Applied Molecular Transport Appoints Earl Douglas as General Counsel

Rhea-AI Summary

Applied Molecular Transport Inc. (AMTI) announced the appointment of Earl Douglas as General Counsel, enhancing its executive leadership amid critical timelines for clinical trials. Douglas, with over 30 years of experience, will lead all legal activities and support the advancement of their pipeline, including the upcoming release of top-line data for AMT-101 from four Phase 2 trials in the latter half of 2021. The company also continues to develop AMT-126, with the first subject dosed in Phase 1a trial earlier this year.

Positive

• Earl Douglas brings over 30 years of legal experience, expected to enhance the company's strategic direction.
• Upcoming top-line readouts for AMT-101 from Phase 2 trials could strengthen investor confidence.
• Expansion of clinical pipeline with AMT-126 may provide additional revenue opportunities.

Negative

• Management change may raise concerns about continuity and potential experience gaps within executive team.

Company continues to strengthen key functions of corporate leadership

Company on track to announce oral AMT-101 top-line data readouts from the four Phase 2 trials from its comprehensive clinical program beginning in the second half of 2021

Company expanded clinical pipeline with second program, oral AMT-126, and announced first subject dosed in Phase 1a trial in February 2021

SOUTH SAN FRANCISCO, Calif., March 22, 2021 (GLOBE NEWSWIRE) -- Applied Molecular Transport Inc. (Nasdaq: AMTI) (AMT), a clinical-stage biopharmaceutical company, today announced that it has appointed Earl Douglas as General Counsel. In his new role, Earl will assume leadership responsibilities for all legal activities of the Company. He will become a member of the AMT Executive Team, reporting to chief executive officer and co-founder of AMT, Tahir Mahmood, Ph.D.

“I am delighted to welcome Earl as our general counsel and latest member of our executive management team,” stated Tahir Mahmood, Ph.D. “Earl brings extensive legal and strategic advisory experience that will be invaluable as we continue to advance our promising pipeline of novel, oral biologic medicines. He is joining AMT at a critical time for the company, as we look forward to sharing top-line oral AMT-101 data readouts from the four Phase 2 trials from our comprehensive clinical program beginning in the second half of 2021 and as our second program, oral AMT-126, progresses through the clinic.”

Mr. Douglas joins with more than 30 years of deep experience, leading and building legal organizations for biotechnology and medical device organizations. Mr. Douglas most recently served as general counsel at Kiverdi. He has also served as general counsel and corporate secretary at BioMimetic Therapeutics (acquired by Wright Medical Group), Spinal Dynamics (acquired by Medtronic), and OPX Biotechnologies (acquired by Cargill). He also previously served as Counsel at Wilson Sonsini Goodrich & Rosati, and earlier in his career, practiced as an associate with Weil, Gotshal & Manges.

Mr. Douglas earned a B.S. in chemical engineering from the Massachusetts Institute of Technology and holds a J.D. from Columbia University School of Law.

“I am thrilled to be joining AMT at such an important point in the Company’s growth,” said Earl Douglas, general counsel of AMT. “I look forward to supporting the Company’s future progress with this accomplished team.”

About AMT-101
AMT-101 is a novel GI-selective, oral fusion of hIL-10 and AMT’s proprietary carrier molecule, which is currently being developed in four Phase 2 clinical trials in inflammatory bowel diseases and rheumatoid arthritis. AMT-101 is designed to cross the intestinal epithelium barrier with limited entry into the bloodstream, thereby focusing hIL-10 at the primary site of inflammation for UC and potentially avoiding the side effects observed with systemic administration. By design, AMT-101 is actively transported through the IE barrier into the GI tissue, the primary site of inflammation in UC.

About AMT-126
AMT-126 is a novel GI-selective, oral fusion of hIL-22 and AMT’s proprietary carrier molecule currently in development for diseases related to intestinal epithelial (IE) barrier defects. IL-22 is a cytokine that repairs structural and functional defects of the IE barrier and induces microbial defense. AMT-126 is designed to act locally on the epithelial cells of the intestinal tissue, thereby repairing the IE barrier and supporting mucosal healing, potentially translating into clinically meaningful improvements in a broad range of GI-focused, peripheral inflammatory and other diseases.

About Applied Molecular Transport Inc.
Applied Molecular Transport Inc. is a clinical-stage biopharmaceutical company leveraging its proprietary technology platform to design and develop a pipeline of novel oral biologic product candidates to treat autoimmune, inflammatory, metabolic, and other diseases. AMT’s proprietary technology platform allows it to exploit existing natural cellular trafficking pathways to facilitate the active transport of diverse therapeutic modalities across the intestinal epithelium (IE) barrier. Active transport is an efficient mechanism that uses the cell’s own machinery to transport materials across the IE barrier. AMT believes that its ability to exploit this mechanism is a key differentiator of its approach. AMT is developing additional oral biologic product candidates in patient-friendly oral forms that are designed to either target local gastrointestinal tissue or enter systemic circulation to precisely address the relevant biology of a disease.

AMT’s headquarters, internal GMP manufacturing and lab facilities are located in South San Francisco, CA. For additional information on AMT, please visit www.appliedmt.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or AMT’s future plans, strategy and performance. Such statements include, but are not limited to, the potential of, and expectations regarding AMT’s technology platform, AMT-101 and AMT-126, statements regarding AMT’s pipeline of product candidates, AMT’s Phase 2 clinical trials for AMT-101 including the timing of data readouts from such trials, AMT’s ability to leverage its technology to expand its pipeline and Mr. Douglas’ potential contributions to AMT. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially, including those more fully described under the section entitled “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and AMT assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

Investor Relations Contact:
Andrew Chang
Head, Investor Relations & Corporate Communications
achang@appliedmt.com

Media Contacts:
Alexandra Santos
Wheelhouse Life Science Advisors
asantos@wheelhouselsa.com

Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com

FAQ

Who is Earl Douglas in relation to AMTI?

Earl Douglas has been appointed as General Counsel of Applied Molecular Transport Inc., responsible for all legal activities.

What is the significance of AMT-101 trials for AMTI?

AMT-101 is undergoing four Phase 2 trials, with top-line data expected in the second half of 2021, which could impact stock performance.

What does the appointment of Earl Douglas mean for AMTI's future?

Douglas's appointment is aimed at strengthening legal oversight and supporting the advancement of AMT's clinical programs.

When will AMTI announce data from its clinical trials?

AMTI is set to announce top-line data for AMT-101 starting in the second half of 2021.