TIDMPRTC
PureTech Health PLC
03 January 2018
3 January 2018
PureTech Health plc
PureTech Health Affiliate resTORbio Adds Lynne Sullivan, Biogen
Senior Vice President, to Board of Directors
PureTech Health plc (LSE: PRTC), an advanced, clinical-stage
biopharmaceutical company, is pleased to note that resTORbio, an
affiliate of PureTech Health, today announced that Lynne Sullivan,
Senior Vice President of Finance for Biogen, Inc., has joined the
resTORbio board of directors as an independent director. Ms.
Sullivan brings finance, accounting and strategy expertise to the
resTORbio Board. Since 2008, Ms. Sullivan has held global
responsibility for Biogen's Financial Planning & Analysis,
Corporate Tax and Corporate Finance groups. Her role includes
ownership of long-range planning, capital allocation projects and
the financial aspects of Mergers & Acquisitions/Business
Development. Prior to her work at Biogen, Ms. Sullivan served as
Vice President Tax for EMD Serono and as Vice President of Tax
North America at Merck KgaA.
The full text of the announcement from resTORbio is as
follows:
resTORbio Appoints Lynne Sullivan to Its Board of Directors
BOSTON, Massachusetts, January 3, 2018 - resTORbio, Inc., a
clinical-stage biopharmaceutical company focused on the development
and commercialisation of novel therapeutics for the treatment of
aging-related diseases, today announced that Lynne Sullivan, Senior
Vice President of Finance for Biogen, Inc. has joined the resTORbio
board of directors as an independent director. Ms. Sullivan will
serve as the chair of the Audit Committee.
"We are excited to have Lynne join our board of directors at
such an important stage in resTORbio's growth," said Chen Schor,
President and CEO of resTORbio. "We are fortunate to benefit from
Lynne's extensive experience in finance, accounting, financial
planning and strategy, as we grow a sustainable company with novel
therapeutics for aging-related diseases."
Lynne Sullivan said, "I am enthusiastic to be joining
resTORbio's board of directors, and I believe the company's
approach is well-suited to address aging-related diseases. As a
first indication, the potential to address the important public
health issue of respiratory tract infections in the elderly is
significant on many levels."
Ms. Sullivan is currently the Senior Vice President of Finance
for Biogen, Inc., where she has worked since 2008. Ms. Sullivan has
global responsibility for Biogen's Financial Planning &
Analysis, Corporate Tax, and Corporate Finance groups, which
includes ownership of long-range planning, capital allocation
projects and the financial aspects of Mergers &
Acquisitions/Business Development. Previously, Ms. Sullivan was the
Vice President of Tax for Biogen, Vice President Tax for EMD Serono
and the Vice President of Tax North America at Merck KgaA. She was
also a Tax Partner at Arthur Anderson, where she led the North East
Region's Tax Consulting Practice for the firm. Ms. Sullivan is on
the Board of Solid Biosciences, where she has chaired the Audit
Committee since 2015. Ms. Sullivan holds a BS in Accounting from
Suffolk University and a MS in Taxation from Bentley College.
About Respiratory Tract Infections (RTIs) in the Elderly
The decline in immune function that occurs during aging, or
immunosenescence, increases susceptibility to a variety of
diseases, including respiratory tract infections, or RTIs, that
significantly contribute to morbidity and mortality in the elderly.
According to the US Census Bureau, RTIs are the fifth leading cause
of death in people age 85 and over and the seventh leading cause of
death in people age 65 and over. RTIs also result in high
healthcare costs for the elderly population and burden the
healthcare system. The majority of RTIs are caused by viruses for
which there are no FDA-approved therapies. As the elderly represent
the fastest growing population in the world, there is significant
unmet medical need for innovative therapeutic options to reduce the
incidence of RTIs by enhancing the function of the aging immune
system.
About TORC1
Mechanistic target of rapamycin (mTOR) is a protein
serine/threonine kinase that regulates the process of aging and
aging-related diseases and conditions, via two complexes: TORC1 and
TORC2. TORC1 inhibition has been found to have many beneficial
effects on aging-related diseases and conditions, while TORC2
inhibition has been associated with adverse events including
hyperglycemia and hyperlipidemia. The TORC1 inhibitor program being
developed by resTORbio may, therefore, have therapeutic potential
to ameliorate multiple aging-related diseases without the
undesirable side effects associated with TORC2 inhibition.
About resTORbio
resTORbio, Inc. is a clinical-stage biopharmaceutical company
focused on the development and commercialisation of novel
therapeutics for the treatment of aging-related diseases.
resTORbio's lead program is targeting the target of rapamycin
complex 1 (TORC1) pathway to treat aging-related diseases and
conditions with an initial focus on conditions caused by
immunosenescence, the decline in immune function that occurs during
aging. resTORbio's lead product candidate, RTB101, alone or in
combination with everolimus, is in a Phase 2b clinical trial to
evaluate its potential in reducing the incidence of respiratory
tract infections (RTI) in elderly subjects at increased risk of
RTI-related morbidity and mortality. resTORbio's lead program is
supported by two Phase 2a clinical studies from which promising
safety and efficacy signals were observed in almost 500 elderly
subjects. resTORbio is pursuing a pragmatic clinical development
plan to address areas of key unmet medical need in the aging
population. For more information, please visit www.restorbio.com.
resTORbio is an affiliate of PureTech Health.
About PureTech Health
PureTech Health (PureTech Health plc, PRTC.L) is an advanced,
clinical-stage biopharmaceutical company developing novel medicines
targeting serious diseases that result from dysfunctions in the
nervous, immune, and gastrointestinal systems (brain-immune-gut or
the "BIG" axis), which together represent the adaptive human
systems. PureTech Health is at the forefront of understanding and
addressing the biological processes and crosstalk associated with
the BIG axis. By harnessing this emerging field of human biology,
the Company is pioneering new categories of medicine with the
potential to have great impact on people with serious diseases.
PureTech Health is advancing a rich pipeline of innovative
therapies that includes two pivotal stage programmes, multiple
human proof-of-concept studies and a number of early clinical and
pre-clinical programmes. PureTech's rich research and development
pipeline has been advanced in collaboration with some of the
world's leading scientific experts, who along with PureTech's team
of biopharma pioneers, entrepreneurs and seasoned Board, identify,
invent, and clinically de-risk new medicines. With this experienced
team pursuing cutting edge science, PureTech Health is building the
biopharma company of the future focused on improving and extending
the lives of people with serious disease. 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
PureTech'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, those risks and uncertainties described in the risk factors
included in the regulatory filings for PureTech Health. 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 PureTech Health 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:
PureTech Health FTI Consulting
------------------------ -----------------
Allison Mead Talbot Ben Atwell, Rob
+1 617 651 3156 Winder
amt@puretechhealth.com +44 (0) 20 3727
1000
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This information is provided by RNS
The company news service from the London Stock Exchange
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