Business
Stuart Peltz, Ph.D., Rare Disease Pioneer, to Retire as Chief Executive Officer of PTC Therapeutics
- Chief Operating Officer Matthew Klein, M.D., M.S., F.A.C.S. to become Chief Executive Officer and join the Board of Directors – - Conference call to be held
About this update from Ptc Therapeutics, Inc.
[{"type":"text","content":"- Chief Operating Officer Matthew Klein, M.D., M.S., F.A.C.S. to become Chief Executive Officer and join the Board of Directors –\n - Conference call to be held today, Fri., March 24th at 8:30 am ET -\nSOUTH PLAINFIELD, N.J., March 24, 2023 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT). Stuart Peltz, Ph.D., founding Chief Executive Officer (CEO) of PTC Therapeutics announced today that he is stepping down after 25 years. Dr. Peltz has led PTC Therapeutics as its CEO since its founding in 1998 and pioneered the field of RNA-directed drug development. Under his leadership, PTC has grown from a research organization with expertise in the control of RNA processes to a publicly traded, integrated, global biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for the treatment of neurological and neuromuscular disorders, metabolic disorders, and cancer.\n\n \n \n \n \n \n \n\n \n\"I have been involved with PTC almost since its inception. What Stuart and the team have achieved in 25 years is extraordinary,\" said Michael Schmertzler, Chairman of the Board of Directors. \"The Board and I are confident in the team Stuart has built and their ability to continue to deliver transformative treatments to those living with rare diseases. We wish Stuart all the best in his future endeavors and look forward to his continuing contributions to the company.\" \nMatthew Klein, M.D., M.S., F.A.C.S., current Chief Operating Officer, has been named the company's CEO and will join the Board of Directors. The transition is effective immediately. Dr. Peltz will serve as a Senior Consultant to the Company and join its Scientific Advisory Board following his retirement.\nPrior to joining PTC in 2019, Dr. Klein was CEO and Chief Medical Officer at BioElectron Technology Corporation, a biotechnology company focused on the development of redox-active small molecules for mitochondrial disease and related disorders of oxidative stress. PTC acquired BioElectron's assets in 2019.\nAs CEO and CMO of BioElectron, Dr. Klein led the restructuring of the company with successful implementation of new strategic and operational plans and led the development of two novel small molecules targeting CNS diseases from discovery to early and late clinical development stages. In addition, he oversaw the formation of ...