On June 15, 2020 AbGenomics Holding Inc., a clinical stage biotech company, announced today that the company will be operating under a new name, AltruBio Inc., effective immediately (Press release, AltruBio, JUN 15, 2020, View Source [SID1234572765]). Its headquarters will remain in Redwood City in the San Francisco Bay Area, and its Taiwanese subsidiary will also reflect the rebranding operating under AltruBio Taiwan, Inc.
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The new name reflects a refocusing of the company with recent changes to its management team, board of directors, and overall strategy. Over the past year, under the leadership of Chairman Dr. Patrick Y. Yang, who is an industry veteran, the company recruited a new slate of directors with depth and breadth of experience in the biopharmaceuticals industry. In December, the company announced the hiring of Dr. Judy Chou as President and Chief Executive Officer. Since starting in January, Dr. Chou has revamped the company, focusing on its autoimmune disease pipeline and the potential to quickly realize value for patients and stakeholders in the Steroid-refractory acute Graft versus Host Disease (SR-aGVHD) space.
President and CEO, Dr. Judy Chou, stated "I am pleased to announce the rebranding of the company to AltruBio Inc. This reflects the new beginning the company has made and the values it seeks to uphold. The name speaks for our belief that our drugs should truly benefit the patients in an altruistic way with the desirable efficacy without compromising safety. It also represents our operations for being ‘all true’ to our patients, investors, partners, and employees"