Stuart Peltz, Ph.D., founding Chief Executive Officer (CEO) of PTC Therapeutics announced that he is stepping down after 25 years. Dr. Peltz led PTC Therapeutics as its CEO since its founding in 1998 and pioneered the field of RNA-directed drug development. And under his leadership, PTC has grown from a research organization with expertise in the control of RNA processes to a publicly-traded, integrated, global biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for the treatment of neurological and neuromuscular disorders, metabolic disorders, and cancer.
Matthew Klein, M.D., M.S., F.A.C.S., the current Chief Operating Officer, has been named the company’s CEO and will join the Board of Directors. And the transition is effective immediately. Dr. Peltz will serve as a Senior Consultant to the Company and join its Scientific Advisory Board following his retirement.
Prior to joining PTC in 2019, Dr. Klein was CEO and Chief Medical Officer at BioElectron Technology Corporation, a biotechnology company focused on the development of redox-active small molecules for mitochondrial disease and related disorders of oxidative stress. PTC acquired BioElectron’s assets in 2019.
While CEO and CMO of BioElectron, Dr. Klein led the restructuring of the company with successful implementation of new strategic and operational plans and led the development of 2 novel small molecules targeting CNS diseases from discovery to early and late clinical development stages. And he oversaw the formation of an oncology platform that yielded several novel preclinical compounds with novel approaches to targeting cancer.
Dr. Klein had joined PTC as Global Head of Gene & Mitochondrial Therapies and then assumed the role of Chief Development Officer prior to the promotion to COO in January 2022. At PTC, he oversaw the company’s broad development pipeline now with five ongoing registration-directed clinical trials and headed the efforts in achieving EMA approval for Upstaza, the first ever gene therapy directly administered to the brain.
KEY QUOTES:
“I have been involved with PTC almost since its inception. What Stuart and the team have achieved in 25 years is extraordinary. The Board and I are confident in the team Stuart has built and their ability to continue to deliver transformative treatments to those living with rare diseases. We wish Stuart all the best in his future endeavors and look forward to his continuing contributions to the company.”
— Michael Schmertzler, Chairman of the Board of Directors
“The PTC team and patients and families around the world have benefited tremendously from Stu’s scientific expertise and leadership. I am grateful to the Board for its confidence in appointing me as his successor. I am extremely proud to have the opportunity to lead PTC’s experienced and dedicated team into its next quarter century as we advance our pioneering science to develop valuable and transformative therapies for children and adults with unmet medical needs. We will enrich PTC’s unwavering commitments to patients and to prudent enterprise growth based on our robust product portfolio, global commercial infrastructure, and unique scientific and drug development strengths.”
— Dr. Klein
