H. Lundbeck A/S

Mr. Frohlich, formerly Chief Operating Officer of Chinook Therapeutics, brings 20+ years of leadership experience; Dr. Kocinsky offers deep expertise in developing therapies for autoimmune and kidney diseases Board of Directors, comprised of industry veterans in science, business, and strategy, will support the company's growth Expanded financing to accelerate clinical development of Jade's novel therapies targeting autoimmune diseases with significant unmet need VANCOUVER, BC and SAN FRANCISCO, Oct. 24, 2024 /PRNewswire/ -- Jade Biosciences, Inc. ("Jade"), a biotechnology company dedicated to developing best-in-class therapies for patients living with autoimmune diseases, today announced the appointment of Tom Frohlich as Chief Executive Officer (CEO) and Hetal Kocinsky, M.D., as Chief Medical Officer (CMO). The company also introduced its newly formed Board of Directors, marking a significant step in the company's growth trajectory. Jade has extended its financing, bringing the total raised to $95 million. The financing round adds Frazier Life Sciences and Versant Ventures to an investor syndicate that includes Fairmount, Venrock Healthcare Capital Partners, Deep Track Capital, Driehaus Capital Management, Franklin Templeton, RTW Investments, and Braidwell LP. Strategic Appointments to Lead Jade's Next Growth Phase Tom Frohlich, Chief Executive Officer Mr. Frohlich, a biotech and pharma industry veteran, brings over 20 years of experience in company building, business strategy, and product development. Before joining Jade, he co-founded and served as Chief Operating Officer (COO) of Chinook Therapeutics, where he guided the company's growth through to its $3.2 billion acquisition by Novartis in 2023. He also held leadership roles at Arbutus Biopharma, Johnson & Johnson, and Merck, managing key areas such as commercial strategy and business development. "I am honored to join Jade Biosciences and lead this talented team through such an exciting time," said Frohlich. "With a strong balance sheet, world-class investors, and an experienced leadership team, we are well-positioned to advance therapies that will transform patient care in autoimmune diseases." Hetal Kocinsky, M.D., Chief Medical Officer Dr. Kocinsky brings deep expertise in drug development, having led clinical programs from early-stage research to regulatory approvals across multiple therapeutic areas. Most recently, she served as Vice President of Translational Medicine at Chinook and held leadership roles at Apellis and Achillion Pharmaceuticals. A board-certified pediatric nephrologist, she also spent time as an Assistant Professor at the Yale School of Medicine. "I look forward to working alongside the team at Jade in our quest to deliver breakthrough therapies to patients in need," said Dr. Kocinsky. "With my background in translational medicine and experience navigating complex clinical landscapes, I look forward to accelerating solutions that can redefine care for patients with autoimmune diseases." New Board of Directors Brings Industry Expertise and Strategic Insight Jade's newly formed Board of Directors is led by Board Chairman Eric Dobmeier, former President and CEO of Chinook Therapeutics, and brings together industry leaders with expertise across science, business operations, and corporate strategy. The board includes: Chris Cain, Ph.D. – Director of Research, Fairmount Funds Management LLC Eric Dobmeier – Board Chairman, Venture Partner, Samsara BioCapital Tom Frohlich – CEO, Jade Biosciences Tomas Kiselak – Managing Member, Fairmount Funds Management LLC Lawrence Klein, Ph.D. – CEO of Oruka Therapeutics Erin Lavelle – Former COO and CFO at Profound Bio, Eliem Therapeutics; additional leadership roles at Alder BioPharmaceuticals and Amgen About Jade Biosciences Jade Biosciences is developing transformative therapies with the goal of redefining the standard of care for autoimmune diseases. The company launched in July 2024 and has raised $95 million from a strong slate of investors: Fairmount, Venrock Healthcare Capital Partners, Deep Track Capital, Driehaus Capital Management, Franklin Templeton, RTW Investments, Braidwell LP, Frazier Life Sciences, and Versant Ventures. Jade's portfolio was engineered by Paragon Therapeutics. For more information, visit JadeBiosciences.com and follow us on LinkedIn. Media Contact [email protected] SOURCE Jade Biosciences WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

