David Woodhouse has been appointed CEO of NGM Biopharmaceuticals. Woodhouse was also elected to the South San Francisco, CA, company’s board of directors. He succeeds William Rieflin, who will remain on NGM’s board and take on the role of executive chairman. Woodhouse was previously NGM’s chief financial officer. He joined NGM in 2015 from Goldman Sachs (NYSE: GS), where he was a managing director and co-head of U.S. biotechnology investment banking.
In other moves, NGM appointed Aetna Wun Trombley to serve as president and chief operating officer, taking over the role of former COO Jeffrey Jonkerhas. NGM said Jonkerhas left to pursue another executive role, though he will remain “a special advisor to the company.” NGM said the executive changes were made in connection with the company’s plans to file for an IPO. NGM develops treatments for liver disorders and metabolic diseases. The company’s lead drug, NGM282, is in Phase 2 studies testing it as a treatment for nonalcoholic steatohepatitis, a liver disease.