G1 Therapeutics said Tuesday that it has named Dr. Seth Rudnick as executive chairman of its board of directors. The appointment is effective immediately. Dr. Rudnick is recently retired from Canaan Partners. Based in Chapel Hill, North Carolina, G1 is a pharmaceutical company focused on cancer therapy and biodefense applications. It is backed by MedImmune Ventures, Hatteras Venture Partners and Mountain Group Capital.
CHAPEL HILL, N.C., Jan. 7, 2014 /PRNewswire/ — G1 Therapeutics, Inc. today announced that it has named Seth Rudnick, M.D. as executive chairman of its board of directors, effective immediately. Dr. Rudnick has been serving as the chair of G1’s Scientific Advisory Board for the past year and will continue in this role with the company.
Dr. Rudnick brings to G1 extensive expertise in oncology, drug discovery and development, and healthcare investments. He is recently retired from Canaan Partners, where he built the global venture capital firm’s capability in biopharmaceutical investing. Prior to Canaan, he was the chief executive officer and chairman of CytoTherapeutics, a developer of cell therapies to combat chronic diseases. He also helped start and led research and development for Ortho Biotech, a division of Johnson & Johnson. Many of the products Dr. Rudnick was instrumental in developing there are still generating significant revenues today. Earlier in his career, Dr. Rudnick worked at Schering-Plough and directed pharmaceutical development efforts at Biogen.
“G1 Therapeutics is fortunate that Seth, with his tremendous background in hematopoiesis and oncology research and development, will take a hands-on leadership role as our lead product candidate moves toward IND status in the second half of 2014,” said Christy Shaffer, Ph.D., former executive chair of G1 Therapeutics’ board of directors and managing director of Hatteras Discovery, Hatteras Venture Partners. “Seth’s proven track record as an innovative leader in the oncology space will help ensure the successful execution of G1’s clinical development plans.”
“I’m delighted to be joining G1 at such a transformational time for the company,” said Dr. Rudnick. “Since I started working with Dr. Ned Sharpless about four years ago, I’ve been excited about the potential of G1’s novel technology to fulfill major unmet needs for cancer patients. I look forward to helping the G1 team advance its product candidate for the potential treatment of chemotherapy-induced myelosuppression into clinical trials and expanding the company’s novel CDK4/6 platform into other indications.”
Dr. Rudnick was a Yale Fellow in medical oncology where he was also a Robert Wood Johnson Scholar. He earned his medical degree at the University of Virginia and holds a BA in history from the University of Pennsylvania. He is a Clinical Professor of Medicine at University of North Carolina, Chapel Hill, teaching and advising faculty members on biotechnology issues. He also currently serves as the chairman of Liquidia Technologies, Drug Innovation Ventures at Emory (DRIVE) and Meryx, and serves on the boards of VaxInnate, POZEN and Square 1 Financial.
About G1 Therapeutics, Inc.
G1 Therapeutics, Inc. is a privately held pharmaceutical company based in Chapel Hill, NC that focuses on the discovery and development of novel small molecules for use in cancer therapy and biodefense applications. These molecules are being developed for targeting specific proteins associated with cell proliferation and growth. Such therapies may be useful to protect the bone marrow and other organs, including the kidney and lung, from toxic insult. In October 2013, the company raised $12.5 million in a Series A financing led by MedImmune Ventures that will enable it to advance its lead clinical candidate into clinical trials for the potential treatment of chemotherapy-induced myelosuppression. Visit www.g1therapeutics.com for more information.