Waltham, Massachusetts and Cambridge, UK May 26, 2022 – Alchemab Therapeutics, a biotechnology company focused on the discovery and development of naturally-occurring protective antibodies and immune repertoire-based patient stratification tools, announced that Young T. Kwon, PhD, Alchemab’s Chief Financial and Operating Officer, has succeeded Douglas A. Treco, PhD as Chief Executive Officer and member of the Board, who resigned for personal reasons.
Houman Ashrafian, Chairman of the Board said, “Doug was instrumental to our successful Series A financing and has made significant contributions to Alchemab. He led us in advancing our novel platform and our lead programs in neurodegeneration and cancer, and has helped build out an extremely talented team and established a solid operational foundation, including new operations in the U.S. We are extremely fortunate that he has been a part of Alchemab during this period of rapid growth and scientific progress.”
“We are delighted that Young will lead our Company and join our Board,” Dr. Ashrafian continued. “He has established himself as an outstanding leader and we are thrilled that he will be driving the Company forward during this exciting phase of growth. In addition to building transformative biotech companies, Young’s track record working with and developing talented teams will build on and shape Alchemab’s diverse, ambitious and unique culture. As the Company continues to grow its footprint in the U.S. and the U.K., we look forward to working with Young to advance our novel programs to the clinic and build out our highly differentiated platform.”
“I am excited by Alchemab’s potential,” said Dr. Kwon, “Over the last six months I have seen how combining experienced drug discovery capabilities with the latest computational approaches pave a new era in therapeutics discovery. I am grateful to Doug for his support and guidance and I look forward to the challenge of building upon the outstanding foundations that he has established.”
Dr. Kwon has served as Alchemab’s Chief Financial and Operating Officer since November 2021. Dr. Kwon previously served as Chief Financial and Business Officer of Momenta Pharmaceuticals until its acquisition by Johnson & Johnson in October 2020. Prior to Momenta, Dr. Kwon was a business development professional at Biogen and worked at the venture capital firm Advanced Technology Ventures, investing in early-stage biotech and medical device companies. Dr. Kwon received a B.S. in biology from Massachusetts Institute of Technology and a Ph.D. in Biological Chemistry and Molecular Pharmacology from Harvard University.
Alchemab has developed a highly differentiated platform which enables the identification of novel drug targets, therapeutics and patient stratification tools by analysis of patient antibody repertoires. The platform uses well-defined patient samples, deep B cell sequencing and computational analysis to identify convergent protective antibody responses among individuals that are susceptible but resilient to specific diseases.
Alchemab is building a broad pipeline of protective therapeutics for hard-to-treat diseases, with an initial focus on neurodegenerative conditions and oncology. The highly specialized patient samples that power Alchemab’s platform are made available through valued partnerships and collaborations with patient representative groups, biobanks, industry partners and academic institutions.
For more information, visit www.alchemab.com.
Chief Corporate Development and Strategy Officer