Former Rubius, Laronde CEO Cagnoni to join Incyte

08 May 2023
www.biopharmadive.com
Executive ChangeAcquisitionDrug Approval
Pablo Cagnoni, the former CEO of Rubius Therapeutics and more recently the well-funded biotechnology startup Laronde, has been named head of research and development at Incyte, the company announced Monday.
In a statement, Incyte said Cagnoni will take on the newly created role to help accelerate development of the company’s experimental treatments for cancer and inflammatory diseases.
“Based on Pablo’s deep industry experience in all stages of drug development across different therapeutic modalities, as well as his proven track record of leading development organizations, he will play a critical role in helping us deliver on our commitment to patients, clinicians, our employees and shareholders,” said Incyte CEO Hervé Hoppenot, in a statement.
The new role is the third top biotech job Cagnoni has held since last November.
From 2018 to 2022, Cagnoni was CEO of Rubius Therapeutics, a high-profile startup backed by Flagship Pioneering that aimed to make medicines out of re-engineered red blood cells. However, the company experienced a series of clinical setbacks and testing delays, losing much of its value. Cagnoni, once one of the sector’s highest-paid executives, stepped down in November, and the company ceased operations the following month.
Cagnoni quickly moved over to run another Flagship-backed biotech, Laronde, which is developing drugs using so-called endless RNA, or eRNA. The company has raised more than $440 million in funding since emerging from stealth in May 2021. At the time of his appointment, Cagnoni said he looked forward to leading the company and working with Flagship to “demonstrate the promise of programmable medicines through eRNA.”
Now Cagnoni is on his way out. On Monday, the startup overhauled its executive team, naming chairman John Mendlein as interim CEO and former Sutro Biopharma executive Trevor Hallam its chief scientific officer. While Cagnoni will remain on the board of directors, he’ll formally step down as CEO on May 26.
In a statement from Laronde, Cagnoni called the chance to join Incyte “the opportunity of a lifetime to lead a large research and development organization.”
“I will miss the highly talented team at Laronde,” he said, noting the company made “significant progress” advancing its programs in the last several months.
He’ll now take over a portfolio that includes a variety of experimental treatments for cancer and inflammatory diseases, as well as approved drugs for the bone marrow cancer myelofibrosis and the skin condition vitiligo.
Incyte has made dermatology in particular a priority. After winning approval of its vitiligo treatment, the company made its first acquisition, buying the skin disease-focused startup Villaris Therapeutics.
“I look forward to working with the team to continue to deliver major advances across oncology and dermatology, and to fully realizing the potential of the broad and diverse pipeline to make a significant difference for patients,” Cagnoni said in a statement.
Cagnoni will start at Incyte on June 5.
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