In This Article:
– Norbert Bischofberger, Ph.D., is stepping down from his role as President & CEO –
– Deborah Knobelman, Ph.D., COO & CFO, is named President & Interim CEO –
SAN MATEO, Calif. and CAMBRIDGE, Mass., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Kronos Bio, Inc. (Nasdaq: KRON), a company developing small molecule therapeutics to address cancers and other diseases driven by deregulated transcription, today announced that its Board of Directors has appointed Deborah Knobelman, Ph.D., as President and Interim Chief Executive Officer, effective December 3, 2024. Dr. Knobelman will be the principal executive, financial and accounting officer. She is succeeding Norbert Bischofberger, Ph.D., who will step down as President & Chief Executive Officer, effective December 3, 2024. Dr. Bischofberger will remain on the Board of Directors and continue to be available to the Company as an advisor.
The Company also announced a workforce reduction of approximately 83 percent by year end as part of its previously announced plan to implement cost reduction strategies while exploring options, including possible business combinations and/or divestiture of its remaining internally developed preclinical assets, in an effort to maximize stockholder value.
“Norbert’s steadfast leadership was instrumental in the founding and building of Kronos Bio. On behalf of the Board of Directors, I would like to sincerely thank Norbert for his many contributions and his dedication to the Company and its mission,” said Arie Belldegrun, M.D., Board Chair of Kronos Bio. “We have the highest confidence in Deb’s ability to lead Kronos Bio in her new role during this time of significant transition for the Company.”
“It was a difficult decision to implement a reduction in force as we evaluate strategic alternatives for the Company. We thank our departing employees for their efforts, commitment to patients and contributions to Kronos Bio,” said Dr. Knobelman. “I look forward to working closely with the Board of Directors as we pursue the optimal path forward for the Company.”
About Kronos Bio
Kronos Bio is a biopharmaceutical company developing small molecule therapeutics to address deregulated transcription, a hallmark of cancer and autoimmune diseases. Our proprietary discovery engine decodes complex transcription factor regulatory networks to identify druggable cofactors. We screen for and optimize small molecules that target these cofactors in a disease-specific context. Kronos Bio is based in San Mateo, Calif., and has a research facility in Cambridge, Mass. For more information, visit https://www.kronosbio.com or follow the Company on LinkedIn.