Arcutis appoints Amit Munshi to board, founder Bhaskar Chaudhuri retires

Arcutis Biotherapeutics Inc. (NASDAQ: ARQT) announced that Amit Munshi has joined its board of directors effective December 4, while founder and board member Bhaskar Chaudhuri retired after nine years of service.

Munshi brings extensive biopharmaceutical leadership experience to the dermatology-focused company. He previously served as president and CEO of Orna Therapeutics LLC, where he led the merger with ReNAgade Therapeutics LLC and secured Series A financing. As CEO of Arena Pharmaceuticals Inc., he orchestrated a turnaround that included raising over $900 million in equity and $800 million in partnerships, culminating in Pfizer's $6.7 billion acquisition of the company.

Chaudhuri, who served as former chairman and was instrumental in developing ZORYVE (roflumilast), will continue as a consultant for Arcutis. The company stated that under his guidance, Arcutis grew from its first Series A financing to achieve a multibillion-dollar market capitalization.

Frank Watanabe, president and CEO of Arcutis, said Munshi's expertise in financing, portfolio optimization, and strategic corporate transactions will support the company's commercialization efforts for ZORYVE and advancement of its pipeline.

Munshi has held leadership positions at multiple biopharmaceutical companies including EPIRUS Biopharmaceuticals Inc., Percivia LLC, Kythera Biopharmaceuticals Inc., and Amgen Inc. He holds an MBA from Claremont Graduate University and dual degrees from The University of California, Riverside.

Arcutis is a commercial-stage biopharmaceutical company focused on immune-mediated dermatological diseases. Its product ZORYVE is approved in multiple formulations for treating atopic dermatitis, plaque psoriasis, and seborrheic dermatitis across various age groups.

You May Also Be Interested In

• Agnico Eagle subsidiary adds to Canada Nickel stake via private placement
• Zentek shares to move from Nasdaq to OTC Markets on Sept. 2
• BiomX announces 1-for-10 reverse stock split effective Sept. 9