006 to be a standard-of-care changing medicine; and patient population and market opportunities. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include uncertainties inherent in the development of therapeutic product candidates, such as the risk that any one or more of Tourmaline’s current or future product candidates will not be successfully developed or commercialized; the risk of delay or cessation of any planned clinical trials of Tourmaline’s current or future product candidates; the risk that prior results, such as signals of safety, activity or durability of effect, observed from preclinical trials, will not be replicated or will not continue in ongoing or future studies or clinical trials involving Tourmaline’s current or future product candidates; the risk that Tourmaline’s current or future product candidates or procedures in connection with the administration thereof will not have the safety or efficacy profile that Tourmaline anticipates; risks regarding the accuracy of Tourmaline’s estimates of expenses, capital requirements and needs for additional financing; changes in expected or existing competition; changes in the regulatory environment; the uncertainties and timing of the regulatory approval process; unexpected litigation or other disputes; the impacts of macroeconomic conditions Tourmaline’s business, clinical trials and financial position; and other risks and uncertainties that are described in Tourmaline’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (“SEC”) on May 13, 2024 and other filings that Tourmaline makes with the SEC from time to time. Any forward-looking statements speak only as of the date of this press release and are based on information available to Tourmaline as of the date hereof, and Tourmaline assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contact:
Scient PR
Sarah Mishek
SMishek@ScientPR.com

Investor Contact:
Meru Advisors
Lee M. Stern
lstern@meruadvisors.com

FAQ

Who is the new CFO of Tourmaline Bio as of June 2024?

Ryan Robinson was promoted to Chief Financial Officer and Treasurer of Tourmaline Bio, effective June 25, 2024.

What role did Ryan Robinson play in Tourmaline Bio’s recent financial events?

Ryan Robinson was instrumental in Tourmaline Bio’s reverse merger in October 2023 and the $172.5 million public offering in January 2024.

What is Ryan Robinson’s background prior to becoming CFO of Tourmaline Bio?

Before becoming CFO of Tourmaline Bio, Ryan Robinson held positions at Korro Bio, Jounce Therapeutics, Merrimack Pharmaceuticals, and Ernst & Young.

How much did Tourmaline Bio raise in their January 2024 public offering?

Tourmaline Bio raised $172.5 million in their January 2024 public offering.

When did Ryan Robinson start serving as Interim CFO of Tourmaline Bio?

Ryan Robinson started serving as Interim CFO of Tourmaline Bio in October 2023.