Third Harmonic Bio Appoints Christopher Murphy As Chief Financial And Business Officer And Provides Business Update

Chris brings extensive enterprise-level leadership experience in business development, commercial operations, and corporate strategy

 

IND-enabling toxicology studies of THB335 nearing completion; Pre-IND interaction with the U.S. FDA now complete

Program remains on track to file a U.S. IND and initiate a Phase 1 study of THB335 during the first half of 2024

SAN FRANCISCO, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Third Harmonic Bio, Inc. (NASDAQ:THRD), a biopharmaceutical company focused on advancing the next wave of medicine for inflammatory diseases, today announced the appointment of Christopher Murphy as Chief Financial and Business Officer. Chris brings extensive experience in business development, commercial operations, corporate strategy and investment banking in the biopharmaceutical industry to the company's leadership team. In his role, Chris will be responsible for strategic leadership and direction of the company's finance, corporate strategy, and business development functions.

"We are very excited to welcome Chris, a high-caliber enterprise leader with a clear track record of translating thoughtful corporate strategy into meaningful shareholder value," said Natalie Holles, Chief Executive Officer at Third Harmonic Bio. "I look forward to Chris' thought partnership as we advance THB335 for the treatment of mast-cell mediated inflammatory diseases and evaluate opportunities to expand our work through strategic business development opportunities."

Chris Murphy most recently served as a member of the leadership team that transformed Horizon Therapeutics PLC from a primary care-focused specialty pharmaceutical company with a market capitalization of approximately $800 million to a fully integrated, highly profitable rare disease-focused biopharmaceutical company, which was acquired by Amgen Inc. for $28 billion in October 2023. While at Horizon, he served in roles of increasing responsibility in business development and commercial operations. In business development, Chris was most recently Group Vice President, where he oversaw a number of strategic transactions and integrations. In commercial operations, Chris most recently served as Group Vice President, overseeing market access, sales and marketing operations, and analytics across Horizon's portfolio of medicines, including during the preparation and initial launch of TEPEZZA® (teprotumumab-trbw) for the treatment of thyroid eye disease. Earlier in his career, Chris held positions of increasing responsibility in the Life Sciences Investment Banking Group at JMP Securities LLC.

Third Harmonic Bio also provided a business update on its lead program, THB335, a potent, highly selective oral small molecule KIT inhibitor in development for the treatment of chronic spontaneous urticaria and other mast-cell mediated inflammatory disorders. IND-enabling toxicology studies of THB335 are nearing completion, and the company recently completed its pre-IND written correspondence with the U.S. FDA. The company is on track to file a U.S. IND and initiate a Phase 1 SAD/14-day MAD study of THB335 during the first half of 2024. 

The company maintains a strong financial position with cash and cash equivalents totaling $273.9 million as of September 30, 2023.