Ambrx Biopharma Inc. Appoints Paul Maier to Board of Directors and as Chair of the Audit Committee

Rhea-AI Summary

Ambrx Biopharma (NYSE: AMAM) has appointed Paul V. Maier to its Board of Directors and as Chair of the Audit Committee. Maier brings over 25 years of experience in the pharmaceutical and biotechnology sectors, having held senior roles at Sequenom and Ligand Pharmaceuticals. His expertise is expected to enhance Ambrx’s strategic direction and financial oversight as the company advances its pipeline of Engineered Precision Biologics, including antibody drug candidates and novel therapies. This leadership change aims to drive value creation for stakeholders.

Positive

• Appointment of Paul V. Maier to the Board and Audit Committee expected to enhance financial oversight and strategic direction.
• Maier's extensive experience in the pharmaceutical sector could strengthen the company's development plans.

Negative

• Concerns over continuity and potential gaps in experience with the new leadership.

SAN DIEGO--(BUSINESS WIRE)-- Ambrx Biopharma Inc., or Ambrx, (NYSE: AMAM), a clinical stage biopharmaceutical company using an expanded genetic code technology platform to create Engineered Precision Biologics, today announced the appointment of Paul V. Maier to its Board of Directors and as Chair of the Audit Committee.

“I am thrilled to welcome Paul to our Board and look forward to having him serve as the Chair of our Audit Committee moving forward,” said Feng Tian, Ph.D., Chairman of the Board, President, and CEO of Ambrx. “Paul is a distinguished executive whose financial pedigree and strategic experience will benefit Ambrx as we grow the company and progress our clinical candidates through their next stages of development.”

“I am excited by the potential of Ambrx’s engineered precision biologics and robust antibody drug candidates, as well as the company’s leadership team and development plans,” said Paul Maier, Chair of Ambrx Biopharma Inc’s Audit Committee. “I want to thank Tian and the Ambrx team for the opportunity to serve on the company’s Board and look forward to advising the company in the months and years ahead as we seek to create value for stakeholders and better treatment outcomes for patients.”

Paul Maier is a seasoned executive with extensive senior operational, international, and financial management experience, including 25 years in rapid growth pharmaceutical and biotechnology companies. Mr. Maier currently serves on the Board of Directors for Small Pharma Inc., 4D Pharma PLC, Eton Pharmaceuticals, and International Stem Cell Corporation. Most recently, Mr. Maier was Chief Financial Officer of Sequenom, Inc., from 2009 until 2014. Prior to Sequenom, Mr. Maier spent 15 years at Ligand Pharmaceuticals where he served as the Senior Vice President, Chief Financial Officer. Early in his career, Mr. Maier held various financial executive roles at companies such as DFS West and ICN Pharmaceuticals, Inc., and several other private companies.

Mr. Maier received his BS in Business Logistics from Pennsylvania State University and received his MBA from Harvard Graduate School of Business.

About Ambrx Biopharma Inc. (Ambrx)

Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics. These include next generation antibody drug conjugates (ADCs), bispecifics, targeted immuno-oncology therapies, novel cytokines to modulate the immune system, and long-acting therapeutic peptides for metabolic and cardiovascular disease. Ambrx is advancing a robust portfolio of clinical and preclinical programs designed to optimize efficacy, safety and ease of use, in multiple therapeutic areas, including its lead product candidate ARX788. In addition, Ambrx has clinical collaborations with multiple partners, for drug candidates generated using Ambrx technology. For more information, please visit www.ambrx.com.

Forward-Looking Statements

This press release includes certain “forward-looking statements” intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words “anticipate,” believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “may,” “will,” “could,” “should,” “seek,” “potential” and similar expressions, and include, without limitation, express or implied statements regarding Ambrx’s beliefs and expectations regarding the advancement and potential benefits of its product candidates, future growth of the company and anticipated contributions of Mr. Maier. Forward-looking statements are based on Ambrx’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Ambrx’s business, operations, strategy, goals and anticipated milestones; Ambrx’s ability to execute on its strategy including with respect to the timing of its R&D efforts, initiation of clinical studies and other anticipated milestones; risks associated with development of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results may not be consistent with preliminary results or results from prior preclinical studies or clinical trials; Ambrx’s ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption “Risk Factors” in Ambrx’s registration statement on Form F-1 filed with the United States Securities and Exchange Commission (SEC) on June 14, 2021, and elsewhere in Ambrx’s filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005026/en/

INVESTORS

Laurence Watts

Managing Director

Gilmartin Group, LLC.

619-916-7620

ir@ambrx.com

MEDIA

Ian Stone

Managing Director

Canale Communications

(619) 849-5388

media@ambrx.com

Source: Ambrx, Inc.

FAQ

Who is the new Chair of the Audit Committee at Ambrx Biopharma?

Paul V. Maier has been appointed as the Chair of the Audit Committee at Ambrx Biopharma.

What experience does Paul Maier bring to Ambrx Biopharma?

Paul Maier has over 25 years of experience in senior positions at pharmaceutical and biotechnology companies, including Sequenom and Ligand Pharmaceuticals.

What impact is expected from Paul Maier's appointment at Ambrx Biopharma?

His appointment is expected to enhance financial oversight and strategic direction as Ambrx advances its clinical candidates.

When was Paul Maier appointed to the Board of Ambrx Biopharma?

Paul Maier was appointed to the Board of Ambrx Biopharma in the recent press release.

How might Ambrx's leadership change affect its clinical development?

The leadership change may bring fresh perspectives and strategic guidance, potentially impacting the progression of their clinical candidates.