Climb Bio appoints Susan Altschuller as chief financial officer

Climb Bio, Inc. (NASDAQ:CLYM) announced the appointment of Susan Altschuller, Ph.D., MBA, as chief financial officer and treasurer, effective Wednesday. Dr. Altschuller will serve as the company’s principal financial officer.

According to a press release statement based on a filing with the U.S. Securities and Exchange Commission, Dr. Altschuller, 44, previously held chief financial officer roles at Dragonfly Therapeutics, Cerevel Therapeutics, and ImmunoGen. She also held finance and investor relations positions at Alexion Pharmaceuticals, Bioverativ, and Biogen. Dr. Altschuller holds a BSE in biomedical engineering from Tulane University, a Ph.D. in biomedical engineering from the Illinois Institute of Technology, and an MBA from the MIT Sloan School of Management.

Dr. Altschuller’s employment terms include a base salary of $510,000 per year and eligibility for an annual discretionary bonus up to 40% of her base salary. She has been granted a stock option to purchase 600,000 shares of Climb Bio common stock at the closing price on the effective date, under the company’s 2025 Inducement Plan. The option will vest as to 25% of the shares on the first anniversary of her start date, with the remainder vesting in 36 equal monthly installments, subject to continued service.

If Dr. Altschuller’s employment is terminated without cause or she resigns for good reason, she is eligible for severance payments and continued health coverage, with terms varying depending on length of employment and whether a change in control has occurred. She will also enter into confidentiality, inventions assignment, non-competition, and non-solicitation agreements, as well as an indemnification agreement.

With Dr. Altschuller’s appointment, Cindy Driscoll, Climb Bio’s senior vice president of finance, ceased to serve as principal financial officer but remains the company’s principal accounting officer.

Additionally, the board approved an amendment to the 2025 Inducement Plan, increasing the number of shares reserved for issuance from 1,250,000 to 2,000,000.

All information is based on a press release statement and the company’s SEC filing.

In other recent news, Climb Bio has reported promising preclinical data for its IgA nephropathy drug, CLYM116. The experimental antibody demonstrated superior performance, showing a longer half-life and deeper IgA reduction in nonhuman primate studies compared to the first-generation monoclonal antibody, sibeprenlimab. This comes as BTIG raised its price target for Climb Bio from $7 to $8, highlighting the potential best-in-class features of CLYM116. Oppenheimer also reiterated its Outperform rating with a $10 price target, emphasizing the promising results of the company’s anti-APRIL sweeper antibody. Additionally, Climb Bio announced the appointment of Susan Altschuller as the new Chief Financial Officer. Altschuller brings over 20 years of financial leadership experience, having previously served as CFO at Cerevel Therapeutics and ImmunoGen. These developments reflect Climb Bio’s ongoing efforts to advance its therapeutic pipeline and strengthen its leadership team.

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