When Alistair Irvine first started raising money for a University of Bristol spinout named Scarlet Therapeutics about two years ago, he got one question a lot: How was Scarlet, which is looking to turn red blood cells into therapies, going to compete with Rubius Therapeutics?
After immerAfter immersing in the risky startup world for a decade, Pablo Cagnoni is taking a top role at a big cap player.nsing in the risky startup world for a decade, Pablo Cagnoni is taking a top role at a big cap player.
It’s the end of the road for Rubius Therapeutics, a biotech that previously wanted to develop cellular therapies for rare diseases, cancer and autoimmune diseases.
We led off Peer Review two weeks ago with what remains of Rubius Therapeutics — and it’s not much. But ex-CEO Pablo Cagnoni has quickly rebounded at another Flagship biotech, taking control at a place where he’s been a board member for the last year. Cagnoni is succeeding interim CEO John Mendlein at Endless RNA (eRNA) biotech Laronde, which had the exceptionally lofty ambition of developing 100 drugs by 2031 upon its May 2021 launch and then raised $440 million in a Series B to put the wheels in motion.
Just two days after stepping down from his last job, former Rubius Therapeutics head Pablo Cagnoni is again leading a biotech, joining another startup backed by Flagship Pioneering.
CAMBRIDGE, Mass., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Rubius Therapeutics, Inc. (Nasdaq: RUBY), a biopharmaceutical company that is developing an entirely new class of cellular medicines called Red Cell Therapeutics™ for the treatment of cancer and autoimmune diseases, today announced that it has initiated a process to explore a range of strategic alternatives to maximize shareholder value and plans to engage an investment bank to act as a strategic advisor for this process. Strategic alternatives that will be evaluated include the sale of all or part of the Company or a merger. As a result of this process, Rubius is reducing its workforce by 84% and will retain certain employees to execute the process. The Company also announced the appointment of Dannielle Appelhans as president and chief executive officer, effective November 15, 2022. Ms. Appelhans previously served as chief operating officer since joining Rubius in 2021. Current president and chief executive officer, Pablo J. Cagnoni, M.D., was appointed Chair of the Rubius board of directors, effective immediately, and will continue as president and chief executive officer until November 15, 2022.
CAMBRIDGE, Mass., Sept. 19, 2022 (GLOBE NEWSWIRE) -- Rubius Therapeutics, Inc. (Nasdaq: RUBY), a biopharmaceutical company that is developing an entirely new class of cellular medicines called Red Cell Therapeutics™ for the treatment of cancer and autoimmune diseases, today announced that Pablo J. Cagnoni, M.D., president and chief executive officer, will participate in a fireside chat at the Guggenheim Nantucket Therapeutics Conference on Thursday, September 29, 2022, at 11:15am EDT.
Four years ago, Cambridge-based Rubius Therapeutics was having the time of its life. The company, which makes engineered red cells, was raking in ample cash and had enjoyed a $1.8 billion market valuation registered at the IPO.
CAMBRIDGE, Mass., Sept. 13, 2022 (GLOBE NEWSWIRE) -- Rubius Therapeutics, Inc. (Nasdaq: RUBY), a biopharmaceutical company that is developing an entirely new class of cellular medicines called Red Cell Therapeutics™ for the treatment of cancer and autoimmune diseases, today announced plans to restructure the Company and align resources to advance its next generation red blood cell-based cell conjugation platform.
CAMBRIDGE, Mass., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Rubius Therapeutics, Inc. (Nasdaq: RUBY), a clinical-stage biopharmaceutical company that is biologically engineering red blood cells to create an entirely new class of cellular medicines called Red Cell Therapeutics™ for the treatment of cancer and autoimmune diseases, today announced that the Company plans to provide a strategic update and host an investor teleconference and webcast on Tuesday, September 13, 2022, at 7:30 a.m. EDT.