Denice Torres, J.D., former Board Member of
Karuna Therapeutics and accomplished healthcare executive at
Johnson & Johnson, Janssen Neuroscience and Eli Lilly,
appointed to Seaport Board of Directors
Eric Green, MBA, former development and
commercialization leader at Alnylam Pharmaceuticals, joins Seaport
as Chief Operating Officer
Michael Chen, Ph.D., Co-Founder of Seaport and
former Head of Innovation at PureTech Health named Seaport Chief
Scientific Officer
PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) (“PureTech” or the
“Company”), a clinical-stage biotherapeutics company, noted that
its Founded Entity, Seaport Therapeutics, a biopharmaceutical
company that is charting a proven path in neuropsychiatry, today
announced the appointment of Denice Torres, J.D., to its Board of
Directors. In addition, Michael Chen, Ph.D., Co-founder, was named
Chief Scientific Officer, and Eric Green, MBA, was appointed Chief
Operating Officer.
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the full release here:
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PureTech Founded Entity Seaport
Therapeutics Adds Industry Veteran to Board of Directors and Makes
Key Executive Appointments (Graphic: Business Wire)
The appointments follow the recent launch of Seaport, PureTech’s
newest Founded Entity, with a $100 million Series A financing
round. Consistent with its model, PureTech internally advanced
Seaport’s neuropsychiatric medicines programs to a key inflection
point, and the pipeline – which is now being advanced by Seaport –
can drive value for PureTech through an equity stake and license
consideration. This enables PureTech to share the significant costs
of later-stage development with outside investors and direct
additional resources to its innovative R&D engine for the
creation and validation of new therapeutic candidates. Following
the Series A financing, PureTech holds equity ownership in Seaport
of 61.5 percent on a diluted basis.
The full text of the announcement from Seaport is as
follows:
Seaport Therapeutics Adds Industry Veteran
to Board of Directors and Makes Key Executive Appointments
Denice Torres, J.D., former Board Member of
Karuna Therapeutics and accomplished healthcare executive at
Johnson & Johnson, Janssen Neuroscience and Eli Lilly,
appointed to Seaport Board of Directors
Eric Green, MBA, former development and
commercialization leader at Alnylam Pharmaceuticals, joins as Chief
Operating Officer
Michael Chen, Ph.D., Co-Founder of Seaport and
former Head of Innovation at PureTech Health named Chief Scientific
Officer
BOSTON, May 7, 2024 – Seaport Therapeutics, a
clinical-stage biopharmaceutical company that is charting a proven
path in neuropsychiatry, today announced the appointment of Denice
Torres, J.D., to its Board of Directors. In addition, Michael Chen,
Ph.D., Co-founder, was named Chief Scientific Officer, and Eric
Green, MBA, was appointed Chief Operating Officer. The appointments
follow the recent launch of Seaport with a $100 million Series A
financing round to advance the development of novel
neuropsychiatric medicines.
“We are incredibly honored to welcome Denice to our Board of
Directors. She is an exceptional healthcare leader with a track
record of successfully guiding organizations through significant
growth and transformation,” said Steve Paul, M.D., Founder and
Chair of the Board of Directors at Seaport. “Denice was a key
contributor on the Karuna Board and I am delighted to have the
opportunity to work with her again as we deliver on our mission to
bring first and best-in-class medicines to those who are suffering
from depression, anxiety and other neuropsychiatric disorders.”
Ms. Torres brings notable public and private board experience to
Seaport, including a position on the Board of Directors at Karuna
Therapeutics until its acquisition by Bristol Myers Squibb in March
2024. She has over 30 years of P&L, strategy, and leadership
experience in pharmaceuticals, consumer healthcare and medical
devices. Ms. Torres held several leadership positions at Johnson
& Johnson, including President of J&J Consumer Healthcare,
President of Janssen Neuroscience, and Chief Strategy Officer for
the medical device division. Before joining Johnson & Johnson,
she held senior leadership roles at Eli Lilly, including Executive
Director of Global Neuroscience and Head of Women's Healthcare. Ms.
Torres has received numerous awards, including Healthcare
Businesswomen's Association Woman of the Year, Johnson &
Johnson Working Mother of the Year, and the Johnson & Johnson
Special Recognition Leadership Award for her work in diversity and
inclusion.
“It’s an honor to join Seaport’s Board of Directors and a team
of world-class innovators with an incredible track record of
advancing the field of neuropsychiatry,” said Ms. Torres. “The
company’s Glyph™ platform, fueled by breakthrough science, has the
exciting potential to enhance the lives of millions of people
living with neuropsychiatric disorders.”
Mr. Green steps into the role of Chief Operating Officer
bringing nearly 25 years of biopharmaceutical development,
commercialization and operational experience. Most recently, Mr.
