Latest / The BioHub - by Avetix / Episode 122 - Todd Zavodnick - CEO of Excellergy

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Episode 122 - Todd Zavodnick - CEO of Excellergy · The BioHub - by Avetix

• 0:06
  Welcome to the Biohub podcast. I'm joined by Todd Zavodnik, A
• 0:10
  seasoned life Sciences Executive and Chief Executive Officer of
• 0:13
  Xselegy with over 25 years of global leadership experience
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  across biotech and pharma organizations.
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  Today, we're diving into his journey as a biotech leader and
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  his vision for transforming treatment paradigms and allergy
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  and immunology. So let's get into it.
• 0:27
  Welcome, Todd. It's a pleasure to have you on.
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  Thank you. It's great to be here.
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  Appreciate you guys having me. Yeah, absolutely.
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  So yeah, I just wanted to jump straight in here.
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  Are you able just to kind of walk us through your career
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  journey and background? Yeah, absolutely.
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  So I grew up in the Northeast part of the United States in
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  Philadelphia, PA, you know, did all of my schooling there and,
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  and studied pharmacy at the University of Rutgers and in the
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  State University of New Jersey. And, and then really started my
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  career, you know, kind of in industry, first in ophthalmology
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  and, and one of the market leaders in Alcon labs or Alcon
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  pharmaceutical. And then moved on, really just
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  in a global roles, you know, with Alcon living in Asia and
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  then eventually transitioning into dermatology and immunology
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  across Europe, Latin America, and then back to the United
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  States. The last year's I've done
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  smaller startups both most recently was CEO of Dermavant.
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  Dermavant was a subsidiary of Royvant.
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  We transacted the company in November of 20252024 actually
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  and sold that to Oregon for 1.2 billion.
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  And then you know for the last year now I've been the CEO of
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  Excelergy here. It's a immunology focused
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  biotech start up in the space of allergy where we're developing
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  antibodies and and proteins for patients suffering from allergic
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  disease. Amazing.
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  Such a a variety of career, not only just across the US,
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  obviously globally as well and different therapeutic areas as
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  well. So what what made you kind of
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  get into the allergy space most recently?
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  I, you know, I, I think in my career, I just like challenges
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  and I, and I think for me, you know, it, it starts with people.
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  I think the most intriguing piece to me were our investors
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  in our Series A, both the leaders at Red Tree Samsara and
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  the Chang Ventures and really just good, a good board and good
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  leadership and also a good team at Excelergy.
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  So when you look at the people and then, you know, I think in
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  biotech, one of the key things that I look at is when I, I do
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  my own due diligence is where are the disease states going?
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  You know, where are they at today and where are they going
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  to be over the next 10 to 20 years?
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  And, and how much of an impact can we make in, in medicine for
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  patients? And I think as I look at
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  allergy, and I'll get into this later, I'm sure, but a lot of
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  the problems are only partially solved.
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  I think there's decent medicines, but there's not a lot
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  of Wows that can truly transform the space in each disease state.
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  And I think with what we're working on here at Excel or G,
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  we have a real shot to to bring some of that wow factor.
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  Yeah, absolutely. And we'll definitely get into
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  that further later. But you did just mention there a
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  couple of times people being, you know, obviously super
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  important in in the space. So people first leadership
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  clearly seems quite important to you.
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  How would you define them and what does it actually look like
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  when you put that into practice? You know, I, I could speak
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  specifically to startup biotech or smaller companies that I've
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  been involved in now for the last 7-8 years is, you know, I
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  always say to everybody, you know, people are everything.
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  And when it comes down to it, especially in biotech startup,
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  you need people that have been there and done it and you need
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  people that have the experience. You also need people that, as I
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  say, I, I use this concept of bimodal thinking, people that
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  have to have the ability to build companies, but understand
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  that, you know, as a startup, anything can happen.
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  And you have to have people that are, you know, somewhat
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  adaptable and agile in a way. And you have to have those
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  schools of thought. So you're building the company
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  the way you were, you're educated and taught through your
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  career of numerous years. And in the same token, you've
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  got to be ready for anything at any moment, at any time and be
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  able to pivot with an open mind. And I think finding those people
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  are business, you know, business critical roles that have those
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  skill sets really make the huge difference as you're building a
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  culture and a company successfully in in startup
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  biotech. Yeah, no, absolutely.
