CEO and Co-founder Patrick Amstutz also to stand for election to Board at extraordinary general meeting on October 31, 2017PDF
Zurich-Schlieren, October 3, 2017. Molecular Partners AG (SIX: MOLN), a clinical-stage biopharmaceutical company developing a new class of drugs known as DARPin® therapies*, today announced that its Board of Directors has nominated William (Bill) Burns, former CEO of Roche Pharmaceuticals, for election to the Board of Directors. An extraordinary general meeting will take place on October 31, 2017, after which the Board of Directors plans to appoint Bill Burns Vice-Chairman. At the annual general meeting 2018, he will be nominated for election to Chairman of the Board of Directors.
“We are delighted to have attracted Bill as a Board member and future Chairman of Molecular Partners,” commented Jörn Aldag, current Chairman of the Molecular Partners Board of Directors. “The Company is rapidly evolving from a technology platform-based enterprise to a fully integrated, oncology-focused biopharmaceutical company. Bill has an extremely deep understanding of the biotechnology and pharmaceutical industries, with a focus on oncology, an outstanding reputation, and strong leadership skills. He is the ideal person to guide the next phase of growth as Molecular Partners seeks to become a key player in oncology.”
“It is a pleasure to join the Molecular Partners team,” said Bill Burns. “With an ongoing pivotal trial in ophthalmology and the company’s ambitious plans to create high patient value in oncology, the timing is perfect. I look forward to working with Patrick and the team to make DARPin®-based drugs a landmark therapeutic approach.”
At the forthcoming extraordinary general meeting on October 31, 2017, Molecular Partners Chief Executive Officer and Co-founder Patrick Amstutz will also stand for election to the Board of Directors, along with Bill Burns. As announced previously, the Board had nominated Patrick Amstutz for election in May 2017.
“I am honored to join the Board of Directors and I look forward to working closely with Bill to continue Molecular Partners’ successful development,” commented Patrick Amstutz. “Bill’s expertise and skills will be invaluable to our continued success.”
Bill Burns brings to Molecular Partners vast experience in the development and commercialization of drugs, particularly in oncology, and extensive knowledge of pharmaceutical industry operations. He held various executive positions at Roche for 28 years, culminating in his nomination to the position of CEO of Roche Pharmaceuticals and board seats at Roche, Genentech and Chugai Pharmaceuticals. Since 2010, he has been a Senior Independent Non-Executive Director of Shire Pharmaceuticals plc, a post from which he will step down in April 2018. Bill Burns has also been Vice-Chairman of Mesoblast since 2016. Additionally, he is a Trustee of the Institute of Cancer Research in London, and a member of the Scientific Advisory Board of the Center for Integrated Oncology of the University of Cologne/Bonn.
|October 26, 2017||Q3 2017 Management Statement|
|October 31, 2017||Extraordinary General Meeting|
|November 9, 2017||R&D Day in New York|
|February 8, 2018||Publication of Full-year Results 2017 (unaudited)|
|March 16, 2018||Expected Publication of 2017 Annual Report|
|April 18, 2018||Annual General Meeting|
About the DARPin® Difference
DARPin® therapeutics are a new class of protein therapeutics that open an extra dimension of multi-specificity and multi-functionality. DARPin® candidates are potent, specific, safe and very versatile. They can engage more than five targets at once, offering potential benefits over those provided by conventional monoclonal antibodies or other currently available protein therapeutics.
The DARPin® technology is a fast and cost-effective drug discovery engine, producing drug candidates with ideal properties for development and very high production yields. With their good safety profile, low immunogenicity and long half-life in the bloodstream and the eye, DARPin® therapies have the potential to advance modern medicine and significantly improve the treatment of serious diseases, including cancer and sight-threatening disorders. Molecular Partners is partnering with Allergan to advance clinical programs in ophthalmology, and is advancing a proprietary pipeline of DARPin® drug candidates in oncology. The most advanced global product candidate is abicipar, a molecule currently in phase 3, in partnership with Allergan. Several DARPin® molecules for various ophthalmic indications are also in development. The most advanced systemic DARPin® molecule, MP0250, is in a clinical POC study in multiple myeloma. In addition, Molecular Partners intends to evaluate MP0250 for the treatment of solid tumors in a phase 1b/2 trial in patients with epidermal growth factor receptor (EGFR)-mutated non-small cell lung cancer (NSCLC). MP0274, the company’s second-most advanced DARPin® drug candidate in oncology, is entering into phase 1 development. With its broad anti-HER activity, MP0274 inhibits HER1-, HER2- and HER3-mediated downstream signaling via Her2, leading to induction of apoptosis. Molecular Partners is also advancing a growing preclinical pipeline that features several immuno-oncological development programs. DARPin® is a registered trademark owned by Molecular Partners AG.
About Molecular Partners AG
Molecular Partners AG is a clinical-stage biopharmaceutical company that is developing a new class of therapies known as DARPin® therapies. With a management team that includes many of the company’s founding scientists, Molecular Partners continues to attract talented individuals who share a passion for developing breakthrough medicines for serious diseases. Molecular Partners has compounds in various stages of clinical and preclinical development and several more in the research stage, with a current focus on ophthalmology and oncology. The company establishes research and development partnerships with leading pharmaceutical companies and is backed by established biotech investors.
For more information regarding Molecular Partners AG, go to: www.molecularpartners.com.
For further details please contact:
Dr. Patrick Amstutz, CEO
Tel: +41 (0) 44 755 77 00
Tel: +41 (0) 44 755 77 00
Tel: +41 (0) 43 344 42 42
Susan A. Noonan
S.A. Noonan Communications, LLC
Tel: +1 212 966 3650
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Molecular Partners AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly not in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments or intentions.