Patrick Amstutz Appointed as Molecular Partners’ Chief Executive Officer
Zurich-Schlieren, May 12, 2017. Molecular Partners AG (SIX: MOLN), a clinical-stage biopharmaceutical company developing a new class of drugs known as DARPin® therapies, today announced that the Board of Directors unanimously decided to appoint Patrick Amstutz, Ph.D., cofounder of the company, as Chief Executive Officer and to nominate him to become a member of the Board of Directors.
When Christian Zahnd resigned as CEO of Molecular Partners in November 2016, the Board of Directors appointed Patrick Amstutz as acting CEO, and engaged in a process to find the best suitable internal or external candidate. The Board of Directors is pleased to have concluded that Patrick Amstutz is best qualified to become the next CEO of the company.
“As a co-founder of Molecular Partners, Patrick has been a key member of the team building Molecular Partners. He has successfully demonstrated his leadership capabilities in business development and as a Chief Operating Officer for many years. Since he took over as acting CEO, he has led the company with full support of his team. The Board of Directors is convinced that Patrick will lead our company into a successful future,” commented Joern Aldag, Chairman of the Board of Directors.
About the DARPin® Difference
DARPin® therapeutics are a new class of protein therapeutics opening an extra dimension of multispecificity and multi-functionality. DARPin® candidates are potent, specific, safe and very versatile. They can engage in more than 5 targets at once, offering potential benefits over those offered 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 Phase 1 clinical development for the treatment of solid tumors and moves into Phase 2 for hematological and later for solid tumors. MP0274, the second-most advanced DARPin® drug candidate in oncology, has broad anti-HER activity; it inhibits HER1, HER2 and HER3-mediated downstream signaling via Her2, leading to induction of apoptosis. MP0274 is currently moving in Phase 1. 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 founding scientists, the company continues to attract talented individuals who share the passion to develop 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.