ARTICLE | Management Tracks
Alkermes picks Loew to lead oncology spinout
Plus: Two new SVPs at Dragonfly, and updates from Abilita, OcuTerra and PineTree
June 1, 2023 10:14 PM UTC
Alkermes plc (NASDAQ:ALKS) named Caroline Loew as CEO designate of Mural Oncology plc, the new public company into which Alkermes is divesting its oncology business. Loew will join Alkermes as a strategic adviser this month and become CEO upon completion of Mural’s separation, anticipated to be completed in 2H23. Loew was president and CEO at Glympse Bio Inc., before which she was VP, head of R&D strategy and planning at Bristol Myers Squibb Co. (NYSE:BMY).
Among the factors driving the company’s decision to explore a spinout is the Inflation Reduction Act “fundamentally shifting the relative economic value of biologic medicines of cancer,” Chairman and CEO Richard Pops said on the company’s 3Q22 earnings call...