PureTech Founded Entity Seaport Therapeutics Appoints Seasoned Executives to Management Team

Rhea-AI Summary

Seaport Therapeutics, a PureTech founded entity, has appointed Dr. Antony Loebel and Lana Gladstein to key executive roles. Dr. Loebel, a CNS drug development expert and former CEO and CMO of Sunovion Pharmaceuticals, takes on the role of Chief Medical Officer and President of Clinical Development. He brings extensive experience, having led the development and commercialization of several CNS drugs, including LATUDA®, APTIOM®, and KYNMOBI®. Lana Gladstein joins as General Counsel, bringing over two decades of legal expertise, including corporate governance and intellectual property. She has held top legal positions in multiple companies, contributing to significant M&A transactions.

Positive

• Appointment of experienced executives with proven track records in CNS drug development and legal expertise.
• Dr. Loebel's history of successfully leading CNS drug projects such as LATUDA®, APTIOM®, and KYNMOBI® to market.
• Lana Gladstein's extensive experience in corporate governance, M&A transactions, and intellectual property.
• Potential for impactful advancements in neuropsychiatric medicines under new leadership.

Negative

• No immediate financial or clinical milestones were mentioned, which could raise uncertainty among investors.
• The impact of new appointments on short-term business performance is unclear.
• No specific timelines or project updates provided, possibly leading to a lack of actionable information for investors.

Antony Loebel, M.D., CNS drug development expert and former CEO and CMO at Sunovion Pharmaceuticals, appointed as Seaport’s Chief Medical Officer and President of Clinical Development

Lana Gladstein, J.D., experienced attorney across all legal matters, including corporate governance, M&A transactions, alliance management and intellectual property, joins Seaport as General Counsel

BOSTON--(BUSINESS WIRE)-- PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company, noted that its Founded Entity, Seaport Therapeutics, a biopharmaceutical company that is advancing novel neuropsychiatric medicines with a proven strategy and team, today announced it has expanded its executive team with the appointment of Antony Loebel, M.D., as Chief Medical Officer and President of Clinical Development, and Lana Gladstein, J.D., as General Counsel.

Dr. Loebel was most recently the President and Chief Executive Officer of Sunovion Pharmaceuticals, a global pharmaceutical company focused on CNS drug development and commercialization, from 2019 to 2023. He served as the company’s Chief Medical Officer from 2011 to 2019. Dr. Loebel was instrumental in the growth of Sunovion from a small to mid-size company with over $2.5 billion in net revenue. He played a key role in the development and commercialization of LATUDA® for the treatment of patients with bipolar depression and schizophrenia, with the product achieving commercial success in the U.S. and globally under his leadership. Other products developed and approved under Dr. Loebel’s leadership included APTIOM® for partial-onset seizures and KYNMOBI® for the treatment of “OFF” episodes in patients with Parkinson’s disease. Prior to Sunovion, Dr. Loebel’s industry experience included drug development and medical affairs roles at Dainippon Sumitomo Pharma America and Pfizer, Inc. A board-certified psychiatrist, Dr. Loebel is a Fellow of the American College of Neuropsychopharmacology and a Life Fellow of the American Psychiatric Association. He has received multiple recognitions and awards including the International Society of CNS Drug Development’s 20th Anniversary Award for a consistent track record of innovation and leadership in CNS drug development in 2022. He was also named to PharmaVOICE’s list of “100 Most Inspiring People” in 2013 and 2019. He received his M.D. from the University of Washington School of Medicine.

Lana Gladstein joins Seaport as General Counsel with over two decades of legal expertise, including corporate governance, navigating M&A transactions, licensing and partnerships, and intellectual property matters. Most recently, she was the Group General Counsel at APRINOIA Therapeutics, a clinical-stage company developing therapeutics and diagnostics for neurodegenerative diseases. Her prior roles include Chief Legal Officer at Recipharm (Americas), Chief Legal Officer and General Counsel at Arranta Bio (acquired by Recipharm), and Executive Vice President, General Counsel and Officer at Brammer Bio, (acquired by Thermo Fisher for $1.7 billion). Prior to Brammer Bio, Ms. Gladstein was a partner at Pepper Hamilton (now Troutman Pepper) and Nutter, and held previous positions at Goodwin and Nixon Peabody, where she advised life science companies on corporate and intellectual property matters. She holds a J.D. from Northeastern University School of Law and a B.A. in biology from Brandeis University.

