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In addition to the anticipated filing for regulatory approval of its leadproduct Glybera(R), a gene therapy product to control LipoProtein LipaseDeficiency (LPLD), AMT is focusing on accelerating the development of 4 ofits pipeline products, using its stable and scalable AAV (adeno-associatedviral vector) production platform. These projects are Hemophilia B, DuchenneMuscular Dystrophy, Acute Intermittent Porphyria and Parkinson's Disease.Furthermore AMT is implementing a business model combining proprietary andpartnered development of these products in order to retain value and conservecash.
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Piers Morgan is a University of Cambridge graduate (MA in Law andManagement Studies), who received his ACA Qualification while atPriceWaterhouseCoopers, and who worked in M&A advisory with Close BrothersCorporate Finance and Ernst & Young before starting his career inbiotechnology. He was Finance Director for Arrow Therapeutics where hesuccessfully raised equity and debt capital, became CFO of BioAlliance PharmaSA in Paris, France, where he led the company's IPO on Euronext, and recentlywas CFO and CBO at Phytopharm plc in the UK. He will succeed Andre Verwei,who was as AMT's CFO as from 2005.
Before joining AMT in 2006, Hans Preusting had more than 14 years ofexperience in the production process of biologicals at Gist-Brocades, DSMBiologics and Solvay Pharmaceuticals. He will take up the operationalresponsibilities of Dr Anthony Gringeri, who resigned from the position ofChief Operating Officer to return to his home country, the United States.
Jorn Aldag, Chief Executive Officer of AMT, comments: "I am very pleasedthat Piers Morgan is joining our management team. Piers has a successfulhistory as CFO in private and public biotechnology firms. He worked for 10years in M&A advisory and started his career in one of the big accountingfirms. Hans Preusting has been instrumental in establishing AMT's leadingposition in gene therapy, in particular its unique manufacturing capabilitiesand in progressing AMT's lead product Glybera to filing. With thesemanagement changes we now have the team in place to take the company to asuccessful future. I wish to thank Anthony Gringeri and Andre Verwei fortheir numerous valuable contributions to the growth of AMT over the previousyears."
About Amsterdam Molecular Therapeutics
AMT, founded in 1998 and based in Amsterdam, is a leader in thedevelopment of human gene based therapies. Using adeno-associated viral (AAV)vectors as the delivery vehicle of choice for therapeutic genes, the companyhas been able to design and validate what is probably the first stable andscalable AAV production platform. This safe and efficacious proprietaryplatform offers a unique manufacturing capability which can be applied to alarge number of rare (orphan) diseases that are caused by one faulty gene.Currently, AMT has a product pipeline with several AAV-based gene therapyproducts in LPL Deficiency, Hemophilia B, Duchenne Muscular Dystrophy, AcuteIntermittent Porphyria and Parkinson's Disease at different stages ofresearch or development.
Certain statements in this press release are "forward-looking statements"including those that refer to management's plans and expectations for futureoperations, prospects and financial condition. Words such as "strategy,""expects," "plans," "anticipates," "believes," "will," "continues,""estimates," "intends," "projects," "goals," "targets" and other words ofsimilar meaning are intended to identify such forward-looking statements.Such statements are based on the current expectations of the management ofAmsterdam Molecular Therapeutics only. Undue reliance should not be placed onthese statements because, by their nature, they are subject to known andunknown risks and can be affected by factors that are beyond the control ofAMT. Actual results could differ materially from current expectations due toa number of factors and uncertainties affecting AMT's business, including,but not limited to, the timely commencement and success of AMT's clinicaltrials and research endeavors, delays in receiving U.S. Food and DrugAdministration or other regulatory approvals (i.e. EMEA, Health Canada),market acceptance of AMT's products, effectiveness of AMT's marketing andsales efforts, development of competing therapies and/or technologies, theterms of any future strategic alliances, the need for additional capital, theinability to obtain, or meet, conditions imposed for required governmentaland regulatory approvals and consents. AMT expressly disclaims any intent orobligation to update these forward-looking statements except as required bylaw. For a more detailed description of the risk factors and uncertaintiesaffecting AMT, refer to the prospectus of AMT's initial public offering onJune 20, 2007, and AMT's public announcements made from time to time.
SOURCE Amsterdam Molecular Therapeutics B.V
