Sitryx names Adam Mostafa as chief financial officer

OXFORD/BOSTON - Sitryx Therapeutics, a clinical-stage biopharmaceutical company developing oral therapies for autoimmune and inflammatory diseases, appointed Adam Mostafa as Chief Financial Officer, effective Monday.

Mostafa brings over 25 years of experience in biotechnology capital markets, mergers and acquisitions, and business development. He previously served as CFO at X4 Pharmaceuticals (NASDAQ:XFOR), where he led the company’s reverse merger with Arsanis in 2019 resulting in a Nasdaq listing, and supported the FDA approval and launch of XOLREMDI.

Prior to X4, Mostafa was CFO at Abpro Holdings (NASDAQ:ABP), which currently has a market capitalization of $221 million and maintains a healthy current ratio of 3.21. According to InvestingPro data, the company trades at a P/E ratio of 13.6 with a gross profit margin of 31.4%. He currently serves on the board of Satellos Bioscience (TSX:MSCL) and Precision Biologics, while acting as Senior Advisor to Cumberland Pharmaceuticals (NASDAQ:CPIX).

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His earlier career included positions at several financial institutions, including Managing Director in healthcare investment banking at Cantor Fitzgerald and Senior Banker at Needham & Company. Mostafa holds a Bachelor’s degree in Economics from Brown University.

"His extensive financial expertise, strategic leadership, and broad experience across the healthcare sector will be invaluable as we enter our next phase of growth," said Iain Kilty, Chief Executive Officer of Sitryx, in a press release statement.

Sitryx, established in 2018, has raised $85 million to date from investors including SV Health Investors, Sofinnova Partners, Oxford Science Enterprises, Longwood Fund, Eli Lilly and Company, and GSK. The company is developing a pipeline of small molecule candidates for autoimmune conditions, with its lead candidate SYX-5219 targeting atopic dermatitis. Based on InvestingPro’s Fair Value analysis, ABP currently appears undervalued, suggesting potential upside for investors interested in the biotech sector.

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