Memo Therapeutics AG appoints Paul Carter as Chairperson

By GlobeNewswire – Press Releases

PRESS RELEASE

Memo Therapeutics AG appoints Paul Carter as Chairperson

  • Virology and commercial expertise will support Phase III readiness and commercial preparations of AntiBKV
  • Extensive public and private market experience following executive positions in numerous biopharma companies

                

Schlieren / Zurich, Switzerland, 8 July, 2024 – Memo Therapeutics AG (or “MTx”), a late-stage biotech company translating unique immune responses into superior medicines to treat viral infections and cancer, today announces the appointment of Paul Carter as Chairperson of the Board of Directors.

Paul has had an extensive executive career in the biopharma space, with commercial and M&A expertise spanning North America, Europe, and Asia. He has over 10 years of experience working in the virology field at Gilead Sciences Inc., most recently as EVP and Chief Commercial Officer, where he oversaw over $30 billion dollars of sales and contributed to multiple M&A transactions. Prior to this, he spent seven years at GlaxoSmithKline (“GSK”), where he was responsible for all GSK interests in the Greater China region.

Paul will replace Elias Papatheodorou, who was instrumental in the transition of MTx from a preclinical-stage to a well-funded clinical-stage company with an experienced and well-rounded management team. Elias is transitioning into an executive role at a European biotech and will hand-over to Paul as part of a planned succession process.

Erik van den Berg, CEO of MTx, commented: “We are delighted to welcome Paul Carter as our Chairperson. Paul’s track record and commercial and M&A expertise make him a perfect addition to our team. We look forward to his advice and support in driving the Company’s continued success as we advance into a Phase III ready organization. To Elias, we extend our gratitude for his significant contributions to our company, culminating in our recently closed Series C financing.”

Paul Carter, incoming Chairperson at MTx, added: “I am thrilled to be taking on this role at such a pivotal stage in MTx’s development. The Company’s AntiBKV program shows tremendous promise, with Phase III trials fast approaching. BKV remains a significant unmet need and I look forward to working closely with the Board and management team on realizing AntiBKV’s potential for kidney transplant patients worldwide.”

Following his successful career as an executive, Paul is now focused on his Board and retained Advisory roles. He is currently a Board Member for a wide range of public companies including HutchMed (Nasdaq/AIM:​HCM; HKEX:​13) and Immatics (Nasdaq:IMTX), and has held prior Board roles at Alder BioPharmaceuticals (Nasdaq:ALDR), acquired by Lundbeck (CPH:HLUN-A) for $2 billion, and VectivBio (Nasdaq:VECT), acquired by Ironwood Pharmaceuticals (Nasdaq: IRWD) for $1 billion.

In May, MTx announced that it had raised an additional CHF 20 million, bringing in new investors Kurma Partners and Ysios Capital and increasing its Series C financing to CHF 45 million.

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About Memo Therapeutics AG
Memo Therapeutics AG (“MTx”) is a late-stage biotech company translating unique immune responses into superior medicines through the development of best-in-class antibodies to treat viral infections and cancer. The Company’s lead program, AntiBKV, is in Phase II development targeting BK viremia in kidney transplant recipients, an infection which can result in decreased kidney functionality and longevity and reduced patient survival. AntiBKV has the potential to become the best and first-in-class BKV disease-modifying therapy for kidney transplant patients with a market potential of more than $1bn.

Alongside AntiBKV, MTx is focused on discovering antibodies for novel oncology targets, both alone and in partnership. The Company has a partnership in place with Ono Pharmaceutical since late 2022. Underpinning MTx’s core assets is its proprietary DROPZYLLA® technology, an antibody repertoire copying engine with high- throughput screening capabilities. MTx is a private company located in Schlieren / Zurich and backed by investors including Ysios Capital, Kurma Partners, Pureos Bioventures, Swisscanto, Vesalius Biocapital and Adjuvant Capital. Learn more at www.memo-therapeutics.com, and on LinkedIn.

Source: GlobeNewswire – Press Releases