Sitryx names Adam Mostafa as chief financial officer

Sitryx Therapeutics appointed Adam Mostafa as chief financial officer, effective September 8. The clinical-stage biopharmaceutical company develops oral therapies for autoimmune and inflammatory diseases.

Mostafa brings over 25 years of experience in biotechnology and healthcare finance. He previously served as CFO at X4 Pharmaceuticals (NASDAQ: XFOR), where he helped secure the FDA approval and commercial launch of XOLREMDI, a rare disease therapeutic. He also held CFO positions at Abpro Holdings (NASDAQ: ABP) and currently serves on boards of Satellos Bioscience (TSX: MSCL) and Precision Biologics.

During his career, Mostafa has raised over $1 billion in institutional capital and secured multiple strategic partnerships. His background includes roles at major financial institutions such as Managing Director in healthcare investment banking at Cantor Fitzgerald, Senior Banker at Needham & Company, and Vice President at CRT Capital Group.

Iain Kilty, CEO of Sitryx, said Mostafa's financial expertise and strategic leadership will support the company's next growth phase as it advances its pipeline of small molecules for chronic autoimmune and inflammatory diseases.

Sitryx's lead candidate, SYX-5219, is a PKM2 modulator in development for atopic dermatitis as a once-daily oral therapy. The Oxford-based company was established in 2018 and has raised $85 million from investors including SV Health Investors, Sofinnova Partners, Oxford Science Enterprises, Longwood Fund, Eli Lilly and Company, and GSK.

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