13 December 2021 - - US-based biopharmaceutical company Lyndra Therapeutics has appointed Klas Holmlund, CFA, as chief financial officer, the company said.

Holmlund brings 18 years of investment and financial leadership experience at publicly traded companies, including experience initiating and executing strategic multi-billion-dollar capital raises supporting sustained company growth, designing and implementing creative financing strategies and building top-performing corporate finance teams.

Holmlund, an global corporate finance executive, was Head of Treasury at Vertex Pharmaceuticals for more than 11 years, building the company's treasury infrastructure as its market capitalization increased from USD 7bn to USD 52bn.

In that role, Holmlund managed capital, credit and investment projects and supported the domestic and international operations of Vertex, overseeing finances for and serving on the boards of Vertex subsidiaries in more than 20 countries.

In addition to his experience managing the corporate treasury function, he brings strong relationships with institutional investors across a broad spectrum of debt and equity capital markets.

Holmlund received an MBA from Yale University, an MS in Finance from Boston College and a BA in Economics from Lewis and Clark College. He has previously served on the board of the New England Association for Finance Professionals and is a CFA charterholder.

Lyndra closed a USD 60.5m Series C financing round in June and has raised USD 240m to date, with additional financing in process.

Holmlund's financial expertise and strong investor relationships will help Lyndra prepare for accelerated growth in 2022, advancing and expanding its clinical programs, forging its commercial strategy and continuing the build-out of its manufacturing capabilities.

Lyndra's lead asset, oral weekly risperidone (LYN-005) for the treatment of people with schizophrenia and bipolar 1 disorder, will begin pivotal trials in 2022 following strong Phase 2 results and a positive End of Phase 2 meeting providing a clear and efficient path to approval.

An additional Lyndra asset, oral weekly levomethadone (LYN-014) for the treatment of opioid use disorder, received Fast Track designation from the FDA in July.

Oral weekly levomethadone and several other assets will initiate clinical trials in 2022.

Lyndra Therapeutics is a clinical-stage biopharmaceutical company pioneering ultra-long-acting oral therapies.

Lyndra plans to commercialize therapies for central nervous system disorders, with lead product candidate weekly risperidone (LYN-005) being developed for the treatment of people living with schizophrenia and bipolar 1 disorder.

The company's partners include the Bill and Melinda Gates Foundation, the NIH, AbbVie and Gilead. Lyndra is headquartered in Watertown, MA and has a state-of-the-art GMP manufacturing facility in Lexington, MA.