Regulus (NASDAQ:) Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs (the "Company" or "Regulus"), today announced the appointment of Preston S. Klassen M.D., M.H.S., to President and Head of Research and Development. Dr. Klassen brings over 20 years of experience in leadership roles in both large and small biopharmaceutical companies. In addition, the Company announced the appointment of Curtis A. Monnig, Ph.D., to Vice President of CMC.
"We are thrilled to welcome Dr. Klassen to the Regulus team," said Jay Hagan, Chief Executive Officer of Regulus Therapeutics. "Preston's considerable leadership experience across a range of therapeutic areas and modalities is a huge addition for Regulus and his particular expertise in both academic and industry settings in the field of kidney disease will be invaluable as we advance our program in ADPKD."
Dr. Preston Klassen is an established nephrologist who brings years of experience in leadership, medical affairs, and research and development across multiple therapeutic areas. Most recently he served as the President and CEO of Metacrine. Prior to that, he was an Executive Vice President and Head of R&D at Arena Pharmaceuticals, CMO and President at SANIFIT, and Senior Vice President and Head of Global Development at Orexigen Therapeutics. Previously, while at Amgen, he held multiple leadership roles, including Executive Medical Director and Therapeutics Area Head for Nephrology. Dr. Klassen earned his M.D. from the University of Nebraska Medical Center and completed both his residency in internal medicine and nephrology as well as his Master's in Health Sciences at Duke University Medical Center.
"I'm excited to be joining a team where I will have a hand in helping to bring novel disease-modifying therapies for kidney and other orphan diseases through the clinic and to patients in need," said Dr. Klassen. "I am particularly looking forward to leading the team as we advance through the Phase 1b MAD study of RGLS8429 for the treatment of ADPKD. We look forward to reviewing the topline data from the first cohort of patients expected later this year and working to advance the pipeline as we execute on upcoming clinical milestones."
Dr. Curtis Monnig comes to Regulus with over 25 years of experience in both pharmaceutical and biotech product development and commercial product support. Most recently, he was Vice President of CMC at January Therapeutics. Prior to this, he held positions at Currax Pharmaceuticals, Allergan, Cardinal Health and Amylin Pharmaceuticals. Dr. Monnig earned his B.S. in biochemistry and M.S. in chemistry from the University of Missouri and his Ph.D. in chemistry from Indiana University.
On June 12, 2023, Dr. Klassen will be granted (i) a stock option under the Company's 2021 Inducement Plan to purchase 250,000 shares of the Company's common stock and (ii) a stock option to purchase 100,000 shares of the Company's common stock under the Company's 2019 Equity Incentive Plan. Each of the options will have an exercise price equal to the fair market value at closing on the date of grant. The option has a 10-year term and vests over a period of four years, with 25% of the option vesting on the first anniversary of the Employment Commencement Date and the balance vesting in equal monthly installments over the following 36 months, subject to Dr. Klassen's continuous service through each vesting date, and subject to the terms and conditions of Regulus' 2021 Inducement Plan, the 2019 Equity Incentive Plan and the stock option grant notices and agreements thereunder. The options were granted under Nasdaq Listing Rule 5635(c)(4) as an inducement material to Dr. Klassen entering into employment with the Company.