Caldera Therapeutics, Inc. filed a Form 425 communication on November 2, 2026, disclosing the appointments of Michelle Doig as Chief Financial Officer and Lee Giguere as Chief Legal Officer as the company prepares to become publicly traded through its proposed combination with Synlogic, Inc. (OTC:SYBX).

Key Highlights

  • New CFO: Michelle Doig, who brings more than 25 years of biotechnology finance experience, was appointed Chief Financial Officer of Caldera Therapeutics.
  • New CLO: Lee Giguere, J.D., who brings more than 20 years of legal and corporate leadership experience, was appointed Chief Legal Officer.
  • Merger context: Caldera and Synlogic intend to combine in an all-stock transaction with a newly formed company, with the combined entity planning to operate under the name Caldera Therapeutics, Inc.
  • Planned listing: Upon closing, the combined company intends to apply to trade on NYSE American under the ticker symbol "CALD," according to the filing.
  • Private placement: Caldera has secured commitments for an upsized concurrent private placement expected to generate approximately $278 million in gross proceeds from healthcare institutional investors and mutual funds.
  • Expected timeline: The proposed transaction and concurrent private placement are expected to close by early 2027, subject to customary closing conditions including stockholder approval and SEC registration statement effectiveness.
  • Clinical program: Caldera is developing CLD-423, a bispecific antibody targeting IL-23p19 and TL1A, which the filing states is advancing into Phase 2 IBD trials.

Caldera Strengthens Executive Team as Merger and Public Listing Approach

According to the Form 425 filing, Caldera Therapeutics appointed Michelle Doig as Chief Financial Officer and Lee Giguere, J.D., as Chief Legal Officer on November 2, 2026. The filing describes these appointments as intended to strengthen Caldera's executive leadership as the company prepares for a transition to becoming a publicly traded company and advances its lead asset, CLD-423, into Phase 2 clinical trials for inflammatory bowel disease.

The filing states that Michelle Doig previously served as Partner and Head of Corporate Development at Omega Funds, where she served on the board of directors of Caldera from January to October 2026. Prior to that role, she held positions at Third Rock Ventures and Abingworth, and began her career in investment banking at Morgan Stanley Canada, J.P. Morgan H&Q, and Lehman Brothers International. She holds an Honors degree in Business Administration from the Ivey Business School at Western University. Lee Giguere most recently served as Chief Legal Officer of enGene Therapeutics and, previously, Obsidian Therapeutics. The filing notes he also served as Vice President and General Counsel of Chiasma, Deputy General Counsel at Karyopharm Therapeutics, and Senior Securities and Governance Counsel at Boston Scientific. He holds a J.D. from Northeastern University School of Law and a B.Sc. in Finance from Northeastern University.

The filing reiterates details of the proposed combination between Caldera and Synlogic, Inc. (OTC:SYBX), described as an all-stock transaction with a newly formed holding company. A Form S-4 registration statement has been filed with the SEC in connection with the proposed transaction, though the filing notes it "has not yet been declared effective." Caldera's CEO Praveen Tipirneni, MD, MBA, stated in the filing that the two new executives' "expertise in capital markets, corporate finance, investor relations, legal affairs, and corporate governance will be invaluable" as the company prepares for the transition.

What Was Disclosed

Caldera Therapeutics disclosed the appointments of a new CFO and CLO via a Form 425 communication filed November 2, 2026, in connection with its proposed all-stock merger with Synlogic. The filing also confirmed an upsized private placement expected to raise approximately $278 million in gross proceeds.