Invivyd, which changed its named from Adagio Therapeutics, Inc. in September, said on 13 October that it appointed Fred Driscoll as interim chief financial officer and implemented undisclosed headcount changes “to align resources to its key programs.” The Waltham, MA-based company had $475m in cash at the end of June that was expected to last into the second quarter of 2024, including more than $300m from its August 2021 IPO. (Also see "Finance Watch: Big Bucks For T-regs In Autoimmune Diseases, Inflammation" - Scrip, 13 August, 2021.) Adagio raised more than $400m in venture capital to develop antibodies that could treat and prevent COVID-19 and other infectious diseases before going public. (Also see "Could Start-Up Adagio’s COVID-19 Antibody Have A Fighting Chance?" - Scrip, 19 April, 2021.) However, its lead antibody candidate adintrevimab was not effective enough against emerging Omicron variants of SARS-CoV-2 to pursue emergency use authorization from the FDA. (Also see "Can Adagio’s Adintrevimab Hold Up Against Omicron BA.2?" - Scrip, 30 March, 2022.) Key executives have been replaced as the company faltered, including co-founder and CEO Tillman Gerngross with current CEO David Hering. (Also see "Finance Watch: Financial Market Turmoil Ends Amicus SPAC Deal For Gene Therapy Spinout" - Scrip, 25 February, 2022.) Now, as Invivyd, the company is focused on its antibody discovery platform and a new lead COVID-19 candidate that will enter the clinic in the first quarter of 2023, but chief financial and business officer Jane Pritchett Henderson and chief commercial officer Eric Kimble are leaving to pursue other opportunities.

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