Structure Therapeutics Appoints Angus C. Russell to Board of Directors

Rhea-AI Summary

Structure Therapeutics Inc. (NASDAQ: GPCR) has appointed Angus C. Russell to its board of directors. Mr. Russell, former CEO of Shire plc, brings over 30 years of experience in the global biopharmaceutical industry. This appointment comes as Structure prepares to advance its oral small molecule GLP-1 agonist, GSBR-1290, into late-stage clinical development for obesity. CEO Raymond Stevens highlighted Russell's expertise in strategy, finance, operations, and commercialization as valuable assets for the company's growth. Russell expressed enthusiasm for Structure's potential in the obesity market, particularly with GSBR-1290 and its pipeline of oral small molecule therapeutics.

Positive

• Appointment of experienced biopharmaceutical leader Angus C. Russell to the board of directors
• Preparation for late-stage clinical development of GSBR-1290 for obesity treatment
• Potential for continuous innovation in the obesity market with multiple assets and programs

Negative

• None.

Former Shire CEO brings more than 30 years of experience in building and scaling companies in the global biopharmaceutical industry

SAN FRANCISCO, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Structure Therapeutics Inc. (NASDAQ: GPCR), a clinical-stage global biopharmaceutical company developing novel oral small molecule therapeutics for metabolic and pulmonary diseases, today announced the appointment of Angus C. Russell to its board of directors. Mr. Russell previously served as Chief Executive Officer of Shire plc and brings more than 30 years of experience in building and scaling companies in the global biopharmaceutical industry.

“Structure is at an important moment in its evolution as we prepare to advance our oral small molecule GLP-1 agonist, GSBR-1290, into late-stage clinical development for obesity,” said Raymond Stevens, Ph.D., Founder and CEO of Structure Therapeutics. “Angus is a seasoned biopharmaceutical leader with significant expertise across multiple company functions including strategy, finance, operations, and commercialization. His experience in building and scaling companies will help lead us into our next chapter of growth as we continue to progress our broad pipeline of oral small molecule therapeutics—all derived from our structure-based drug discovery platform—to make them more accessible to all.”

“Structure’s GSBR-1290, 2^nd and 3^rd generation assets, and next-generation oral combination programs have the potential to establish a cycle of continuous innovation in the obesity market to meet the evolving needs of millions of patients while maximizing accessibility,” said Mr. Russell. “Structure’s lead program, GSBR-1290, is just the beginning in the important space of metabolism and obesity. I am thrilled to join Structure’s board of directors to help lead the company into the future.”

Mr. Russell served as Chief Executive Officer of Shire plc, a biopharmaceutical company from June 2008 until April 2013, Shire’s Chief Financial Officer from 1999 to 2008, and a member of its board of directors from 1999 until 2013. While CEO at Shire, Mr. Russell was also the Chair of Shire’s Leadership Team and a lead member of the Shire Management Committee, which designed and implemented the company’s immensely successful long-term business strategy. Prior to joining Shire, Mr. Russell served at AstraZeneca plc, a pharmaceutical and biologics company, most recently as VP of Corporate Finance. Mr. Russell served on the Board of Directors of Mallinckrodt from August 2014 to June 2022 and of TherapeuticsMD, Inc. from March 2015 to December 2022. Mr. Russell currently serves as Chairman of the Board of Revance Therapeutics and is a board member of Lineage Cell Therapeutics, Inc.

About Structure Therapeutics 
Structure Therapeutics is a science-driven clinical-stage biopharmaceutical company focused on discovering and developing innovative oral small molecule treatments for chronic metabolic and cardiopulmonary conditions with significant unmet medical needs. Utilizing its next generation structure-based drug discovery platform, the Company has established a robust GPCR-targeted pipeline, featuring multiple wholly-owned proprietary clinical-stage small molecule compounds designed to surpass the scalability limitations of traditional biologic and peptide therapies and be accessible to more patients around the world. For additional information, please visit www.structuretx.com.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, without limitation, statements concerning: the Company’s future plans and prospects; the potential for the Company’s programs to establish a cycle of continuous innovation in the obesity market to meet the evolving needs of millions of patients while maximizing accessibility. In addition, when or if used in this press release, the words and phrases “expect,” “plan,” “potential,” “promising,” “to be,” and similar expressions and their variants, as they relate to the Company may identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. Readers are cautioned that actual results, levels of activity, safety, performance or events and circumstances could differ materially from those expressed or implied in the Company’s forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to the Company’s ability to advance GSBR-1290, LTSE-2578, ANPA-0073 and its other therapeutic candidates, obtain regulatory approval of and ultimately commercialize the Company’s therapeutic candidates, competitive products or approaches limiting the commercial value of the Company’s product candidates, the timing and results of preclinical and clinical trials, the Company’s ability to fund development activities and achieve development goals, the impact of any global pandemics, inflation, supply chain issues, rising interest rates and future bank failures on the Company’s business, its ability to protect its intellectual property and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on March 8, 2024, the Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024, and future reports the Company may file with the SEC from time to time. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Investors:
Danielle Keatley
Structure Therapeutics Inc.
ir@structuretx.com

Media:
Dan Budwick
1AB
Dan@1abmedia.com

FAQ

Who is the new board member appointed by Structure Therapeutics (GPCR)?

Structure Therapeutics (NASDAQ: GPCR) has appointed Angus C. Russell, former CEO of Shire plc, to its board of directors.

What is Structure Therapeutics' (GPCR) lead product candidate for obesity treatment?

Structure Therapeutics' lead product candidate for obesity treatment is GSBR-1290, an oral small molecule GLP-1 agonist preparing to enter late-stage clinical development.

What experience does Angus C. Russell bring to Structure Therapeutics (GPCR)?

Angus C. Russell brings over 30 years of experience in building and scaling companies in the global biopharmaceutical industry, including expertise in strategy, finance, operations, and commercialization.

What is Structure Therapeutics' (GPCR) focus in drug development?

Structure Therapeutics (GPCR) focuses on developing novel oral small molecule therapeutics for metabolic and pulmonary diseases using their structure-based drug discovery platform.