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  Obviously when you are in those smaller companies, you're
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  wearing multiple, multiple hats. You know, I've spoken to people
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  before and that they always say, you know, this is this is the
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  role in AC St. position, but you've also got to be prepared
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  to do the small jobs that even if you need 6 or 80 Acer.
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  So I think obviously not literally, but it is the mindset
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  that you can definitely have. And you know, you've come from
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  big companies, but you've also worked in smaller companies.
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  How, how have you found that transition as moving from from
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  the bigger players to, you know, working in that small, small
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  place? No, it's a great question.
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  And I, and I, I would say it this way, a lot of people that
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  have worked with me or for me have heard me say this.
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  And, and I think, you know, when you're, when you're working in a
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  bigger company and you're part of a larger bureaucratic
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  environment, you know, if things do move slower and you know,
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  there's a lot of consensus building and there's a lot of
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  meetings to discuss problems. And, you know, ultimately it's
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  very difficult at times to find out who holds the D, who holds
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  that decision making power. It's not a negative, it's just a
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  different environment. And it's, it's just more people
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  around the fire contributing to the decision.
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  And it again, that leads to to time.
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  I think, I think for the smaller world of biotech in the smaller
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  company world, which I, which I love, is I use the analogy,
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  you're given sort of a white painting.
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  You know, the painting is blank. You, you will give you the paint
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  and it's really your job to paint that painting and, and
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  create your vision and, and your execution and your mission and,
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  and really make decisions rather quickly and fail fast and then
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  turn around and make other decisions and come back and be
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  accountable and agile and adaptable.
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  And I think not that that's not prevalent in bigger companies.
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  It's just you're able to make a decision, you know, within 24
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  hours. And I think that's probably the
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  biggest thing I tell people is look, if, if we want to make a
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  decision that's best for the company between management and
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  the board, we can do that within an hour, we can do it within 24
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  hours. I think in larger companies,
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  it's not that, you know, good or bad, but that same decision
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  could take months, could take weeks, could take years.
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  It, it really depends on the, the specific company we're
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  talking about. I think speed of decision making
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  and I think really that ultimate level of accountability in that,
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  you know, we're letting you paint the painting, but that,
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  you know, comes with great responsibility knowing that
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  probably your backers are giving you millions of dollars to build
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  a company. And, and you know, just like you
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  don't want to let your parents down when you went to college or
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  school to get good grades at university, you don't want to
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  let your investors down and the people that believe in you.
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  Yeah, no, absolutely. I think that's really a really
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  good point. There's definitely a bit more of
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  a, a track to get a decision made in a larger company, not
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  every single time, but probably about 95% of the time.
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  But in those smaller companies, it can be done so much quicker
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  because there's less hoops to jump through.
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  I, I, I guess in terms of other companies, you know, leaders in,
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  in big companies and small companies can get, still get
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  things wrong even if you, you know, when building high
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  performing teams that can look different in a large company.
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  But if we look at, you know, scaling, you know, a successful
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  business, what, what do you think leaders still do get wrong
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  these days? You know what that's a, that's,
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  it's a, it's a good question. I mean, I, I make mistakes
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  everyday. I, I think, I think one of the
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  things I started with and we, we talked about it once, so I got
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  to start there is, I think when you're hiring your business
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  critical roles, your, your crucial roles, roles, which I
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  say make decisions that could break the company.
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  I've seen, I've seen leaders rush for the sake of maybe an
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  objective that had a time component to it.
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  Maybe the board or management decided they wanted to fill a
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  certain role within a certain period of time and they've
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  rushed to get that objective done.
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  And maybe taking a person or an individual that just wasn't
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  ideal and, and they didn't wait. And I, and I think sometimes
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  waiting some extra months may be worth it or I know it's worth
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  it. So my number one rule is never,
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  never sacrifice or never settle. Always get that a player in
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  business critical roles. You know, I, I think the other
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  thing is you can't do everything.
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  And I think we all as leaders have an idea of what great looks
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  like. And in in startup biotech, you
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  have to really understand what are the critical few objectives
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  that are going to drive value for the company that are going
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  to move these assets forward and closer to patients and are going
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  to make this company just overall more successful.
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  And, you know, more valuable for the employees for them to learn
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  and move forward and develop in their own careers.
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  And that may be 3 or 4 things. It may be two things, but it may
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  not be 15 things. And when you came from maybe
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  bigger companies, you know, doing everything at once was
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  allowable. But you know, really, to me, I
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  think I've seen leaders settle on the wrong people and I see
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  them try to do too much as opposed to focusing on those
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  critical few. And that's a very basic set of
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  feedback. But when it comes time to set
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  objectives and you got to align with your board of directors,
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  you know, sometimes your board wants you to do more.
