Nov 17, 2014, 08:00 ET
SOUTH PLAINFIELD, N.J., Nov. 17, 2014 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced the appointment of Tuyen Ong, M.D., MRCOphth, MBA, as Senior Vice President, Head of Clinical Development and Translational Research. Dr. Ong will be responsible for Clinical Development and Operations across all of PTC's therapeutic areas including genetic disorders, oncology and anti-infectives.
"I am excited by the opportunity to join PTC," said Dr. Ong. "The innovative science behind the novel compounds discovered and developed at PTC has produced a robust pipeline of product candidates. I look forward to advancing treatments for patients with rare and neglected diseases through PTC's novel pipeline."
In addition to the confirmatory Phase 3 clinical trials now underway for Translarna™ in Duchenne muscular dystrophy and cystic fibrosis, a proof-of-concept study is currently in preparation for Mucopolysaccharidosis or MPS 1. Beyond Translarna for nonsense mutation genetic disorders, PTC will shortly initiate a Phase 1 clinical trial of PTC596, a first-in-class, oral, potent and selective inhibitor of BMI1, which targets cancer stem cells that lead to cancer recurrence
Prior to joining PTC, Dr. Ong served as Vice President of Global Clinical Development and Operations at Valeant Pharmaceuticals (previously Bausch and Lomb). Dr. Ong played a key role in Bausch and Lomb's filing of new drug applications and its transformation under private equity firm, Warburg Pincus, into a global competitor in the specialty care sector. Previously, Dr. Ong worked at Pfizer Inc., developing drugs for diseases with high unmet medical need in various disease areas including respiratory, gastrointestinal, hepatology, and ophthalmology. Dr. Ong holds a medical degree from the University of London and received his MBA from New York University Stern School of Business.
"We are delighted to welcome Dr. Ong to lead our clinical team," stated Dr. Robert Spiegel, Chief Medical Officer of PTC Therapeutics. "This is an exciting time as we continue to expand our clinical pipeline. Dr. Ong's experience and leadership will be essential in the continued clinical development of Translarna as well as our programs in neuromuscular diseases, oncology, and anti-infective agents."
About PTC Therapeutics, Inc.
PTC is a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small molecule drugs that target post-transcriptional control processes. Post-transcriptional control processes regulate the rate and timing of protein production and are essential to proper cellular function. PTC's internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. PTC has developed proprietary technologies that it applies in its drug discovery activities and in collaborations with leading biopharmaceutical companies. PTC has received conditional marketing authorization in the European Economic Area for Translarna for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients aged five years and older. Translarna is an investigational new drug in the United States. For more information on the company, please visit our website www.ptcbio.com
PTC Therapeutics, Inc. Forward Looking Statements:
Any statements in this press release about future expectations, plans and prospects for PTC, the development of and potential market for PTC's product candidates, our clinical trials, our current and planned regulatory submissions, our earlier stage programs, the potential advantages of Translarna and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements involve substantial risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by these forward-looking statements. Such risks and uncertainties include, among others, those related to the timing and conduct of clinical trials, availability of data from clinical trials, expectations for regulatory approvals, our scientific approach and general development progress, the availability or commercial potential of our product candidates and other factors discussed in the "Risk Factors" in PTC's most recent Quarterly Report, which is on file with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent PTC's views only as of the date of this press release. You are urged to carefully consider all such factors. The forward-looking statements contained herein represent PTC's views only as of the date of this press release, and we do not undertake or plan to update or revise any such forward-looking statements to reflect actual results or changes in plans, prospects, assumptions, estimates or projections, or other circumstances occurring after the date of this release except as required by law.
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SOURCE PTC Therapeutics, Inc.
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