UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 2, 2022, Rallybio Corporation (Rallybio) announced that Jeffrey M. Fryer will retire as Rallybio’s Chief Financial Officer (CFO). Mr. Fryer is a co-founder of Rallybio, and helped create and build Rallybio’s operations from its inception to a clinical stage publicly-traded biotechnology company advancing a rare disease pipeline portfolio. Mr. Fryer will continue to serve as Rallybio’s CFO until a new CFO has been appointed, and he will retire from the company following a transition period to be determined. A search to identify Rallybio’s next CFO has been initiated. Mr. Fryer and Rallybio expect to enter into a confidential release and separation agreement at the time of his date of departure from Rallybio.
Item 9.01. Financial Statements and Exhibits.
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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RALLYBIO CORPORATION |
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June 2, 2022 |
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/s/ Jeffrey M. Fryer |
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Jeffrey M. Fryer, CPA |
Exhibit 99.1
Rallybio Announces Retirement of Jeffrey Fryer, CPA, Chief Financial Officer
--Company initiates an external search for its next Chief Financial Officer--
NEW HAVEN, Conn., June 2, 2022 – Rallybio Corporation (Nasdaq: RLYB), a clinical-stage biotechnology company committed to identifying and accelerating the development of life-transforming therapies for patients with severe and rare diseases, today announced that Jeffrey Fryer, CPA, will retire from his position as Chief Financial Officer (CFO). Mr. Fryer will continue to serve as Rallybio’s CFO until a new CFO has been appointed and will retire from the Company following a transition period. Rallybio has initiated an external search to identify its next CFO.
“On behalf of the Board of Directors, co-founder Steve Uden, and the Rallybio team, I would like to thank Jeff for his dedication and contributions over the last four years in helping to create, build and transform Rallybio into a publicly traded company. He has been such a great friend, colleague and valued counselor to both Steve and me. We appreciate his leadership and partnership in executing our vision of a rare disease company as a co-founder of Rallybio, and wish him all the best.” said Martin Mackay, Ph.D., Chief Executive Officer of Rallybio.
Mr. Fryer commented, “It has been an honor and privilege to work with my co-founders Martin and Steve, and it has been a highly rewarding experience working with Rallybio’s devoted and talented team over the past four years. With a growing pipeline and our strong financial position, I believe that now is the right time for me to retire from the Company and to pursue a few other ambitions that I have. I am fully committed to ensuring a smooth transition and look forward to following the continued success of the Rallybio team.”
About Rallybio
Rallybio is a clinical-stage biotechnology company committed to identifying and accelerating the development of life-transforming therapies for patients with severe and rare diseases. Since its launch in January 2018, Rallybio has built a portfolio of promising product candidates, which are now in development to address rare diseases in the areas of hematology, immuno-inflammation, maternal fetal health, and metabolic disorders. The Company’s mission is being advanced by a team of highly experienced biopharma industry leaders with extensive research, development, and rare disease expertise. Rallybio is headquartered in New Haven, Connecticut, with an additional facility at the University of Connecticut’s Technology Incubation Program in Farmington, Connecticut. For more information, please visit www.rallybio.com.
Forward-Looking Statements
This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on currently available information. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements concerning the timing of appointing a new Chief Financial Officer, and the length of an executive transition period. The forward-looking statements in this press release are only predictions and are based largely on management’s current expectations and projections about future events and financial trends that management believes may affect Rallybio’s business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, our ability to successfully initiate and conduct our planned clinical trials, including the FNAIT natural history study, and the Phase 1 and 1b clinical trials for RLYB212 and the Phase 1 study for RLYB116, and complete such clinical trials and obtain results on our expected timelines, or at all, whether our cash resources will be
sufficient to fund our operating expenses and capital expenditure requirements and whether we will be successful raising additional capital, our ability to identify new product candidates and successfully acquire such product candidates from third parties, our ability to integrate RLYB331 into our pipeline, competition from other biotechnology and pharmaceutical companies, and those risks and uncertainties described in Rallybio’s filings with the U.S. Securities and Exchange Commission (SEC), including Rallybio’s Quarterly Report on Form 10-Q for the period ended March 31, 2022, and subsequent filings with the SEC. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual future results, levels of activity, performance and events and circumstances could differ materially from those projected in the forward-looking statements. Except as required by applicable law, we are not obligated to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.
Investor Contact
Steven Tuch
Head of Corporate Development
415-218-0697
stuch@rallybio.com
Ami Bavishi
Head of Investor Relations and Communications
609-477-4536
abavishi@rallybio.com
Hannah Deresiewicz
Stern Investor Relations, Inc.
212-362-1200
hannah.deresiewicz@sternir.com
Media Contact
Tara DiMilia
908-369-7168
Tara.dimilia@tmstrat.com