PTC Therapeutics Inc. Announces Appointments to Board of Directors

Apr 03, 2001, 01:00 ET from PTC Therapeutics Inc.

    SOUTH PLAINFIELD, N.J., April 3 /PRNewswire/ -- PTC Therapeutics Inc.
 announced today it has appointed to its Board of Directors: Ms. Ruth Kunath of
 Vulcan Ventures Inc.; Mr. Michael Schmertzler, of an investment advisor to
 Credit Suisse First Boston Equity Partners, L.P.; Mr. Peter Svennilson of
 Three Crowns Capital; Dr. Marc Ostro, formerly Senior Managing Director of
 KPMG and a founder of The Liposome Company; Dr. Harvey J. Berger, Chairman and
 Chief Executive Officer of ARIAD Pharmaceuticals, Inc.; and, Dr. Bill
 Stephenson, Vice President of Research, University of Medicine and Dentistry
 of New Jersey.
     "We are delighted to have assembled a Board of Directors comprised of
 strategic leaders in our industry.  The new scientific and technological
 approaches developed by PTC, as well as the uniqueness of our focus, mandated
 the selection of a creative and dynamic Board.  These individuals possess a
 track record of innovation and share our commitment to outstanding scientific
 standards and aggressive growth plans," said Stuart W. Peltz, Ph.D., President
 and CEO of PTC.
     "We are excited to be part of PTC Therapeutics," said Ms. Ruth Kunath of
 Vulcan Ventures. "Vulcan participates in a select few private investments in
 the Biotech arena, focusing on very dynamic companies that will have a major
 impact in medicine."
     Ms. Kunath has been biotechnology portfolio manager since 1992 for Vulcan
 Ventures Inc., the venture capital firm founded by investor Paul G. Allen.  In
 addition to PTC, Ms. Kunath serves on the board of directors of Curis,
 Dendreon Corporation, and Rosetta Inpharmatics.
     Michael Schmertzler, the designee of Credit Suisse First Boston Equity
 Partners, L.P. and Credit Suisse First Boston (Bermuda), L.P., until recently
 served as the Co-Head of CSFB's U.S. and Canadian Private Equity activities
 where he joined in 1997 after lengthy experience in principal investing as
 President of Morgan Stanley's merchant banking activities in the 1980s and as
 a founder and lead investor in a number of life sciences companies in the
 1990s. He was formerly Chief Financial Officer of Lehman Brothers Kuhn Loeb.
     Peter Svennilson is the Founder, Principal and CEO of Three Crowns Capital
 Ltd., a biotech investment banking boutique based in Bermuda. In addition to
 PTC, Mr. Svennilson has helped start, develop or finance several key US
 biotech companies such as Tularik, Rosetta Inpharmatics, Sunesis
 Pharmaceuticals, Somalogic and Chemocentryx Therapeutics.  In addition to PTC,
 Mr. Svennilson serves on the following board of directors: Rosetta
 Inpharmatics, Somalogic, and Chemocentryx.
     Harvey J. Berger, M.D. is the principal founder of ARIAD Pharmaceuticals,
 Inc. (Nasdaq: ARIA) and has served as its Chairman and Chief Executive Officer
 since 1991.  Previously, Dr. Berger held a series of senior management
 positions at Centocor, Inc., a biotechnology company, most recently as
 Executive Vice President and President, Research and Development Division.  He
 also held senior academic and administrative appointments at Emory University,
 Yale University and the University of Pennsylvania.
     Marc Ostro most recently was Senior Managing Director and Head of
 Corporate Finance in KPMG's Life Sciences Group.  Before joining KPMG, he was
 a Managing Director and Senior Biotechnology Analyst at UBS Securities.  Dr.
 Ostro was one of the founders of The Liposome Company and is also serves on
 the board of Napro Biotherapeutics, Polymerix, e-medSecurities.
     Bill Stephenson, Ph.D. is Vice President for Research at the University of
 Medicine and Dentistry of New Jersey.  Prior to joining UMDNJ, Dr. Stephenson
 operated and invested in several biotechnology companies, and held senior R&D
 management positions at Sybron and Fisher Scientific.  Prior to entering the
 business world, Dr. Stephenson rose through the professorial ranks in the
 Chemistry Departments at Stanford and the University of Southern California.
     PTC Therapeutics Inc. is a privately held biopharmaceutical company
 focused on the discovery and commercialization of orally active small molecule
 drugs by applying its proprietary expertise and platform technologies in RNA-
 targeted gene expression (Post Transcriptional Control).  PTC's technologies
 allow drug discovery programs to progress rapidly from gene sequencing to lead
 compounds by identifying small molecules that selectively bind to either RNA
 targets or proteins that interact with RNA.  PTC is working in collaboration
 with Tularik Inc. (Nasdaq: TLRK) to discover therapeutics that can treat a
 large number of genetically inherited disorders, such as cystic fibrosis and
 inherited forms of cancer.  Utilizing its technology platform, PTC is
 developing orally active, small molecule drugs to address a broad range of
 therapeutic targets.  PTC's technology provides a general approach for all
 genetic-based diseases and the Company currently has drug discovery programs
 in oncology, infectious diseases and inflammatory disorders.
 
