Stephen Mahoney is the New CEO and President of Viridian Therapeutics

Viridian Therapeutics (NASDAQ: VRDN) has announced the appointment of Stephen Mahoney as its new CEO and President, effective immediately. Mahoney brings over two decades of experience in the biopharmaceutical industry, having previously served as president, CFO, and operating officer of Magenta Therapeutics.

Scott Myers, the former President and CEO, stepped down from his position on Oct. 29, paving the way for Mahoney’s leadership. Additionally, Thomas Beetham has been appointed as the Chief Operating Officer (COO), while Shan Wu joins as the Chief Business Officer (CBO).

Concurrently, the company has finalized an agreement for a private placement deal with select institutional investors, resulting in aggregate gross proceeds of $185 million. This strategic move aims to bolster Viridian’s financial position and support its growth initiatives.

Notably, Viridian Therapeutics has unveiled a groundbreaking portfolio of preclinical neonatal Fc receptor inhibitors with promising applications in treating autoimmune diseases. This innovative development highlights the company’s commitment to advancing novel therapeutic solutions.

In response to these announcements, shares in Viridian surged by 1.70% to $12.59 in pre-market trade, reflecting investor confidence in the company’s strategic direction and leadership transition.

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