PhoreMost makes key appointments to Board to advance development of next-generation degrader therapeutics

Cambridge, UK, 7 May 2025: PhoreMost Ltd., a next-generation targeted protein degradation (TPD) company progressing a pipeline of degrader therapeutics within oncology and inflammation, today announced Barbara Duncan has joined its Board as Chair, and Stephen Dilly as Non-Executive Director. The appointments bring extensive commercial and leadership expertise to support the continued progression of the Company’s novel degrader programmes towards clinical development and the commercialisation of its GlueSEEKER® platform, informing molecular glue design for unprecedented targets.

Barbara Duncan is an accomplished biopharma professional with an impressive executive and non-executive portfolio career. With over 25 years’ leadership experience, she has contributed her notable corporate finance background to a series of high-profile exits as board director, including Fusion Pharmaceuticals’ $2.4 billion acquisition by AstraZeneca (2024), Immunomedics’ $21 billion acquisition by Gilead (2020), and Jounce Therapeutics’ $96 million sale to Concentra Biosciences (2023). Barbara has led companies through IPOs totalling over $140 million, raised $1.5 billion in financing, and oversaw multiple strategic exits, demonstrating broad expertise in finance, M&A, and operational scaling for small molecule and oncology-focused platforms. Barbara currently also serves on the boards of Convergent Therapeutics, Halozyme, Atea Pharmaceuticals, and OVID Therapeutics.

Stephen Dilly has a strong track record of advancing multiple therapeutic programmes through clinical development and taking several companies to exit, with total transactions valued at over $4 billion. He has held C-level, VP and board positions across an established portfolio of therapeutic and platform companies, including Genentech, Chiron, and Aimmune Therapeutics, where he led the company through IPO and development into a phase III biopharmaceutical business. Stephen held a pivotal role in the FDA approval of Aimmune’s peanut allergy drug, Palforzia, and subsequently supported the company’s $2.4B acquisition by Nestlé Health Sciences. He brings deep oncology experience, and as CEO of Sierra Oncology, was instrumental in advancing the lead programme, Momelotinib, through Phase III trials and overseeing its $1.9B acquisition by GSK (2022). Stephen currently serves as CEO and Chair of Codexis.

PhoreMost’s Founder and former Chair, Dr Chris Torrance will continue to serve on the PhoreMost board as Non-Executive Director.

Welcome to both Barbara and Stephen, we are delighted for them to join the Board. Their exceptional strategic and commercial leadership will be invaluable as we continue to progress differentiated degrader assets and commercialise our GlueSEEKER platform, which has recently passed significant chemical translation milestones. And of course, a big thank you to Chris for all he has done, and continues to do for PhoreMost as we progress in our mission to develop the next generation of therapies.
Dr Neil Torbett, CEO, PhoreMost

The PhoreMost team has made excellent progress in developing novel therapeutic approaches within the field of TPD. With its impressive capital raised to date and the calibre of its industry partnerships, the team is making strong headway with its pipeline of degrader-based therapeutics, and I look forward to working closely with them to support the Company’s continued growth.
Barbara Duncan, Chair and Non-Executive Director, PhoreMost

TPD is a rapidly expanding and evolving modality, which has the potential to transform treatment for patients with currently untreatable conditions. This is a fantastic time to join PhoreMost and be a part of the team as they continue to address key challenges with molecular glue discovery, enabling the development of novel degrader-based therapeutics to revolutionise the future of medicine.
Stephen Dilly, Non-Executive Director, PhoreMost