Edgewise Therapeutics Appoints Michael Carruthers as Chief Financial Officer
October 16, 2020
– New executive brings over 20 years of experience serving as CFO for publicly-traded biopharmaceutical companies as Edgewise advances clinical muscular dystrophy program –
Boulder, Colo., (October 16, 2020) – Edgewise Therapeutics, a clinical-stage biopharmaceutical company developing small molecule therapies for musculoskeletal diseases, today announced the appointment of R. Michael Carruthers to the newly created position of Chief Financial Officer (CFO). Mr. Carruthers brings over two decades of experience serving as CFO for publicly-traded biopharmaceutical companies, with extensive experience across corporate finance and strategic planning including initial public offerings, capital raising strategy and mergers and acquisitions. This comes at an important time as Edgewise advances EDG-5506, the company’s lead product candidate, in clinical development for Duchenne and Becker muscular dystrophy (DMD and BMD).
“Mike brings a deep understanding of financial strategy in the biopharmaceutical industry and his business and financial expertise will be instrumental as we advance our company,” said Kevin Koch, Ph.D., President and Chief Executive Officer, Edgewise Therapeutics. “Having worked with Mike previously, I know that he will be an outstanding member of our executive team as we progress our pipeline.”
“I’m excited to join Edgewise at this pivotal point in the company’s growth and to support the advancement of EDG-5506, a potentially transformative product candidate in DMD,” said Mr. Carruthers.
Prior to joining Edgewise, Mr. Carruthers served as fractional CFO for several private and public companies. Previously, Mr. Carruthers served as Interim President of Nivalis Therapeutics, a publicly traded company that merged with Alpine Immune Sciences, in 2017 and CFO and Secretary since 2015. From 1998 to 2015, he served as CFO for Array BioPharma Inc., a publicly traded company acquired by Pfizer Inc. Prior to this, he served as CFO of Sievers Instruments, Treasurer and Controller for the Waukesha division of Dover Corporation and Accountant with Coopers & Lybrand. Mr. Carruthers received a B.S. in accounting from the University of Colorado and a M.B.A. from the University of Chicago.
About Muscular Dystrophy
Muscular dystrophies are a group of genetic disorders associated with defects in the critical muscle-associated structural protein dystrophin or the sarcomere complex and are characterized by progressive muscle degeneration and weakness. In individuals with neuromuscular conditions such as Duchenne muscular dystrophy, muscle contractions lead to continued rounds of muscle breakdown that the body struggles to repair. Eventually, as patients age, fibrosis and fatty tissue accumulate in the muscle portending a steep decline in physical function that ends with mortality. There remains an unmet need for treatments that reduce muscle breakdown in patients with neuromuscular conditions. Arresting this amplified muscle response will have a dramatic effect on disease progression.
About Edgewise Therapeutics
Edgewise Therapeutics, founded in 2017 by Alan Russell, Ph.D., Peter Thompson, M.D. (Orbimed Advisors) and Badreddin Edris, Ph.D., (Springworks Inc.), is pioneering the development of first-in-class medicines for the treatment of high morbidity musculoskeletal diseases. Skeletal muscle is the largest organ system in the human body, regulating both force production to enable muscle contraction, locomotion, and postural maintenance and the metabolism of glucose, fatty and amino acids. By modulating these processes in skeletal muscle, we create therapeutic agents that will reduce muscle damage, normalize muscle function, decrease mortality and profoundly benefit our patient’s quality of life. To learn more, go to: www.edgewisetx.com
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