BOSTON, July 23, 2019 /PRNewswire/ -- Proteostasis
Therapeutics, Inc. (NASDAQ: PTI), a clinical stage
biopharmaceutical company dedicated to the discovery and
development of groundbreaking therapies to treat cystic fibrosis
(CF) and other diseases caused by dysfunctional protein processing,
today announced the appointment of Geoffrey
S. Gilmartin, M.D., M.M.Sc., as its Chief Medical Officer
(CMO), and Andrey E. Belous, M.D.,
Ph.D., as a Senior Medical Director, effective August 5, 2019. Dr. Gilmartin served most
recently as Chief Medical Affairs Officer of the Company. Dr.
Belous joins the Company from Galapagos NV (NASDAQ:GLPG),
where he most recently served as a Medical Director for the
company's Phase 3 program in Idiopathic Pulmonary Fibrosis (IPF).
Po-Shun Lee, M.D., after a
successful 4-year tenure as Chief Medical Officer, will transition
out of his current role and will serve as a consultant for the
Company.
"We are thrilled with Geoff's continued success at Proteostasis
and welcome Andrey to the development team," said Meenu Chhabra, President and Chief Executive
Officer of Proteostasis. "Proteostasis is well positioned for an
imminent start to the next phase of development with our
proprietary CFTR modulator doublet and triplet combinations in CF.
Geoff and Andrey bring deep experience in CF and lung fibrosis from
their backgrounds at Vertex and Galapagos, respectively, and we
look forward to their contributions in these roles. On behalf of
the PTI team, I want to thank Po-Shun for his leadership and
steadfast commitment to our CF program, and we expect to continue
to benefit from his expertise as a consultant to the Company."
Dr. Gilmartin brings nearly a decade of extensive experience
leading clinical development. Before becoming Chief Medial Affairs
Officer of Proteostasis in February
2019, he served as its Chief Development Officer since
joining the Company in August 2016. From 2014 to 2016, Dr.
Gilmartin held positions of increasing responsibility at
AstraZeneca plc (NYSE:AZN) and most recently served as senior
medical lead in global medicines development for the benralizumab
Phase 3 program in severe asthma. From 2011 to 2014, he held
positions of increasing responsibility at Vertex Pharmaceuticals
Incorporated (NASDAQ:VRTX) including serving as medical lead for
the Kalydeco® (ivacaftor) clinical development program, as well as
spearheading the initiation of Phase 3 trials to support label
expansion studies for the drug. In addition to his leadership
positions in the life sciences industry, Dr. Gilmartin is an
attending physician in the intensive care unit at Beth Israel
Deaconess Medical Center and formerly served as director of the
BIDMC Sleep Disorders Center and on its pulmonary leadership team.
Dr. Gilmartin received a B.A. in History from Dartmouth College, a M.D. from Brown University School of Medicine and a Master of
Medical Science in clinical research from Harvard Medical School.
Prior to his time at Galapagos, Dr. Belous held multiple
positions at The Medicines Company from 2014 to 2017. These
positions included serving as Director, Global Health Science,
where he focused on acute care as well as Medical Director where he
provided medical, scientific/clinical, strategic, and operational
leadership. From 2013 to 2014, he served as Medical Science Liaison
at Genzyme, a Sanofi company, where he focused on field-based
medical affairs. Dr. Belous obtained his M.D. from I.M.
Sechenov First Moscow State Medical University, and his Ph.D.
in medical sciences from National Research Center of Surgery in
Moscow.
About Proteostasis Therapeutics, Inc.
Proteostasis Therapeutics, Inc. is a clinical stage
biopharmaceutical company developing small molecule therapeutics to
treat cystic fibrosis and other diseases caused by dysfunctional
protein processing. Headquartered in Boston, MA,
the Proteostasis Therapeutics team focuses on identifying
therapies that restore protein function. For more information,
visit www.proteostasis.com.
Safe Harbor
To the extent that statements in this release are not historical
facts, they are forward-looking statements reflecting the current
beliefs and expectations of management made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Words such as "aim," "may," "will," "expect,"
"anticipate," "estimate," "intend," and similar expressions (as
well as other words or expressions referencing future events,
conditions or circumstances) are intended to identify
forward-looking statements. Examples of forward-looking
statements made in this release include, without limitation,
statements regarding the potential of our proprietary combination
therapies for the treatment of CF, the potential benefit to
patients of our proprietary combination therapies, expected timing
of the initiation of, patient enrollment in, data from, the
completion of, our clinical studies and cohorts for our clinical
programs, the contributions that each of Drs. Gilmartin and Belous
will make in their newly appointed roles and the benefits we expect
to receive from Dr. Lee's continued consulting arrangement with the
Company. Forward-looking statements made in this release
involve substantial risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements, and we, therefore cannot assure you
that our plans, intentions, expectations or strategies will be
attained or achieved. Such risks and uncertainties include,
without limitation, the possibility final or future results from
our drug candidate trials (including, without limitation, longer
duration studies) do not achieve positive results or are materially
and negatively different from or not indicative of the preliminary
results reported by the Company (noting that these results are
based on a small number of patients and small data set),
uncertainties inherent in the execution and completion of clinical
trials (including, without limitation, the possibility that FDA or
other regulatory agency comments delay, change or do not permit
trial commencement, or intended label, or the FDA or other
regulatory agency requires us to run cohorts sequentially or
conduct additional cohorts or pre-clinical or clinical studies), in
the enrollment of CF patients in our clinical trials in a
competitive clinical environment, in the timing of availability of
trial data, in the results of the clinical trials, in possible
adverse events from our trials, in the actions of regulatory
agencies, in the endorsement, if any, by therapeutic development
arms of CF patient advocacy groups (and the maintenance thereof),
and those set forth in our Annual Report on Form 10-K for the year
ended December 31, 2018, our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 and our other SEC filings.
We assume no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACTS:
Investors:
David Pitts
/ Claudia Styslinger
Argot Partners
212.600.1902
david@argotpartners.com / claudia@argotpartners.com
Media:
David Rosen
Argot Partners
212.600.1902
david.rosen@argotpartners.com
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SOURCE Proteostasis Therapeutics, Inc.