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  And I think as leadership, it's your job job to push back and
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  say, look, this is what's best to drive value.
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  And here's why with this group of people and when we deliver on
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  this, you know the value of the company is exponentially going
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  to increase. And I and I think that's
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  important as ACEO to be able to verbalize that upward.
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  No, absolutely. And you know you've you've had a
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  successful career doing this obviously from from your
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  previous company Dermavan and now obviously ethics LG you
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  touched on it earlier that exology is in terms of the
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  problem that you're trying to solve here is there is a bit of
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  an unmet need in the allergy space.
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  It's only partially of the way there.
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  So looking at what Xelogy is doing and where they're going,
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  you know, how, how are you, how are you evolving to solve that
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  issue, to solve it? No, it's, it's, you know, for
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  us, it's really. So let's maybe to start with,
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  where is the problem and then how's it being addressed today?
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  I mean, I think the allergy world is, is 1.
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  That's what I, you know, we're more heterogeneous than
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  homogeneous. What do I mean by that?
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  I mean, there's not one solution for each disease.
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  There's multiple medicines, there's multiple therapies,
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  there's multiple nonpharmacologic opportunities.
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  You really have to look at each patient individually.
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  And I think we're we're studying in the world of, you know,
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  antibody and protein and injectable biologics and what,
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  you know, more severe patients that are struggling from
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  diseases like urticaria or prevention of food allergy
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  reaction or asthma and other diseases.
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  What we've seen in the market today is really a space that's
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  had only a few opportunities. You know, you've had Zolair most
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  recently, you've had Dupixent gain the indication for
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  urticaria, you've had rapceto bring it in.
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  Zolair has food allergy. You've only had a few options
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  that we believe, you know, help patients, but they don't fully
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  address the, the, the mechanism around Ige and around really
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  immune cells and really shutting the entire system down.
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  And I, I think for us, as we at Excelergy looked at the problem,
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  our founders, you know, Luke Pennington, Alex Eggle, Ted
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  Jarditsky, and then, you know, later on developing our specific
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  molecules, Doctor Jeff Harris, who's our chief science officer,
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  really looking at the problem of, of allergy and saying, OK,
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  if, if the current medicines are partially addressing the IG
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  axis, what if we were able to control all avenues of that axis
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  and shut it off? What if we could buying free
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  Ige, remove existing Ige off of the effector cells of basophils
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  and mast cells? And ultimately that turned off,
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  you know, those, those effector cells and, and really allow that
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  patient to be freer, faster and in a safer way.
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  And I, and I think for us, that's really how Excelergy was
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  born. It was taking the existing
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  therapies, which are very good, they're not bad and they work
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  for, you know, a portion of the people, but it's not addressing
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  the system completely. And I and I think for us, when
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  you solve a problem, you need to either do something totally
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  different or you need to take the existing therapy and you
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  need to amplify and, and really go to that next level.
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  And I think that's what here at Excelergy with our mechanisms of
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  effector cell response inhibitors, it's what we're
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  doing is taking that logical next step to what Xolair has
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  built foundationally. And we're we're shutting that
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  access off for patients. And and why do you think that
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  matters so much for patients now and in the future?
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  I'll, I'll, I'll pick two specific diseases, I think #1
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  you know, chronic spontaneous urticaria, I can speak, you
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  know, in the US affecting, you know, a percent or more of the
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  population and they're, they're suffering, you know, severe
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  itch, severe discomfort, severe swelling and hives.
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  I mean, these are patients that are miserable and, and they want
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  to feel better now. They want, they don't want to
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  wait months or, you know, three to four weeks to see an effect.
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  They don't want to wait three months to see an effect to know
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  if the medicine works. They want to know within days to
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  weeks and, and they want speed and efficacy.
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  And I, I think that's number one is, you know, we're looking at
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  making patients feel better faster and, and we have to run
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  our clinical trials, but that's the vision when you look at our
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  preclinical compendium of data. I think when you transition to
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  something like food allergy, which another massive prevalent
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  disease where, you know, you have children and teenagers and
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  adults suffering globally, 300 million plus people, you know,
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  20 + 1,000,000 in the United States.
