Promentis Pharmaceuticals, Inc. Appoints Industry Veteran Chad Beyer, Ph.D., MBA, as President and CEO

MILWAUKEE, July 25, 2013 /PRNewswire/ -- Promentis Pharmaceuticals, Inc., a private, emerging pharmaceutical company focused on developing a therapeutic platform for neuropsychiatric disorders, with an initial emphasis on creating drugs for the treatment of schizophrenia, announced today that Chad Beyer, Ph.D., MBA, has been appointed as President and Chief Executive Officer.

With nearly 20 years experience, Dr. Beyer's career encompasses research, discovery and the business development of medications intended for central nervous system (CNS) and neurological disorders.  As an entrepreneur, Dr. Beyer has founded a biotech consulting company and helped launch a specialty pharmaceutical company focused on developing treatments for acute pain conditions.

Klaus Veltinger, M.D., Ph.D., and chairman of Promentis' board of directors, stated, "We are thrilled to have Chad on board, he brings exceptional development experience to a well-established program that has already made considerable progress."   

Given Dr. Beyer's significant and extremely relevant experience in neuroscience, we're confident his abilities will have a direct and marked impact on Promentis' growth efforts."

For more than a decade, Dr. Beyer worked in the Discovery Neuroscience group at Wyeth Pharmaceuticals, where he held multiple positions of increasing responsibility, including Head of Neurochemistry.  During his time at Wyeth, he also led several drug discovery teams and managed a group of scientists that contributed to the submission of more than 30 INDs and generated supporting data for the commercialization and life-cycle management of Effexor^® and Pristiq^®, two of the company's blockbuster medications.

"Promentis is aggressively moving innovative science and novel treatment strategies closer to the millions of people suffering with CNS diseases," said Dr. Beyer.  "I am honored to join this unique team and to lead the company's drug discovery efforts closer to patients and their families."

Shortly after beginning his research career at the National Institutes of Health (NIH) in NIDA's Addiction Research Center, Dr. Beyer earned his Ph.D. in Pharmacology from Louisiana State University Medical Center and an MBA from the Rutgers School of Business.  He has authored more than 70 manuscripts, been granted three patents, is an editor of Next Generation Antidepressants, a psychiatry review book, and is co-founder of the journal Technology Transfer & Entrepreneurship.  Dr. Beyer also serves as an adjunct faculty member at Thomas Jefferson University where he teaches Bioventure Management.

About Promentis Pharmaceuticals, Inc:
Promentis Pharmaceuticals, Inc. was founded in 2007 and is a private, emerging pharmaceutical company focused on developing unique compounds aimed at modifying brain chemistry for the treatment of schizophrenia and other central nervous system disorders.  Support for Promentis' drug discovery and development programs, in part, is provided by recent grants from the National Institute of Mental Health (NIMH) and the Michael J. Fox Foundation.  Additional information can be found at www.promentispharma.com.

Media Contact:
Tiberend Strategic Advisors, Inc.
(212) 375-2694
Andrew Mielach
[email protected]

SOURCE Promentis Pharmaceuticals, Inc.