Sarepta Therapeutics has appointed Michael Severino as its next chief executive officer, effective July 28, the rare disease drugmaker announced on Monday.
Severino will succeed Doug Ingram, who announced plans to retire in February after leading the company since 2017 through a notably turbulent period.
Ingram will remain with Sarepta in an advisory capacity through the end of 2026 to support a smooth leadership transition at the firm.
The appointment followed a board-led search process during which multiple candidates were evaluated, with Severino ultimately standing out as the strongest fit for the role.
Severino brings an extensive biopharma resume to the position, having previously served as vice chairman and president at AbbVie, the Chicago-based pharmaceutical giant.
During his time at AbbVie, Severino contributed to both research and development and corporate strategy, helping the company expand into genetics, genomics, computational biology, and precision medicines.
His tenure at AbbVie coincided with the rise of major commercial brands including Rinvoq, Skyrizi, and Venclexta, which became significant revenue drivers for the firm.
Before AbbVie, Severino held roles of increasing seniority at Amgen, eventually becoming Senior Vice President of Global Development and Chief Medical Officer, overseeing clinical efforts across oncology, inflammation, and neuroscience.
In 2022, Severino departed AbbVie to lead Tessera Therapeutics, a gene writing startup backed by Flagship Pioneering, before transitioning to his new role at Sarepta.
Tessera recently advanced its first drug prospect, a gene editing treatment for alpha-1 antitrypsin deficiency, into clinical testing, marking a milestone for the young biotech.
Severino also serves on the boards of Avantor, Montai Health, Quotient Therapeutics, and Viatris, in addition to his new position on Sarepta’s board.
“It is a privilege to join Sarepta, the leader in precision genetic medicine for rare diseases, and a company driven by an extraordinary purpose: bringing innovative therapies, hope and possibility to patients and families facing serious and life-threatening diseases,” Severino said.
He expressed confidence in Sarepta’s portfolio of approved treatments, which includes the gene therapy Elevidys alongside Exondys 51, Vyondys 53, and Amondys 45 for different subsets of Duchenne muscular dystrophy patients.
Elevidys faced scrutiny after being linked to two patient deaths last year, with another fatality also occurring following treatment with a separate gene therapy sharing the same mechanism of action.
Shares of Sarepta Therapeutics (SRPT) rose nearly 6% in premarket trading following the leadership announcement on Monday.