SNY - Pfizer spinout Cerevel names Bain Capital partner Ron Renaud as new CEO

2023-05-03 06:56:43 ET

Pfizer ( PFE ) spinout Cerevel Therapeutics ( NASDAQ: CERE ) on Wednesday named Ron Renaud, a former Partner of Bain Capital Life Sciences its new chief executive, effective June 12, 2023.

Renaud will replace Tony Coles, 62, who will step down from his leadership position next month following a four-year stint as CEO.

“I am delighted to welcome Ron to Cerevel as our next CEO, as I know that his leadership, experience, and expertise are ideally suited for this next phase of our journey to transform what is possible in neuroscience,” Coles, who joined Cerevel ( CERE ) in 2018 said.

Renaud was a former CEO of mRNA therapeutics company Translate Bio which was acquired by Sanofi ( SNY ) in 2021.

Coles, a biotech veteran, will continue to function as the chairperson of the company’s board of directors.

Pfizer ( PFE ) and Bain Capital established CERE in 2018 when the pharma giant spun out its neuroscience division which housed experimental therapies targeted at conditions such as schizophrenia, Parkinson’s disease, and epilepsy.

Separately, Cerevel ( CERE ) announced its Q1 2023 results on Wednesday.

More on CERE

• Cerevel Therapeutics falls as Perceptive Advisors says not aware of talks
• Cerevel Therapeutics: CNS Specialist's Delayed Readouts A Potential Red Flag

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