Prothena Announces Executive Appointments

Rhea-AI Summary

Prothena Corporation (NASDAQ:PRTA) announced key executive changes aimed at bolstering its transition to a fully integrated biotechnology company targeting rare diseases. Tran B. Nguyen has been appointed Chief Strategy Officer while continuing his role as Chief Financial Officer. Brandon Smith steps in as Chief Operating Officer. These roles focus on enhancing Prothena's long-term growth strategy, operational capabilities, and pipeline development, aiding in its mission to commercialize novel therapeutics for conditions like AL amyloidosis and Alzheimer’s disease.

Positive

• Tran B. Nguyen's appointment underscores leadership continuity and strategic focus.
• Brandon Smith's experience in biotechnology enhances operational capabilities.
• Management changes align with the company's growth strategy and pipeline development.

Negative

• None.

Expanded roles support the continued transition to a fully integrated biotechnology company focused on rare peripheral amyloid and neurodegenerative diseases

DUBLIN, Ireland, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise, today announced that Chief Financial Officer Tran B. Nguyen has been appointed to the additional and newly created role of Chief Strategy Officer. Brandon Smith will take over as Chief Operating Officer.

As Chief Strategy Officer and Chief Financial Officer, Mr. Nguyen will continue to work closely with Gene Kinney, Ph.D., President and Chief Executive Officer, and the rest of the management team. In this new capacity, he will be focused on developing and implementing Prothena’s long-term growth strategy aimed at driving sustainable value creation. Mr. Nguyen will also continue to oversee all financial, accounting, investor relations, communications, and corporate strategy responsibilities. As Chief Operating Officer, Mr. Smith will oversee Prothena’s infrastructure buildout, including commercial operations, manufacturing, and supply chain. Mr. Smith will also continue to lead Prothena’s business development initiatives, portfolio strategic planning and alliance management activities. Both appointments are effective immediately.

“Over the past year, we have made tremendous progress growing our pipeline with programs at every stage of development to facilitate our transition to a fully integrated research, development and commercial biotechnology company. These management enhancements best position us to leverage our momentum and set the company up for long-term growth and success,” said Dr. Kinney. “It’s exciting to formalize the role Tran has always played at Prothena – a key leader driving our strategic roadmap and growth path, and this work is taking on increasing importance as Prothena continues to expand. Brandon, who has been instrumental in leading our business development activities including the recent Novo Nordisk acquisition of our ATTR business, has extensive experience in biotechnology operations and will take over as Chief Operating Officer to continue building out Prothena’s capabilities. The team at Prothena looks forward to continuing to work closely with Tran and Brandon in their expanded executive capacities.”

“It is more important than ever for biotechnology companies to successfully transform from innovation hubs to well-positioned enterprises focused on long-term growth,” said Mr. Nguyen. “Leading this critical initiative for Prothena is a welcomed opportunity, and we are thrilled to continue to execute on our vision to deliver best in class treatments to patients.”

“Our employees’ ability to drive groundbreaking innovation for some of the most devastating diseases affecting society today is inspiring. Prothena is at an important inflection point, and we look forward to advancing our potentially life-changing novel therapies towards commercialization,” said Mr. Smith.

Executive Biographies

Mr. Nguyen has served as Prothena’s Chief Financial Officer since 2013 and served as Chief Operating Officer from 2018 through September 2021. He has over 20 years of finance experience in the biotechnology, banking, and private equity industries. Prior to joining Prothena, Mr. Nguyen held management positions at Somaxon Pharmaceuticals, Inc. and was its Chief Financial Officer until its sale in 2013. He was previously Vice President, Chief Financial Officer at Metabasis Therapeutics, Inc. until its sale in 2010. Mr. Nguyen currently serves on the board of Rain Therapeutics Inc., a public late-stage clinical precision oncology company. Mr. Nguyen earned his B.A. in Economics and Psychology from Claremont McKenna College and his M.B.A. from the Anderson School of Management at the University of California, Los Angeles.

Mr. Smith has served as Prothena’s Chief Business Officer since 2020. Prior to joining Prothena, he was Chief Operating Officer at Iconic Therapeutics, Inc. from 2017 to 2020. From 2012 to 2017, Mr. Smith held senior positions at Impax Laboratories, LLC, including Senior Vice President, Corporate Development and Strategy. Mr. Smith also held several positions of increasing responsibility at Amgen Inc. between 2005 and 2012, including the head of strategy for the company’s biosimilars business unit and the head of strategy and transaction analysis supporting a variety of M&A and licensing activities. Prior to Amgen, Mr. Smith was a Project Leader at the Boston Consulting Group. Mr. Smith earned his B.S. in Chemical Engineering at the University of Michigan and his M.B.A from The University of Texas at Austin McCombs Graduate School of Business.

About Prothena

Prothena Corporation plc is a late-stage clinical company with a robust pipeline of novel investigational therapeutics built on protein dysregulation expertise with the potential to change the course of devastating rare peripheral amyloid and neurodegenerative 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 & Investors:
Jennifer Zibuda, Director, Investor Relations & Communications
650-837-8535, jennifer.zibuda@prothena.com 

FAQ

What recent executive changes occurred at Prothena Corporation (NASDAQ:PRTA)?

Tran B. Nguyen was appointed Chief Strategy Officer while retaining his role as CFO, and Brandon Smith took over as Chief Operating Officer.

How do the management changes at Prothena affect its growth strategy?

The changes aim to strengthen Prothena’s long-term growth strategy and operational efficiency as it transitions to a fully integrated biotechnology company.

What is the focus of Prothena Corporation's pipeline?

Prothena's pipeline targets rare peripheral amyloid and neurodegenerative diseases, including AL amyloidosis and Alzheimer’s disease.

When were the executive appointments at Prothena announced?

The executive appointments were announced on October 1, 2021.