VectorY Therapeutics, a biotechnology company focused on developing vectorized antibody therapies for neurodegenerative diseases, has announced the appointment of Jim Scibetta as its new Chief Executive Officer. This move comes as the company's lead program, VTx-002, which targets TDP-43 for the treatment of Amyotrophic Lateral Sclerosis (ALS), advances into IND-enabling studies following favorable feedback from the FDA.
Sander van Deventer, the former CEO and founder, will transition to the role of President of R&D, continuing to drive the development of VectorY's pipeline. Concurrent with these activities, VectorY has expanded its US presence by opening an office in Boston.
Leadership Transition and Strategic Expansion
Jim Scibetta brings over 20 years of executive leadership experience to VectorY, having previously built early-stage companies focused on novel therapeutics for high unmet medical needs. He has served as CEO of Maverick Therapeutics and President of Pacira BioSciences. Adam Rosenberg, Chairman of VectorY Therapeutics, expressed his delight in welcoming Jim, citing his experience, vision, and leadership as critical assets for the company's development.
Sander van Deventer added that Jim's experience in advancing innovative drug development pipelines will be invaluable as VectorY approaches clinical trials. He noted the favorable FDA feedback regarding VTx-002's pre-clinical data package, CMC requirements, and proposed clinical protocol.
Advancing VTx-002 for ALS
VTx-002 is a novel vectorized antibody designed to selectively clear misfolded and aggregated TDP-43 from the cytoplasm of neuronal cells, restoring the essential function of TDP-43 in the nucleus. The aim is to significantly delay disease progression and preserve the quality of life for ALS patients by addressing the underlying TDP-43 pathology.
The company aims to initiate clinical trials for VTx-002 by the end of 2025. This timeline follows a $138 million Series A funding round completed in November 2023, co-led by EQT Life Sciences and Forbion, to support the clinical development of VTx-002 and preclinical development of other pipeline programs.
About VectorY's Approach
VectorY is focused on creating transformative vectorized antibody treatments for neurodegenerative diseases. Their platform combines precise therapeutic antibodies with one-time AAV-based delivery to the CNS, leveraging expertise in antibodies, AAV vectors, protein degradation, manufacturing, and neuroscience to develop disease-modifying therapies for conditions like ALS.
