Boardroom musical chairs at BlueRock

BlueRock Therapeutics, a clinical stage biopharmaceutical company, a wholly-owned clinical-stage subsidiary of Germany’s Bayer (BAYN: DE), has revealed changes in its top executive team.

USA-based BlueRock, previously a joint venture that Bayer acquired full control of in 2019 in a transaction valued at around $1 billion, today announced that Emile Nuwaysir, current president and chief executive, will transition to the position of BlueRock board chairman, effective August 1, 2021. Current chief scientific officer Seth Ettenberg, will assume the role of president and CEO. BlueRock will continue in its mission to create authentic cellular medicines to reverse devastating diseases and improve the human condition.

Under Dr Nuwaysir’s leadership since 2017, BlueRock has grown from a small, pre-clinical startup to a clinical-stage company with over 200 employees in two countries. BlueRock also recently initiated a first-of-its-kind trial of pluripotent stem-cell derived dopaminergic neurons in patients with advanced Parkinson’s disease. In his new role, Dr Nuwaysir will continue to take an active role in the growth and maturation of BlueRock, providing guidance and support on both corporate strategy and R&D.

“It is an incredibly exciting time at BlueRock, as our Parkinson’s program advances in the clinic and our research pipeline and strategic partnerships continue to accelerate. I’m deeply grateful for the opportunity over the past five years to lead this world-class BlueRock team, and to partner with Bayer to realize our potential. In my new role as Board Chair, I look forward to working with Seth to bring our revolutionary new medicines to the patients who desperately need them,” said De Nuwaysir.

“Emile’s leadership has been a key driving force in BlueRock’s growth. We are very grateful for his contributions and pleased that he will continue to work closely with us in his new role as Board Chair,” said Stefan Oelrich, a member of Bayer’s board of management, and president of the Bayer’s Pharmaceuticals Division. “With Seth as the new CEO, I am certain BlueRock will continue to thrive and advance in its mission to bring revolutionary treatments to patients. We are excited about the future ahead and look forward to working with Seth,” he added.

Since joining BlueRock in 2020, Dr Ettenberg has been an exceptional leader of the Research organization, helping to shape the pipeline and advance BlueRock’s proprietary cell+gene platform. To aid in the transition to BlueRock’s next phase of growth, Dr Ettenberg has experience building a small biotech as well as a deep understanding of how to work and thrive within a large pharmaceutical ecosystem, said Bayer.

“We have begun our journey to change medicine and to address some of the most devastating degenerative diseases, where currently we can only offer a slowed trajectory of deterioration,” states Dr Ettenberg. “Our mission is to create a living medicine that can address the complex nature of these diseases, and in turn, create hope not just for treatment of symptoms, but for a cure. I cannot imagine a more exciting time to lead BlueRock,” he noted.