Athira Pharma is circling the wagons and advising shareholders to decline require management modification. This comes one week after financier Richard Kayne required a leadership change in order to drive the advancement and commercialization of the company’s lead Alzheimer’s disease possession, ATH-1017 (fosgonimeton). Mark Litton was tapped to function as CEO of Athira last fall following the ouster of Leen Kawas after an investigation revealed that she altered images in her 2011 doctoral dissertation and in at least four research documents that she co-authored while a graduate student at Washington State University. In the letter, Kayne stated Litton is not fit for the task.
Co-founded with Richard Kayne, a popular Los Angeles-based asset supervisor who was an early Athira financier, Propel Bio Partners likewise has assistance from several other Athira financiers. Among them: John Fluke Jr., who stays on Athira’s board as the openly traded company pursues therapies for Alzheimer’s and Parkinson’s illness.
Kawas co-founded Athira (initially M3 Biotechnology) in 2011. Called Startup CEO of the Year at the 2019 GeekWire Awards, she took Athira public in 2020, as the first lady to lead a company to an IPO in Washington state in more than twenty years. Shares of Athira fell by more than 50% in June 2021 after Kawas was initially put on leave from Athira as questions emerged about her research study at Washington State University. Athira stock continues to trade at half its prior peak.
Co-founder and handling general partner of Propel Bio Partner, a life science investment firm focused on supporting the very best talent and most innovative technologies. previously Co-founder of Athira Pharma and co-inventor of its lead drug prospect ATH-1017. Creator of numerous of the innovative drug prospects in Athira’s pipeline. Led the technological and financial growth of Athira, raising around $400M and taking the company through it public offering.
The CEO of Athira, formerly known as M3 Biotechnology, is Leen Kawas, when a PhD trainee at Washington State whose 2011 doctoral argumentation supplied figures for this laden 2011 article in JPET, which made a correction in 2014. Earlier this year, as STAT reported, Kawas was forced to take a leave of absence from the company over concerns that she modified images in a number of documents. And there has actually been other examination of the company.
Leen Kawas , the Seattle biotech officer who resigned as CEO of Athira Pharma after an examination found she had actually changed doctoral research study images that helped to form the initial basis for the company, re-emerged Friday as co-founder and handling basic partner of a new investment firm called Propel Bio Partners LP.
The board is fielding its own slate of prospects, which includes Joseph Edelman, the founder, CEO and portfolio manager of Perceptive Advisors; John M. Fluke, Jr., the head of the investment firm Fluke Capital Management; and Grant Pickering, CEO of Vaxcyte, Inc. “The company’s director candidates have the ideal skills and experience required to support Athira at this vital time,” the board said. “Our greatest priority is advancing our lead drug prospect, fosgonimeton, through clinical trials and protecting regulatory approval for the treatment of Alzheimer’s disease (ADVERTISEMENT), which impacts as lots of as 35 million people worldwide. Under the current leadership group, Athira is performing well and delivering versus our target turning points.
