Shenandoah Therapeutics Appoints Steve Worland, Ph.D., as Chief Executive Officer

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Oct 14, 2026--

Shenandoah Therapeutics, a biotechnology company developing a new class of cancer therapeutics that use chemically induced proximity to rewire cancer drivers to activate programmed cell death, today announced the appointment of Steve Worland, Ph.D., as President and Chief Executive Officer and a member of its Board of Directors. Co-Founder and founding CEO Isabella Graef, M.D., has transitioned to Chief Scientific Officer and will continue to lead Shenandoah’s scientific strategy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261014661985/en/

The leadership transition comes as Shenandoah advances its lead oncology program toward IND-enabling studies. In preclinical studies, the company’s lead molecules have demonstrated potent activity and complete and durable tumor regression in models of B-cell lymphoma, including patient-derived models harboring multiple cancer-driving mutations.

Shenandoah Therapeutics was founded in 2022 based on scientific work originating at Stanford Medicine by Gerald R. Crabtree, M.D., and Nathanael S. Gray, Ph.D., bringing together expertise in chemically induced proximity, chemical biology and drug discovery. Crabtree developed the first induced proximity molecules and has used them to define the roles of chemically induced proximity in biology and medicine. Gray has spearheaded the development of several induced proximity modalities and has broad experience in bringing drugs to market. In 2025, the company closed a $21.5 million seed financing, co-led by Samsara BioCapital and YK Bioventures, with participation from First Spark Ventures and Time BioVentures, among others, to advance its TCIP platform and lead oncology program targeting BCL6 in B-cell malignancies.

“I’m delighted to welcome Steve to Shenandoah at this important stage in the company’s evolution,” said Dr. Graef. “We have made significant progress translating our science into molecules with compelling activity in cancer models, and our lead program is now approaching IND-enabling studies. Steve brings a rare combination of scientific depth, drug development experience and company-building expertise, and I look forward to working closely with him as we advance toward the clinic.”

“Shenandoah brings together compelling science, an experienced founding team and a platform with the potential to generate multiple new medicines,” said Dr. Srinivas Akkaraju, Founder and Managing General Partner, Samsara BioCapital. “We are pleased to support the team as they advance the company’s lead oncology program and build a broader pipeline.”

Dr. Worland brings more than 30 years of biotechnology leadership, drug discovery and development experience to Shenandoah. Most recently, he served as Chief Executive Officer of Numerion Labs. He previously co-founded eFFECTOR Therapeutics and served as its President, Chief Executive Officer and Board Member, leading the oncology company from inception through its public listing in 2021 and advancing two product candidates from target concept into Phase 2 clinical development. During his tenure, eFFECTOR raised more than $250 million in private and public equity financing and established a major research collaboration with Pfizer. Prior to eFFECTOR, Dr. Worland served as President and Chief Executive Officer of Anadys Pharmaceuticals, where he led the company through its $230 million acquisition by Roche. He has also held senior leadership roles spanning research, development and corporate strategy across the biotechnology industry.

“I’m excited to join Shenandoah at a point when the company is positioned to translate its scientific foundation into a clinical-stage pipeline,” said Dr. Worland. “The team has generated compelling preclinical results, and I look forward to working with Isabella and the broader team to advance promising new therapies to patients and position the company for its next stage of growth.”

Most targeted cancer therapies inhibit or degrade proteins that drive tumor growth. Shenandoah’s TCIPs instead use chemically induced proximity to redirect cancer-driving proteins to activate programmed cell death, effectively turning the cancer driver against the cancer cell itself. The company’s lead program targets BCL6, an oncogenic driver in B-cell malignancies that normally represses genes involved in programmed cell death, rewiring it to activate pro-apoptotic genes and trigger cancer cell destruction.

In preclinical studies, Shenandoah’s lead TCIP molecules have demonstrated potent activity and complete, durable tumor regression in models of B-cell lymphoma, including patient-derived models with multiple cancer-driving mutations. The foundational science has been published in Nature and Science and Cell. Shenandoah is advancing its lead BCL6 program toward IND-enabling studies while applying its TCIP platform to additional oncogenic drivers and solid tumors.

“With his track record of successfully bridging science and business, Steve is ideally suited to lead Shenandoah through its next stage of growth,” said Gary Yeung, Managing Partner, YK Bioventures and a member of Shenandoah’s Board of Directors. “The company is entering an important phase as its lead program advances into IND-enabling studies and toward clinical development, while the platform expands into solid tumors and other therapeutic areas. Steve and Isabella bring highly complementary experience to advancing this next phase of the company’s development.”

About Shenandoah Therapeutics

Shenandoah Therapeutics is developing a new class of small-molecule cancer medicines designed to rewire cancer-driving proteins to activate programmed cell death. Founded in 2022 based on science originating at Stanford University, the company’s proprietary Transcriptional/Epigenetic Chemical Inducers of Proximity (TCIP) platform uses a gain-of-function approach to transform disease-driving proteins into therapeutic activities. Shenandoah is advancing a lead TCIP program targeting BCL6 in B-cell malignancies while expanding the platform across additional cancer drivers and solid tumors. For more information, visit www.shenandoah-tx.com.

Steve Worland, Ph.D., CEO, Shenandoah Therapeutics

CAIRO (AP) — Offices belonging to senior executives with Saudi oil giant Aramco were hit in an overnight Houthi strike on the company’s headquarters, two regional officials said Wednesday, in the latest demonstration of the Iran-backed rebels’ ability to attack high-profile targets even after issuing warnings that they would do so.

