CEO of Danish immunotherapy startup hits the exit in the latest C-suite shakeup - Endpoints News

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Evax­ion Biotech, a Dan­ish start­up that us­es AI to de­vel­op per­son­al­ized im­muno-on­col­o­gy ther­a­pies, is shak­ing up its C-suite.

Lars Staal Weg­n­er

Lars Staal Weg­n­er has de­cid­ed to ex­it as the com­pa­ny’s CEO, Evax­ion an­nounced Tues­day, but will re­main in an ad­vi­so­ry role to the new CEO and board of di­rec­tors. Per Nor­lén, who has over 20 years in the in­dus­try, will take over as the new CEO in six months.

Pre­vi­ous­ly, Nor­lén was the CEO of Targin­ta and CMO of Xin­tela.

Many biotechs have seen their top lead­ers hit the ex­its in re­cent months, as the on­go­ing bear mar­ket con­tin­ues to bat­ter in­dus­try share prices. As one ex­am­ple, Ed­i­tas Med­i­cine ap­point­ed its third CEO in as many years in Gilmore O’Neill ear­li­er this year, and let Lisa Michaels go just 15 months af­ter she joined as CMO.

Oth­er com­pa­nies in a sim­i­lar boat with its C-suite since the start of the year in­clude Si­lence Ther­a­peu­tics, Zymeworks, Ava­lo Ther­a­peu­tics, Paci­ra Bio­sciences, Ada­gio Ther­a­peu­tics and Adap­tive Biotech­nolo­gies.

Evax­ion chair Mar­i­anne Soe­gaard said in a state­ment:

We are very pleased that Per Nor­lén has ac­cept­ed the role as CEO of Evax­ion. On­board­ing a new CEO is part of our plans to have broad­er qual­i­fied man­age­ment to take us to the next lev­el in fu­ture con­sol­i­da­tion of the projects and pur­sue new and strong part­ner­ships, among oth­ers.

Evax­ion raised $30 mil­lion in a mod­est IPO in 2021. Its lead pro­gram, EVX-01, is a per­son­al im­munother­a­py treat­ment based on the in­di­vid­ual pa­tient’s DNA. The com­pa­ny’s AI plat­form gets the body’s own im­mune sys­tem to find and kill the can­cer tu­mor cells by ap­ply­ing an al­go­rithm to se­lect mu­tat­ed pro­teins most like­ly to gen­er­ate an im­mune re­sponse, the com­pa­ny says.

Ear­li­er this year, Evax­ion an­nounced the re­sults of its Phase I/IIa study, along with Mer­ck. The da­ta of five pa­tients with metasta­t­ic melanoma showed that EVX-01 was ca­pa­ble of elic­it­ing T cell re­spons­es where the pa­tients re­ceived con­cur­rent stan­dard im­mune ther­a­py an­ti-PD-1 treat­ment, re­searchers said in Jan­u­ary. “Re­sults demon­strat­ed an an­ti­tu­mor ef­fect in com­bi­na­tion with an­ti-PD-1 treat­ment,” the com­pa­ny said. The find­ings were pub­lished in the jour­nal On­coIm­munol­o­gy.

Mean­while, the com­pa­ny has pro­duced all batch­es of per­son­al­ized can­cer im­munother­a­pies for all pa­tients en­rolled in the Phase I/IIa clin­i­cal tri­al of EVX-02 — its sec­ond pro­gram in the pipeline — in ad­ju­vant melanoma, but there’s no time­line yet for da­ta. The com­pa­ny is al­so study­ing a vac­cine pro­gram against bac­te­r­i­al dis­eases, called EVX-B1.

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CEO of Danish immunotherapy startup hits the exit in the latest C-suite shakeup - Endpoints News
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