Exhibit 99.1
Third Harmonic Bio Announces Leadership Changes
SAN FRANCISCO, CA., October 31, 2023 (GLOBENEWSWIRE) Third Harmonic Bio, Inc. (Nasdaq: THRD), a biopharmaceutical company
focused on advancing the next wave of medicine for inflammatory diseases, today announced the transition of Adrian S. Ray, Ph.D., from Chief Scientific Officer to Scientific Advisor, effective November 1, 2023. In his new role, Dr. Ray
will continue support the companys Investigational New Drug (IND) application for THB335, which is expected to be filed during the first half of 2024. Additionally, the company announced that Robert Ho, Chief Financial Officer, will depart the
organization on November 10, 2023. The company has initiated executive searches for their successors.
On behalf of Third Harmonic Bio, I would
like to thank Adrian and Bob for their contributions to the company, including Adrians scientific expertise in our efforts to rapidly identify our new development candidate, THB335, and Bobs support in capitalizing the company during our
initial public offering, which is reflected today in our strong cash position, said Natalie Holles, Chief Executive Officer of Third Harmonic Bio. With our continued progress toward advancing THB335 into the clinic in the first half
of next year, our ample financial resources, and an eye toward potentially expanding the scope of our work through strategic business development, we are excited to assemble an enterprise leadership team that is purpose-built for the next phase of
our companys growth.
About Third Harmonic Bio, Inc.
Third Harmonic Bio is a biopharmaceutical company focused on advancing the next wave of medicine for inflammatory diseases through the development of novel
highly selective, oral small-molecule inhibitors of KIT, a cell surface receptor that serves as the master regulator of mast cell function and survival. Early clinical studies demonstrate that KIT inhibition has the potential to revolutionize the
treatment of a broad range of mast-cell-mediated inflammatory diseases, and that a titratable, oral, intracellular small molecule inhibitor may provide the optimal therapeutic profile against this target. Third Harmonic Bios lead product
candidate THB335 is expected to enter clinical trials during the first half of 2024. For more information, please visit the Third Harmonic Bio website: www.thirdharmonicbio.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the expected transition dates for Dr. Ray
and Mr. Ho, the expected timing of filing a U.S. IND application for THB335, the sufficiency of Third Harmonic Bios financial resources, and the expected timing for clinical activities related to THB335. Forward-looking statements can be
identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy,
future, likely, may,