Thryv's Gambit: New CBO Signals a Race to Commercialization

MONTREAL, QC – December 02, 2025

In a move that speaks volumes about its future ambitions, Montreal-based Thryv Therapeutics has appointed Dr. Matt Killeen as its new Chief Business Officer. While leadership changes are common in the fast-paced biotechnology sector, this particular appointment is a clear strategic signal. By bringing in an executive with a formidable track record in corporate strategy, deal-making, and successful exits, Thryv is telegraphing a decisive shift from a purely research-focused entity to one gearing up for the high-stakes world of commercialization and strategic partnerships.

The timing is critical. In January, the privately-held company is set to begin enrollment for a pivotal Phase 2/3 clinical study for its lead drug candidate targeting Long QT Syndrome Type 2 (LQT2), a rare and life-threatening cardiac arrhythmia. This hire isn't just about filling a seat; it's about bringing in a seasoned navigator to steer the company through the most crucial—and valuable—phase of its journey.

A Calculated Move Beyond the Lab

Dr. Killeen is not a typical R&D leader. His career is a blueprint for transforming scientific innovation into tangible business outcomes. With nearly two decades of experience at companies like Biogen and BioMarin, his expertise lies at the intersection of deep science and shrewd corporate strategy. At BioMarin, he founded the precision cardiology therapeutic area, building a portfolio of genetic therapies through both internal development and strategic partnerships—a skill set directly applicable to Thryv's goals.

His most telling achievement, however, comes from his tenure as the first Chief Scientific Officer at Renovacor. There, he advanced a lead gene therapy for genetic cardiomyopathy and was a key figure in driving the company's acquisition by Rocket Pharmaceuticals in a deal valued at approximately $53 million. This history of guiding a cardiac-focused biotech toward a successful M&A event has not gone unnoticed by industry observers. It suggests that Thryv's board is not only focused on clinical success but is also planning for the strategic endgame.

"Matt brings an outstanding track record in strategic business development and operational leadership, and his impact will be pivotal as we accelerate the momentum of our SGK1 inhibitor program," said Paul F. Truex, Chairman & CEO of Thryv Therapeutics, in a recent statement. This endorsement underscores that Killeen's role is fundamentally about acceleration—compressing timelines for development, partnerships, and ultimately, market entry.

The Science of SGK1: Targeting the Heart's Hidden Driver

At the core of Thryv's strategy is a novel class of drugs known as serum glucocorticoid inducible kinase 1 (SGK1) inhibitors. SGK1 is a protein that acts as a central hub for cellular stress signals. In cardiovascular diseases, its chronic activation contributes to a cascade of negative effects, including inflammation, fibrosis (scarring), and dangerous electrical remodeling of heart cells. By regulating ion channels, overactive SGK1 can prolong the heart's electrical cycle, creating a fertile ground for arrhythmias.

Thryv's precision medicine approach aims to inhibit SGK1, thereby addressing the root cause of certain cardiac conditions rather than just managing symptoms. This is particularly significant for Long QT Syndrome, a genetic disorder for which there are currently no regulatory-approved targeted therapies. Patients often rely on beta-blockers and implantable defibrillators, yet research shows that up to 32% of symptomatic individuals may still suffer from life-threatening arrhythmic events. Thryv's lead compound, THRV-1268, has already shown promise in reducing the QT interval in early studies, positioning it as a potential first-in-class treatment.

The company's pipeline also highlights the broader potential of SGK1 inhibition for conditions like heart failure and atrial fibrillation, placing it in a competitive landscape that includes major players like Bristol Myers Squibb, which is also exploring the therapeutic potential of this target. However, Thryv's focused advancement into late-stage trials for a specific genetic arrhythmia gives it a critical head start in this niche.

Navigating the High-Stakes Clinical Gauntlet

The upcoming Phase 2/3 WAVE II study for LQT2 is more than just another trial; it's a registrational study, meaning its results could form the basis of a New Drug Application (NDA) to the FDA. This is the first therapeutic registrational study for Long QT Syndrome in over a decade, highlighting the significant unmet need and the potential market impact of a successful outcome.

Navigating this phase requires more than just scientific acumen. It demands rigorous operational execution, strategic communication with regulators, and savvy financial planning—all areas where Dr. Killeen's experience will be invaluable. As a venture-backed company supported by investors like Amplitude Ventures, Lumira Ventures, and Investissement Québec, Thryv must demonstrate clear progress to secure future funding rounds or attract a strategic partner. A successful trial would dramatically de-risk its platform and significantly increase the company's valuation.

"Thryv's innovative approach to targeting SGK1, a core disease node that drives serious cardiometabolic conditions has the potential to transform the lives of patients," Dr. Killeen stated. "I look forward to working with Thryv's talented team to advance these important therapies... and to help redefine how these serious cardiometabolic diseases are treated." His statement reflects an understanding that the mission is now twofold: prove the science and build the business.

The Strategic Endgame: Partnerships and Market Entry

With a promising asset heading into a pivotal trial and a CBO known for his deal-making prowess, the question for Thryv is no longer if it will pursue a major strategic transaction, but when and with whom. The landscape for cardiovascular therapies is dominated by pharmaceutical giants like Novartis, Pfizer, and Bristol Myers Squibb, all of whom are constantly seeking to replenish their pipelines with innovative, de-risked assets.

A company like Thryv, with a potential first-in-class drug for a rare disease, represents an attractive target. A partnership could provide the non-dilutive capital and global infrastructure needed to run large-scale trials and launch a commercial product. Alternatively, a successful Phase 2/3 readout could make Thryv a prime acquisition target for a company like Rocket Pharmaceuticals, which has already shown its appetite for genetic cardiology platforms, or a larger firm looking to establish a foothold in the precision cardiology space.

Dr. Killeen's appointment is the clearest indicator yet that Thryv's leadership is proactively architecting this future. His role will be to cultivate these relationships, evaluate strategic options, and ensure that when the clinical data arrives, the company is in the strongest possible position to capitalize on it. For investors and industry partners, the message is clear: Thryv Therapeutics is no longer just a company with promising science; it is a company with a plan.