Management tracks: Cheng joins Akero, bluebird COO leaving
Metabolic company Akero Therapeutics Inc. (Cambridge, Mass.) named former Gilead Sciences Inc. (NASDAQ:GILD) executive Andrew Cheng president and CEO. Cheng joined Gilead in 1999 to lead its development programs in HIV/AIDS and became an EVP in 2015. He was promoted to CMO in April, but left the company after five months in the role.
Akero emerged from stealth mode in June with $65 million in series A funding from Apple Tree Partners, Atlas Venture, venBio and Versant Ventures. The company's lead program, AKR-001, is a long-acting analog of fibroblast growth factor 21 (FGF21) to treat non-alcoholic steatohepatitis (NASH). Akero intends to begin a Phase II trial of the therapy in mid-2019 (see "NASH Play Akero Emerges from Stealth with $65M")...