TIDMPRTC
PureTech Health PLC
24 November 2020
November 24, 2020
PureTech Health plc
PureTech Founded Entity Vedanta Biosciences Appoints Troy
Ignelzi, Chief Financial Officer at Karuna Therapeutics, to its
Board of Directors
Mr. Ignelzi brings strong financial and operational expertise to
the board and will serve as chairman of the Audit Committee
PureTech Health plc (LSE: PRTC, Nasdaq: PRTC) ("PureTech" or the
"Company"), a clinical-stage biotherapeutics company dedicated to
discovering, developing and commercializing highly differentiated
medicines for devastating diseases, is pleased to note that its
Founded Entity, Vedanta Biosciences, today announced the
appointment of Troy Ignelzi as an independent member of its Board
of Directors.
Mr. Ignelzi has played a key role in seven IPOs, and currently
serves as the chief financial officer of Karuna Therapeutics. He
has more than 25 years of experience supporting life science
companies in finance, business development and operations, and has
helped oversee their evolutions from privately held, clinical-stage
companies to publicly traded biopharmaceutical companies preparing
for commercial launches.
The full text of the announcement from Vedanta Biosciences is as
follows:
Vedanta Biosciences Appoints Troy Ignelzi, Chief Financial
Officer at Karuna Therapeutics, to its Board of Directors
Mr. Ignelzi brings strong financial and operational expertise to
the board and will serve as chairman of the Audit Committee
CAMBRIDGE, November 24, 2020 - Vedanta Biosciences , a leading
clinical-stage company developing a new category of therapies for
immune-mediated diseases based on rationally-defined consortia of
human microbiome-derived bacteria, today announced the appointment
of Troy Ignelzi as an independent member of its Board of Directors.
Mr. Ignelzi has more than 25 years of experience supporting life
science companies in finance, business development and operations,
and has helped oversee their evolutions from privately held,
clinical-stage companies to publicly traded biopharmaceutical
companies preparing for commercial launches.
"We're excited to welcome Troy to the Vedanta board," said
Bernat Olle, Ph.D., co-founder and chief executive officer of
Vedanta Biosciences. "Troy has a wealth of expertise in the biotech
industry that can help guide our financial strategy as we move to
our next phase of development."
Mr. Ignelzi has played a key role in seven IPOs, and currently
serves as the chief financial officer of Karuna Therapeutics. He
joined Karuna in March 2019, coming from scPharmaceuticals, where
he was also in the role of chief financial officer overseeing its
transformation to a company preparing for commercial launch. Prior
to scPharmaceuticals, Mr. Ignelzi was a senior executive at
Juventas Therapeutics, Esperion Therapeutics and Insys
Therapeutics, helping raise public and private capital, expand
development pipelines through licensing and acquisition and
advancing critical therapies, several of which are currently
approved by the U.S. Food and Drug Administration. Mr. Ignelzi
holds a B.A. in accounting from Ferris State University.
"This is an exciting time for Vedanta and for the microbiome
field," said Mr. Ignelzi. "In this position, I look forward to
helping the Vedanta team advance defined bacterial consortia as a
new drug modality."
About Vedanta Biosciences
Vedanta Biosciences is leading the development of a potential
new category of oral therapies based on rationally defined
consortia of bacteria derived from the human microbiome. The
company's clinical-stage pipeline includes product candidates being
evaluated for the treatment of high-risk C. difficile infection,
inflammatory bowel diseases, advanced or metastatic cancers, and
food allergy. These investigational therapies are grounded in
pioneering research - published in leading journals including
Science , Nature , and Cell - to identify beneficial bacteria that
live symbiotically within the healthy human gut, fight pathogens
and induce a range of potent immune responses. Vedanta Biosciences
controls a foundational portfolio of more than 40 patents and has
built what is believed to be the world's biggest library of
bacteria derived from the human microbiome. Proprietary
capabilities include deep expertise in consortium design, vast
datasets from human interventional studies and cGMP-compliant
manufacturing of oral live biotherapeutics containing pure,
clonally derived bacterial consortia in powdered form. Vedanta
Biosciences was founded by PureTech Health (LSE: PRTC, Nasdaq: PRTC
) and a global team of scientific co-founders who pioneered
Vedanta's modern understanding of the cross-talk between the
microbiome and the immune system.
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated
to discovering, developing and commercializing highly
differentiated medicines for devastating diseases, including
intractable cancers, lymphatic and gastrointestinal diseases,
central nervous system disorders and inflammatory and immunological
diseases, among others. The Company has created a broad and deep
pipeline through the expertise of its experienced research and
development team and its extensive network of scientists,
clinicians and industry leaders. This pipeline, which is being
advanced both internally and through PureTech's Founded Entities,
is comprised of 24 products and product candidates, including two
that have received FDA clearance and European marketing
authorization. All of the underlying programs and platforms that
resulted in this pipeline of product candidates were initially
identified or discovered and then advanced by the PureTech team
through key validation points based on the Company's unique
insights into the biology of the brain, immune and gut, or BIG,
systems and the interface between those systems, referred to as the
BIG Axis.
For more information, visit www.puretechhealth.com or connect
with us on Twitter @puretechh.
Forward Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company's future prospects, developments, and strategies. The
forward looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, our expectations regarding the addition of Mr. Ignelzi to
Vedanta's Board of Directors and those risks and uncertainties
described in the risk factors included in the regulatory filings
for PureTech Health plc. These forward-looking statements are based
on assumptions regarding the present and future business strategies
of the company and the environment in which it will operate in the
future. Each forward-looking statement speaks only as at the date
of this press release. Except as required by law and regulatory
requirements, neither the company nor any other party intends to
update or revise these forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact:
Investors EU media
Allison Mead Talbot Ben Atwell, Rob Winder
+1 617 651 3156 +44 (0) 20 3727 1000
amt@puretechhealth.com ben.atwell@FTIconsulting.com
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END
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November 24, 2020 07:00 ET (12:00 GMT)
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