PTC Therapeutics Appoints Glenn D. Steele Jr., M.D., Ph.D. to Board of Directors

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Jun 15, 2015, 08:00 ET

SOUTH PLAINFIELD, N.J., June 15, 2015 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced the appointment of Glenn D. Steele Jr., M.D., Ph.D. to the company's Board of Directors. Dr. Steele served as President and Chief Executive Officer of Geisinger Health from March 2001 until May 2015 and is now Chairman of xG Health Solutions, a Geisinger spinoff.

"We are excited to welcome Glenn to our Board of Directors. His broad experience in transforming the Geisinger Health System and implementing innovative patient care models brings us a unique patient and payer perspective that will be extremely relevant as we move towards expanding into the US," said Stuart W. Peltz, Ph.D., Chief Executive Officer, PTC Therapeutics, Inc. "Glenn is an out of the box thinker with experience leading and growing a complex organization and will be an invaluable advisor as we expand our business, advance our product pipeline and build a cutting edge global biotechnology company."

Dr Steele previously served as the dean of the Biological Sciences Division and the Pritzker School of Medicine and vice president for medical affairs at the University of Chicago, as well as the Richard T. Crane Professor in the Department of Surgery. Prior to that, he was the William V. McDermott Professor of Surgery at Harvard Medical School, President and Chief Executive Officer of Deaconess Professional Practice Group and chairman of the department of surgery at New England Deaconess Hospital in Boston. Dr. Steele serves on the board of directors of several public companies, including, CEPHEID, Weis Markets Inc., and Wellcare Health Plans Inc. In addition, Dr. Steele serves on the governing body of several private organizations, including Bucknell University, xG Health Solutions, and Geisinger Health System.

"I am thrilled to join PTC's Board of Directors at this exciting time in the company's history," said Dr. Glenn Steele. "PTC's innovative science has fueled a broad pipeline of products that has tremendous potential to change the lives of patients with such high unmet medical need. I look forward to supporting PTC's goal of bringing meaningful new treatments to patients with rare and neglected disorders."

ABOUT PTC THERAPEUTICS, INC.
PTC is a global biopharmaceutical company focused on the discovery, development and commercialization of orally administered, proprietary small molecule drugs targeting an area of RNA biology we refer to as post-transcriptional control. Post-transcriptional control processes are the regulatory events that occur in cells during and after a messenger RNA is copied from DNA through the transcription process. PTC's internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. PTC has discovered all of its compounds currently under development using its proprietary technologies. PTC plans to continue to develop these compounds both on its own and through selective collaboration arrangements with leading pharmaceutical and biotechnology companies. For more information on the company, please visit our website www.ptcbio.com.

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FORWARD LOOKING STATEMENTS:
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements, other than those of historical fact, contained in this release, including statements regarding the future expectations, plans and prospects for PTC; objectives of management; the rate and degree of market acceptance and clinical utility of Translarna; the timing and conduct of PTC's clinical trials and studies of Translarna and its other programs and collaborations, including its SMA collaboration and its Phase 1 study under its cancer stem cell program; PTC's current and planned regulatory filings; PTC's strategy, future operations, future financial position, future revenues or projected costs, are forward-looking statements. Other forward-looking statements may be identified by the words "plan," "guidance," "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions.

PTC's actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements it makes as a result of a variety of risks and uncertainties, including those related to its ability to commercialize Translarna in general and specifically as a treatment for nonsense mutation DMD, including its ability to successfully negotiate favorable pricing and reimbursement processes on a timely basis in the countries in which it may obtain regulatory approval, including the countries in the European Economic Area; the initiation, conduct and availability of data from clinical trials and studies; expectations for regulatory approvals; PTC's scientific approach and general development progress; the eligible patient base and commercial potential of Translarna and PTC's other product candidates and the factors discussed in the "Risk Factors" section of PTC's most recent Quarterly Report on Form 10-Q as well as any updates to these risk factors filed from time to time in PTC's other filings with the SEC. 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 PTC does 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.

SOURCE PTC Therapeutics, Inc.