Generation Bio Announces Executive Departures and Appointments

On January 6, 2025, Generation Bio Co. (NASDAQ:GBIO) officially reported the departure of key executives and the appointment of new leaders in a recent 8-K filing to the Securities and Exchange Commission.

Matthew Norkunas, MD, MBA, the Chief Financial Officer of Generation Bio, will be leaving the company effective January 10, 2025. The separation agreement between Dr. Norkunas and the company includes various benefits such as cash severance, healthcare coverage, accelerated vesting of equity awards, and an extension of post-termination stock options exercise period.

Additionally, the departure of Matthew Stanton, Ph.D., the Chief Scientific Officer, was also announced, effective on the same date. Dr. Stanton will transition out of his role, and a separation agreement provides him with cash severance, healthcare coverage, accelerated equity award vesting, and post-termination stock option exercise period extension. Dr. Stanton will also enter into a consulting agreement with the company until July 10, 2025.

Following these departures, Kevin Conway has been elected as the new Chief Financial Officer. With a background in finance within the company, Mr. Conway will receive a set base salary, an annual target bonus, and stock options as part of his compensation package.

Further, Phillip Samayoa, Ph.D., was appointed as the new Chief Scientific Officer, effective January 6, 2025. Dr. Samayoa, who previously served as the Chief Strategy Officer, will now take over the scientific leadership at Generation Bio.

The company also announced a new focus on applying its cell-targeted lipid nanoparticle technology to develop siRNA therapeutics for T cell-driven autoimmune diseases. With these initiatives, Generation Bio aims to modulate T cell activity selectively, potentially addressing currently undruggable targets involved in autoimmune diseases.

Moreover, a reorganization is underway within the company to support the development of these new therapy programs. Generation Bio expects to submit its first investigational new drug application in the second half of 2026 and proceed into clinical trials within its financial runway, which is forecasted to extend into the second half of 2027.

However, the company anticipates incurring costs related to the reorganization, including severance, termination, and retention expenses. These costs are expected to range between $1.0 million and $2.0 million, to be recognized by the second quarter of 2025.

Important forward-looking statements were made regarding the company’s strategic plans, future developments, and risks associated with the reorganization. Generation Bio emphasized its commitment to updating stakeholders on any upcoming developments while disclaiming any obligation to do so.

The Form 8-K also includes a furnished press release related to Generation Bio’s new focus, executive changes, and strategic reorganization, highlighting its commitment to advancing siRNA therapeutics for autoimmune diseases.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Generation Bio’s 8K filing here.

About Generation Bio

Generation Bio Co develops non-viral genetic medicines for the treatment of rare and prevalent diseases. The company develops cell-targeted lipid nanoparticle (ctLNP) platform, a modular delivery system for nucleic acids to avoid off-target clearance by the liver and spleen that enables ctLNPs to persist in systemic circulation, which allows for highly selective and potent ligand-driven targeting to specific tissues and cell types; and novel immune-quiet DNA (iqDNA) to enable long-lasting high levels of gene expression from non-integrating episomes and avoids innate immune sensors that have long prevented DNA from use in non-viral systems.