Lundbeck and Longboard Pharmaceuticals have announced an agreement for the Danish pharmaceutical company to acquire all outstanding shares of Longboard, in a transaction valued at $2.6 billion in equity value. The transaction is expected to close by the end of the year. The deal will give Lundbeck ownership over Longboard’s pipeline of drug candidates for neurological and rare diseases. The lead asset, bexicaserin, is in late-stage development for the treatment of developmental and epileptic encephalopathies (DEEs), a group of severe epilepsies with onset in early childhood that affect over 220,000 people in the US alone. “This transformative transaction will become a cornerstone in Lundbeck’s neuro-rare franchise, with a potential to drive growth into the next decade. Bexicaserin addresses a critical unmet need for patients suffering from rare and severe epilepsies, for which there are very few good treatment options available," said Charl van Zyl, President and CEO of Lundbeck. The acquisition of Longboard will expand Lundbeck’s drug development pipeline, which focuses exclusively on therapeutic products for brain diseases, ranging from migraines to Parkinson’s. In particular, Longboard’s small molecule drug candidates are designed to selectively target G protein-coupled receptors (GPCRs), the most successful class of druggable targets in the human genome. In September this year, Longboard initiated a phase 3 clinical trial evaluating its lead asset, bexicaserin, for the treatment of seizures associated with Dravet syndrome. googletag.cmd.push(function () { googletag.display('text-ad1'); }); Cleveland Clinic describes Dravet syndrome as a rare type of epilepsy. Seizures usually start in the first year of a child’s life. In addition to frequent and varied seizures, children will experience lags in mental and physical development, with the possibility of many other symptoms. Medications help reduce the number and severity of symptoms. Bexicaserin is an oral drug candidate with a next-generation super-agonist mechanism that targets 5-hydroxytryptamine (5-HT) 2C receptors, a type of serotonin receptors that are linked to epilepsy. The drug candidate has a differentiated mechanism of action that targets 5-HT 2C ​ specifically, without impacting other 5-HT receptor subtypes such as 5-HT 2A ​ and 5-HT 2B ​. In preclinical and clinical studies, Bexicaserin has shown anti-seizure effects, with a best-in-class profile in Dravet syndrome, Lennox-Gastaut syndrome and other DEEs. The drug has blockbuster potential in this area of high unmet need, with global peak sales expected to be as high as $2 billion. “Longboard was founded to transform the lives of people living with devastating neurological conditions,” stated Kevin R. Lind, President and Chief Executive Officer of Longboard. “Lundbeck’s remarkable capabilities will accelerate our vision to provide increased equity and access for underserved DEE patients with significant unmet medical needs.”

Lundbeck’s acquisition of Longboard Pharmaceuticals aims to bolster its neuro-rare conditions portfolio with the addition of bexicaserin. Credit: UnderhilStudio/Shutterstock. Lundbeck has signed an agreement to acquire Longboard Pharmaceuticals for $2.6bn equity value in a move set to enhance its capabilities within neuro-rare conditions. Lundbeck has initiated a tender offer for all outstanding shares of Longboard’s common stock. The transaction holds a net value of $2.5bn, calculated on a fully diluted basis. The acquisition is aligned with Lundbeck’s focused innovator strategy, marking a significant advancement by adding Longboard’s lead asset bexicaserin, which addresses developmental and epileptic encephalopathies (DEEs). The product is currently under evaluation in a global Phase III clinical programme known as DEEp SEA, which includes patients diagnosed with Lennox-Gastaut syndrome, Dravet syndrome and other DEE syndromes. See Also: Bayer applies for EU approval of menopause drug elinzanetant ENHERTU gains conditional approval in China to treat NSCLC Lundbeck president and CEO Charl van Zyl stated: “This transformative transaction will become a cornerstone in Lundbeck’s neuro-rare franchise, with a potential to drive growth into the next decade. Bexicaserin addresses a critical unmet need for patients suffering from rare and severe epilepsies, for which there are very few good treatment options available.” Longboard president and CEO Kevin Lind said: “I would like to thank the entire DEE community, in particular bexicaserin’s study participants and their caregivers as well as the advocacy groups, investigators, sites and coordinators for their support and partnership. “Lundbeck’s remarkable capabilities will accelerate our vision to provide increased equity and access for underserved DEE patients with significant unmet medical needs.” The boards of directors of both Lundbeck and Longboard have given unanimous approval for the transaction. The expected closure of the deal is in the fourth quarter of 2024, contingent upon the tender of at least a majority of the total number of the outstanding voting shares of Longboard, along with the receipt of regulatory approvals and fulfilment of other customary conditions. In March 2024, Lundbeck and Otsuka Pharmaceuticals Europe’s Abilify Maintena received EU approval for treating schizophrenia.