SOUTH PLAINFIELD, N.J., June 13, 2014 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that Shane Kovacs, Chief Financial Officer, has received the 2014 Deal of the Year Award from the New Jersey Technology Council (NJTC). The Deal of the Year Award is part of the annual NJTC CFO Awards Breakfast, which recognizes the accomplishments of financial executives from the region's diverse technology community.
"I am honored to receive the CFO Deal of the Year Award. When I joined PTC last year, we had just closed on a successful private placement and were about to kick-off what would also prove to be a very successful IPO. The combination of PTC's novel science, late-stage assets, a promising pipeline and a focus on rare and neglected disorders drew strong interest from institutional investors for both our IPO and our subsequent follow-on equity offering," said Shane Kovacs, Chief Financial Officer of PTC Therapeutics, Inc. "The combined capital we raised will allow PTC to continue to advance the clinical development of our pipeline candidates and to prepare for the anticipated launch of Translarna for the treatment of Duchenne muscular dystrophy across Europe. I am excited to be a part of the PTC team at such a transformational time in the history of the company."
"We are very proud for Shane to be recognized as an accomplished CFO. He joined the company a year ago and has been a valuable addition to the team. His broad depth of experience gives him the ability to work cross-functionally at PTC and help shape the strategic direction of our company," stated Stuart Peltz, Ph.D., Chief Executive Officer of PTC Therapeutics, Inc. "Shane's expertise will be influential as PTC prepares to launch its first drug in Europe and build-out a commercial organization."
Prior to joining PTC, Mr. Kovacs served as Managing Director, Health Care Investment Banking at Credit Suisse. In this capacity, he focused on advising life science companies on transactions ranging from equity and debt financings to mergers and acquisitions.
About PTC Therapeutics, Inc.
PTC is a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small molecule drugs that target post-transcriptional control processes. Post-transcriptional control processes regulate the rate and timing of protein production and are essential to proper cellular function. PTC's internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. PTC has developed proprietary technologies that it applies in its drug discovery activities and in collaborations with leading biopharmaceutical companies. For more information on the company, please visit our website www.ptcbio.com
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements, other than those of historical fact, contained in this release, are forward-looking statements including statements regarding the future expectations, plans and prospects for PTC; the timing of and our ability to obtain marketing approval, including conditional approval in the European Union, of Translarna for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD); our ability to launch, market, commercialize and achieve market acceptance for Translarna and other product candidates that we are developing or may develop in the future; the ability of Translarna and our other product candidates to meet existing or future regulatory standards; our plans to pursue research and development of other product candidates; the development of and potential market for PTC's product candidates; our strategy, future operations, future financial position, future revenues or projected costs; and the objectives of management. Other forward-looking statements may be identified by the words "anticipate," "prepare," "plan," "continue," "believe," "expect," "intend," "may," "potential," "will," "would," "estimate," and similar expressions. Our actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements we make as a result of a variety of risks and uncertainties, including among others, those related to our expectations for regulatory approvals, including the European Commission's determination with respect to conditional marketing authorization for Translarna in nmDMD; the initiation and conduct of clinical trials; availability of data from clinical trials; our scientific approach and general development progress; the availability or commercial potential of our product candidates; market acceptance by the medical community; and the other factors discussed in the "Risk Factors" section of our most recent Quarterly Report on Form 10-Q and in our other filings with the Securities and Exchange Commission. You are urged to carefully consider all such factors. The forward-looking statements contained herein represent PTC's views only as of the date of this press release, and we do not undertake or plan to update or revise any such forward-looking statements to reflect actual results or changes in plans, prospects, assumptions, estimates or projections, or other circumstances occurring after the date of this release.
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SOURCE PTC Therapeutics, Inc.