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September 21, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Readying IPO, SpringWorks Therapeutics names new CFO

SpringWorks Therapeutics, a clinical-stage biotech developing small molecule therapies for rare cancers, has filed a preliminary prospectus with the Securities and Exchange Commission for a $115 million IPO.

Perier

The news comes on the heels of the Stamford firm’s naming Francis (Frank) Perier Jr. as its new CFO.

In its preliminary prospectus, SpringWorks said it plans to apply some of the proceeds from the IPO towards a Phase 3 study of nirogacestat, its lead candidate for treating patients with desmoid tumors, which occur in connective tissue. There are no FDA-approved drugs for such tumors.

SpringWorks maintained nirogacestat, as well as three other compounds, when it was spun off from Pfizer about two years ago. Pfizer had been testing the drug for breast cancer patients.

The firm plans to list on the Nasdaq under the symbol SWTX.

In the meantime, newly-named CFO Perier was CFO of Forest Laboratories Inc. for 10 years until the company was acquired by Actavis in 2014, at which point he became executive vice president of finance. Before that, he was vice president of finance and operations planning for the Americas medicines group at Bristol-Mysters Squibb Co. and an accounting and auditing partner at Deloitte.

He replaces Saqib Islam, who before becoming SpringWorks CEO last September was chief financial and chief business officer. Badreddin Edris now holds the latter title.