PepGen appoints new CTO to advance therapies

BOSTON - PepGen Inc. (NASDAQ:PEPG), a biotech firm focusing on oligonucleotide therapies for neuromuscular and neurological diseases, today announced the hiring of Kasra Kasraian, PhD, as its new Chief Technology Officer (CTO). The company, currently valued at approximately $49 million, maintains a strong liquidity position with a current ratio of 4.95x. Dr. Kasraian’s appointment is part of the company’s strategy to push its clinical programs through mid-stage development and beyond.

Dr. Kasraian, an industry veteran with over 25 years of experience, has a background in product and process development, CMC strategy, and technical operations. His expertise spans various therapeutic modalities, including small and large molecules, and cell and gene therapies. His role at PepGen will involve leading the company’s technical operations and guiding its clinical programs. According to InvestingPro data, the company holds more cash than debt on its balance sheet, though it is currently experiencing rapid cash burn - two of over 10 key insights available to subscribers.

Before joining PepGen, Dr. Kasraian served at bluebird bio, where he was instrumental in the approval and launch of three gene therapy products: SKYSONA™, ZYNTEGLO™, and LYFGENIA™. His previous roles at Zafgen, Inc., Biogen, Wyeth Biotech, Pfizer Inc., and Genetics Institute involved significant responsibilities in formulation development, process development, technical services, manufacturing, and CMC management.

James McArthur, PhD, President and CEO of PepGen, expressed confidence in Dr. Kasraian’s ability to navigate the manufacturing and regulatory landscapes, which will be crucial as the company advances its therapies for rare genetic disorders.

PepGen’s EDO platform, which is based on over a decade of research, uses cell-penetrating peptides to enhance the uptake and activity of oligonucleotide therapeutics. The company is working to develop a pipeline of therapeutic candidates targeting the root causes of severe diseases. While the stock has faced significant pressure, declining 66% over the past six months, InvestingPro analysis suggests the company is currently undervalued. Discover more detailed financial analysis and investment insights with an InvestingPro subscription.

Dr. Kasraian’s educational credentials include a PhD in Pharmaceutical Sciences and a BS in Chemical Engineering from the University of Kentucky. This announcement is based on a press release statement from PepGen Inc.

In other recent news, PepGen Inc. announced promising initial data from its FREEDOM-DM1 Phase 1 trial, which evaluates PGN-EDODM1 for myotonic dystrophy type 1 (DM1). The trial showed significant splicing correction in patients, with a mean correction of 29.1% at the 10 mg/kg dose, marking a notable result compared to similar multi-dose trials. Meanwhile, PepGen has temporarily paused its Phase 2 CONNECT2-EDO51 study for Duchenne muscular dystrophy (DMD) to focus on data from the CONNECT1-EDO51 study, expected later in 2025. The company continues discussions with the FDA regarding the CONNECT2 trial and dosing levels.

Additionally, PepGen’s Chief Medical Officer, Michelle L. Mellion, MD, has resigned effective April 4, 2025, with no disagreements cited with the company. Analyst firms H.C. Wainwright and Stifel have both revised their price targets for PepGen to $14, maintaining a Buy rating. Stifel analysts have highlighted the potential for regulatory approval of PGN-EDODM1 based on its promising safety profile and biomarker data. However, they noted a higher degree of risk in the DMD program due to renal safety signals and regulatory uncertainties.

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