Xeno Biosciences Announces New CEO and Financing
17 Abril 2024 - 12:22PM
Business Wire
Xeno Biosciences Inc., a clinical stage drug discovery and
development company advancing therapeutics for the treatment of
obesity and metabolic diseases, announced today a change in
executive leadership as of September 2023, and the completion of an
additional financing round in February of 2024. This financing of
$1.15M will fund a Phase 1b trial of the company’s lead compound,
Xen-101, in obese individuals. The trial is expected to have top
line results by the end of the year.
The new president and CEO, Dennis D. Kim, MD, MBA, has 25 years
of obesity and metabolic drug development expertise experience and
has brought multiple obesity and metabolic disease drugs to the
clinic and to market, including Byetta® (exenatide), Symlin®
(pramlintide), Contrave® (bupropion/naltrexone), and seladelpar. He
has been involved in numerous IPO’s/secondary offerings and has
been the chief medical officer of multiple public companies, most
recently at CymaBay Therapeutics, where he oversaw the design and
execution of seladelpar Phase 3 Pivotal Program.
“I’m excited to be spearheading the development of Xeno’s new
oral obesity drug which has been shown to have high tolerability in
initial Phase I trial and has a novel mechanism of action.” said
Dr. Dennis Kim. “I have dedicated my career to this area of science
and medicine. After many years of development, I am truly gratified
to see obesity pharmaceuticals as having the potential to impact
the lives of billions of people around the world. There is a strong
unmet need for a drug with the profile of Xen-101 and I look
forward to our Phase 1b clinical trial results in obese adults in
the near future.”
“Dennis has an extraordinary depth of knowledge and is highly
respected in the obesity field; I could not imagine anyone more
perfect to lead our company,” said Jeff Arnold, Chairman and a
Director at Xeno since 2017. “We are delighted that he has decided
to join us and lead this exciting project.”
For more information about Xeno Biosciences please contact Dr.
Dennis Kim at dk23@xenobiosciences.com.
About Xeno Biosciences
Inc.
Xeno Biosciences Inc. is a privately held drug development
company dedicated to finding safe and effective treatments for
obesity and metabolic diseases. Xeno is advancing its lead
development candidate, XEN-101, to address the unmet need for an
effective, well-tolerated, orally administered obesity treatment.
With a new understanding of the underlying mechanism of action of
Roux-en-Y Gastric Bypass Surgery (RYGB), Xeno has developed a
substitute for gastric bypass in a daily oral pill. XEN-101 has
been shown to have wide safety margins and high tolerability in
initial clinical trials.
Dennis D. Kim, MD, MBA
Dr. Dennis Kim is a scientist and a physician executive who
brings 25 years of clinical research and biopharmaceutical industry
experience to Xeno Biosciences. Dr. Kim served in a variety of
senior executive positions in the industry, most recently as Chief
Medical Officer at CymaBay, Emerald Biosciences, and Zafgen, Inc.,
as well as at Orexigen Therapeutics as the Senior Vice President of
Medical Affairs. He also held various senior management positions
at Amylin Pharmaceuticals, Inc. for over 7 years, including
Executive Director of Corporate Strategy and Program Medical Lead
for the development and commercialization of Byetta® (exenatide)
for the treatment of type 2 diabetes.
Dr. Kim completed his fellowship in Endocrinology/Metabolism at
the University of California, San Diego (UCSD) School of Medicine
during which time he investigated the pathophysiology of diabetes
and metabolic syndrome. He is extensively published in top
peer-reviewed medical and scientific journals with over 50
publications to his name. Dr. Kim also received an MBA degree with
honors from UCSD Rady School of Management with an emphasis on
biotech structure and strategy.
The securities sold in the aforementioned private placement have
not been registered under the Securities Act of 1933, as amended,
and may not be offered or sold in the United States in the absence
of an effective registration statement or an applicable exemption
from the registration requirements of the Securities Act. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy the aforementioned shares. In
addition, this press release contains certain forward-looking
statements regarding, among other things, statements relating to
goals, plans and projections regarding the company’s financial
position, results of operations, market position, product
development and business strategy. Such forward-looking statements
are based on current expectations and involve inherent risks and
uncertainties, including factors that could delay, divert or change
any of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking statements
can be guaranteed and actual results may differ materially from
such statements. The information in this release is provided only
as of the date of this release, and the company undertakes no
obligation to update any forward-looking statements contained in
this release on account of new information, future events, or
otherwise, except as required by law.
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Dr. Dennis Kim dk23@xenobiosciences.com