Achieve Life Sciences names new CEO, looks to raise $354 million

Achieve Life Sciences has appointed Andrew Goldberg as CEO while securing up to $354 million in funding to support its smoking cessation treatment and operations.

The funding includes approximately $180 million upfront and an additional $174 million contingent on FDA approval of cytisinicline, with a decision expected by June 20. Goldberg, formerly of Marshall Wace, replaces co-founder Richard Stewart and said, “I am grateful to our new and existing investors for supporting our mission to deliver a new option to the many millions ready to quit.” The company plans to use the capital for a Phase 3 trial in vaping cessation, commercialization efforts, and general corporate purposes.

This leadership transition and financing milestone highlight continued momentum in Seattle’s biotech sector, particularly in advancing novel treatments targeting widespread public health challenges.

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Pictured: Achieve Life Sciences co-founder Richard Stewart, who held the CEO role since August 2024 prior to the recent leadership transition