PHILADELPHIA– Renovacor, Inc. (NYSE: RCOR), a biotechnology company focused on delivering innovative precision therapies to improve the lives of patients and families battling genetically-driven cardiovascular and mechanistically-related diseases, today announced the appointment of Fred Driscoll as Chief Financial Officer (CFO).
“Fred has a wealth of experience guiding financial strategy for publicly-traded biotech companies and we are thrilled to welcome him to Renovacor,” said Magdalene Cook, M.D., Chief Executive Officer of Renovacor. “His deep expertise in accounting and capital markets, together with his impressive track record of forging value accretive business development agreements with industry-leaders and government agencies, will be instrumental to our strategic evolution as a company. We are eager to begin our work together. I would also like to extend our sincere thanks to Wendy DiCicco for the invaluable contributions she made during her time as Renovacor’s Interim CFO.”
Mr. Driscoll added, “Renovacor’s impressive management team, strong financial foundation, and sound scientific strategy make the opportunity to serve as its CFO a truly exciting one. The company is leveraging a robust understanding of BAG3 biology and a validated capsid to target the underlying cause of a monogenic disease. Taken together, that forms the foundation of an innovative gene transfer technology that I believe positions its lead program, REN-001, for success as it moves towards an expected IND submission in the second half of this year. I believe my skill set is highly complementary to those of my new colleagues, and expect this to serve us well as we work to develop innovative precision therapies designed to transform the treatment paradigm of genetically-driven cardiovascular and related diseases.”
Mr. Driscoll joins Renovacor with over 25 years of executive experience in the biotech industry. He most recently served as the CFO of Flexion Therapeutics (Flexion), where he led the company through a successful $75 million initial public offering in 2014 and subsequently raised an additional $450 million in capital for the company. He was also a member of the merger and acquisitions team that executed the sale of Flexion to Pacira BioSciences in 2021 for up to $1 billion in enterprise value. Prior to his time at Flexion, Mr. Driscoll was the CFO of Novavax, Inc., where he played a crucial role in doubling the size of the company’s institutional shareholder base and led a team that secured more than $340 million in capital through a combination of public offerings and government contracts. He previously served as CFO and CEO of Genelabs Technologies, Inc., where he negotiated the sale of the company to GlaxoSmithKline at a 465% share price premium. Prior to Genelabs, Mr. Driscoll served as CFO and subsequently President and CEO of OXiGENE, Inc., Senior Vice President of Finance and Operations at Collagenesis Corp., and Vice President of Finance, Americas, for Instrumentation Laboratory. He earned a B.S. in accounting and finance from Bentley University and is currently an independent member of the boards of directors of Cellectar Biosciences, MEI Pharma and Cue Biopharma.