The officials said the top three floors in a building used by top executives were damaged. One official said the office of the Aramco chief executive was among those hit. There were no casualties. The officials spoke on condition of anonymity because they were not authorized to discuss the matter with the media.

The sight of smoke rising from some of Saudi Arabia’s most sensitive facilities in recent days has rattled the region and global markets while increasing questions for U.S. President Donald Trump, who has said he is evaluating whether the U.S. should join Saudi strikes against the Houthis in the latest front in the Iran war.

The Houthis earlier said they targeted Dhahran, which hosts the headquarters, with a ballistic missile as part of their latest attacks. The Saudi-led military coalition fighting the Houthis earlier said it intercepted a ballistic missile targeting Dhahran; cruise and ballistic missiles and drones targeting the capital, Riyadh; and a cruise missile targeting Al-Kharj, home to Prince Sultan Air Base and the state-owned Military Industries Corporation.

Aramco didn’t immediately respond to a request for comment. The Saudi government-run Center for International Communication, which oversees foreign media operating in the kingdom, said it was looking into the matter.

The Houthis called the latest attacks retaliation for “treacherous Saudi aggression” against the rebel-held Yemeni capital of Sanaa and other areas, as the kingdom backs the forces of neighboring Yemen's internationally recognized government in a major military offensive launched a week and a half ago.

Separately, the rebel-run Health Ministry reported two dead in attacks in Yemen on Tuesday and blamed the Saudis.

The Houthis have repeatedly targeted Saudi airports, military facilities and oil infrastructure. Riyadh's King Khalid International Airport has been targeted multiple times in the past week with strikes that have killed at least 18 people and hurt over 300 more, greatly affecting aviation across the kingdom.

The Houthis, hardened by years of civil war, have emerged as Iran's most effective armed proxy of the moment, but experts say they also have their own agenda. Either way, they are applying increasing pressure on a key U.S. ally.

A senior Houthi official told The Associated Press that regional and international powers have reached out in an effort to stop the attacks on Saudi Arabia as part of a ceasefire deal.

Mohamed al-Bukhaiti, a member of the Houthis’ political bureau, said Oman has tried to get both sides back to the negotiating table, and Russia and China also tried via Iran.

“We’re welcoming any mediation that leads to an end of the war and the blockade between Sanaa and Riyadh,” he said. “We’re ready for a comprehensive end of the war and the blockade from both sides, not just a temporary ceasefire.”

The rebels continued to warn of attacks on both airports and oil facilities. Over 3,000 flights scheduled to depart from airports across Saudi Arabia have been canceled or listed as not operating in the past week, according to aviation analytics firm Cirium.

The escalation has highlighted Saudi Arabia’s struggle to intercept Houthi missiles and drones. The kingdom has pressed allies like the United States for more military support. Regional officials say Saudi Arabia, the world’s top purchaser of U.S. weapons, is running low on interceptors.

The Saudis are trying to intercept daily attacks across a territory about three times the size of Texas. Experts have said trying to intercept all of the missiles and drones is impossible. The Houthis have a large arsenal capable of striking targets well over 1,000 miles (1,600 kilometers) away. Some warheads change direction during flight.

Even interceptions are a danger. Overnight, Saudi Arabia’s Civil Defense said debris from two intercepted Houthi ballistic missiles fell on residential areas in Riyadh, injuring four people including a child and damaging 15 homes.

The fighting between the Saudis and Houthis erupted this year when the rebels blamed the Saudis for a strike on the airport in Sanaa. That attack revived anger over a Saudi blockade of the Houthis, who in turn declared a blockade against the kingdom.

The Saudi-led coalition also is striking oil targets. Earlier Wednesday, the Houthi-run Health Ministry said two people were killed in an airstrike Tuesday in the Ras Isa port area in Hodeida province. The strike hit a facility of the state oil company and wounded two others, the ministry said, and blamed Saudi Arabia. The Saudi-led coalition also attacked an oil facility in Sanaa.

The targeting of fuel storage facilities in Houthi-controlled areas marks a new phase, said Ahmed Nagi, senior Yemen analyst at the International Crisis Group, a think tank. He added that in a war of attrition, the rebels could risk losing much of their military capacity.

“The Houthis are betting on pressure, while the Saudis are betting on time. The Houthis are trying to strike critical infrastructure in Saudi Arabia to raise the cost of continued military intervention and support for the Yemeni government,” Nagi added.

Meanwhile, the fighting has revived Yemen's civil war after four years of relative calm.

The International Committee of the Red Cross said all front lines there have seen an “unprecedented surge in weapon-wounded cases,” especially in Marib, Taiz and along the Red Sea. Hospitals are overwhelmed and “mass-casualty influxes are increasingly frequent.”

Meanwhile, the World Food Program said it can no longer reach over 600,000 people in the besieged city of Taiz who depend on aid.

Anna reported from Jerusalem. Associated Press writers Sarah el Deeb in Beirut and Fatma Khaled in Cairo contributed.

FILE -Birds fly over a billboard advertisement for Saudi Arabia's state-owned oil giant Aramco, with Arabic that reads, "Saudi Aramco, soon on stock exchange," in Jiddah, Saudi Arabia. (AP Photo/Amr Nabil, File)