PRESS RELEASE
Memo Therapeutics AG appoints Paul Carter as Chairperson
* Virology and commercial expertise will support Phase III readiness and
commercial preparations of AntiBKV
* Extensive public and private market experience following executive positions
in numerous biopharma companies
Schlieren / Zurich, Switzerland, 8 July, 2024 - Memo Therapeutics AG
(https://memo-therapeutics.com/home.html) (or "MTx"), a late-stage biotech
company translating unique immune responses into superior medicines to treat
viral infections and cancer, today announces the appointment of Paul Carter as
Chairperson of the Board of Directors.
Paul has had an extensive executive career in the biopharma space, with
commercial and M&A expertise spanning North America, Europe, and Asia. He has
over 10 years of experience working in the virology field at Gilead Sciences
Inc., most recently as EVP and Chief Commercial Officer, where he oversaw over
$30 billion dollars of sales and contributed to multiple M&A transactions. Prior
to this, he spent seven years at GlaxoSmithKline ("GSK"), where he was
responsible for all GSK interests in the Greater China region.
Paul will replace Elias Papatheodorou, who was instrumental in the transition of
MTx from a preclinical-stage to a well-funded clinical-stage company with an
experienced and well-rounded management team. Elias is transitioning into an
executive role at a European biotech and will hand-over to Paul as part of a
planned succession process.
Erik van den Berg, CEO of MTx, commented: "We are delighted to welcome Paul
Carter as our Chairperson. Paul's track record and commercial and M&A expertise
make him a perfect addition to our team. We look forward to his advice and
support in driving the Company's continued success as we advance into a Phase
III ready organization. To Elias, we extend our gratitude for his significant
contributions to our company, culminating in our recently closed Series C
financing."
Paul Carter, incoming Chairperson at MTx, added: "I am thrilled to be taking on
this role at such a pivotal stage in MTx's development. The Company's AntiBKV
program shows tremendous promise, with Phase III trials fast approaching. BKV
remains a significant unmet need and I look forward to working closely with the
Board and management team on realizing AntiBKV's potential for kidney transplant
patients worldwide."
Following his successful career as an executive, Paul is now focused on his
Board and retained Advisory roles. He is currently a Board Member for a wide
range of public companies including HutchMed (Nasdaq/AIM:?HCM; HKEX:?13) and
Immatics (Nasdaq:IMTX), and has held prior Board roles at Alder
BioPharmaceuticals (Nasdaq:ALDR), acquired by Lundbeck (CPH:HLUN-A) for $2
billion, and VectivBio (Nasdaq:VECT), acquired by Ironwood Pharmaceuticals
(Nasdaq: IRWD) for $1 billion.
In May, MTx announced that it had raised an additional CHF 20 million, bringing
in new investors Kurma Partners and Ysios Capital and increasing its Series C
financing to CHF 45 million.
-Ends-
Contacts
Memo Therapeutics AG
info@memo-therapeutics.com (mailto:info@memo-
therapeutics.com)
ICR Consilium Amber Fennell, Ashley Tapp
memotx@consilium-comms.com
(mailto:memotx@consilium-comms.com) +44 (0)20 3709 5700
About Memo Therapeutics AG
Memo Therapeutics AG ("MTx") is a late-stage biotech company translating unique
immune responses into superior medicines through the development of best-in-
class antibodies to treat viral infections and cancer. The Company's lead
program, AntiBKV, is in Phase II development targeting BK viremia in kidney
transplant recipients, an infection which can result in decreased kidney
functionality and longevity and reduced patient survival. AntiBKV has the
potential to become the best and first-in-class BKV disease-modifying therapy
for kidney transplant patients with a market potential of more than $1bn.
Alongside AntiBKV, MTx is focused on discovering antibodies for novel oncology
targets, both alone and in partnership. The Company has a partnership in place
with Ono Pharmaceutical since late 2022. Underpinning MTx's core assets is its
proprietary DROPZYLLA® technology, an antibody repertoire copying engine with
high- throughput screening capabilities. MTx is a private company located in
Schlieren / Zurich and backed by investors including Ysios Capital, Kurma
Partners, Pureos Bioventures, Swisscanto, Vesalius Biocapital and Adjuvant
Capital. Learn more at www.memo-therapeutics.com (http://www.memo-
therapeutics.com), and on LinkedIn (https://www.linkedin.com/company/memo-
therapeutics-ag/?viewAsMember=true).
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