Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, announced today the appointment of Daniel G. Welch to its Board of Directors as an independent director and Chair Designate following a comprehensive search process in connection with the board’s regular succession planning.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240221419945/en/

Daniel G. Welch (Photo: Business Wire)

Upon election by the shareholders at Prothena’s Annual General Meeting later this year, the Board intends to appoint Mr. Welch as Chair of the Board. The planned transition is in anticipation of the conclusion of Dr. Lars Ekman’s successful 11-year tenure as Chair during which he made significant contributions to the Company’s growth and success. Dr. Ekman will step down as Chair and continue to serve on the board as Chair Emeritus, following the anticipated appointment of Mr. Welch. The entire Prothena Board expresses their sincere gratitude for Dr. Ekman’s valuable service as Chair. Additionally, Dr. Anders Harfstrand, whose current board term will expire at the Annual Meeting, is not standing for re-election at the Annual Meeting.

“Dan is a highly respected business leader with a wealth of industry expertise, chair experience and a strong passion and proven ability for bringing innovative therapies to patients. He will help guide the company during this transformational time as it continues to advance a robust pipeline in neurodegenerative and rare peripheral amyloid diseases,” commented Lars G. Ekman, M.D., Ph.D., Chair of Prothena’s Board of Directors. “We look forward to working closely with Dan on a seamless transition enabled by a shared commitment to develop and commercialize novel and transformative medicines to create a better future for people in critical need of new treatment options. I would also like to thank Dr. Harfstrand for his 9 years of service and recognize his significant contributions to the Prothena Board during his tenure.”

“Prothena’s deep scientific expertise in protein dysregulation is clearly reflected in its promising pipeline which is guided by patient-focused drug development. I am excited to join at a dynamic time for the company with multiple upcoming milestones that could establish Prothena as a leader in Alzheimer’s therapeutic approaches and rare peripheral amyloid diseases,” said Mr. Welch. “I look forward to working with my fellow board members and the entire team at Prothena to further realize our vision to bring transformative therapies to those patients most in need.”

Mr. Welch serves as the chair of the boards of Structure Therapeutics Inc., Nuvation Bio Inc., and Ultragenyx Pharmaceuticals Inc. He recently served as a director of Seagen Inc. which was acquired by Pfizer in December 2023. He previously served as chair of the board of AveXis Inc (acquired by Novartis in 2018), and as a director of Intercept Pharmaceuticals, Inc. and Hyperion Therapeutics (acquired by Horizon Pharma in 2015). Prior to these roles he served as an executive partner at Sofinnova Ventures, as CEO and president of InterMune, Inc. (acquired by Roche Holdings in 2014), as chair of the board of InterMune, as chair of the board and CEO of Triangle Pharmaceuticals, Inc. (acquired by Gilead Sciences in 2003), and as president of the pharmaceutical division of Elan Corporation, PLC.

Mr. Welch earned his B.A. from the University of Miami and his M.B.A. from the University of North Carolina.

With Dr. Anders Harfstrand not standing for re-election at the Annual Meeting, the Board plans to reduce the size of the Board to ten members immediately after the Annual Meeting. Dr. Harfstrand has been a director since 2015 and the entire Prothena Board acknowledges and appreciates his positive impact during his service.

About Prothena

Prothena Corporation plc is a late-stage clinical biotechnology company with expertise in protein dysregulation and a pipeline of investigational therapeutics with the potential to change the course of devastating neurodegenerative and rare peripheral amyloid diseases. Fueled by its deep scientific expertise built over decades of research, Prothena is advancing a pipeline of therapeutic candidates for a number of indications and novel targets for which its ability to integrate scientific insights around neurological dysfunction and the biology of misfolded proteins can be leveraged. Prothena’s pipeline includes both wholly-owned and partnered programs being developed for the potential treatment of diseases including AL amyloidosis, ATTR amyloidosis, Alzheimer’s disease, Parkinson’s disease and a number of other neurodegenerative diseases. For more information, please visit the Company’s website at www.prothena.com and follow the Company on Twitter @ProthenaCorp.

Media Michael Bachner, Senior Director, Corporate Communications 609-664-7308, michael.bachner@prothena.com

Investors Mark Johnson, CFA, Vice President, Investor Relations 650-417-1974, mark.johnson@prothena.com

Prothena (NASDAQ:PRTA)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Prothena Charts.
Prothena (NASDAQ:PRTA)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Prothena Charts.