4D Molecular Therapeutics Announces Resignation of Professor David Schaffer, Ph.D. from the Company’s Board of Directors

Rhea-AI Summary

On February 22, 2022, 4D Molecular Therapeutics (Nasdaq: FDMT) announced the resignation of Professor David Schaffer, Ph.D., from its board of directors. This transition comes as the company evolves into a clinical-stage gene therapy firm, with five products currently in development. Professor Schaffer, who has served on the board since 2013, is taking up new roles at UC Berkeley, while emphasizing the company’s strengthened board with new independent directors. 4DMT aims to leverage its Therapeutic Vector Evolution platform for gene therapy innovations in ophthalmology, cardiology, and pulmonology.

Positive

• Strengthened board with new experienced independent directors.
• Continued development of five products in clinical stages.
• The company is evolving towards pre-commercial and late-stage clinical capabilities.

Negative

• Loss of a long-term board member with substantial experience.

EMERYVILLE, Calif., Feb. 22, 2022 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT), a clinical-stage gene therapy company harnessing the power of directed evolution for targeted gene therapies announced that Professor David Schaffer, Ph.D. has resigned as a director of 4D Molecular Therapeutics.

Professor Schaffer’s transition coincides with the evolution of 4DMT into a clinical-stage gene therapy company with five products in clinical development and plans to develop pre-commercial and late-stage clinical-regulatory capabilities, in addition to our on-going internal vector invention and GMP manufacturing platforms. Professor Schaffer was recently appointed Director of California Institute for Quantitative Biosciences (QB3) at U.C. Berkeley, and Deputy Director of the Bakar Labs at the Bakar BioEnginuity Hub, and he continues as Professor of Chemical and Biomolecular Engineering, Bioengineering, Molecular and Cell Biology at U.C. Berkeley. In addition to these major new roles, Professor Schaffer plans to pursue other early-stage technology opportunities outside of AAV gene therapy. For nearly nine years since company formation in 2013, Professor Schaffer served on the 4DMT board of directors.

“On behalf of the company and the entire board, I would like to thank David for his service and extraordinary contributions to the 4DMT founding team and Board of Directors over roughly nine years,” said David Kirn, M.D., Co-Founder and Chief Executive Officer of 4DMT. “David’s contributions supported the company’s growth from a scientific platform company into a diversified clinical development stage company with a robust product pipeline and five products in clinical development, as well as strong platforms for vector invention, product engineering and GMP manufacturing.”

“It has been an honor to help 4D grow since 2013,” said David Schaffer, PhD. “4D has grown and evolved into a leading clinical-stage next-generation gene therapy company. I leave knowing that the Board of Directors has been strengthened greatly by the recent additions of four independent and deeply experienced directors, including adding expertise in product commercialization, business development and finance. Additionally, the Therapeutic Vector Evolution platform is in the hands of an outstanding team that has improved and expanded the original technology. I would like to thank the entire board, the company and our shareholders for many years of success together. I’m looking forward to new opportunities, including in my recently announced leadership positions with QB3 and the Bakar Labs at UC Berkeley.”

About 4DMT

4DMT is a clinical-stage company harnessing the power of directed evolution for targeted gene therapies. 4DMT seeks to unlock the full potential of gene therapy using its platform, Therapeutic Vector Evolution, which combines the power of directed evolution with approximately one billion synthetic capsid sequences to invent evolved vectors for use in targeted gene therapy products. The company is initially focused on five clinical-stage products in three therapeutic areas: ophthalmology, cardiology (including Fabry disease) and pulmonology. The 4DMT targeted and evolved vectors are invented with the goal of being delivered through clinically routine, well-tolerated and minimally invasive routes of administration, transducing diseased cells in target tissues efficiently, having reduced immunogenicity and, where relevant, having resistance to pre-existing antibodies. The five 4DMT product candidates in clinical development are : 4D-310 for Fabry disease, 4D-150 for wet AMD, 4D-125 for XLRP, 4D-110 for choroideremia and 4D-710 for cystic fibrosis.

Contacts:

Media:

Carolyne Zimmermann
Chief Business Officer
czimmermann@4dmt.com

Investors:

Mike Zanoni
VP, Investor Relations
mzanoni@4dmt.com

FAQ

What did 4D Molecular Therapeutics announce on February 22, 2022?

4D Molecular Therapeutics announced the resignation of Professor David Schaffer from its board of directors.

What impact does Professor Schaffer’s resignation have on 4D Molecular Therapeutics?

His departure could imply a loss of experience, although the board has been strengthened with new independent directors.

What is the focus of 4D Molecular Therapeutics' clinical development?

4D Molecular Therapeutics focuses on gene therapies for ophthalmology, cardiology, and pulmonology with five products in clinical development.

How long did Professor Schaffer serve on the board of 4D Molecular Therapeutics?

Professor Schaffer served on the board for nearly nine years, from the company's formation in 2013.