Probiodrug reports full year 2015 financial results
Probiodrug to Present and Attend European Conferences in April 2016
Expands Management Board with Senior Hire
HALLE/SAALE, Germany, 23 March 2016 – Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer’s disease, today announced that Mark Booth has joined the company as Chief Business Officer and member of the Management Board. Mr. Booth brings over 30 years of biopharmaceutical experience to Probiodrug.
“Mark’s broad business background and proven track record make him a valuable addition to our management board,” said Dr. Erich Platzer, Chairman of the Supervisory Board of Probiodrug. “His extensive experience in business development and investor relations will be instrumental to propel Probiodrug’s strategy internationally and in particular the United States.”
“I am excited to be joining Probiodrug,” added Mark Booth. “This is truly a unique opportunity and I look forward to working with the team as we advance new and novel therapeutic treatments for Alzheimer’s patients.”
Mark Booth most recently served as the Chief Commercial Officer at Orexigen Therapeutics, Inc. where he also played a leadership role in all business development and investor relations activities.
Prior to Orexigen Therapeutics, Inc., Mr. Booth served as the President of Takeda Pharmaceuticals North America (TPNA). Under his leadership TPNA became one of the fastest growing pharmaceutical companies in the U.S. with sales of over $4 billion. Prior to his role at TPNA, Mr. Booth was the Senior Vice President, General Manager at Immunex Corporation. Previously, Mr. Booth was at Abbott Laboratories where he held multiple positons, in his last role at Abbott, he held the title of Division Vice President, General Manager for the anti-infective franchise.
Mr. Booth holds a BS in Biology from Northern Illinois University and an MBA from Northwestern University Kellogg School of Management.
For more information, please contact:
Dr Konrad Glund, CEO
Supriya Mathur, Eva Haas, Alexia Faure
Tel: +44 (0) 20 7862 6475
The Trout Group
Tel: +1 (646) 378-2953
Notes to Editors:
About Probiodrug AG
Headquartered in Halle, Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer’s disease.
Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes – the DP4 inhibitors – which provided the basis for a novel class of antidiabetics – the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides, which play a central role in pathological conditions.
Today Probiodrug’s aim is to become a leading company in the development of Alzheimer’s disease treatments and to thereby provide a better life for Alzheimer’s disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer’s disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company’s view, with a leading position in this field of research.
About Alzheimer’s disease
Alzheimer’s disease is a neurological disorder, which is the most common form of dementia, and ultimately leads to death. Because Alzheimer’s disease cannot be cured and is degenerative, the affected patients must increasingly rely on others for assistance. Today, over 46 million people worldwide currently live with the condition and this number is expected to increase to 132 million by 2050. Alzheimer’s also has an estimated, global societal cost of US$ 818 billion (World Alzheimer Report 2015).
Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Probiodrug AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.