Recludix Promotes Key Executives to Drive Next Growth Phase

SAN DIEGO, CA – March 16, 2026 – Recludix Pharma, a clinical-stage company making waves in the treatment of inflammatory diseases, today announced significant promotions within its executive team. The move signals a strategic reinforcement of its leadership as the company builds on a series of major clinical and financial achievements.

Ajay Nirula, M.D., Ph.D., has been promoted to the dual role of president and head of research and development, while Catherine Bovenizer, C.P.A., has been named chief financial officer. The promotions come on the heels of what the company describes as a transformative period, marked by the advancement of its lead drug candidate into human trials and a substantial strengthening of its financial position.

These leadership changes are not just a routine corporate shuffle; they represent a doubling-down on the expertise that has propelled the company forward. In a competitive biotech landscape, the elevation of seasoned leaders like Dr. Nirula and Ms. Bovenizer underscores the company's confidence in its strategy and its readiness to accelerate its innovative pipeline.

“Less than one quarter into the year, and we have already achieved a number of transformative milestones, including the dosing of our oral STAT6 inhibitor REX-8756 in its first clinical study and earning the associated milestone payment, bolstering our cash position through a financing with institutional and strategic investors, and expanding our SAB with thought leaders in the field,” said Nancy Whiting, Pharm.D., chief executive officer of Recludix. “Ajay and Cath have each been instrumental in these recent accomplishments and exemplify the thoughtful execution that will drive our continued growth.”

Strategic Leadership for a Pivotal Moment

The promotions are a testament to the deep experience both executives bring to the table. Dr. Nirula, who joined Recludix in 2024, has a storied career in immunology. Before joining the San Diego firm, he was senior vice president and immunology therapeutic head at Eli Lilly and Company, where he was a central figure in establishing immunology as a major therapeutic area, overseeing the approval of four medicines and the clinical advancement of over ten more. His work at Lilly, Amgen, and Biogen Idec has spanned regulatory filings for major inflammatory diseases like rheumatoid arthritis and psoriasis. His expanded role as president reflects the company's reliance on his vision to guide both scientific strategy and overall corporate direction.

“I am honored to take on the role of president, especially at such a momentous time in the company’s growth,” Dr. Nirula stated. “We have a world-class team and a tremendous opportunity not only to advance our lead STAT6 and BTK inhibitor programs, but also to explore new targets where our platform and expertise can deliver meaningful impact for patients.”

Similarly, Ms. Bovenizer has been a foundational part of Recludix's financial architecture since its inception. With over 25 years in biotech finance, her track record includes navigating the complex financial landscapes of both private and public companies. Notably, she helped guide Ambit Biosciences through its initial public offering and subsequent sale to Daiichi Sankyo, providing the kind of experience that is invaluable for a growing clinical-stage company.

Advancing a New Wave of Inflammation Drugs

At the heart of Recludix's momentum is its innovative drug discovery platform, which is designed to tackle historically "undruggable" protein targets. The company’s primary focus is on SH2 domains, critical signaling nodes in many diseases that have long eluded traditional drug development.

The company's lead asset, REX-8756, is an oral inhibitor of STAT6, a key driver of Type 2 inflammatory diseases such as atopic dermatitis and asthma. In January 2026, Recludix began a Phase 1 clinical trial for REX-8756, triggering a $20 million milestone payment from its partner, Sanofi. This is part of a major collaboration where Sanofi will handle later-stage development and commercialization, while Recludix retains a lucrative option for an equal U.S. profit-and-loss share.

The promise of REX-8756 lies in its potential to offer an oral therapy with the effectiveness of injectable biologics, a significant advantage in patient convenience. Preclinical data showed the drug achieved efficacy comparable to antibody treatments while demonstrating high selectivity.

Beyond its lead program, Recludix is also advancing a potential first-in-class inhibitor targeting the SH2 domain of Bruton's tyrosine kinase (BTK). This program is aimed at B cell and mast cell-driven diseases like chronic spontaneous urticaria (CSU). By targeting the SH2 domain instead of the kinase domain, Recludix believes its inhibitor can offer superior selectivity and avoid off-target effects that have plagued some earlier-generation BTK inhibitors.

Navigating a Competitive and High-Stakes Market

Recludix is entering a dynamic and competitive field. The race to develop an effective oral STAT6 inhibitor is heating up, with companies like Kymera Therapeutics advancing a STAT6 degrader. Recludix's approach as an inhibitor rather than a degrader could prove to be a key differentiator in its mechanism and clinical profile.

In the BTK inhibitor space, the competitive bar was recently set high by Novartis, which received FDA approval for its oral BTK inhibitor, Rhapsido, for chronic spontaneous urticaria in September 2025. While this establishes a new standard of care, it also validates the therapeutic approach. Recludix's strategy hinges on demonstrating that its highly selective SH2 domain-targeting molecule can provide a superior safety and efficacy profile compared to existing kinase-focused therapies.

The company’s unique drug discovery engine—integrating custom DNA-encoded libraries (DELs), massively parallel screening, and an AI/ML collaboration with Eli Lilly—is its core advantage in this competitive arena. This platform allows Recludix to rapidly identify potent and selective molecules against challenging targets that others have failed to drug.

Fortified Finances and Strategic Alliances

Underpinning the company's clinical ambitions is a robust financial foundation. The recent milestone from Sanofi adds to the $145 million in payments received to date under that collaboration. This non-dilutive funding is complemented by significant equity investment.

In January 2026, Recludix completed a financing round led by its existing institutional investors, which notably included a new strategic investment from Eli Lilly and Company. To date, the company has raised $123 million in equity, providing a substantial cash runway to advance its pipeline through key clinical milestones.

This blend of strategic partnerships with pharmaceutical giants like Sanofi and Lilly, combined with strong backing from venture capital, provides both financial security and external validation of its science. As the new CFO, Ms. Bovenizer is tasked with managing this strong capital position to maximize value.

“The leadership team has built a strong foundation for success, with a company that is well-capitalized to achieve value-creating milestones and a portfolio of product candidates that includes a partnered program with the option for an equal U.S. profit split, alongside fully owned opportunities that provide maximal strategic flexibility,” Ms. Bovenizer commented. “Having led finance operations since the company’s founding, I look forward to continuing to support our strategy of quickly advancing initiatives that accelerate growth in lockstep with focused execution.”