PaxMedica Appoints Stefan Schwabe MD, PhD as Chief Medical Officer
October 24 2022 - 8:00AM
via NewMediaWire – PaxMedica, Inc. (Nasdaq: PXMD), a clinical-stage
biopharmaceutical company focused on the development of
anti-purinergic drug therapies (“APT”) for the treatment of
disorders with intractable neurologic symptoms such as autism
spectrum disorder (“ASD”), today announced the appointment of Dr.
Stefan Schwabe MD, PhD as Chief Medical Officer. In this
role, Dr. Schwabe will be responsible for overseeing and directing
product development activities including pre-clinical, clinical,
regulatory and pharmaceutical sciences for PaxMedica’s pipeline
products. The initial program underway is targeting antipurinergic
drug therapies.
Howard Weisman, CEO of PaxMedica, commented, “We welcome Stefan
to PaxMedica, and look forward to his contributions as Chief
Medical Officer. PaxMedica is entering an important phase as
we work to advance our clinical programs and Stefan’s experience
and expertise in neurology and drug development will help us build
the critical evidence needed to ultimately seek regulatory approval
for PAX-101.”
Dr. Schwabe added, “I’m excited to be joining a company
committed to developing solutions to disorders with high unmet
medical needs through an innovative approach using clinical data to
repurpose a well-known compound that has been used for many years
to treat a rare fatal infection. The initial clinical data for its
possible use in ASD is exciting, supported by a working hypothesis
of a putative mechanism of action based on purine-mediated
processes. If successful, this could bring hope to the many
individuals and their families that struggle with this spectrum of
disorders without any definitive medical treatments. I look forward
to working with the enthusiastic and experienced team at
PaxMedica.”
Dr. Schwabe has over 30 years of experience in the
pharmaceutical industry. Dr. Schwabe worked in the CNS area at
Ciba-Geigy, Novo Nordisk, J&J, Novartis and Sanofi in various
capacities in clinical development, medical affairs and project
management. Most recently, Dr. Schwabe served as Executive Vice
President of Research and Development and Chief Medical Officer of
Supernus Pharmaceuticals since 2012. Previously, he was the Chief
Operating Officer at DemeRx, a privately held biotech company
working in the area of addiction. Dr. Schwabe received a PhD in
clinical toxicology from the University of Munich, an MD degree
from Ludwig-Maximilians-Universität München, Germany, and a
Bachelor of Science in Chemistry from Florida International
University and he completed a residency in Neurology from the
Medical College of Wisconsin.
About PaxMedica
PaxMedica is a clinical stage biopharmaceutical company focusing
on the development of anti-purinergic drug therapies (“APT”) for
the treatment of disorders with intractable neurologic symptoms,
ranging from neurodevelopmental disorders, including Autism
Spectrum Disorder (“ASD”), to Myalgic Encephalomyelitis/Chronic
Fatigue Syndrome (“ME/CFS”), a debilitating physical and cognitive
disorder believed to be viral in origin and now with rising
incidence globally due to the long term effects of SARS-CoV-2
(“COVID-19”). One of PaxMedica’s primary points of focus is the
development and testing of its lead compound, PAX-101, an
intravenous formulation of suramin, in the treatment of ASD and the
advancement of the clinical understanding of using that agent
against other disorders such as ME/CFS and Long COVID-19 Syndrome,
a clinical diagnosis in individuals who have been previously
infected with COVID-19. For more information, please visit:
www.paxmedica.com.
Forward-Looking Statements
This press release contains
“forward-looking statements.” Forward-looking statements reflect
our current view about future events. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on the Company’s current expectations and projections
about future events that the Company believes may affect its
financial condition, results of operations, business strategy and
financial needs. Investors can identify these forward-looking
statements by words or phrases such as “may,” “will,” “could,”
“expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,”
“believe,” “is/are likely to,” “propose,” “potential,” “continue”
or similar expressions. The Company undertakes no obligation to
update or revise publicly any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company’s
registration statement, most recent quarterly report and other
filings with the U.S. Securities and Exchange Commission.
Contacts:
ir@paxmedica.com
Stephanie PrincePCG
Advisorysprince@pcgadvisory.com(646) 863-6341
PaxMedica (NASDAQ:PXMD)
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