Irish cancer treatment firm appoints board members

Fledgling Irish treatment company Carrick Therapeutics has announced the appointment of Dr Burt Adelman and Dr Clive Dix to its board.

The firm, which aims to build Europe’s leading oncology company, was set up in October when it attracted $95 million (€84.5 million) in an initial funding round.

Its financial backers include Arch Venture Partners, one of the largest early-stage technology venture firms in the US, and Woodford Investment Management, a two-year-old UK fund that hit the headlines last year for dropping discretionary staff bonuses.

Other investors include Cambridge Enterprise Seed Funds, Cambridge Innovation Capital, Evotec, Google Ventures and Lightstone Ventures.

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The company aims to “target the molecular pathways that drive the most aggressive and resistant forms of cancer”.

In a statement announcing the appointment of the new board members on Wednesday, the company said Dr Adelman, who has more than 35 years experience, would serve as chairman.

He was most recently executive vice president and chief medical officer at Dyax Corp, which was acquired by Shire. Prior to joining Dyax, he held various senior executive positions at Biogen.

‘Thought leaders’

Dr Dix, who is chief executive of C4X Discovery Holdings, will join the board as a non-executive director.

He has 30 years’ experience and has expertise in drug discovery and development, as well as a broad knowledge of the science and commercial landscape of a variety of therapeutic areas.

The company is led by Dr Elaine Sullivan, a former vice-president for research and development at both US drugs giant Eli Lilly and UK peer AstraZeneca.

Commenting on the appointments, Dr Sullivan said she was “delighted to welcome two such renowned and successful entrepreneurs and thought leaders to the board”.

“Both Dr Adelman and Dr Dix have extensive experience of leading drug development from laboratory to clinic, and we are fortunate to be benefitting from their expertise as we drive forward and expand our portfolio,” she said.

Dr Adelman said: “The blend of world-class cancer researchers, drug development experts and the life science sector’s leading investors makes Carrick Therapeutics a truly exciting company.”

Dr Dix said Carrick Therapeutics’ potential was “clear” and its purpose “profound”.

“Targeting the most aggressive and resistant forms of cancer in order to make a real difference to the lives of patients,” he said. “I am excited to be working alongside the distinguished team working to achieve this.”