ANN ARBOR–Courage Therapeutics, a biopharma company developing new treatments for obesity and eating disorders, today announced the appointment of Giovanni Ferrara as its new CEO.
This announcement follows an investment in early May by Austin, Texas-based Arsenal Bridge Ventures, which company officials said positions Courage to accelerate development of promising drug canddiates.
Company officials said founding CEO Dan Housman “will continue to actively contribute to the company’s success as a board member” with co-founder Roger Cone, a professor of molecular and integrative physiology at the University of Michigan.
Ferrara comes to Courage Therapeutics as former CEO of Medeor Therapeutics, where he oversaw the Phase 3 development of a cell therapy immunology product. Prior to that, he was a partner at Novartis Venture Funds, where he focused on starting companies and during which he was founder, President and CEO of NeuroVia Inc., a clinical-stage company focused on orphan central nervous system diseases. During his tenure, he successfully raised money, assembled a highly efficient team, and spearheaded clinical and regulatory strategies. Ferrara joined NVF from portfolio company Sorbent Therapeutics, where he was chief business officer and led a transition from dialysis to heart failure. Previously he was a venture capital investor where he also played a significant role in business development and leadership in portfolio companies.
“I’m excited to join Courage at what is arguably the most robust era in obesity and weight management science and medicine,” said Ferrara. “Courage offers a unique opportunity to impact a critical area where patient needs are largely unmet and look forward to working with this talented team to bring these important treatments to patients and caregivers as soon as possible.”
Courage Therapeutics’ two drug-development programs aim to address obesity and restrictive eating disorders by targeting neural circuits in the brain known as the central melanocortin system. The company discovered the substantial role that two of these proteins – the MC3 and MC4 receptors – play in regulating energy balance and food intake.
“Giovanni is a pivotal hire that frees the rest of us up to focus on advancing our drugs into the clinic as soon as possible,” said Cone. “With our new leadership – including a fully operational new board – and essential infrastructure in place, we are able to focus on generating meaningful data and fostering service provider relationships.”
The company is raising a second seed financing tranche to further accelerate its development and scaling in partnership with Arsenal Bridge Ventures.
“Through our extensive networks of experienced biotechnology CEOs and C-suite leadership, we were able to identify and recruit Giovanni, a leader whose vision and expertise are ideally suited for Courage Therapeutics,” said Isaac Barchas, founding partner of Arsenal Bridge Ventures. “We are confident that he will adeptly guide the company through its next crucial phase of development.”
Courage has a licensing agreement with the University of Michigan to develop treatments based on a portfolio of intellectual property jointly invented by Courage.
According to a Sept. 19, 2024 report from the Wall Street Journal, Arsenal Bridge Ventures is raising a $150 million fund to build biotech startups around science emerging in areas outside Boston and San Francisco.
More at https://www.couragetx.com/ and https://arsenalbridge.com/.