PHILADELPHIA, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Passage Bio, a genetic medicines company focused on developing transformative therapies for rare, monogenic central nervous system disorders with limited or no approved treatment options, today announced the appointment of Bruce Goldsmith, Ph.D. as chief executive officer. Dr. Goldsmith succeeds Stephen Squinto, Ph.D., who co-founded Passage Bio and served as interim chief executive officer since 2018.
“Bruce is ideally suited to lead Passage Bio as chief executive officer given his strong neuroscience background coupled with his robust healthcare and biotechnology industry experience. He has served in various leadership roles over the last 20 years, and the company will greatly benefit from his strategic insights, business development acumen and clinical development expertise,” said Dr. Tadataka Yamada, Chairman of the Board of Passage Bio. “I want to thank Steve for serving as interim chief executive officer and advancing the company through a time of rapid growth. We look forward to continuing to benefit from his leadership and expertise in his new role as acting head of research and development.”
Dr. Bruce Goldsmith joins Passage Bio from Deerfield Management where he was a venture partner responsible for early-stage investments and served as interim chief executive officer of Civetta Therapeutics since April 2019. Previously, Dr. Goldsmith was chief operating officer at Lycera, a company developing first-in-class small molecules for immuno-oncology and autoimmune disease. While at Lycera he was responsible for business development, corporate and development strategy and manufacturing. Under his leadership, the company executed a number of business development transactions and advanced two preclinical programs into Phase 2 development. Dr. Goldsmith also held senior positions at Allos Therapeutics and GPC Biotech as well as various strategic marketing and business development roles at Johnson & Johnson focused on oncology and virology. Bruce holds an M.B.A. from Columbia Business School, a Ph.D. in neuroscience from the University of Pennsylvania where his thesis focused on mechanism of neuronal learning and memory and a B.A. in biology from Colgate University.
“It’s an extremely exciting time to be joining the leadership team. With IND filings for the three lead programs in GM1, FTD and Krabbe planned for this year, a data rich 2021 and our expanding pipeline of therapies for rare, monogenic central nervous system diseases, we believe Passage Bio is poised to become a leader in the space,” said Dr. Goldsmith, chief executive officer of Passage Bio. “I joined the Company because I share the team’s commitment to drastically improve the lives of the patients we serve, and I am eager to build upon this foundation as we advance our therapies into clinical development.”
About Passage Bio
Passage Bio is a privately-held genetic medicines company focused on developing transformative therapies for rare, monogenic central nervous system disorders with limited or no approved treatment options. The company is based in Philadelphia, PA and has a research, collaboration and license agreement with the University of Pennsylvania (Penn) and its Gene Therapy Program (GTP). The GTP conducts IND-enabling preclinical work and Passage Bio conducts all clinical development, regulatory strategy and commercialization activities under the agreement. The company has a development portfolio of six product candidates, with the option to license six more, with lead programs in GM1 gangliosidosis, frontoemporal dementia and Krabbe disease. Since inception, Passage Bio has raised $225 million with investments from OrbiMed, Versant Ventures, Frazier Healthcare Partners, Access Biotechnology, Lily Asia Ventures, New Leaf Venture Partners, Vivo Capital, and Boxer Capital of Tavistock Group, among others.
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