Edward Shadek, Jr., former deputy chief of Investments at Putnam, brings wealth of financial acumen as company prepares for clinical trials
SAN DIEGO, Aug. 15, 2022 /PRNewswire/ — Leucadia Therapeutics, a company working to cure Alzheimer’s disease with a medical device implanted by minimally invasive surgery, has hired a chief financial officer with deep investment management experience to ensure the company has the resources it needs as it anticipates clinical trials.
Newly named CFO Edward (Ned) Shadek, Jr., has spent more than 35 years as a manager and strategist guiding investment decisions at both large international and boutique funds. In these roles he assessed the value of hundreds of start-ups and identified resources needed to fuel their success.
"We’re thrilled that someone so experienced in picking winners and losers has chosen to become part of the Leucadia Therapeutics team," said Doug Ethell, the company’s founder and CEO. "Ned’s experience in identifying what young companies need to flourish is critically valuable as we prepare to take the next critical steps in our journey towards a cure for Alzheimer’s disease."
A Harvard MBA, Shadek spent 17 years at Putnam Investments, which has over $183 billion in assets under management. At Putnam, he spent six years as senior managing director and deputy head of investments and six years as chief investment officer of small/mid cap equities. He also was a partner and director of portfolio strategy at the $10 billion Newbold’s Asset Management. During his career, he has worked with large-, small- and mid-cap funds, and has managed boutique investment and hedge funds. Earlier, he was a certified public accountant and auditor with Price Waterhouse.
"After years of picking companies with the greatest promise for investors in our funds, I immediately recognized that Leucadia Therapeutics was special because it has the vision and science to potentially make a huge impact on Alzheimer’s disease, for which no cure exists," said Shadek. "More than $30 billion has been dumped into thousands of failed clinical trials for pharmaceutical therapies. Leucadia’s revolutionary approach to Alzheimer’s offers real promise for the millions who have been devastated by this disease."
Leucadia Therapeutics is a pre-clinical-stage company focused on diagnosing, treating and curing Alzheimer’s disease. The company’s proprietary Arethusta® medical device is designed to restore the flow of CSF through the cribriform plate to flush toxins away from the part of the brain where Alzheimer’s disease first appears. The Arethusta implantation is easily reversible.
Leaucadia Therapeutics is taking a different approach to Alzheimer’s disease, which afflicts 44 million people and nearly one in 10 people over 70. Over the past three decades, more than $30 billion has been invested in 2,300 clinical trials for medicines to treat the disease. None were able to slow or halt its relentless progression. Studies suggest Leucadia’s implantable device will prevent Alzheimer’s disease from developing, and may even reverse it in people who already have it.
For more information, visit Leucadia Therapeutics.
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SOURCE Leucadia Therapeutics