Fulcrum Therapeutics Appoints Chief Medical Officer and Chief Scientific Officer

— Santiago Arroyo, M.D., Ph.D. joined as CMO on November 7, 2022 —

— Jeff W. Jacobs, Ph.D. to join as CSO on December 1, 2022 —

CAMBRIDGE, Mass. –, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.^® (NASDAQ:FULC), a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases, today announced the appointment of Santiago Arroyo, M.D., Ph.D., as Chief Medical Officer, and Jeff W. Jacobs, Ph.D., as Chief Scientific Officer.

"We are thrilled to welcome Drs. Arroyo and Jacobs to our executive team," said Bryan Stuart, Chief Executive Officer at Fulcrum. "Dr. Arroyo has extensive experience leading clinical development at multiple biotech companies, most recently developing novel therapeutics to treat rare, immune-mediated diseases at Momenta Pharmaceuticals. Dr. Jacobs has a lengthy history in preclinical drug development, including spearheading the discovery of two drugs that have commercially launched. Their scientific and clinical expertise will be invaluable to Fulcrum as we advance our portfolio of transformative therapies."

Santiago Arroyo, M.D., Ph.D. – Chief Medical Officer

Dr. Arroyo brings to Fulcrum nearly 20 years of biopharmaceutical industry experience, leading the clinical development of therapeutics across multiple disease areas. In his role as Chief Medical Officer at Momenta Pharmaceuticals (acquired by Johnson & Johnson), Dr. Arroyo led the clinical development of the company's broad portfolio of hematology, neurology, immunology, and materno-fetal therapeutics. Previously, he was the Chief Medical Officer of Boston Pharmaceuticals. Before that, he held multiple clinical roles at Bristol-Myers Squibb and Pfizer, where he was the Head of Clinical Research and Chief Medical Officer for Pharmacotherapeutics. Earlier, Dr. Arroyo held clinical development roles at Eisai Global Clinical Development and Schwarz Biosciences. Dr. Arroyo began his career as an academic neurologist at the Medical College of Wisconsin, Johns Hopkins Hospital and Medical School, and the Hospital Clinic de Barcelona in Spain. He earned a Ph.D. from the Universidad de Barcelona and an M.D. from the Universidad Autonóma de Madrid.

"I am pleased to have joined Fulcrum at this key juncture," commented Dr. Arroyo. "With the FSHD Phase 3 program that could deliver a first to market therapy for this rare and devastating disease, and a Phase 1b sickle cell disease program that has shown compelling proof-of-concept as a potential first oral fetal hemoglobin inducer, I am eager to leverage my experience to bring these two exciting medicines to patients."

Jeff Jacobs, Ph.D. – Chief Scientific Officer

Dr. Jacobs has more than 25 years of experience in drug discovery and target identification, and has led, co-led and mentored multiple discovery programs from concept stage through development candidate nomination, and from investigational new drug enabling studies through to pivotal clinical trials. Dr. Jacobs was most recently Chief Scientific Officer at Goldfinch Bio, where he led the research and discovery program to help build its portfolio of therapeutics for rare kidney diseases. Before Goldfinch, Dr. Jacobs held roles of increasing responsibilities at Ardelyx, Inc., and was promoted to Chief Scientific Officer. During his time at Ardelyx, he led the discovery effort for IBSRELA®, an oral small molecule for the treatment of irritable bowel syndrome with constipation, that became its first U.S. Food and Drug Administration (FDA) approved product. Earlier, Dr. Jacobs held senior roles in development chemistry at Sunesis Pharmaceuticals, along with similar roles leading chemistry teams at Versicor, Inc. (acquired by Pfizer), and Affymax (acquired by Glaxo Wellcome). Dr. Jacobs earned a Ph.D. in bioorganic chemistry from the University of California, Berkeley and a B.S. in chemistry from Gonzaga University.

Dr. Jacobs added, "Fulcrum has an impressive discovery engine that has identified novel targets across multiple therapeutic areas, and notably, led to the development of two clinical programs. I look forward to building upon Fulcrum's expertise in target discovery to develop a robust and diverse pipeline within the company's three core areas of focus: rare muscle, hematologic and neurologic diseases, and to delivering the company's next IND in 2023."

About Fulcrum Therapeutics

Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases in areas of high unmet medical need. Fulcrum's two lead programs in clinical development are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy (FSHD), and FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. Fulcrum's proprietary product engine, FulcrumSeek™, identifies drug targets that can modulate gene expression to treat the known root cause of gene mis-expression. For more information, visit www.fulcrumtx.com and follow us on Twitter @FulcrumTx and LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this press release are forward-looking statements, including statements regarding Dr. Jacobs role at Fulcrum, including start date; the benefits of their expertise; potential for losmapimod and ability to bring FTX-6058 to market; building on Fulcrum's discovery efforts; and submission of next IND; among others. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with integration of new employees; Fulcrum's ability to continue to advance its product candidates in clinical trials; initiate and enroll clinical trials on the timeline expected or at all; obtain and maintain necessary approvals from the FDA and other regulatory authorities; replicate in clinical trials positive results found in preclinical studies and/or earlier-stage clinical trials of losmapimod, FTX-6058 and its other product candidates; obtain, maintain or protect intellectual property rights related to its product candidates; manage expenses; realize the anticipated benefits of the strategic realignment; and raise the substantial additional capital needed to achieve its business objectives. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Fulcrum's actual results to differ from those contained in the forward-looking statements, see the "Risk Factors" section, as well as discussions of potential risks, uncertainties, and other important factors, in Fulcrum's most recent filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent Fulcrum's views as of the date hereof and should not be relied upon as representing Fulcrum's views as of any date subsequent to the date hereof. Fulcrum anticipates that subsequent events and developments will cause Fulcrum's views to change. However, while Fulcrum may elect to update these forward-looking statements at some point in the future, Fulcrum specifically disclaims any obligation to do so.

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Contact:

Investors:

Stephanie Ascher

Stern Investor Relations, Inc.

stephanie.ascher@sternir.com

212-362-1200

Media:

Dee Smith

Executive Director, Corporate Communications

Fulcrum Therapeutics, Inc.

dsmith@fulcrumtx.com

202-746-1324