Carol Gallagher, a former executive with Anadys Pharmaceuticals, is the new chief executive officer at drug startup Metastatix.
Metastatix recently closed on $35 million in B-round financing. Its lead product, MSX-122, is in clinical trials. The company also is developing possible HIV treatments.
One of Metastatix’s backers is The Aurora Funds in Durham, N.C. Georgia Venture Partners, H.I.G. ventures and the state of Georgia also are investors.
Gallagher replaces Tony Shuker, the company’s founder.
“He is going to be pursuing some other opportunities,” a spokesperson for Metastatix said. Shuker, a former senior scientist at Eli Lilly, launched the company two years ago.
“He brought the company to this critical point and $35 million in B round financing,” the spokesperson added. The company “decided to being in someone with more corporate experience.”
The company is utilizing technology licensed from Emory University.
Gallagher was senior vice president for corporate development and commercial affairs at Anadys. She has also worked at CancerVax and Biogen Idec.
“The recent Series B financing reaffirms that the therapeutics under development at Metastatix have significant potential to bring benefit to patients with serious diseases such as cancer, HIV and inflammation,” Gallagher said in a statement. “I look forward to working with the team as we transition Metastatix to a clinical development company.”
