Nimbus Therapeutics Announces CEO Transition, Highlighting Continued Growth and Innovation

Nimbus Therapeutics, a leading privately held biotechnology company, has announced a significant leadership change as part of its planned succession strategy. This transition comes at a pivotal moment for the company, which has established itself as an innovative force in the pharmaceutical industry through its unique business model and successful drug development programs.

Abbas Kazimi Takes the Helm as New CEO

In a move that signals the start of a new chapter for Nimbus Therapeutics, Abbas Kazimi has been appointed as the company's new Chief Executive Officer, effective immediately. Kazimi, who previously served as the company's Chief Business Officer, replaces longtime CEO Jeb Keiper in a transition that has received unanimous support from the company's board of directors.

Bruce Booth, board chair and Atlas Venture partner, praised Kazimi's appointment, stating that he has been a "critical leader in the last decade of success" at Nimbus. This transition is seen as a strategic move to position the company for its next phase of growth and innovation.

Nimbus's Unique Business Model and Recent Successes

Nimbus Therapeutics has distinguished itself in the biotech landscape through its innovative "hub-and-spoke" approach to drug development. Founded in 2009 during the Great Recession, the company was structured as a limited liability company with subsidiaries owning separate programs. This model has allowed Nimbus to advance drug prospects, increase their value, and sell them at a premium.

The company's success is evident in two lucrative deals:

1. In 2016, Gilead acquired a Nimbus liver disease medicine for $400 million upfront.
2. Three years ago, Takeda paid $4 billion in cash for an autoimmune disease treatment it views as a potential blockbuster.

These deals, along with several funding rounds, have enabled Nimbus to build a substantial financial foundation during a period when many drug startups have struggled to access public markets.

Looking Ahead: Nimbus's Pipeline and Partnerships

As Kazimi takes the reins, Nimbus Therapeutics is poised for continued growth with a promising pipeline of drug candidates:

• A cancer drug prospect that has recently completed early-stage clinical testing
• Another candidate headed for human trials this year
• Two additional prospects in earlier stages of development
• Ongoing metabolic disease research through a partnership with Eli Lilly

This robust pipeline, coupled with the company's track record of successful deals and partnerships, positions Nimbus well for future success in the competitive pharmaceutical landscape.

In accepting his new role, Kazimi expressed his commitment to the company's future, stating, "I am honored to lead Nimbus at this pivotal time in the company's evolution." As the pharmaceutical industry continues to evolve, all eyes will be on Nimbus Therapeutics to see how this leadership transition will shape the company's trajectory in the years to come.