Green was Senior Vice President, Head of Development Programs at
Alnylam Pharmaceuticals where he led a team responsible for global
development and pre-commercialization activities for a portfolio of
development stage programs. His initial role at Alnylam was as
Senior Vice President, Global General Manager for the TTR
Franchise, leading the first ever global approval of a RNAi
therapeutic, ONPATTRO® (patisiran) and late-stage development of
vutrisiran (now AMVUTTRA®). Mr. Green’s diverse experience spans
across R&D process engineering, pharmaceutical manufacturing
and operations, and global development and commercialization
strategy with former roles at Synageva BioPharma, Infinity
Pharmaceuticals, Genzyme Corporation and Pfizer. He received an MBA
from MIT Sloan School of Management and a M.S. in chemical
engineering from MIT School of Engineering. He earned a B.S. in
chemical engineering from University of Michigan. At Seaport, he
will be responsible for implementing strategies to support the
growth and development of the company’s pipeline across the
organization.
Dr. Chen is Co-founder and has now been appointed Chief
Scientific Officer of Seaport. In his most recent role, Dr. Chen
was the Head of Innovation at PureTech Health, where he oversaw the
rapid advancement of the neuropsychiatric medicines that led to the
launch of Seaport. These novel medicines are now being advanced
within Seaport’s clinical-stage pipeline powered by the Glyph
platform, which leverages the lymphatic system to create new
medicines building on clinically validated mechanisms. Dr. Chen was
previously Co-founder and Head of Research and Strategy at Sonde
Health, a company developing vocal biomarkers for depression and
other neuropsychiatric disorders. He was a postdoctoral fellow at
Beth Israel Deaconess Medical Center and Harvard Medical School,
Department of Neurology. Dr. Chen completed his Ph.D. at Stanford
University, focusing on the neurobiological mechanisms of risk for
depression and sleep disorders. He received a B.A. from Yale
University.
“Denice exudes incredible passion and exuberance for making a
difference for patients, and we are delighted to enrich our board
with her energy and experience in neuroscience, manufacturing,
commercialization and organizational growth and culture. I feel
privileged to be able to work closely with her as we build out our
team and advance our pipeline programs,” said Daphne Zohar, Founder
and Chief Executive Officer at Seaport. “I’m also excited to
welcome two key members to our executive team. I had the pleasure
of working with Michael as he played a critical role in the
development of our Glyph platform and pipeline and I look forward
to working closely with him in this expanded role. Eric is an
accomplished leader and he will help propel Seaport forward as we
rapidly execute on our growth strategy and progress our pipeline of
important new medicines for patients in need.”
About Seaport Therapeutics
Seaport Therapeutics is a clinical-stage biopharmaceutical
company advancing the development of novel neuropsychiatric
medicines in areas of high unmet patient needs. The Company has a
proven strategy of advancing clinically validated mechanisms
previously held back by limitations that are overcome with its
proprietary GlyphTM technology platform. All the therapeutic
candidates in its pipeline of first and best-in-class medicines are
based on the Glyph platform, which is uniquely designed to enable
oral bioavailability, bypass first-pass metabolism and reduce
hepatotoxicity and other side effects. Seaport is led by an
experienced team that was involved in inventing and advancing KarXT
and other neuropsychiatric medicines and are guided by an extensive
network of renowned scientists, clinicians and key opinion leaders
across neurological specialties. For more information, please visit
www.seaporttx.com.
About PureTech Health
PureTech is a clinical-stage biotherapeutics company dedicated
to giving life to new classes of medicine to change the lives of
patients with devastating diseases. The Company has created a broad
and deep pipeline through its experienced research and development
team and its extensive network of scientists, clinicians and
industry leaders that is being advanced both internally and through
its Founded Entities. PureTech's R&D engine has resulted in the
development of 29 therapeutics and therapeutic candidates,
including two that have received both U.S. FDA clearance and
European marketing authorization and a third (KarXT) that has been
filed for FDA approval. A number of these programs are being
advanced by PureTech or its Founded Entities in various indications
and stages of clinical development, including registration enabling
studies. All of the underlying programs and platforms that resulted
in this pipeline of therapeutic candidates were initially
identified or discovered and then advanced by the PureTech team
through key validation points.
For more information, visit www.puretechhealth.com or connect
with us on X (formerly Twitter) @puretechh.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are or may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements contained
in this press release that do not relate to matters of historical
fact should be considered forward-looking statements, including
without limitation those related to Seaport’s development plans and
our future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks, uncertainties and other
important factors that could cause actual results, performance and
achievements to differ materially from current expectations,
including, but not limited to, those risks, uncertainties and other
important factors described under the caption "Risk Factors" in our
Annual Report on Form 20-F for the year ended December 31, 2023,
filed with the SEC and in our other regulatory filings. These
forward-looking statements are based on assumptions regarding the
present and future business strategies of the Company and the
environment in which it will operate in the future. Each
forward-looking statement speaks only as at the date of this press
release. Except as required by law and regulatory requirements, we
disclaim any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
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PureTech Public Relations
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UK/EU Media Ben Atwell, Rob Winder +44 (0) 20 3727 1000
puretech@fticonsulting.com
US Media Nichole Bobbyn +1 774 278 8273
nichole@tenbridgecommunications.com
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