Paragon Adds Apogee Leaders After AbbVie Deal

Paragon Labs has appointed several former Apogee Therapeutics leaders following AbbVie’s announced $10.9 billion deal to acquire Apogee, according to Fierce Biotech. The leadership changes arrive alongside a separate transaction involving Paragon spinout Velaris Therapeutics and Nasdaq-listed Alaunos Therapeutics.

Former Apogee team joins Paragon

Fierce Biotech reported that Michael Henderson, M.D., who led Apogee through the sale, has become Paragon’s chief executive officer. He is joined by former Apogee colleagues Carl Dambkowski, M.D., as head of research and development; Dan Mulreany as chief business and financial officer; Matt Batters as chief legal officer; and Emily Cox as chief people officer.

Apogee advanced zumilokibart, an anti-IL-13 antibody initially developed at Paragon before the drug discovery hub spun out Apogee. Fierce Biotech said AbbVie announced its agreement to buy Apogee four months before the Paragon appointments.

Henderson said the team plans to apply experience translating Paragon-discovered programs into clinical-stage medicines to clinical development, regulatory strategy and execution at Paragon.

Velaris enters Alaunos combination

In a separate development, Fierce Biotech reported that Alaunos Therapeutics acquired Velaris Therapeutics. The combined company will focus on Velaris’ pipeline of ActRII-Fc ligand traps and complementary biologics for signaling imbalances associated with blood-vessel remodeling in the lungs across multiple cardiopulmonary conditions.

The transaction includes a $350 million private placement led by Fairmount, which Fierce Biotech reported is expected to fund the combined company into 2029. Henderson has also been appointed president of Velaris.

Pipeline focus

Velaris’ lead program, VLR199, is an ActRIIA-Fc ligand trap designed for pulmonary arterial hypertension. Fierce Biotech reported that the candidate is intended to improve on Merck & Co.’s activin signaling inhibitor Winrevair.

• Paragon was founded by Fairmount in 2021, according to Fierce Biotech.
• Velaris is advancing assets from Paragon in cardiopulmonary disease.
• The combined Alaunos and Velaris organization plans to pursue pulmonary arterial hypertension first.

For medical and pharmaceutical sales professionals, the developments place leadership, financing and cardiopulmonary pipeline activity at the center of Paragon’s post-Apogee strategy, as reported by Fierce Biotech.