- Push-out Score determined
- After almost eight years in the position
- Accolades, praise and thanks for Mahanthappa
- Tony Kingsley taking over
(exechange) — Cambridge, Massachusetts, July 14, 2020 — Nagesh Mahanthappa, chief executive of Scholar Rock, leaves. As announced by Scholar Rock Holding Corp. in a news release on Tuesday, July 14, 2020, Nagesh K. Mahanthappa leaves his post as chief executive officer at the clinical-stage biopharmaceutical company after almost eight years in the role, effective August 1, 2020.
Nagesh Mahanthappa’s duties as CEO will be taken over by Tony Kingsley, most recently chief executive officer of Taris Bio.
Already a director
Kingsley is already a director of Scholar Rock.
Having been a director, Kingsley understands the expectations and dynamics of the board and has knowledge of Scholar Rock’s organization, risk-management practices and strategy.
“Pivotal time”
Scholar Rock did not give an explicit reason for Nagesh Mahanthappa’s departure from the CEO post. David Hallal, Chairman of the Scholar Rock Board of Directors, said: “Building on the tremendous foundation Nagesh has established, Tony’s clinical development, strategic, and commercial acumen will lead and drive Scholar Rock to further the company’s great potential. Tony has extensive experience in launching and growing franchises and companies, and we are thrilled that he’s taking the helm of the company at this pivotal time.”
Precise information regarding Nagesh Mahanthappa’s future plans was not immediately available.
“Step down”
Scholar Rock said: “Mr. Kingsley, who was appointed to Scholar Rock’s Board of Directors in May, replaces Nagesh K. Mahanthappa, Ph.D., MBA, who has chosen to step down after serving in this role since 2012.”
Share price increase since October 2019
The announcement follows an increase in Scholar Rock Holding Corp.’s share price of 67% since October 2019.
Chaired by David Hallal
Scholar Rock Holding Corp. is chaired by David Hallal.
David Hallal has served as the Chairman of the Company’s board of directors since July 2017.
In the position of CEO since 2012
Nagesh Mahanthappa became CEO of the Company in 2012.
Mahanthappa will also be stepping down from the Board of Directors on August 1, 2020, after which he will serve as a scientific advisor to the company.
Nagesh K. Mahanthappa, Ph.D. is the founding employee of Scholar Rock and has served as a director and the Company’s President and Chief Executive Officer since October 2012.
Prior to joining the Company, from February 2007 to May 2012, Mahanthappa was a founding employee and Vice President, Corporate Development & Operations at Avila Therapeutics, Inc. (acquired by Celgene Corporation in March 2012).
Previously, from August 2002 to February 2007, he served in roles of increasing responsibility at Alnylam Pharmaceuticals, Inc., most recently as Vice President, Scientific & Strategic Development. He was also a founder of TwistDx, Inc. a DNA diagnostics company acquired by Inverness Medical Innovations, Inc. (now Alere, Inc.) in 2010.
Since November 2016, he has also served as Non-Executive Director for Camena Bioscience.
Mahanthappa received his Ph.D. in Neurobiology from the California Institute of Technology, and completed his post-doctoral training at the E.K. Shriver Center for Mental Retardation (then affiliated with Massachusetts General Hospital) and Harvard Medical School.
He received his M.B.A. from the F.W. Olin Graduate School of Management at Babson College and his B.A. in Biology and Chemistry from the University of Colorado, Boulder.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Scholar Rock and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 29.2020 ($).