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  And what if I could tell a parent that we shut the allergic
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  cascade in that system off and that child could not react if,
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  God forbid, they came in contact with wheat or with milk or with
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  peanut, you know, or various things that cause some type of
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  food reaction that God forbid could affect their life, you
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  know, and, and hinder it or, or put them in the hospital in, in,
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  in intensive care, God forbid. So I do think, you know,
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  providing this insurance policy on the food allergy side, it can
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  be a can be massive. And from the food allergy
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  physicians and experts globally that we've spoken to, their
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  first comment is, you know, if you transition and show
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  clinically what you've done in the preclinical world to date,
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  you could change the face of treatment with regards to
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  providing the best insurance policy for patients who are
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  concerned about having a mass food allergy reaction.
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  So to me, if I could have urticaria patients feeling
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  better, faster and not being miserable and, and upset, and if
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  I can have a parent and a child feel that they have the best
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  insurance policy when God forbid, there's an accidental
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  exposure. I think we've done a great job
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  at Excelergy. And, and I'll say this, it's not
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  just Excelergy working on this problem.
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  There's a lot of great companies.
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  It's just important we do our part.
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  And I think our part is medicines that I think are going
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  to be tremendous. And, and I believe, and that's
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  why I came here, I believe in what the founders have done.
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  It's extremely good science, but you know, that's why we're now
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  in our phase one trial in in Australia and the ball is
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  rolling. We're injecting patients and and
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  we'll we'll go from here. Amazing.
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  So it's not actually just patients that the work you're
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  doing is affecting, it's actually families as well.
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  You mentioned about having a parent, being a parent to a
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  child that is suffering, but the family of patients are going to
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  see major benefits from there. Yeah, absolutely.
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  And you know, it's, it's, I shared this story, I think a
• 16:54
  month ago with somebody. But in the role one year, I've
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  received multiple emails either directly or, you know, through
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  LinkedIn or other platforms introducing themselves as
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  parents that have children that are severely hindered by food
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  allergy and asking me to get on a zoom call or, or a Teams call
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  and say hello. And, and I didn't, I've never
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  had that in, in ACEO role where a parent reaches out.
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  And when I get on these calls, the the feedback I get is help
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  me understand what Excelergy is doing.
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  And then honestly just saying thank you.
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  Yeah, thank you for putting time in the research.
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  Thank you for expediting where you're at in these trials.
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  You know, we have loads of children that would love to be
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  part of these trials when and if they take place.
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  But we just wanted to say thank you for the work that you're
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  doing it. It means a great deal.
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  And this were families in Switzerland that I've spoken to,
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  families in the United States. It's, it really is emotional and
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  it, it touches home on why you're doing what you're doing
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  outside of just building shareholder wealth and building
• 17:59
  a company and, and, and increasing your overall
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  valuation. It's you realize, you know, when
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  you when you have these conversations, the suffering
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  that's of what's going on out there and what needs to be done
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  by bringing more options and newer options.
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  Yeah, absolutely. Before obviously you said that,
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  you know, you've obviously secured your Series A and you're
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  about to advance a lead asset into phase one.
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  How? How are you prioritizing the
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  science and the commercial strategies you move toward your
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  first in treatment studies? Yeah.
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  No, it's, it's, it's a very good question.
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  So right now we are a clinical stage company.
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  So our lead asset, our monoclonal antibody is, is
• 18:39
  actively in Phase 1. So we are, we are driving our
• 18:43
  phase one clinical trial right now in, in Australia in a phase
• 18:47
  one unit. And the team was just there for
• 18:50
  the last weeks with, with the center and, and with patients.
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  So it's moving forward, you know, so far so good.
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  And, and we'll we'll be going day-to-day on that and watching
• 18:59
  very closely. By the end of 2026, we expect to
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  have our full data read out and and then we'll be moving quickly
• 19:07
  into Phase 2 with that monoclonal antibody.
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  Our second program is our FC fusion protein.
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  It's the same mechanism of action as an effector cell
• 19:17
  response inhibitor, just extremely fast.
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  And so for that asset, we are executing our preclinical work
• 19:24
  in 2026 and then we'll start our phase one trial there in early
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  27. So by the end of this year 26,
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  we'll have a phase two ready lead program and a phase one
• 19:35
  ready secondary program. And then as you asked behind all
• 19:39
  of the clinical and preclinical work, you know we're building a
• 19:43
  brand around Excelergy and around our company and around
• 19:46
  this effector cell response inhibition mechanism of action,
• 19:50
  which a lot of the allergy world is becoming more and more aware
• 19:54
  of. As you know, the recent Jackie
• 19:57
  article where the Journal of Allergy and Clinical Immunology
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  published in October 12th, which talks about the mechanism of
• 20:03
  action and then you're hearing about it more and more.
