Dermatology-Focused Biotech Teravio Accelerates Growth with Appointment of Former NASDAQ-Listed Company Executive as CFO
Tecro, an innovative drug R&D company focused on dermatological indications, has welcomed another key executive.
On January 1, 2022, Jiaxing Tekeluo Biotechnology Co., Ltd. (hereinafter referred to as “Tekeluo”) announced the appointment of Ms. Lv Jiandong as the company’s Chief Financial Officer.
Ms. Lü previously served as Executive Director and Chief Financial Officer (CFO) at Rise Education Group, a company listed on the NASDAQ. Prior to that, she held senior positions at JPMorgan Chase, including Managing Director at JPMorgan Investment Bank, Chief Operating Officer (COO) of JPMorgan’s China securities joint venture, and Managing Director and Head of China for JPMorgan Asset Management. Ms. Lü brings extensive experience in capital markets and corporate operations management. In her new role, she will work alongside founder Dr. Wang Zengquan to guide the company into a new phase of development and make comprehensive preparations for its initial public offering (IPO).
From the perspective of market participants, the establishment of a CFO position is an inevitable outcome of the evolution of corporate governance structures to a new stage. The appointment of a CFO signals that Techro will enter a new period of development.
Public information indicates that Tecro is an innovative small-molecule drug development company focused on the research and development of new therapies for dermatological conditions. The company is committed to becoming a world-leading platform for the development of novel dermatological drugs, aiming to bring to market global first-in-class or best-in-class therapeutics targeting major skin-related diseases. Its mission is to provide patients worldwide with more effective, safer, and cost-efficient new medicines based on novel mechanisms of action.
Corporate financing, financial management, and corporate governance are the core of business operations. The CFO, whose role is directly tied to corporate financing and financial management, is an indispensable key figure in driving a company’s scalable and compliant growth.
Ms. Lv Jiandong, recently appointed as CFO of Tekeluo, brings 12 years of investment banking experience, 2 years of private equity financing experience, and 5 years of corporate operations management experience. She possesses extensive expertise in capital markets, corporate financing, strategic mergers and acquisitions, financial management, investor relations, human resources management, corporate governance, and internal control and compliance. In her new role as CFO of Tekeluo, Ms. Lv will assume full responsibility for these areas.
Upon recently joining Tekeruo, Ms. Lv Jiandong stated, “Tekeruo is the most innovative and dynamic specialized company in the field of dermatological diseases. I am delighted to become a member of this startup. Looking ahead, I hope to work alongside my colleagues to leverage our full capabilities and strive for excellence in advancing Tekeruo’s internationalization, commercialization, and modernization of management.”
Regarding the appointment of Ms. Lv Jiandong, Dr. Wang Zengquan, General Manager of Techro, stated: “We are delighted and honored to welcome Ms. Lv Jiandong to Techro as our Chief Financial Officer (CFO). Ms. Lv boasts an excellent educational background and extensive experience in finance, business, and operational management. After several years of accumulating early-stage R&D capabilities in the field of novel drug development for dermatological conditions, Techro has established a substantial pipeline of drug candidates across multiple major dermatological indications. Over the next two years, several of these pipelines will advance into clinical trials, propelling the company into a phase of rapid growth. This accelerated development places higher demands on the company’s management, operations, and regulatory compliance. Ms. Lv’s arrival will undoubtedly address these critical needs, aligning perfectly with our current trajectory and marking a significant milestone in the company’s development. I am confident that, through the joint efforts of Ms. Lv and our team, we will seize the favorable opportunities presented by the development of China’s biopharmaceutical industry. With support from the government and investment firms, we will work together to establish Techro as a world-class, locally rooted Chinese enterprise specializing in the R&D of innovative drugs for skin diseases.”
Alongside the appointment of its CFO, Tecro has relocated its Shanghai office to a new address at No. 60 Naxian Road, Pudong New Area, Shanghai. Measures such as expanding the management team and upgrading office facilities mark Tecro’s entry into a new phase of development.
Tecro Shanghai Office New Location
As a small-molecule drug R&D-focused innovative enterprise dedicated to the development of novel therapeutics for dermatological conditions, Tekeluo has established a pipeline of first-in-class or best-in-class drug candidates for androgenetic alopecia as well as autoimmune and inflammatory skin diseases.
In the field of hair loss treatment, TDM-105795, Tecro’s first clinical drug candidate, has demonstrated advantages over existing therapies in preclinical animal efficacy studies, including faster onset of action and fewer side effects in treating seborrheic alopecia (also known as androgenetic alopecia). The product is currently undergoing clinical trials in hair loss patients in the United States. The Phase I single ascending dose (SAD) trial has been successfully completed, and the study is about to proceed to the Phase I multiple ascending dose (MAD) trial. The hair regrowth project is expected to enter Phase II clinical trials in the United States in the second half of 2022.
In the field of inflammatory skin diseases, the company focuses on advancing the R&D of highly differentiated innovative small-molecule JAK inhibitors tailored to specific dermatological conditions. It has already established a robust intellectual property portfolio, with multiple series of compounds under simultaneous development for eczema, psoriasis, and lupus erythematosus.
Among these, preliminary efficacy results for the eczema program demonstrated that the candidate drug has a significant therapeutic advantage, with greater potency than marketed PDE4 inhibitors. It exhibited comparable efficacy to glucocorticoids but without the adverse cutaneous side effects associated with steroid use. The eczema program is expected to file for Phase I clinical trials in the second quarter of 2022. The company’s new drug candidates for psoriasis and lupus erythematosus are also gradually entering the stage of filing for clinical trials.
Three months ago, Tekeruo also announced the appointment of Arthur P. Bertolino, M.D., as its Chief Medical Officer. Meanwhile, Professor Xiang Leihong, a dermatologist from Fudan University Shanghai Medical College; Dr. John Mao, a senior drug R&D expert in the San Francisco Bay Area; Professor Gary J. Fisher, a biologist at the University of Michigan; and Dr. Arthur P. Bertolino were appointed as Members of the Scientific Advisory Board.
These appointments also provide robust support across all stages of the company’s operations, from early-stage R&D to late-stage clinical development. They will facilitate the company’s strategic layout of its early drug discovery pipeline and accelerate the advancement of multiple subsequent clinical programs into clinical trials, thereby ensuring the efficiency and quality of innovative drug clinical development. Furthermore, it is reported that Tecro currently holds dozens of patents both domestically and internationally, laying a solid foundation for the development of globally protected, internationally leading innovative drugs.