Kyverna Therapeutics (NASDAQ: KYTX), a clinical-stage biopharmaceutical company focused on developing cell therapies for autoimmune diseases, has announced the appointment of Dr. Naji Gehchan as its new Chief Medical and Development Officer. The appointment marks a significant step in strengthening the company's leadership team as it advances its innovative cell therapy pipeline.
Strategic Leadership Addition
Dr. Gehchan joins Kyverna with more than two decades of experience in the pharmaceutical industry and clinical practice. Most recently at Eli Lilly and Company, he led the clinical development of imlunestrant, a novel breast cancer treatment, shepherding the program from Phase 1 through global submissions. His 16-year tenure at Lilly included several senior leadership positions, including Associate Vice President of Sales for the U.S. Diabetes Team and Chief Marketing Officer for Lilly France, Belgium, and Netherlands.
Warner Biddle, Kyverna's CEO, expressed strong confidence in the appointment, highlighting Dr. Gehchan's crucial role in advancing KYV-101, the company's lead CAR T-cell therapy candidate, through late-stage development for various autoimmune conditions.
Leadership Transition and Development Programs
As part of this transition, Dr. Dominic Borie, who served as Kyverna's founding CEO and President of Research and Development, will move to a new position as Strategic Advisor to the CEO and the Board. This restructuring aims to optimize the company's leadership structure as it enters its next phase of growth.
Ongoing Clinical Programs
Kyverna's lead candidate, KYV-101, is currently progressing through multiple clinical trials:
- Phase 2 trials for stiff person syndrome and myasthenia gravis
- Phase 1/2 trials for lupus nephritis
- Investigator-initiated trials for multiple sclerosis and systemic sclerosis
Compensation and Corporate Details
As part of his appointment, Dr. Gehchan will receive an inducement equity award of options to purchase 425,000 shares of common stock under the company's 2024 Inducement Equity Incentive Plan. The options will vest over a four-year period, with the first quarter vesting occurring on the one-year anniversary of his appointment.
Kyverna Therapeutics, with a current market capitalization of $144 million, maintains strong liquidity with a current ratio of 10.5, though it faces typical biotech sector challenges regarding cash burn. The company's stock currently trades near its 52-week low of $3.24.
Independent Director Christi Shaw emphasized Dr. Gehchan's patient-centered approach and disciplined leadership style as key attributes that align with Kyverna's mission to develop transformative cell therapies for autoimmune diseases.