     For more information please contact:
     Claudia Hirawat, Senior Director, Corporate Development,
 PTC Therapeutics Inc. Phone: (908) 222-7000, x106  chirawat@ptcbio.com
 www.ptcbio.com
 
     Rod Smith, Ogilvy Public Relations-Boston  Phone: (617) 577-0006
 rsmith@fkhealth.com  www.fkhealth.com
 
 

SOURCE PTC Therapeutics Inc.
    SOUTH PLAINFIELD, N.J., April 3 /PRNewswire/ -- PTC Therapeutics Inc.
 announced today it has appointed to its Board of Directors: Ms. Ruth Kunath of
 Vulcan Ventures Inc.; Mr. Michael Schmertzler, of an investment advisor to
 Credit Suisse First Boston Equity Partners, L.P.; Mr. Peter Svennilson of
 Three Crowns Capital; Dr. Marc Ostro, formerly Senior Managing Director of
 KPMG and a founder of The Liposome Company; Dr. Harvey J. Berger, Chairman and
 Chief Executive Officer of ARIAD Pharmaceuticals, Inc.; and, Dr. Bill
 Stephenson, Vice President of Research, University of Medicine and Dentistry
 of New Jersey.
     "We are delighted to have assembled a Board of Directors comprised of
 strategic leaders in our industry.  The new scientific and technological
 approaches developed by PTC, as well as the uniqueness of our focus, mandated
 the selection of a creative and dynamic Board.  These individuals possess a
 track record of innovation and share our commitment to outstanding scientific
 standards and aggressive growth plans," said Stuart W. Peltz, Ph.D., President
 and CEO of PTC.
     "We are excited to be part of PTC Therapeutics," said Ms. Ruth Kunath of
 Vulcan Ventures. "Vulcan participates in a select few private investments in
 the Biotech arena, focusing on very dynamic companies that will have a major
 impact in medicine."
     Ms. Kunath has been biotechnology portfolio manager since 1992 for Vulcan
 Ventures Inc., the venture capital firm founded by investor Paul G. Allen.  In
 addition to PTC, Ms. Kunath serves on the board of directors of Curis,
 Dendreon Corporation, and Rosetta Inpharmatics.
     Michael Schmertzler, the designee of Credit Suisse First Boston Equity
 Partners, L.P. and Credit Suisse First Boston (Bermuda), L.P., until recently
 served as the Co-Head of CSFB's U.S. and Canadian Private Equity activities
 where he joined in 1997 after lengthy experience in principal investing as
 President of Morgan Stanley's merchant banking activities in the 1980s and as
 a founder and lead investor in a number of life sciences companies in the
 1990s. He was formerly Chief Financial Officer of Lehman Brothers Kuhn Loeb.
     Peter Svennilson is the Founder, Principal and CEO of Three Crowns Capital
 Ltd., a biotech investment banking boutique based in Bermuda. In addition to
 PTC, Mr. Svennilson has helped start, develop or finance several key US
 biotech companies such as Tularik, Rosetta Inpharmatics, Sunesis
 Pharmaceuticals, Somalogic and Chemocentryx Therapeutics.  In addition to PTC,
 Mr. Svennilson serves on the following board of directors: Rosetta
 Inpharmatics, Somalogic, and Chemocentryx.
     Harvey J. Berger, M.D. is the principal founder of ARIAD Pharmaceuticals,
 Inc. (Nasdaq: ARIA) and has served as its Chairman and Chief Executive Officer
 since 1991.  Previously, Dr. Berger held a series of senior management
 positions at Centocor, Inc., a biotechnology company, most recently as
 Executive Vice President and President, Research and Development Division.  He
 also held senior academic and administrative appointments at Emory University,
 Yale University and the University of Pennsylvania.
     Marc Ostro most recently was Senior Managing Director and Head of
 Corporate Finance in KPMG's Life Sciences Group.  Before joining KPMG, he was
 a Managing Director and Senior Biotechnology Analyst at UBS Securities.  Dr.
 Ostro was one of the founders of The Liposome Company and is also serves on
 the board of Napro Biotherapeutics, Polymerix, e-medSecurities.
     Bill Stephenson, Ph.D. is Vice President for Research at the University of
 Medicine and Dentistry of New Jersey.  Prior to joining UMDNJ, Dr. Stephenson
 operated and invested in several biotechnology companies, and held senior R&D
 management positions at Sybron and Fisher Scientific.  Prior to entering the
 business world, Dr. Stephenson rose through the professorial ranks in the
 Chemistry Departments at Stanford and the University of Southern California.
     PTC Therapeutics Inc. is a privately held biopharmaceutical company
 focused on the discovery and commercialization of orally active small molecule
 drugs by applying its proprietary expertise and platform technologies in RNA-
 targeted gene expression (Post Transcriptional Control).  PTC's technologies
 allow drug discovery programs to progress rapidly from gene sequencing to lead
 compounds by identifying small molecules that selectively bind to either RNA
 targets or proteins that interact with RNA.  PTC is working in collaboration
 with Tularik Inc. (Nasdaq: TLRK) to discover therapeutics that can treat a
 large number of genetically inherited disorders, such as cystic fibrosis and
 inherited forms of cancer.  Utilizing its technology platform, PTC is
 developing orally active, small molecule drugs to address a broad range of
 therapeutic targets.  PTC's technology provides a general approach for all
 genetic-based diseases and the Company currently has drug discovery programs
 in oncology, infectious diseases and inflammatory disorders.
 
     For more information please contact:
     Claudia Hirawat, Senior Director, Corporate Development,
 PTC Therapeutics Inc. Phone: (908) 222-7000, x106  chirawat@ptcbio.com
 www.ptcbio.com
 
     Rod Smith, Ogilvy Public Relations-Boston  Phone: (617) 577-0006
 rsmith@fkhealth.com  www.fkhealth.com
 
 SOURCE  PTC Therapeutics Inc.