Dianthus Therapeutics Appoints Adam Veness, Esq., as General Counsel
Experienced life sciences executive brings more than a decade of public company expertise in legal, corporate governance and compliance
New York City and Waltham, Mass., June 20, 2023 – Dianthus Therapeutics, a clinical-stage biotechnology company dedicated to advancing the next generation of antibody complement therapeutics, today announced the appointment of Adam Veness, Esq., as General Counsel.
Joining Dianthus most recently from Cyteir Therapeutics, Veness spent much of his career as Senior Vice President, General Counsel and Secretary at Acceleron Pharma Inc. prior to the acquisition by Merck in November 2021. During his tenure at Acceleron, Veness gained experience in roles of increasing responsibility where he served on the Executive Committee responsible for company strategy, and he led all aspects of global legal and compliance, including capital markets and SEC reporting obligations, corporate governance, contracts, intellectual property, employment matters, and data privacy.
“We are excited to welcome Adam to the Dianthus team at such a pivotal time for the company,” said Marino Garcia, President and Chief Executive Officer of Dianthus Therapeutics. “Adam’s proven track record in helping develop and implement corporate strategy and successfully leading the legal and compliance functions in public life science companies will be invaluable as we expect to transition to a public company in the third quarter of this year. I am looking forward to working with Adam and to his contributions as we continue to build an exciting biotech company.”
Prior to moving in-house to the biotechnology industry, Veness was a corporate and securities attorney at the law firm Mintz Levin where he represented and counseled public and private companies in the biopharmaceutical, technology, and healthcare industries. He began his legal career at a boutique litigation firm representing companies and individuals in a variety of civil litigation matters. Veness earned a B.A. in political science and philosophy from Tulane University, and a J.D. from Boston University School of Law.
“I am thrilled to join Dianthus as the company embarks on this exciting chapter of growth,” said Adam Veness, Esq., General Counsel of Dianthus Therapeutics. “I have been impressed with the quality of the science and the caliber of the Dianthus management team, board of directors, and investors. The team’s dedication to improving the lives of people with severe autoimmune disease has been inspiring, and their impressive achievements over a short period of time exemplify their sense of urgency in bringing potentially best-in-class therapies to these patients with high unmet need. I look forward to working with Marino and the entire Dianthus team as we are poised to cross the threshold into the public markets.”
DNTH103 is an investigational long-acting classical complement pathway inhibitor designed as a less frequent and convenient subcutaneous injection with the potential to treat people living with severe autoimmune diseases. DNTH103, a fully human monoclonal antibody, is designed to selectively target only the active form of the C1s complement protein, inhibiting only the classical complement pathway, with the aim of treating patients with a lower dosing volume as a convenient subcutaneous injection suitable for a self-administered pre-filled pen. Inhibiting the active form of the complement target seeks to address a critical treatment gap in current complement therapies that do not bind selectively to the active protein, wasting a significant amount of the drug on inert proteins. DNTH103 selective inhibition of the classical pathway is engineered to preserve important immune activity of the lectin and alternative complement pathways needed to protect the body against infections from encapsulated bacteria. DNTH103 is also enhanced with YTE half-life extension technology to further reduce dosing frequency.
DNTH103 has a steady cadence of expected clinical milestones including top-line Phase 1 data aiming to confirm potent classical pathway inhibition and favorable, extended pharmacokinetics expected by the end of 2023, initiation of a Phase 2 trial in generalized Myasthenia Gravis expected in the first quarter of 2024 followed by two additional planned Phase 2 trial initiations in Multifocal Motor Neuropathy (MMN) and Chronic inflammatory demyelinating polyneuropathy (CIDP). Dianthus also plans to initiate an open label proof of efficacy trial in Cold Agglutinin Disease (CAD) with patient data anticipated in the second half of 2024.
About Dianthus Therapeutics
Dianthus Therapeutics is a clinical-stage biotechnology company dedicated to designing and delivering novel, best-in-class monoclonal antibodies with improved selectivity and potency over existing complement therapies. Based in New York City and Waltham, Mass., Dianthus is comprised of an experienced team of biotech and pharma executives who are leading the next generation of antibody complement therapeutics, aiming to deliver transformative medicines for people living with severe autoimmune diseases. In May 2023, Dianthus announced a merger agreement with Magenta Therapeutics and upon completion of the merger, the combined company is expected to operate under the name Dianthus Therapeutics, Inc. and trade on the Nasdaq under the ticker symbol “DNTH”. To learn more, please visit www.dianthustx.com and follow us on LinkedIn.
Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws concerning Dianthus’s expectations with respect to the proposed transaction between Dianthus and Magenta Therapeutics, Inc. (Magenta) announced in May 2023 and its anticipated closing. These forward-looking statements include express or implied statements relating to Dianthus’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Dianthus, Magenta or the proposed transaction will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Dianthus’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the conditions to the closing of the transaction are not satisfied, including the failure to obtain stockholder approval for the transaction; the risk that the concurrent financing is not completed in a timely manner or at all; uncertainties as to the timing of the consummation of the transaction and the ability of each of Magenta and Dianthus to consummate the transaction, including the concurrent financing; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement; the effect of the announcement or pendency of the merger on Magenta’s or Dianthus’s business relationships, operating results and business generally; and the outcome of any legal proceedings that may be instituted against Magenta, Dianthus or any of their respective directors or officers related to the merger agreement or the transactions contemplated thereby. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the proxy statement/prospectus included in the registration statement on Form S-4 which was initially filed with the SEC in May 2023 in connection with the transaction and other documents filed by Magenta from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of Dianthus’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Dianthus’s forward-looking statements only speak as of the date they are made, and Magenta and Dianthus do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Peg Rusconi, Verge Scientific Communications