Third Harmonic (NASDAQ:HLIT) Bio, Inc. (NASDAQ:THRD), a biopharma company known for its work in inflammatory diseases, has announced key changes in its executive team. Adrian S. Ray will transition from his role as Chief Scientific Officer to become a Scientific Advisor starting November 1, 2023. Concurrently, Chief Financial Officer Robert Ho is set to leave the company on November 10, 2023.
As the company searches for successors, CEO Natalie Holles expressed gratitude for the significant contributions made by both Ray and Ho. Ray played a crucial role in the discovery of THB335, a promising drug candidate for treating mast-cell-mediated inflammatory diseases. Ho provided instrumental support during the company's successful initial public offering (IPO), which significantly bolstered Third Harmonic Bio's financial position.
The company is preparing to submit an Investigational New Drug (IND) application for THB335 in the first half of 2024. The drug is an oral small-molecule inhibitor of KIT, which regulates mast cell function and survival. Preliminary clinical studies suggest that THB335 could potentially revolutionize treatment across a wide range of mast-cell-mediated inflammatory diseases.
Holles remains optimistic about the future of Third Harmonic Bio, particularly with regard to advancing THB335 into clinical trials next year. She noted that the company plans to leverage its robust financial assets to potentially expand business operations.
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