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Cambridge, Mass., Wednesday, June 11, 2020– Praxis Precision Medicines, a clinical-stage, genetic neuroscience company, today announced the promotion of Stuart Chaffee, Ph.D., to chief financial officer, effective immediately. Dr. Chaffee previously served as chief business officer of Praxis since the company’s founding, and in his new role, will be responsible for all finance and accounting activities for the company.
“I am thrilled to announce Stuart’s well-deserved promotion,” said Marcio Souza, president and chief executive officer of Praxis. “Stuart has been a vital member of our leadership team and instrumental in our progress to date, including helping advance our business and financial operations and successfully raising more than $100 million in private equity to fund an innovative pipeline. The combination of Stuart’s experience in finance, business operations and corporate development, along with the depth of his scientific prowess in CNS drug development, will be invaluable as we work to change the treatment landscape in neurology and psychiatry.”
“I am delighted to take on this new role and look forward to further contributing to Praxis’ strategic, financial and operational initiatives as we continue to build a leading CNS therapeutics company,” said Dr. Chaffee. “This is an exciting time for Praxis, and we are dedicated to advancing a high-impact pipeline of treatments, led by multiple Phase 2 programs, that could fundamentally alter the treatment path and outcomes for patients with brain disorders.”
Prior to Praxis, Dr. Chaffee was an entrepreneur-in-residence with Atlas Venture where he co-founded Kymera Therapeutics. He previously held several senior-level roles in finance, business development, program leadership and corporate strategy at Biogen, and served as an associate at Leerink Partners. Earlier in his career he led several oncology and neurology programs at Amgen. Dr. Chaffee received a Ph.D. in organic chemistry from Yale University and an MBA from the Wharton School at the University of Pennsylvania.
About Praxis Precision Medicines
Praxis Precision Medicines is a clinical-stage genetic neuroscience company developing breakthrough therapies for patients and families affected by complex and debilitating brain disorders, including psychiatric disorders, movement disorders and rare pediatric epilepsies. These disease areas share overlapping genetics and neurocircuit biology, as well as a profound need for new therapeutic options that target the underlying cause of the disease. Praxis is advancing a pipeline of breakthrough medicines with the potential to more precisely treat brain disorders, led by PRAX-114, a GABAA positive allosteric modulator in Phase 2 development for the treatment of major depressive disorder and perimenopausal depression, and PRAX-944, a T-type calcium channel blocker, in Phase 2 development for the treatment of essential tremor. For more information, please visit www.praxismedicines.com
Alicia Davis, THRUST Strategic Communications