CAMBRIDGE, Mass.–(BUSINESS WIRE)–2seventy bio, Inc. (Nasdaq: TSVT), announced today that Eli Casdin, Chief Investment Officer, and Founder of Casdin Capital, and Charles Newton, Chief Financial Officer, Lyell Immunopharma, have been appointed as new independent members of the Company’s Board of Directors (the “Board”), effective immediately. Casdin Capital owns approximately 2.3% of 2seventy bio’s outstanding shares as of 03/20/24.
“We are pleased to welcome Eli and Charlie to the 2seventy Board,” said Dan Lynch, chair of the Board of Directors. “Eli is a highly regarded, leading life sciences and healthcare investor and has a deep understanding of and history with the Company. Charlie has a track record of helping companies navigate through key value inflection points in their pipeline. We are confident that Eli, who adds an important shareholder perspective, and Charlie, who brings valuable industry expertise, will be strong voices on our Board as we advance our strategic re-alignment and reshape 2seventy to best deliver for our patients and shareholders.”
“At a pivotal and important point in 2seventy’s business evolution, it’s an exciting time to be more involved formally,” said Eli Casdin. “With a commercial product positioned to reach more patients and a great partner to accomplish that with, I look forward to joining the board and adding my voice to the strategic thinking and work ahead.”
“2seventy is an outstanding company comprised of a team that I have long held in high regard,” said Charlie Newton. “I am eager to join the Board and work with the management team as we advance therapies that give patients a chance at more life.”
Upon the appointment of Mr. Casdin and Mr. Newton, and as previously announced at the closing of the transaction with Regeneron, 2seventy bio’s Board of Directors will temporarily comprise nine members through June, until Dan Lynch steps down from the Board and Nick Leschly becomes Chairman. With today’s announcement, three directors are expected to stand for election at the 2024 Annual Meeting.
Separately, the Company noted that it received a notice of nomination from Engine Capital for two individuals to stand for election to 2seventy’s Board of Directors at the 2024 Annual Meeting. Engine’s two nominees were included in the Board’s Nominating and Corporate Governance Committee process that it undertook to identify new directors resulting in today’s appointments of Messrs. Casdin and Newton.
The Board will present its recommendation with respect to the election of directors in the Company’s proxy statement, which will be filed with the Securities and Exchange Commission and mailed to all shareholders eligible to vote at the Company’s 2024 Annual Meeting of Shareholders, which has not yet been scheduled.
About Eli Casdin
Mr. Casdin is a significant 2seventy shareholder and has spent the last 20 years analyzing and investing in disruptive technologies and business models in life sciences and healthcare. He has served as Chief Investment Officer and Founder of his namesake research investment firm, Casdin Capital, LLC, which is focused on the innovations in molecular medicine, since 2011.
Prior to founding Casdin Capital, Eli was a Vice President at Alliance Bernstein “thematic” based investment group where he researched and invested in the implications of new technologies for the life science and healthcare sectors. His Alliance Bernstein black book, “The Dawn of Molecular Medicine” detailed in 2011 the early yet already accelerating wave of innovations in life sciences, and the next wave of investment opportunities. Eli’s prior experience includes time at Bear Stearns and Cooper Hill Partners, a healthcare focused investment firm.
Mr. Casdin has sat on numerous public and private company Boards, including currently on two public boards including Standard BioTools, since April 2022 and during its merger with SomaLogic and GeneDx following its merger with Sema4 in May 2022; He also currently serves on several non-profit boards including The Rockefeller University; the New York Genome Center, and Columbia University School of General Studies.
Mr. Casdin earned a B.S. from Columbia University and an MBA from Columbia Business School.
About Charles Newton
Mr. Newton has decades of financial and executive experience in the healthcare industry. Since February 2021, Mr. Newton has served as Chief Financial Officer of Lyell Immunopharma, a fully integrated clinical-stage T-cell reprogramming company advancing a diverse pipeline of cell therapies for patients with solid tumors.
Prior to Lyell, he was at Bank of America Merrill Lynch, where he served as Managing Director and Co-Head of Healthcare Investment Banking in the Americas. He was previously with Credit Suisse as Managing Director and Co-Head of Healthcare Investment Banking in the Americas. Prior to that, he spent 14 years with Morgan Stanley, ultimately becoming Managing Director and Head of Western Region Healthcare Investment Banking. Earlier in his career, he was an Investment Banking Analyst with Lehman Brothers and a Financial Analyst with Mercer Global Advisors. Mr. Newton has advised on approximately $200 billion in mergers and acquisitions and raised nearly $60 billion in capital during his investment banking career.
Mr. Newton has served on the Board of Coherus BioSciences since 2022. He also served on the Board of Carmot Therapeutics until its acquisition by Roche.
Mr. Newton earned a B.S. from Miami University and an MBA from The Tuck School at Dartmouth College.
About 2seventy bio
Our name, 2seventy bio, reflects why we do what we do – TIME. Cancer rips time away, and our goal is to work at the maximum speed of translating human thought into action – 270 miles per hour – to give the people we serve more time. With a deep understanding of the human body’s immune response to tumor cells and how to translate cell therapies into practice, we’re applying this knowledge to deliver the first FDA-approved CAR T cell therapy for multiple myeloma to as many patients as possible. Importantly, we remain focused on accomplishing our mission by staying genuine and authentic to our “why” and keeping our people and culture top of mind every day.
For more information, visit www.2seventybio.com.
