Transcode Therapeutics CEO Michael Dudley resigns

TransCode Therapeutics reported further steps in its previously-announced restructuring. The restructuring is intended to further reduce expenditures and enable greater concentration of company resources on a planned Phase 1 clinical trial for its lead therapeutic candidate, TTX-MC138. The restructuring follows a strategic review of the company’s operations to identify areas in which it could delay or reduce expenditures, including a previously announced reduction in headcount. In connection with the restructuring, TransCode’s co-founder and CEO, Michael Dudley, announced his retirement. He will resign as an executive officer and director of the company effective January 13. Tom Fitzgerald, currently CFO and a director of TransCode, will become interim CEO. Fitzgerald will continue as TransCode’s CFO, a position he has held since July 2018. In connection with the restructuring, TransCode’s board also elevated Zdravka Medarova, currently CTO, to the role of chief scientific officer. Medarova is expected to become increasingly active in partnership and collaboration discussions as well as overseeing TransCode’s science and intellectual property activities. Philippe Calais, currently chairman of the board of directors, will assume the position of executive Chairman.