Molecular Partners Announces Management Change
Zurich-Schlieren, November 7, 2016. Molecular Partners AG (SIX: MOLN), a clinical-stage biopharmaceutical company developing a new class of drugs known as DARPin®* therapies, today announced that Christian Zahnd, Ph.D., co-founder and Chief Executive Officer (CEO) of the company, resigned today due to health reasons. Christian Zahnd will remain a member of the Board of Directors.
The Board of Directors appointed Patrick Amstutz, Ph.D., co-founder, Chief Business Officer and Chief Operating Officer, as acting CEO. Working with Joern Aldag, Chairman of the board of directors of Molecular Partners, Patrick Amstutz took over Christian Zahnd’s responsibilities for five months when he was on medical leave in 2015 and successfully led the Company during Christian Zahnd’s absence.
“Under Christian’s leadership over the past 12 years, Molecular Partners has grown from a small, private, discovery-stage start-up to a fully integrated public company with multiple clinical programs underway by ourselves and our partner,” said Joern Aldag. “The Company is now well-positioned for continued growth in its mission to advance modern medicine and significantly improve the management of serious diseases, including cancer. We appreciate Christian’s immense contributions, and we would definitively not be where we are today without him. We wish Christian and his family all the best for his health.”
While the Board of Directors appointed Patrick Amstutz as acting CEO, it is evaluating the most suitable successor to Christian Zahnd from within or outside the organization.
“As a co-founder of Molecular Partners, it has been my privilege to help advance the company to where it is today,” said Christian Zahnd. “During the last years, we achieved a successful IPO; initiated Phase III development of abicipar, our lead asset in ophthalmology in collaboration with Allergan; and generated the first compelling clinical data supporting systemic use of a multi-DARPin therapy in oncology. In addition to his roles as co-founder, Chief Business Officer and Chief Operating Officer of Molecular Partners, Patrick successfully led the company as its acting CEO during my previous medical leave of absence. Patrick’s proven leadership track record, combined with his deep understanding of our company, our technology and our products, puts him in a very strong position to successfully lead the company moving forward.”
Please visit the News section of the Company website for Christian Zahnd’s personal letter to friends, colleagues, partners and shareholders.
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. DARPin® therapies are potent, specific, and versatile small proteins, which have the potential to offer benefits over conventional monoclonal antibodies or other currently available protein therapeutics. The DARPin® technology has the potential to offer a multi-specific approach to treatment, which enables the DARPin® therapies to target multiple pathways, or multiple epitopes on a single target to achieve substantial patient benefit. DARPin® therapies have the potential to advance modern medicine and significantly improve the treatment of serious diseases, including cancer and sight-threatening disorders. DARPin® is a registered trademark owned by Molecular Partners AG.
Molecular Partners has four 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, acting CEO
Tel: +41 (0) 44 755 77 00
Tel: +41 (0) 43 344 42 42
Susan 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.