Ex-Genzyme CFO takes up exec chair role at subcutaneous delivery specialist

ReForm
Jim Sherblom got involved with ReForm in February, when the company named him as chairman. (Jim Sherblom)

ReForm Biologics has appointed former-Genzyme chief financial officer Jim Sherblom as its executive chairman. The subcutaneous delivery specialist disclosed the appointment alongside news that it raised $10 million and restructured to improve its access to capital markets.

Henri Termeer appointed Sherblom as the first Genzyme chief financial officer in 1984. After leaving Genzyme, Sherblom became CEO of Transgenic Sciences and took it public. Later, Genzyme bought Transgenic, and Sherblom became a venture capitalist. Sherblom became involved with ReForm in February, when the company named him as chairman and tasked him with leading a new strategy.

Now, Sherblom has signed up to play a more active role in ReForm by becoming executive chairman. The appointment positions Sherblom to work directly with the ReForm management team as it uses proprietary excipients to improve biologic formulations.

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ReForm set out its new strategy at the time of Sherblom’s appointment as chairman in February. The plan is to use the excipients to enable the subcutaneous dosing of medicines that are currently given intravenously. In the latest statement, Sherblom said ReForm will build “a pipeline of gentler medicines for vulnerable patients who are less able to tolerate intravenous infusions.”

To fund the strategy, ReForm raised a $10 million series B round. Sherblom said the financing will enable ReForm to build its infrastructure to support its preclinical and ultimately its clinical programs. 

The plans for clinical development suggest ReForm will need more money down the line. ReForm has positioned itself to raise additional funds by restructuring as a C corporation, a structure that means it will be taxed separately from its owners. Sherblom said the new structure “will greatly increase the company's options for accessing the capital markets.”