AltruBio Strengthens Management Team With Appointment of Jeroen Grasman as Chief Financial Officer

• Jeroen Grasman joins AltruBio with over 15 years’ experience in biotech finance and operations
• The expansion of AltruBio’s management team will help advance its lead candidates, neihulizumab and leiolizumab, through the clinic to help patients with immunological disease

SAN FRANCISCO, Aug. 09, 2021 (GLOBE NEWSWIRE) — AltruBio Inc. (“AltruBio” or “the Company”), a clinical stage biotech company dedicated to the development of novel therapeutics for the treatment of immunological diseases with high unmet medical needs, today announced the appointment of Jeroen Grasman as chief financial officer.

“Jeroen is a wonderful addition to our leadership team and we’re excited to have him help us execute as we move into the next phases of growth for our company, especially following our recent completion of Series A.” said Judy Chou, Chief Executive Officer of AltruBio. “His extensive knowledge of investors and deep expertise in finance, operations and corporate strategy will be integral as AltruBio works to address the unmet needs of patients with immunological diseases.”

Mr. Grasman added, “I’m excited to join AltruBio and its team of pioneers in first-in-class immunomodulators. Creating new options for immunological diseases with high unmet medical needs is a very personal commitment and incredibly exciting. I couldn’t be more thrilled to be joining a team with such an inspiring vision. “

Prior to joining AltruBio, Mr. Grasman led the Finance and Operations team at PACT Pharma, where he oversaw the growth of a 30-person preclinical company to a prominent clinical stage cell therapy enterprise with over 200 employees. He helped develop fundraising strategies which drove the company’s Series C raise and additional funding through partnership agreements. Prior to joining PACT, Mr. Grasman led the pre-commercialization efforts at Intarcia Therapeutics as VP Finance and held various senior leadership roles over the course of 11 years at Genentech and Roche.

Mr. Grasman earned his MBA from Harvard Business School and a B.S. in Applied Mathematics from Groningen University in the Netherlands.

ABOUT ALTRUBIO INC.

AltruBio is a privately held biotechnology company headquartered in the San Francisco that is focused on developing novel therapeutics for the treatment of immunological diseases with high unmet medical needs. The company has leveraged its deep understanding of the role PSGL-1 plays as an immune checkpoint regulator protein to develop a platform for T-cell mediated immunological diseases. Its lead molecule, neihulizumab (AbGn-168H), an immune checkpoint agonist antibody targeting PSGL-1/CD162 has achieved proof of mechanism in four autoimmune and inflammatory diseases, and is currently prioritized for further clinical development in steroid refractory acute graft-versus-host disease (SR-aGVHD). The company also has a number of next generation PSGL-1 antibodies at the preclinical stage. Its lead preclinical candidate, leiolizumab (AbGn-268), has demonstrated higher potency than AbGn-168H and is advancing toward IND for autoimmune and inflammatory disorders.

Note on Forward-Looking Statements
Statements made in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as expects, believes, intends, and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as the Company’s ability to raise additional capital, and risks related to the Company’s ability to initiate, and enroll patients in, planned clinical trials. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by law.

Contacts

AltruBio Inc:
+1-650-832-1752
+886-2-2627-2707
info@altrubio.com

Media Contact:
Darren Opland, PhD
LifeSci Communications
+1-646-627-8387
darren@lifescicomms.com