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PTC Therapeutics, Inc. Announces Promotion of Neil Almstead to Senior Vice President of Chemistry and CMC

Published: May 02, 2007

SOUTH PLAINFIELD, N.J., May 2 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC), a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small-molecule drugs that target post- transcriptional control processes, today announced the promotion of Neil Almstead to Senior Vice President of Chemistry and CMC, Chemistry Manufacturing and Controls.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010919/PTCLOGO )

"Neil was one of the first ten employees at PTC," commented Stuart Peltz, Ph.D., President and CEO of PTC Therapeutics, Inc. "He was instrumental in establishing our chemistry capabilities which now include medicinal chemistry, analytical chemistry, chemistry informatics and formulation. Neil has directed multiple successful lead optimization programs and has developed CMC and manufacturing capabilities to support PTC's clinical programs. I am extremely pleased to announce Neil's promotion and look forward to working with him through the next stage of PTC's growth and development."

"I am honored to be a part of a phenomenal team here at PTC," said Dr. Almstead. "From our early drug discovery efforts through to the clinic, we have an excellent track record of accomplishments. I look forward to working with Stuart and my other colleagues on the further clinical development of PTC124 and PTC299 as well as advancing our numerous other programs."

Dr. Almstead joined PTC from Procter & Gamble (P&G) where he was directly involved in the areas of inflammatory diseases and oncology. At P&G he was project leader for both the Matrix Metalloproteinase and Map kinase inhibitor projects. Dr. Almstead has coauthored more than 75 publications and patents pertaining to the design and synthesis of lead candidate compounds for genetic disorders, oncology and inflammatory diseases. After receiving his Ph.D. in Organic Chemistry from the University of Illinois at Urbana-Champaign under the direction of Professor Scott Denmark, Dr. Almstead was a postdoctoral associate at the University of Basel in Switzerland with Professor Bernd Giese.

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 of central importance to proper cellular function. PTC's internally-discovered pipeline addresses multiple therapeutic areas, including genetic disorders, oncology, and infectious diseases. In addition, PTC has developed proprietary technologies and extensive knowledge of post-transcriptional control processes that it applies in its drug discovery and development activities, including the Gene Expression Modulation by Small-molecules (GEMS) technology platform, which has been the basis for collaborations with leading pharmaceutical and biotechnology companies such as Pfizer, CV Therapeutics, and Schering-Plough.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010919/PTCLOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comPTC Therapeutics, Inc.

CONTACT: Jane Baj of PTC Therapeutics, Inc., +1-908-222-7000, x167,jbaj@ptcbio.com; or Sheryl Seapy of Pure Communications, +1-949-608-0841,sheryl@purecommunicationsinc.com, for PTC Therapeutics, Inc.

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