• 20:06
  We'll have our first poster at the Academy of Allergy, Asthma
• 20:10
  and Immunology, which will be in Philadelphia at the end of
• 20:12
  February and into early March. We'll be there as an
• 20:16
  organization. So I think we're doing it
• 20:18
  building our preclinical and clinical foundation.
• 20:22
  And at the same time letting the world know who Excelergy is and
• 20:26
  why an ECR or an effector cell response inhibitor is really the
• 20:31
  next really this next frontier in life cycle management for
• 20:36
  biologic therapy for allergy suffering patients.
• 20:40
  It sounds like 2026 is going to be a really exciting year.
• 20:43
  So hoping that the data read out will be really positive.
• 20:47
  What would it look like? So if Phase 2 is going to be
• 20:50
  starting in the beginning of next year, 2027, if everything
• 20:55
  goes according to plan, you know, timelines, budgets,
• 20:59
  fundraising, all goes according to plan and all the phases, you
• 21:03
  know, are really positively successful.
• 21:05
  What could that look like and how quickly this drug could come
• 21:08
  to market? Yeah, I mean, that's, that's,
• 21:12
  that's the vision, you know, so you, you, you know, to correct
• 21:16
  one thing you said I always, you know, people that know me laugh,
• 21:19
  but I would laugh. I, I always when you said, well,
• 21:22
  hopefully and I always say, you know, hope is not a strategy at
• 21:26
  all. Execution and preparation and,
• 21:29
  and just micromanagement of, of big rocks is everything.
• 21:33
  So these are big rocks that have to come through for us.
• 21:36
  So you know, I always say what great looks like is we, we
• 21:40
  complete our phase one, we have our readout at the end of the
• 21:43
  year and by mid 2027, you know, we're we're running and you know
• 21:50
  could I don't know the exact number yet because our Chief
• 21:52
  Medical officer, Doctor Phil Brown will decide that.
• 21:55
  But we'll have numerous amount of sites.
• 21:58
  We'll have a disease picked. We'll be globally within our
• 22:00
  clinical trial. I know that for sure.
• 22:03
  And we'll be dosing patients in the back half of 2027 in in a
• 22:07
  phase two trial probably that's built to address hundreds of
• 22:11
  patients, probably well over 100 to 200 patients, you know in
• 22:15
  that realm. And having our phase one with
• 22:18
  our secondary asset, whether that's in the United States or
• 22:22
  another market around the world will be decided.
• 22:25
  So to me it's, it's really 2026 is sort of this phase one
• 22:31
  preclinical stay for both assets and then 2027 is phase two and
• 22:36
  phase one for those same assets. And you know, I think the, the,
• 22:42
  the things as a leader you learn in order to keep your sanity is
• 22:46
  always, always manifest positivity and, and you know,
• 22:50
  you can manifest that. And I think us with our team,
• 22:53
  small team, we constantly are talking about what that looks
• 22:56
  like and, and preparing for every step along the way.
• 23:02
  And then you had said, you know, all the way through the
• 23:04
  commercialization. Well, you know, the standard
• 23:06
  drug takes anywhere between 7 to 10 years for full development
• 23:11
  from the time you first dose within your phase one until the
• 23:14
  time you're you're dosing a patient with FDA or or EMEA or
• 23:19
  other approval around the world. And so we'll have to see, you
• 23:22
  know, that puts us in the early sides of twenty 30s and you
• 23:27
  know, still very exciting and a lot of need as I look in these
• 23:31
  disease states from 2030 to 2050 and as I started this session
• 23:36
  with it's really where the ball is.
• 23:38
  These markets are growing and there's a lot of need and it's
• 23:41
  going to be even bigger by the time we get to the period of
• 23:44
  when we're. Approved.
• 23:45
  Amazing. Perfect.
• 23:47
  Well, thank you so much, Todd for taking the time to speak
• 23:50
  with us today. It's been a pleasure having you
• 23:52
  on learning about Xela G. We are very excited to
• 23:56
  completely follow this journey with you and hoping that
• 23:59
  everything goes well with your phase one clinical trial.
• 24:02
  No, thank you very much for having me.
• 24:03
  It was a real pleasure. And you know, we'll be, we'll be
• 24:06
  working hard at Excelergy for for all allergy patients around
• 24:09
  the world. Amazing.
• 24:10
  Thank you so much. All right, take care.
• 24:12
  Bye bye.