Feb 19 2020
• Sandip Kapadia, Michael Vasconcelles and Vito J. Palombella nominated for election to the Board of Directors of Molecular Partners at the upcoming Annual General Meeting
• Nominees bring extensive expertise in the fields of oncology drug discovery, translational science, clinical development, portfolio management, commercial product launch, and capital formation
• Goran Ando, William Lee and Petri Vainio will not stand for re-election after 10 years or more on the Board of Directors
Zurich-Schlieren, SWITZERLAND—Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of drugs known as DARPin® therapies, today announced the nomination of three new board members, proposed for election at the 2020 Annual General Meeting on April 29, 2020.
Nominees are as follows:
• Sandip Kapadia, Chief Financial Officer (CFO) of Intercept Pharmaceuticals
• Michael Vasconcelles, M.D., Chief Medical Officer (CMO) of Flatiron Health
• Vito J. Palombella, Ph.D., Chief Scientific Officer (CSO) of Surface Oncology
These nominees have been selected to coincide with the transition of three current members of the board, Goran Ando, William Lee and Petri Vainio. Each of these board members has dutifully served on the Molecular Partners board for 10 years or more and will not stand for re-election. The board’s new nominees are veteran U.S. biotech executives and experts in their respective fields, each of which deeply aligns with the current and future growth strategy of Molecular Partners and complements well with the rest of the board’s backgrounds and skills. Their collective experience in finance, business development, innovative clinical trial design, and early-stage drug discovery will be critical to Molecular Partners’ ongoing growth into a fully integrated oncology company with multiple assets in clinical development.
“I am extremely happy with the nominees proposed for election to the Board of Directors. Each of them possesses an expertise that will be essential as we continue to grow and accelerate our platform of novel therapeutic designs, prepare for our first potential product approval, and carefully evaluate how we invest our capital,” said Bill Burns, Chairman of the Board of Directors at Molecular Partners. “As we welcome these new nominees, I wish to extend my thanks to our outgoing board members. For more than ten years, Goran, Bill and Petri have been guiding hands to this company. Each of these individuals remains aligned with the vision of Molecular Partners, and I know that they will continue to support the company as individuals, and investors, well into the future. We wish them all the best in their future endeavors.”
Sandip Kapadia is currently CFO of Intercept Pharmaceuticals, a biopharmaceutical company focused on the development and commercialization of novel therapeutics to treat progressive non-viral liver diseases. He has over 20 years of experience in building and leading finance and administration teams at life sciences companies both in Europe and in the United States. Prior to joining Intercept, Sandip held finance leadership positions over 19 years at Novartis and Novartis affiliates in the United States, Switzerland, the Netherlands, and the United Kingdom, including CFO of North America at Novartis’s generic division, Sandoz. He was previously on the board of Therachon AG and has been serving on the Board of Directors for Passage Bio since January 2020. Sandip earned his bachelor’s degree in business administration and accounting from Montclair State University, an MBA from Rutgers Graduate School of Management and is a certified public accountant.
Michael Vasconcelles, M.D., is currently CMO of Flatiron Health, a healthcare technology and services company focused on accelerating cancer research and improving patient care. Prior to Flatiron, Michael served as CMO at Unum Therapeutics Inc., a Cambridge-based oncology biotech focused on developing autologous engineered T cell products for the treatment of cancer. Previously, Michael was accountable for the research and development strategy and execution of the oncology portfolio at both Takeda/Millennium and Genzyme, from discovery through product licensure and post-approval. Michael joined the faculty of the Harvard Medical School in 1996 and is currently a clinical instructor in medicine at Harvard Medical School and a practicing oncologist and associate physician at the Dana-Farber Cancer Institute and Brigham & Women’s Hospital in Boston.
Vito J. Palombella, Ph.D., is currently CSO of Surface Oncology, an immuno-oncology company developing next-generation antibody therapies focused on the tumor microenvironment, where he leads the Company’s drug discovery and translational research efforts. Vito has over 25 years of scientific leadership and experience advancing first-in-class therapeutic programs. Prior to Surface, he was EVP and CSO at Infinity Pharmaceuticals, where he was responsible for drug discovery and preclinical development. Previously, he was director of molecular biology and protein chemistry at Syntonix Pharmaceuticals, senior director of cell and molecular biology at Millennium Pharmaceuticals, and held a number of positions at LeukoSite and ProScript. Vito was involved in the discovery and development of bortezomib (Velcade®), a proteasome inhibitor, and duvelisib (Copiktra®), a PI3K-d/g inhibitor, both for cancer therapy. Vito earned his bachelor’s degree in microbiology from Rutgers University and a master’s degree and doctorate degree in viral oncology and immunology from the New York University Medical Center.
About Molecular Partners AG
Molecular Partners AG is a clinical-stage biotech company that is developing a new class of therapies known as DARPin® therapeutics. The company continues to attract talented individuals who share the passion to develop breakthrough medicines for serious diseases. Molecular Partners has compounds in various stages of clinical and preclinical development and several more in the research stage, with a current focus on oncology and immuno-oncology. The company establishes research and development partnerships with leading pharmaceutical companies and is backed by established biotech investors.
For more information regarding Molecular Partners AG, go to: www.molecularpartners.com.
For further details, please contact:
Seth Lewis, SVP IR, Comms, & Strategy
Tel: +41 44 755 77 00
Lisa Raffensperger, International Media
Tel: +1 617 903 8783
Thomas Schneckenburger, IR & Media
Tel: +41 44 755 5728
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Molecular Partners AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly not in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments or intentions.