Friday February 6, 2015 0 comments
BOULDER - N30 Pharmaceuticals Inc., a clinical-stage pharmaceutical company focused on developing product candidates for cystic fibrosis, announced R. Michael Carruthers has been appointed chief financial officer.
Carruthers brings more than 25 years of executive-level financial expertise to N30 Pharma, most recently serving as Array BioPharma's CFO, where he executed the company's IPO and multiple follow-on equity and debt fundraisers.
"Mike has an outstanding track record, with extensive experience in fundraising and other strategic initiatives for clinical-stage life sciences companies," said Jon Congleton, N30's president and CEO.
"We welcome him to our team, and believe that his capabilities and expertise will greatly benefit N30 Pharma as we pursue our clinical and business objectives."
N30 Pharma said it recently secured $31 million in a private placement of preferred stock. Proceeds from the financing will be used to advance the company's clinical development program for its lead product candidate N91115, which is being developed for CF patients in a Phase 1 clinical trial.
"I am thrilled to be joining a company with a novel approach to treating CF that may one day improve the lives of patients, and I look forward to helping fulfill the potential behind the science," Carruthers said.