Artiva Biotherapeutics expands board with industry veteran

SAN DIEGO - Artiva Biotherapeutics, Inc. (NASDAQ: ARTV), a biotech firm specializing in cell therapies for autoimmune diseases and cancers, announced the appointment of Dan Baker, M.D., as an independent member of its Board of Directors. The company, currently valued at $135 million in market capitalization, has seen its stock decline over 53% in the past six months. According to InvestingPro analysis, the company maintains a strong liquidity position with more cash than debt on its balance sheet. Dr. Baker, with over two decades of pharmaceutical drug development experience, is currently the interim Chief Development Officer at Cue Biopharma (NASDAQ:CUE), Inc.

His industry tenure includes a significant 19-year stint at Johnson & Johnson, where he rose to the position of Vice President of Immunology R&D. During his time there, he led the development of major drugs like Remicade, Simponi, and Stelara, which have been instrumental in the treatment of autoimmune diseases and have achieved over $20 billion in peak sales.

Artiva’s CEO, Fred Aslan, M.D., welcomed Dr. Baker, highlighting his extensive expertise in clinical and regulatory strategy, particularly in the realm of autoimmune disease therapies. Dr. Baker expressed his enthusiasm for Artiva’s pioneering work in natural killer (NK) cell therapies and his anticipation to support the company’s mission.

Dr. Baker’s previous roles also include CEO and Founder of Kira Biotech Pty Ltd, focusing on immune system disorders, and Executive Director at Galapagos (NASDAQ:GLPG) Therapeutics. He is an alumnus of Gettysburg College and the University of Pennsylvania, with a subsequent medical residency and fellowships at Hershey Medical (TASE:PMCN) Center and Mass General Hospital.

Artiva’s lead program, AlloNK®, is currently undergoing clinical trials for systemic lupus erythematosus and other autoimmune indications. The company, founded in 2019 and headquartered in San Diego, was born from a strategic partnership with GC Cell, granting Artiva exclusive rights to GC Cell’s NK cell manufacturing technology and programs in most parts of the world.

The information in this article is based on a press release statement from Artiva Biotherapeutics, Inc.

In other recent news, Artiva Biotherapeutics’ progress in cell therapy for autoimmune diseases has garnered positive analyst coverage. H.C. Wainwright initiated coverage with a Buy rating, matching the broader consensus of a "Strong Buy". The company’s leading product, AlloNK, is under development and noted for its potential to enhance the efficacy of monoclonal antibodies. Artiva’s manufacturing process stands out for its cost-effectiveness and scalability, with the ability to produce enough AlloNK to treat over 1,000 autoimmune patients each year.

Following a successful initial public offering, Artiva reported a robust financial position with $199.6 million in cash, cash equivalents, and short-term investments, expected to fund operations through the end of 2026. Recently, the company welcomed Dr. Alison Moore to its Board of Directors, strengthening its operational capabilities. Other analyst firms, including TD Cowen and Cantor Fitzgerald, have maintained their positive ratings for Artiva, highlighting the promising potential of its therapies. These recent developments underline Artiva’s ongoing commitment to advancing cell therapies for autoimmune diseases.

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