Leeds, UK, 25 November 2020: LUNAC Therapeutics Ltd (LUNAC), a UK-based drug discovery company focused on the development of advanced life-saving anticoagulants with minimal risk of bleeding, announces that it has appointed Carl Sterritt as Chief Executive Officer. Carl has over 25 years of management and executive level experience in pharmaceutical research, development and commercialisation.
Throughout Carl’s career he has focused on value creation and delivery for both large and small companies, across both private and public company spheres, latterly as Founder and Chief Executive of Shield Therapeutics plc. In that time he has raised over $150m of investment in both the private and public investor environments and has successfully led the development and subsequent approval of prescription pharmaceuticals in the EU (EMA) and USA (FDA).
Carl is also co-Founder and Chairman of PharmaKrysto Ltd, which is developing a new and effective therapy for people with Cystinuria. Previously, Carl held senior management roles and led the European operations of both United Therapeutics and Encysive Pharmaceuticals, developing and commercialising innovative therapies for the treatment of pulmonary arterial hypertension.
Carl Sterritt, CEO of LUNAC Therapeutics, said: “I am delighted to be appointed CEO of LUNAC at this important point in the Company’s journey. We have high quality IP licensed from one of the UK’s leading research-based academic institutions, the close support of the world-leading scientists who invented that IP and a very strong roster of supportive and committed shareholders. Having spent the last 10 years successfully creating and building Shield Therapeutics from an idea to a publicly-listed company, I look forward to bringing my full focus, entrepreneurialism and experience to bear for the benefit of LUNAC as we seek to move the Company forward apace.“
Dr Mervyn Turner, Chair of LUNAC Therapeutics, said: “On behalf of the Board and shareholders of LUNAC I am excited to be able to appoint an individual of Carl’s experience and track record to the leadership of our Company. We have an exciting future ahead of us and I look forward to Carl and his team successfully driving our project forward, as he has done with his numerous previous projects.”
About LUNAC Therapeutics
LUNAC Therapeutics is a spin out from the University of Leeds pursuing the discovery of next generation oral anticoagulant therapies with a reduced risk of causing bleeding compared to current treatments. LUNAC’s primary focus is on the inhibition of activated Factor XII (FXIIa), a clotting factor enzyme which plays a role in pathological clot formation (thrombosis), but not in the stemming of bleeding (haemostasis).
The business is founded on IP generated by Professor Helen Philippou (Professor of Translational Medicine in the Faculty of Medicine and Health at the University of Leeds) and Dr Richard Foster (Associate Professor in the Faculty of Engineering and Physical Sciences at the University of Leeds), built on a decade of academic research into FXIIa in association with some of the world’s leading supporters of scientific and medical research, including the Wellcome Trust, British Heart Foundation and the UK’s Medical Research Council.
To date LUNAC has raised over £8m to progress the FXIIa project. This includes £3.14m from the Innovate UK Biomedical Catalyst Fund and £5m secured in a Series A financing round led by transatlantic venture fund Epidarex Capital (Edinburgh, UK & Maryland, US). Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets. Epidarex focuses on providing risk capital to young companies, including spin-outs, from leading research institutions in both established and emerging life science hubs. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For more information, please go to www.lunactherapeutics.com. Follow LUNAC on Twitter @LUNACtx1.