Yahoo Finance Pragma Bio Strengthens Strategic Leadership with Addition of Esteemed Advisors and an Independent Board Member
SOUTH SAN FRANCISCO, Calif., May 22, 2024--(BUSINESS WIRE)--Pragma Bio, an AI-enabled biotechnology company proudly announces the appointment of three distinguished individuals to its leadership team. The new additions include Stuart Chaffee, PhD, as Independent Board Member, and Raquel Izumi, PhD, and Abbas Kazimi, M.S., as Strategic Advisors.
Stuart Chaffee, PhD, brings nearly three decades of experience in the biotechnology and biopharma industry to Pragma Bio's board. Stuart has contributed to the inception of four publicly traded biotechnology companies and raised over $900 million in private and public capital. With a recent role as Chief Business Officer (CBO) at Affinivax, Inc. exiting for $3.3 billion to GSK, Chaffee's strategic acumen and leadership are invaluable. "I am honored to join Pragma Bio's board at such an exciting time in the company's journey," remarked Chaffee. "Pragma Bio's commitment to innovation and patient-centric approach align closely with my own values and experiences. I am eager to contribute to the company's growth and success."
Raquel Izumi, PhD, joins Pragma Bio's advisory team with a wealth of knowledge and experience in clinical development. Izumi has played a pivotal role in advancing breakthrough therapies for cancer patients as the co-founder of Acerta Pharma and Aspire Therapeutics LLC, and with a distinguished tenure at Pharmacyclics LLC. She played an instrumental role in bringing two medicines, CALQUENCE and IMBRUVICA, to market, which exited to AstraZeneca and Abbvie, respectively. AstraZeneca bought 45% of Acerta for $4 billion in 2016. After phase 3 milestones were met, AstraZeneca acquired the remaining 45% for nearly $3 billion. Pharmacyclics did a co-development deal with J&J for nearly $1 billion and a few years later, Abbvie bought Pharmacyclics for $21 billion. Abbvie and J&J now co-market IMBRUVICA. These two medicines currently are in the top 15 highest revenue generating oncology treatments on the market. Izumi’s story has been portrayed in Nathan Vardi’s "For Blood and Money: Billionaires, Biotech and the Quest for a Blockbuster Drug. "Joining Pragma Bio as a strategic advisor is a thrilling opportunity to be part of a team dedicated to pushing the boundaries of biotechnology," commented Izumi. "As a trained microbiologist, I have a deep personal interest in unraveling the value that microbes bring to medicine. I am excited to lend my expertise and contribute to the advancement of therapies that have the potential to impact patients' lives".
Abbas Kazimi, M.S., has over 15 years of experience in biotechnology business development and commercialization. Currently serving as CBO at Nimbus Therapeutics, Kazimi has been instrumental in driving key transactions resulting in over $600 million in equity financing and deals worth over a total value of $7 billion, including the landmark $6 billion acquisition by Takeda of the allosteric TYK2 inhibitor program and the associated subsidiary. "It's truly exciting to support Pragma Bio as their team shares my passion for leveraging cutting-edge technologies to address unmet medical needs," said Kazimi. "I look forward to sharing my experience to help Pragma Bio drive its mission forward."
With these strategic additions, Pragma Bio reaffirms its commitment to innovation and excellence in biotechnology. The company looks forward to leveraging the expertise of Stuart Chaffee, Raquel Izumi, and Abbas Kazimi as it continues to pursue its vision of transforming healthcare.
About Pragma Bio
Pragma Bio pioneers a tech-driven small molecules discovery pipeline, mapping nature-inspired chemicals within humans for health benefits. Harnessing cutting-edge machine learning and synthetic biology, we drive intelligent discovery and iteratively biomanufacture novel enzymes with potent biological signals to create new medicines and support biotech discoveries. Our exceptional team, along with our CSO and scientific co-founder, Professor Mohamed Donia from Princeton University, leads our pursuit of innovative solutions. Currently, our exclusive strategy involves mining human multi-omics and Real-World Evidence (RWE) for small molecule discovery to be validated in preclinical models in-house.
For more information, visit www.pragmabio.com.
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Contacts
For media/business inquiries, please contact Orly Levitan, VP Partnerships and Business Development, at orly@pragmabio.com.
