Probiodrug
Appoints Dr. Michael Schaeffer as
Executive Vice President of Business and
Strategy
HALLE (SAALE),
Germany, 04 September, 2018: Probiodrug AG (Euronext
Amsterdam: PBD), a clinical stage biopharmaceutical company
developing novel therapeutic solutions to treat Alzheimer's disease
(AD), today announced that Dr. Michael Schaeffer has been appointed
to the position of Executive Vice President of Business and
Strategy, effective August 2018. Dr. Schaeffer brings more than 15
years of experience across pharma and biotech in strategic business
development, scientific project and alliance management to
Probiodrug.
Chief Executive
Officer of Probiodrug, Dr. Ulrich Dauer, said: "We are very
pleased Michael has joined our team. His entrepreneurial skill sets
and extensive experience in strategic business development for
neurology projects across all stages of drug development will be
invaluable in defining Probiodrug's business strategies.
Additionally, he brings significant experience in advancing
innovations in R&D alliance and CRO partnership management on a
global scale. Together we look forward to tackling the next
developmental stages of our lead candidate PQ912 as we prepare for
our upcoming global Phase 2b studies."
Prior to joining Probiodrug, Dr.
Schaeffer was the Founder and Managing Director of biotech
companies, CRELUX GmbH and SiREEN AG. Under his leadership CRELUX
nearly doubled its revenues within one year. Following the
acquisition of CRELUX by WuXiAppTec in 2016, Dr. Schaeffer was
responsible for integrating CRELUX into the leading global CRO with
over 18,000 employees based in Shanghai. He received his PhD in
Molecular Biology from Ludwig-Maximilians-Universität in Munich,
Germany.
"I was looking for an exciting
business development role at a company that develops innovative
drugs based on outstanding science and for indications with an
extremely high medical need. Probiodrug exactly matches these
requirements - I look forward to making a significant contribution
as we are advancing our drug discovery programs" Dr. Michael Schaeffer added.
###
For more
information, please contact:
Probiodrug
Dr. Ulrich Dauer, CEO
Email: contact@probiodrug.de
Optimum Strategic
Communications
Mary Clark, Supriya Mathur, Hollie Vile
Tel: +44 (0) 203 714 1787
Email: probiodrug@optimumcomms.com
Solebury
Trout
Michael Levitan
Tel: +1 (646) 378-2920
Email: MLevitan@troutgroup.com
MC Services
AG
Anne Hennecke, Susanne Kutter
Tel: +49 (0) 211 529 252 27
Email: probiodrug@mc-services.eu
Notes to Editors:
About Probiodrug AG
Headquartered in Halle (Saale), Germany, Probiodrug AG (Euronext
Amsterdam: PBD) is a clinical stage biopharmaceutical company
focused on the development of new therapeutic products for the
treatment of Alzheimer's disease (AD). Probiodrug has identified a
new therapeutic concept linked to disease initiation and
progression. The development approaches are targeting a key
neuro-/synaptotoxic component of the pathology, pyroglutamate-Abeta
(pGlu-Abeta) as a therapeutic strategy. The enzyme Glutaminyl
Cyclase (QC) plays a central role in this process.
Its lead product, PQ912, has
successfully completed a Phase 2a (SAPHIR) study. The company's
pipeline also includes PBD-C06, an anti-pGlu-Abeta-specific
monoclonal antibody, in preclinical development. Probiodrug has
medical use and composition of matter patents related to the
inhibition of QC and anti-pGlu-Abeta-specific monoclonal
antibodies, and has, in the Company's view, a leading position in
this field of research.
About
PQ912
PQ912, is a first-in-class, highly specific and potent inhibitor of
Glutaminyl Cyclase (QC), the enzyme catalyzing the formation of
synaptotoxic pGlu-Abeta. PQ912 has shown therapeutic effects in AD
animal models. A Phase-1 study in healthy young and elderly
volunteers revealed a dose dependent exposure and showed good
safety and tolerability up to the highest dose resulting in >90%
target occupancy in the spinal fluid. In June 2017, Probiodrug
announced top-line data of the Phase 2a SAPHIR trial of PQ912 and
presented the study results at CTAD 2017. Results strongly support
(a) the hypothesis of pGlu-Abeta being synaptotoxic and (b) the
therapeutic concept pursued by Probiodrug. The study provides
important guidance how to move forward with the development of
PQ912 as a disease-modifying drug for AD. Altogether, the results
make the program highly attractive for further development; the
company has initiated the preparation of a Phase 2b core
program.
www.probiodrug.de
About Alzheimer's
disease
Alzheimer's disease is a neurological disorder, which is the most
common form of dementia, and ultimately leads to death. Today, 47
million people live with dementia worldwide, and this number is
projected to treble to more than 131 million by 2050, as the global
population ages. Dementia also has a huge economic impact.
Alzheimer's has an estimated, global societal cost of US$ 818
billion, and it will become a trillion-dollar disease by 2018.
(World Alzheimer Report 2016)
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.