ElevateBio Appoints David Hallal As Executive Chairman Of The Board of Directors

ElevateBio, a technology-driven company focused on advancing genetic medicines, announced leadership transitions within its executive team. David Hallal, who has served as Chairman and CEO for nearly eight years, will move to the role of Executive Chairman of the Board of Directors. Under his leadership, ElevateBio has established itself as the world’s first and only genetic medicines foundry, building cutting-edge technologies and manufacturing capabilities. These innovations have enabled the company to work with a wide range of organizations, from large multinational pharmaceutical companies to early-stage biotech firms, helping them develop therapeutics more efficiently, faster, and with greater capital effectiveness.

David Hallal explained, “This transition to Executive Chairman arrives at a time of great strength with ElevateBio serving a large number of biopharmaceutical partners through our innovative technology and manufacturing platforms. We have built a strong team of executives and employees with industry-leading expertise in developing and manufacturing genomic medicines. I look forward to working closely with the team and overseeing a smooth transition to a new CEO who can continue to scale our business and accelerate the development of these advanced therapies to patients.”

Khalil Barrage, Managing Director of The Invus Group and Member of ElevateBio’s Board of Directors, stated “On behalf of the Board of Directors at ElevateBio, we appreciate the leadership David and Vikas have demonstrated since inception of the company nearly eight years ago and look forward to their continued leadership on the Board.”

Ansbert Gadicke, Co-Founder of MPM Capital and Member of ElevateBio’s Board of Directors, mentioned, “David and Vikas built ElevateBio into an industry leader in cell and gene therapy. With consistent revenue growth and a strong balance sheet, the Company has the strategic and financial flexibility to scale for many years to come.”

In another leadership change, Vikas Sinha will step down as Chief Financial Officer but will continue to serve as a member of the Board and Chair of the Audit Committee. Bhakti Bhargava has been appointed as the new Chief Financial Officer. Bhargava has been with ElevateBio since its early days, having joined the company in 2018 and leading its finance team. With over 20 years of experience in the biotech, consulting, and financial services industries, Bhakti previously served as Head of Global Commercial Finance at Alexion Pharmaceuticals and worked at J.P. Morgan in roles focused on strategy, business management, and treasury.