TMCnet News
Renovacor Announces the Appointments of Joan Lau, Ph.D., and Gregory F. Covino to its Board of DirectorsPHILADELPHIA, June 29, 2021 (GLOBE NEWSWIRE) -- Renovacor, Inc. (“Renovacor”), an early-stage biotechnology company developing adeno-associated virus (AAV)-based gene therapies for devastating cardiovascular and central nervous system diseases resulting from BAG3 gene variants, today announced the appointments of Joan Lau, Ph.D., and Gregory F. Covino to its Board of Directors, effective upon the closing of the previously announced merger (the “Merger”) between Renovacor and Chardan Healthcare Acquisition 2 Corp. (NYSE: CHAQ) (“CHAQ”). The closing of the Merger is expected to occur in the third quarter of 2021. Upon the close of the Merger, Mr. Covino will also serve as the Chair of Renovacor’s Audit Committee. “Joan and Greg are accomplished industry leaders with proven track records and we are thrilled to welcome them to our Board,” said Magdalene Cook, M.D., chief executive officer of Renovacor. “Joan’s extensive leadership experience in gene therapy and the broader biotech space, together with Greg’s wealth of expertise in finance, accounting and capital markets, will be invaluable as we begin operating as a publicly traded company. We look forward to benefiting from their strategic guidance as we work to advance REN-001 towards the clinic and execute on our corporate objectives.” Dr. Lau commented, “It is an honor to be joining Renovacor’s Board. The company has impressive preclinical datasets and a sound development strategy, as it is utilizing a validated capsid to address a monogenic disease with a known origin. I look forward to working with my fellow directors and Renovacor’s world class scientific advisors to provide valuable insights and counsel to the company’s management team.” Mr. Covino added, “The opportunity to join Renovacor’s board is truly exciting. The company is working to address a pressing unmet need with a unique therapeutic approach. It is also poised to enter the public market with a strong financial foundation and the backing of a premier group of institutional investors, which leaves it well positioned for sustained success.” Dr. Lau brings over 20 years of biopharma leadership, drug development, and venture investing and transaction experience to Renovacor’s Board. She is currently the chief executive officer (CEO) of Spirovant Sciences, a gene therapy company focused on changing the course of cystic fibrosis and other respiratory diseases. Dr. Lau co-founded Spirovant (then called Talee Bio), and under Dr. Lau’s leadership, Spirovant gained the prestigious scientific support of the Cystic Fibrosis Foundation, received the Philadelphia Alliance for Capital and Technologies’ Healthcare startup of the year award and was acquired twice, first by Roivant Sciences, and most recently as part of a $3 billion transaction with Sumitomo Dainippon Pharma, which organized Spirovant as a wholly-owned subsidiary of Sumitovant Biopharma Ltd. Before co-founding Spirovant, Dr. Lau co-founded and served as managing partner of Militia Hill Ventures. Additionally, she led several other companies, serving as CEO of Azelon Pharmaceuticals, president and CEO of Locus Pharmaceuticals, chief operating officer of Immunome and in various leadership roles at Merck, including in R&D drug development and business development functions. Dr. Lau’s work in the biopharma industry has earned her several honors, including being recognized as a winner of the 2020 Ernst & Young Entrepreneur of the Year Award in Greater Philadelphia and as a 2020 Woman of Distinction by the Philadelphia Business Journal. Dr. Lau has a Ph.D. in neuroscience from the University of Cincinnati College of Medicine, an MBA from the Wharton School of Business at the University of Pennsylvania and a BSE in Bioengineering from the University of Pennsylvania. Mr. Covino is a deeply experienced financial executive with extensive leadership, operations, process and accounting expertise. He is currently an executive advisor at Novavax, Inc., where he also served as chief financial officer (CFO) and led the completion of a $500 million at-the-market capital raise. Prior to joining Novavax, Mr. Covino worked as senior vice president and chief accounting officer of TESARO, Inc. through te company’s $5.1 billion acquisition by GlaxoSmithKline (GSK). Following this acquisition, GSK retained Mr. Covino as group CFO of its newly formed TESARO Oncology Division. Mr. Covino also previously worked for over 6 years as the chief accounting officer of Biogen Inc., where he was responsible for accounting, business analysis, internal control and financial reporting functions. During his time at Biogen, Mr. Covino helped lead the finance function through a period of rapid growth following the commercial success of the company’s new products and extensive alliances. Previous to Biogen, Mr. Covino held positions as chief internal audit executive, and vice president, international finance for Boston Scientific. Additionally, Mr. Covino spent 10 years at the international accounting and consulting firm PricewaterhouseCoopers, where he gained extensive experience related to accounting, financial reporting, finance operations, internal controls, M&A and corporate taxation. Mr. Covino earned his bachelor’s degree in business administration from Bryant University, where he has also served as an adjunct professor. About Renovacor Renovacor previously announced that it had entered into a merger agreement with Chardan Healthcare Acquisition 2 Corp. (NYSE: CHAQ) (“CHAQ”), a special purposes acquisition company. Completion of the proposed merger is subject to approval by the shareholders of CHAQ and certain other conditions. The merger is expected to close in the third quarter of 2021. About Chardan Healthcare Acquisition Corp. Additional Information and Where to Find It Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by CHAQ through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by CHAQ may be obtained free of charge from CHAQ’s website at https://www.chardanhealthcarespac.com/ or by written request to CHAQ at Chardan Healthcare Acquisition 2 Corp., 17 State Street, 21st Floor, New York, NY 10004. Participants in Solicitation Forward-Looking Statements Legend Investor Contact: Media Contact: |