Michael Moore Transitions to Deputy Chairman

CAMBRIDGE, UK – 5 December 2016 – Mission Therapeutics, a drug discovery and development company focused on selectively targeting deubiquitylating enzymes (DUBs) to treat cancer, neurodegenerative and other diseases, announces that Dr Colin Goddard has been appointed as non-executive Chairman, effective January 1st 2017. Dr Colin Goddard joined the board of Mission Therapeutics as a non-executive Director in July 2015. Michael Moore, Mission’s Founder Chairman, will continue on the board and transition to the role of Deputy Chairman.

Dr Michael Moore, Mission Therapeutics retiring Chairman, said: “On behalf of the Board, it gives me great pleasure to welcome Colin in his new role as the Company progresses to the next phase of its evolution. I look forward to continuing to work with him and the Board of Directors as, together with an outstanding management team we continue to shape the Company’s strategy. Colin’s timely accession extents the business reach of Mission commensurate with the significant advances in R&D.”

Dr Colin Goddard, newly appointed Chairman of Mission Therapeutics, added: “I would like to thank Michael for his guidance and support since joining the Board and I look forward to working with the Executive team and my Board colleagues as we build on Mission’s achievements to date. I firmly believe that the Company’s innovative DUB platform can yield transformational, first in class new therapies that address a broad range of unmet clinical needs.”

Dr Anker Lundemose, CEO of Mission Therapeutics, said: “We would like to thank Michael for his robust support and broad expertise during the formative period of the Company and for his role in nurturing the establishment of a powerful drug discovery platform and emerging product pipeline. Colin has a long track record of leadership and success in the industry including as Executive Chairman and CEO of both public and private US biopharma companies and we look forward to leveraging his experience as we exploit our pipeline and transition into a clinical stage company.”

Prior to joining Mission Therapeutics, Dr Goddard was Chief Executive Officer of OSI Pharmaceuticals. He joined the company as a research scientist in 1989 and led the transformation from a technology platform services company into a profitable fully integrated biopharmaceutical organisation, becoming CEO in 1998. He was pivotal in the registration and launch of OSI’s targeted therapeutic product, Tarceva (erlotinib) and also directed the Company’s financing, corporate development and acquisition strategies, completing several major acquisitions and divestitures and raising over $1.5bn in capital. OSI was acquired by Astellas Pharma Inc. in June 2010 for $4bn.

Dr Goddard obtained his PhD in cancer pharmacology from the University of Aston in Birmingham, UK and worked at the National Cancer Institute, Bethesda, MD, before joining OSI. He currently serves as Chairman & CEO of US based Biotech company, BlinkBio, Inc and as a Director on the boards of Endocyte Inc (NASDAQ: ECYT). He was formerly a Director at Human Genome Sciences Inc.

 

ENDS

For more information:

CONTACT:

Mission Therapeutics Ltd

Anker Lundemose MD PhD

Chief Executive Officer

Tel: +44 1223 497199

 

Hume Brophy

Conor Griffin, Alexia Faure, Alex Protsenko

Email: Missiontherapeutics@humebrophy.com

Tel: +44 20 7862 6381

 

Westwicke Partners (U.S.)

Chris Brinzey

Chris.brinzey@westwicke.com

339-970-2843

 

NOTES TO EDITORS:

 

About Mission Therapeutics

Mission Therapeutics, an early-stage drug development company targeting the ubiquitin pathway for the treatment of cancer, neurodegenerative, and other diseases of unmet need. The Company has built a leading platform for the discovery and development of first-in-class, small-molecule drugs that selectively target deubiquitylating enzymes (DUBs) – an emerging drug class that is attracting significant commercial interest in the area of protein homeostasis. Mission has strong links with key academic and research centers, including Cancer Research UK Laboratories and the University of Cambridge’s Jackson Laboratories at the Gurdon Institute, and a leadership team that has broad international, commercial and scientific experience. In February 2016, the Company completed an $86m financing that was led by Imperial Innovations and Woodford Patient Capital Trust and included participation from existing investors Sofinnova Partners, Roche Venture Fund, Pfizer Venture Investments and SR One. Mission Therapeutics was founded in 2011 and is based at the Babraham Research Campus, Cambridge, UK.