Kronos implements new leadership structure, eliminates CMO, CSO, COO roles

Kronos Bio announced a streamlined leadership structure designed to focus on pipeline advancement and align with Kronos Bio’s current operating needs. As part of this effort, Kronos Bio has eliminated three executive officer roles including the Chief Medical Officer, Chief Scientific Officer, and Chief Operating Officer and General Counsel. As a result, Jorge DiMartino, M.D., Ph.D., Christopher Dinsmore, Ph.D., and Barbara Kosacz, J.D., will be departing the Company. To ensure a smooth transition, they will remain with the Company through February 16, 2024. All three executives will remain strategic advisors to Kronos Bio. The Executive Leadership team, reporting to Dr. Bischofberger, now includes: Charles Lin, Ph.D., Senior Vice President, Research and Development; Elizabeth Olek, DO, Senior Vice President, Clinical Development; Rocio Martin Hoyos, Senior Vice President, Corporate Strategy and Portfolio Management; Allison Frisbee, Senior Vice President, Corporate Operations and Legal/ Each of these leaders brings robust and diverse experience with a focus in oncology. Kronos Bio has expected cash runway into 2026. Information regarding severance and related benefits for those employees whose roles have been eliminated are set forth in a Current Report on Form 8-K, being filed with the Securities and Exchange Commission approximately concurrently with the issuance of this press release. After realizing these one-time termination costs, Kronos Bio anticipates that it will realize financial savings from its new operating model.