Frazier Life Sciences (FLS) has appointed Mitchell H. Gold, M.D., and Stanford L. Peng, M.D., Ph.D., as Venture Partners. Dr. Gold, previously Co-Founder, CEO, and Executive Chairman of Alpine Immune Sciences (ALPN), led the company from inception to its recent $4.9 billion acquisition by Vertex Pharmaceuticals in May 2024. He also founded Alpine Biosciences, which was sold to Cascadian Therapeutics in 2014.
Dr. Peng joins FLS from his role as President and Head of Research and Development at Alpine Immune Sciences, where he led the development of multiple drug candidates, including povetacicept. His experience includes leadership positions at Seagen, Roche, and Stemcentrx. Both appointments aim to strengthen FLS's capabilities in identifying and developing breakthrough biopharmaceutical companies.
Alpine Immune Sciences reported its financial results for the first quarter of 2024, with a cash position of $362.4 million. Vertex Pharmaceuticals will acquire Alpine for $65 per share, expected to close in Q2 2024. Collaboration revenue decreased to $7.0 million, with an increase in research and development expenses to $22.5 million. Net loss for Q1 2024 was $17.9 million.
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