New York, NY – April 15, 2025 — The biotechnology and Indian American communities are mourning the tragic loss of Dr. Pankaj Mohan, a visionary entrepreneur and respected CEO of Sonnet BioTherapeutics Holdings, Inc., who died in a plane crash on Sunday, March 30, near Six Mile Run State Park in Franklin Township, New Jersey. He was 61.
In a heartfelt gesture of remembrance, Dr. Mohan was honored on the iconic NASDAQ billboard in New York City’s Times Square earlier this month. The tribute, displaying his image and accomplishments, served not only as a visual memorial but also as a celebration of a life dedicated to scientific innovation and service.
“Seeing Dr. Pankaj Mohan ji honored on the NASDAQ billboard in Times Square is a powerful and fitting tribute to a truly larger-than-life personality,” said Indian American community leader Alok Kumar in remarks to News India Times. “His legacy of unwavering support for both his Karma Bhoomi and Matribhumi continues to inspire us all. This recognition by NASDAQ is not just a remembrance, but a celebration of his impactful life — one that was defined by leadership, humility, and selfless service.”
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According to a press release issued by Sonnet BioTherapeutics on April 1, Dr. Mohan, who founded the clinical-stage biopharmaceutical company in 2015, was traveling from Princeton Airport to Raleigh-Durham International Airport when his single-engine Cirrus SR22 aircraft crashed. The cause of the accident remains under investigation by the FAA and the National Transportation Safety Board.
Sonnet confirmed that its Board of Directors has appointed current board member Raghu Rao as interim Chief Executive Officer. Stephen McAndrew, previously Chief Business Officer, has been promoted to President and Chief Business Officer.
“We are heartbroken by this unexpected, tragic loss,” Rao said in the company’s statement. “Pankaj was a respected leader and visionary throughout his ten years at Sonnet. His unwavering belief in Sonnet’s technology and dedication to providing much-needed treatment options to patients has continued to propel Sonnet to where it is today. Our support and deepest condolences are with his family and loved ones during this extraordinarily sad time.”
Board member Nailesh Bhatt echoed those sentiments, adding, “We were stunned and devastated to learn about Pankaj’s passing. Since founding Sonnet, his leadership and dedication have been integral in Sonnet’s evolution. In Pankaj’s honor, we are committed to fulfilling his vision and will continue to build on his and the company’s accomplishments.”
Dr. Mohan was known for his deep commitment to oncology research and innovation. Under his leadership, Sonnet developed its proprietary FHAB (Fully Human Albumin-Binding) technology platform, designed to improve the targeting of immunotherapeutic drugs to tumors. The company’s lead candidate, SON-1010, is currently in a Phase 1/2a clinical trial in partnership with Roche for the treatment of platinum-resistant ovarian cancer.
Dr. Mohan’s legacy will continue to shape the field of cancer immunotherapy, as Sonnet carries forward his scientific vision. But for many, it is his warmth, intellect, and passion for bridging cultures and serving both his adopted homeland and his country of origin that will be most deeply missed.
As investigations continue and the company begins the process of identifying a permanent successor, tributes from around the world — from business leaders, scientists, and community advocates — reflect the immense impact of Dr. Mohan’s life and work.
His story, now immortalized high above the crossroads of the world in Times Square, will continue to inspire future generations of innovators and dreamers.
