Life Sciences Insight

Biotech incubator Sporos’ new CEO arrives from Ovid with Biogen, Bristol Myers experience

Amit Rakhit, M.D., is ready for his next venture after leaving Ovid Therapeutics last month following a lead therapy failure in April. His next stop is leading Houston biotech incubator Sporos Bioventures. 

Rakhit hit the exit at Ovid as president and chief medical officer after the biotech’s lead therapy failed a phase 3 trial in Angelman syndrome. Now, he’s taking on the CEO post at Sporos, which launched with $38.1 million in May. 

Prior to his five-year run at Ovid, Rakhit was in various vice president and senior vice president roles at Biogen for nearly five years and previously spent almost a decade at Bristol Myers Squibb. 

Now he’s in charge of a portfolio that oversees four biotechs, including 2021 Fierce 15 winner Tvardi Therapeutics, which is soon moving into a phase 2 trial for its treatment in advanced solid tumors. 

The other companies under Sporos’ wings are cancer fibroblast biotech Stellanova, oncology biotech Nirogy and cancer immunotherapy startup Asylia Therapeutics

Sporos is also led by former Genzyme CFO Michael Wyzga and Chief Scientific Officer Jeno Gyuris, Ph.D., who previously held identical roles at Tvardi, Trieza Therapeutics and Quiet Therapeutics. 

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