VectorY Therapeutics Appoints Jim Scibetta as CEO
Jim Scibetta, CEO, VectorY • Photo Credit: VectorY
AMSTERDAM & BOSTON, December 16, 2024 (BUSINESS WATCH GLOBAL) – Biotech company VectorY Therapeutics, which specializes in developing vectorized antibody therapies for neurodegenerative diseases, has appointed Jim Scibetta as Chief Executive Officer (CEO). The company has also announced that founder and former CEO Sander van Deventer will transition to the role of President of Research and Development (R&D).
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According to the company, Scibetta, who has over 20 years of executive experience in biotechnology, will oversee the company’s growth and development as it advances its lead program, VTx-002, for the treatment of Amyotrophic Lateral Sclerosis (ALS). He will also join VectorY’s Board of Directors.
From left, former CEO and founder Sander van Deventer, the new President of R&D, and new CEO, Jim Scibetta • Photo Credit: VectorY
“On behalf of the Board, I’m delighted to welcome Jim as our new CEO. He brings a significant degree of experience, vision and leadership which will play a critical role at this juncture of VectorY’s development as we advance our lead program. Jim’s experience complements and will build on the great progress that Sander and the VectorY team have achieved over the past four years. He will drive the company towards its upcoming milestones while expanding its presence in the US,” said Adam Rosenberg, Chairman of VectorY Therapeutics.
Van Deventer will continue to lead the company’s pipeline development, including VTx-002, which targets TDP-43 to delay disease progression in ALS patients. The program is currently in IND-enabling studies and has received favorable feedback from the U.S. Food and Drug Administration (FDA) regarding its preclinical data, Chemistry, Manufacturing, and Controls (CMC) requirements, and proposed clinical protocol.
“I am excited about Jim joining the company as CEO. His experience of taking an innovative drug development pipeline and driving it forward is immensely valuable to VectorY as we approach the clinic,” said Van Deventer.
Scibetta expressed enthusiasm for joining the company, stating, "I am delighted to join VectorY at such a pivotal time. VectorY has impressive early data behind its technology and preclinical programs, and the company is supported by a leading investor syndicate. There is a clear path to achieving clinical data for its lead asset, VTx-002, with considerable future potential from the pipeline emanating from the novel VectorY platform.”
VectorY’s recent developments also include expanding its presence in the United States with a new office in Boston. The company previously completed a $138 million Series A funding round in November 2023 to support clinical development of VTx-002 and preclinical work on its broader pipeline.
For more information, visit www.VectorYtx.com.
Source: VectorY Therapeutics
