Scholar Rock Holding Corp. (SRRK) announces CEO Tony Kingsley has departed

August 3, 2021 7:49 AM EDT

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Scholar Rock (NASDAQ: SRRK), a clinical-stage biopharmaceutical company focused on the treatment of serious diseases in which protein growth factors play a fundamental role, today announced that CEO Tony Kingsley has departed Scholar Rock and has also stepped down from the Board of Directors. Nagesh Mahanthappa, Ph.D., the founder and former chief executive of Scholar Rock has been appointed Interim CEO until a successor is named. Scholar Rock’s Board of Directors has initiated a search for a permanent CEO.

“We have great confidence in Scholar Rock’s ability to continue to execute on its operating plans and believe Nagesh’s extensive experience, and deep knowledge of Scholar Rock’s innovative science and clinical programs, will ensure a smooth transition of leadership. The Company remains well positioned to further our robust pipeline, including the upcoming Phase 3 trial for apitegromab in spinal muscular atrophy and the DRAGON Phase 1 trial for SRK-181,” said David Hallal, Chairman of the Scholar Rock Board of Directors. “We look forward to working closely with Nagesh and the rest of the executive team to identify a high-caliber, strategic executive with broad expertise from research through commercialization to lead the Company to the next level.”

Mr. Hallal added, “On behalf of the Board, I want to thank Tony for his meaningful contributions to the Company over the past year, during which Scholar Rock announced positive data from the TOPAZ Phase 2 trial for apitegromab in SMA, progressed SRK-181 development in patients with cancer, and solidified our financial position with a large financing. We wish him well in his future endeavors.”

“I am proud of what we have accomplished this past year as the Company prepares for the next set of opportunities and advancements in science and programs,” said Tony Kingsley. “Scholar Rock has tremendous prospects and I look forward to watching the Company’s success.”

“I am honored by the opportunity to return to Scholar Rock to lead the Company through this interim phase and continue the tremendous progress we’ve made towards bringing our potentially transformative therapies to patients,” said Nagesh Mahanthappa, Ph.D. “I look forward to continuing to work with the extraordinary team at Scholar Rock in executing key corporate objectives, including progressing late-stage development and pre-commercialization initiatives for apitegromab, investigating SRK-181’s ability to overcome resistance to immunotherapies, and continuing to drive our innovative science and build our portfolio of product candidates.”

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