Rallybio has hired Steven Tuch to lead corporate development. Tuch arrives at Rallybio on the back of almost nine years at BMO Capital Markets that saw him rise to the position of head of U.S. equity capital markets originations.
At Rallybio, Tuch will apply experience gained in the financial sector, including earlier spells at Cantor Fitzgerald and Deutsche Bank, to the biotech’s financing and capital allocation strategies. Tuch will also work with colleagues in business development to assess Rallybio’s potential deals, partnerships and acquisitions. Rallybio sees Tuch’s experience as a good fit for the role.
“Steven’s impressive track record and broad range of industry experience advising various healthcare and biopharmaceutical companies on their financial strategy will play a crucial role in the growth of Rallybio as we continue to advance our pipeline and expand our portfolio,” Steve Uden, Rallybio co-founder and chief operating officer, said in a statement.
Tuch arrives at an organization that is deploying the $145 million it raised last year to advance a rare disease pipeline led by a treatment for fetal and neonatal alloimmune thrombocytopenia. The lead drug, RLYB211, entered a first-in-human clinical trial late last year.
Investors including Canaan Partners, 5AM Ventures, F-Prime Capital and Viking Global Investors have funded the work to date. Tuch, having raised over $20 billion for clients at BMO, will help Rallybio pull in more money as it seeks to build on the progress it has made so far.
Many of Rallybio’s other high-profile hires have covered employees who bolster its drug acquisition capabilities to continue growing its portfolio. Tuch will help assess whether future deal opportunities are a good use of Rallybio’s money.