Axcella Therapeutics Announces Appointment of New Chief Financial Officer

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CAMBRIDGE, Mass., February 07, 2022–(BUSINESS WIRE)–Axcella Therapeutics (Nasdaq: AXLA), a clinical-stage biotechnology company pioneering a new approach to treat complex diseases using multi-target endogenous metabolic modulators (EMM) compositions , today announced the appointment of Robert Crane as the company’s new Chief Financial Officer.

“Bob brings a wealth of life sciences experience to Axcella at an important and exciting time in the company’s evolution,” said Bill Hinshaw, President and CEO of Axcella. “We look forward to benefiting from his financial acumen, operational mindset and deep understanding of the company’s value drivers as we approach several clinical reads this year and the opportunity to evolve our platform.”

Mr. Crane brings more than 35 years of experience building therapeutics, diagnostics and medical device companies to Axcella. After being a partner at venture capital firm Montgomery Ventures, he served as chief financial officer and held executive positions in a number of public and private life sciences companies. Over his career, Mr. Crane has helped raise over $1 billion in capital through IPOs, follow-on offerings and business development initiatives while creating billions in value for investors and many successful outings. His former companies include I-STAT (sold to Abbott), InKine (sold to Salix), Pyxis Oncology (NASDAQ: PYXS), Seragen, Inc. (sold to Ligand Pharmaceuticals), Sirtris Pharmaceuticals (sold to GSK), T- SCAN (NASDAQ: TSCN) and Taris Biomedical (sold to Allergan and J&J). Mr. Crane also served as president of the American Bicycle Group, a leading manufacturer of high-end bicycles. He received an MBA from Stanford University and a Bachelor of Science from Massachusetts Institute of Technology.

“I found Axcella particularly compelling given its three advanced clinical programs, all of which are in indications with significant unmet need,” said Crane. “Later this year, the company plans to share clinical data that will further elucidate our potential to create a new treatment paradigm for complex diseases while simultaneously providing investors with the opportunity for meaningful appreciation. Rarely to meet a company with so much upside potential and a platform to fuel future growth.”

About Axcella Therapeutics (Nasdaq: AXLA)

Axcella is a clinical-stage biotechnology company pioneering a novel approach to treating complex diseases using endogenous metabolic modulators (EMM) compositions. The Company’s product candidates are comprised of EMMs and derivatives that are designed in distinct combinations and ratios to restore cellular homeostasis in multiple key biological pathways and improve cellular energy efficiency. Axcella’s pipeline includes lead therapeutic candidates in phase 2 development for the reduction of the risk of recurrence of overt hepatic encephalopathy (OHE), the treatment of long COVID and the treatment of non-alcoholic steatohepatitis (NASH). The company’s unique model allows for the evaluation of its EMM compositions through non-IND clinical studies or IND clinical trials. For more information, visit www.axcellatx.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the company’s ability to provide medicines to patients suffering from various complex conditions. The words “may”, “will”, “could”, “would”, “should”, “expect”, “plan”, “anticipate”, “intend”, “believe”, ” estimates”, “predicts”, “project”, “potential”, “continue”, “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. All forward-looking statements contained in this press release are based on management’s current expectations and beliefs and are subject to a number of important risks, uncertainties and factors that may cause actual events or results to differ. differ materially from those expressed or implied by any forward-looking statement. statements contained in this press release, including, without limitation, those related to the potential impact of COVID-19 on the company’s ability to conduct and complete its ongoing or planned clinical studies and clinical trials. timely or not at all due to patient or principal investigator recruitment or availability difficulties, clinical trial site closures, or other potential interruptions and limitations in the quality, completeness, and interpretability of data that the company is able to collect in its clinical trials of AXA1665 and AXA1125, other potential impacts on the company’s business and financial results, including with respect to its ability to raise additional capital and operational disruptions or delays, changes in laws, regulations or interpretations and application of regulatory guidelines, if data readings are subject to maintain the company’s clinical trial plans and schedule, the clinical trial design and target indications for AXA1665 and AXA1125, the clinical development and safety profile of AXA1665 and AXA1125 and their therapeutic potential, if and when appropriate where applicable, the Company’s product candidates will receive approval from the FDA or other comparable regulatory authorities, potential competition from other biopharmaceutical companies in the Company’s target indications and other risks identified in the filings by company with the SEC, including Axcella’s annual report on Form 10-K, quarterly report on Form 10-Q and subsequent filings with the SEC. The company cautions you not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Axcella disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which such statements may be based, or which may affect the likelihood that actual results will differ from those statements. in forward-looking statements. All forward-looking statements contained in this press release represent the views of the company only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. The company expressly disclaims any obligation to update forward-looking statements.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220204005326/en/

contacts

Jason Fredette
[email protected]
(857) 320-2236

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