Ribonexus appoints Steven Powell as CEO
Industry veteran appointed to advance Ribonexus’ oncology program into preclinical development
Villejuif, France, December 14, 2022 – Ribonexus, a biotechnology start-up developing new therapies to overcome resistance to current targeted therapies in cancer patients, today announces that it has appointed Steven Powell as its CEO to further develop its research and development strategy and operations, and prepare for its next stage of financing.
Powell’s goals for the company are to translate Ribonexus’ small molecule programs into preclinical development and further enhance the company’s product pipeline. The R&D effort is focused on building a pipeline of molecules targeting eurkaryotic initiation factor-4A (eIF4A). This target is highly active in a variety of solid and hematological cancers and its activity is associated with resistance to many current therapies.
Ribonexus was co-founded in 2021 by Adbio Partners to commercialize a discovery program licensed from Pierre Fabre and build on strong relationships with leading French research groups at Institut Gustave Roussy, Institut Curie and Strasbourg University.
“I am excited to join such a distinguished team of scientific founders and collaborators; helping to develop its product pipeline to better the lives of oncology patients,” said Steven Powell. “I look forward to using my experience to help advance Ribonexus’ development and financial goals in 2023.”
Steven Powell has extensive experience at CEO level of translating projects from discovery into clinical development and forging strategic partnerships with pharmaceutical companies. He has worked in several clinical fields including oncology, Central Nervous System (CNS) disorders, and infectious and inflammatory diseases.
“Steven has a wealth of international experience in raising funds for life science companies from private capital, venture capital and public markets in the EU, US and China,” said Matthieu Coutet, chairman of the board. “His track record in product development in oncology companies, including CDMO business models, and years of board and advisory experience, coupled with his experience in raising funds for early-stage companies, make him a great addition to the Ribonexus team.”
|About Steven Powell|
Steven holds a PhD in microbiology from the University of Aberdeen (Scotland). He has over 20 years’ international experience as CEO in public and private companies, raising over $225M (€214.3M) in equity. In his most recent position as CEO of Belgian biotechnology company eTheRNA Immunotherapies, he helped raise €39M ($41M) in a Series B financing round in 2022. He has extensive board and advisory experience, holding positions in the UK, US, Canada and several European countries.
Ribonexus (previously Aglaia Therapeutics) is an early-stage biotechnology company developing promising new oncology therapies. The company aims to deliver best- and first- in class drugs that restore sensitivity to current targeted therapies in those cancer patients who have become resistant to these treatments. Ribonexus has established a pipeline of small molecules, targeting the initiation of mRNA translation, which the company licensed from Pierre Fabre. Ribonexus has also established strong relationships with French research institutes such as Institut Gustave Roussy and Institut Curie.
Based in Villejuif, near Paris, France, Ribonexus was co-founded in 2021 by Adbio partners (ex-AFB). In 2021 the company raised €4M ($4.2M) in seed funding from AdBio partners, Credit Mutuel Innovation and Pierre Fabre.
- Andrew Lloyd Associates