SOUTH PLAINFIELD, N.J., Dec. 19 /PRNewswire/ -- PTC Therapeutics, Inc. (PTC), a biopharmaceutical company focused on the discovery, development, and commercialization of small-molecule drugs targeting post-transcriptional control mechanisms, today named David P. Southwell to its Board of Directors.
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"Mr. Southwell brings additional broad-based biopharmaceutical expertise to PTC's Board of Directors," stated Dr. Stuart Peltz, President and Chief Executive Officer of PTC Therapeutics. "In particular, his extensive financial knowledge, as it relates to life sciences, will be of great value as PTC enters new stages of growth. We are honored and delighted that he has decided to join PTC's Board of Directors."
Mr. Southwell has been Executive Vice President and Chief Financial Officer of Sepracor Inc., a research-based pharmaceutical company dedicated to the treatment and prevention of human disease, since June 1994. During Mr. Southwell's tenure, Sepracor and its subsidiaries have raised approximately $3.0 billion in three equity and nine convertible financings, and the Company's market capitalization has risen from $70 million to approximately $6 billion. Prior to joining Sepracor, Mr. Southwell was a Vice President in investment banking with Lehman Brothers in New York. His career at Lehman spanned 10 years, and included mergers, acquisitions, leveraged buyouts, restructurings, and debt and equity financing transactions. While at Lehman, he managed the IPO of Sepracor in September 1991.
"I am honored to join the distinguished Board of Directors at this dynamic company," said Mr. Southwell. "PTC's approach to small-molecule drug discovery addresses major, intractable disorders and the management team has laid an outstanding foundation for success. I look forward to working with PTC's Board and team to accomplish the goals that lie ahead."
Mr. Southwell holds a BA from Rice University and an MBA from the Tuck School at Dartmouth College. Mr. Southwell is Chairman of the Board of BioSphere Medical and serves on the Board of the MBA Advisory Board of the Tuck School.
About PTC Therapeutics, Inc.
PTC is a biopharmaceutical company focused on the discovery, development, and commercialization of small-molecule drugs targeting post-transcriptional control mechanisms. Post-transcriptional control processes are the sequence of events in the cell that ultimately regulate the rate and timing of all protein production. PTC discovers and develops small molecule drugs that alter these processes by selectively modulating how RNA is used to produce proteins. This approach enables PTC to advance its drug discovery programs rapidly from targets to preclinical and clinical drug candidates, building a pipeline across genetic disorders, oncology, and infectious diseases.
Jane Baj PTC Therapeutics, Inc. (908) 222-7000, x167 jbaj@ptcbio.com Robert Stanislaro Noonan Russo (212) 845-4268 robert.stanislaro@eurorscg.com
Photo: http://www.newscom.com/cgi-bin/prnh/20010919/PTCLOGOPTC Therapeutics, Inc.CONTACT: Jane Baj of PTC Therapeutics, Inc., +1-908-222-7000 ext. 167,jbaj@ptcbio.com; or Robert Stanislaro of Noonan Russo, +1-212-845-4268,robert.stanislaro@eurorscg.com
Web site: http://www.ptcbio.com/
