CAMBRIDGE, Mass. - 2seventy bio, Inc. (NASDAQ:TSVT), a biotechnology firm specializing in cancer treatments, has appointed Eli Casdin and Charles Newton as independent members of its Board of Directors, effective immediately. The appointments come at a critical juncture as the company is undergoing a strategic realignment.
Eli Casdin, the Chief Investment Officer and Founder of Casdin Capital, brings extensive experience in life sciences and healthcare investment to the board. His firm currently holds approximately 2.3% of 2seventy bio’s outstanding shares. Charles Newton, the Chief Financial Officer at Lyell Immunopharma, has a history of guiding healthcare companies through significant growth phases.
Dan Lynch, chair of 2seventy bio's Board, expressed confidence in the new appointees’ ability to contribute valuable perspectives and industry expertise to the company’s strategic direction, particularly in advancing the company's pipeline and delivering value to patients and shareholders.
The appointments are part of a broader board restructuring that will see the board's temporary expansion to nine members until June. Following this period, Dan Lynch will step down, and Nick Leschly will assume the role of Chairman. The company also mentioned that three directors, including the new appointees, are slated for election at the 2024 Annual Meeting of Shareholders, the date for which has not been scheduled yet.
The announcement also references a notice of nomination from Engine Capital for two individuals to stand for election to the board at the upcoming Annual Meeting. However, the board's Nominating and Corporate Governance Committee included Engine’s nominees in the process that resulted in the selection of Casdin and Newton.
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