The full text of the announcement from Seaport is as follows:

Seaport Therapeutics Appoints Seasoned Executives to Management Team

Antony Loebel, M.D., CNS drug development expert and former CEO and CMO at Sunovion Pharmaceuticals, appointed as Seaport’s Chief Medical Officer and President of Clinical Development

Lana Gladstein, J.D., experienced attorney across all legal matters, including corporate governance, M&A transactions, alliance management and intellectual property, joins Seaport as General Counsel

BOSTON, June 18, 2024 – Seaport Therapeutics, a clinical-stage biopharmaceutical company that is advancing novel neuropsychiatric medicines with a proven strategy and team, today announced it has expanded its executive team with the appointment of Antony Loebel, M.D., as Chief Medical Officer and President of Clinical Development, and Lana Gladstein, J.D., as General Counsel. Seaport’s senior leadership team also includes Steven M. Paul, M.D., Founder and Chair of the Board of Directors; Daphne Zohar, Founder, Chief Executive Officer and Board Member; Eric Green, MBA, Chief Operating Officer; and Michael Chen, Ph.D., Co-founder and Chief Scientific Officer.

“I’m delighted to welcome two more outstanding members to our senior executive team. As we design and run studies to advance our clinical-stage pipeline of novel therapeutics focused on important mental health conditions, Tony’s deep understanding of neuropsychiatric drug development builds on our team’s distinct advantages,” said Daphne Zohar, Founder and Chief Executive Officer of Seaport. “We are rapidly growing our company and Lana’s experience across all facets of legal, including corporate governance, transactions, and IP, will be an important resource to Seaport. I’m thrilled to have both Tony and Lana onboard.”

Dr. Loebel was most recently the President and Chief Executive Officer of Sunovion Pharmaceuticals, a global pharmaceutical company focused on CNS drug development and commercialization, from 2019 to 2023. He served as the company’s Chief Medical Officer from 2011 to 2019. Dr. Loebel was instrumental in the growth of Sunovion from a small to mid-size company with over $2.5 billion in net revenue. He played a key role in the development and commercialization of LATUDA® for the treatment of patients with bipolar depression and schizophrenia, with the product achieving commercial success in the U.S. and globally under his leadership. Other products developed and approved under Dr. Loebel’s leadership included APTIOM® for partial-onset seizures and KYNMOBI® for the treatment of “OFF” episodes in patients with Parkinson’s disease. Prior to Sunovion, Dr. Loebel’s industry experience included drug development and medical affairs roles at Dainippon Sumitomo Pharma America and Pfizer, Inc. A board-certified psychiatrist, Dr. Loebel is a Fellow of the American College of Neuropsychopharmacology and a Life Fellow of the American Psychiatric Association. He has received multiple recognitions and awards including the International Society of CNS Drug Development’s 20th Anniversary Award for a consistent track record of innovation and leadership in CNS drug development in 2022. He was also named to PharmaVOICE’s list of “100 Most Inspiring People” in 2013 and 2019. He received his M.D. from the University of Washington School of Medicine.

“I’m excited to join Daphne, Steve and the rest of the incredible team at Seaport to help further advance its robust pipeline of important neuropsychiatric medicines,” said Dr. Loebel. “We have a unique opportunity to make a meaningful difference for the millions of people struggling with serious mental health conditions, including depression and anxiety.”

Lana Gladstein joins Seaport as General Counsel with over two decades of legal expertise, including corporate governance, navigating M&A transactions, licensing and partnerships, and intellectual property matters. Most recently, she was the Group General Counsel at APRINOIA Therapeutics, a clinical-stage company developing therapeutics and diagnostics for neurodegenerative diseases. Her prior roles include Chief Legal Officer at Recipharm (Americas), Chief Legal Officer and General Counsel at Arranta Bio (acquired by Recipharm), and Executive Vice President, General Counsel and Officer at Brammer Bio, (acquired by Thermo Fisher for $1.7 billion). Prior to Brammer Bio, Ms. Gladstein was a partner at Pepper Hamilton (now Troutman Pepper) and Nutter, and held previous positions at Goodwin and Nixon Peabody, where she advised life science companies on corporate and intellectual property matters. She holds a J.D. from Northeastern University School of Law and a B.A. in biology from Brandeis University.

“I am humbled and thrilled to be joining the team at Seaport,” said Ms. Gladstein. “This is a team with an incredible track record of achievement and an unwavering commitment to advancing innovative therapeutics for patients. I look forward to leveraging my experience to build upon Seaport’s strong legal foundation and support its continued growth.”

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company advancing the development of novel neuropsychiatric medicines in areas of high unmet patient needs. The Company has a proven strategy of advancing clinically validated mechanisms previously held back by limitations that are overcome with its proprietary Glyph^TM technology platform. All the therapeutic candidates in its pipeline of first and best-in-class medicines are based on the Glyph platform, which is uniquely designed to enable oral bioavailability, bypass first-pass metabolism and reduce hepatotoxicity and other side effects. Seaport is led by an experienced team that invented and advanced important neuropsychiatric medicines and are guided by an extensive network of renowned scientists, clinicians and key opinion leaders. For more information, please visit www.seaporttx.com.

About PureTech Health

PureTech is a clinical-stage biotherapeutics company dedicated to giving life to new classes of medicine to change the lives of patients with devastating diseases. The Company has created a broad and deep pipeline through its experienced research and development team and its extensive network of scientists, clinicians and industry leaders that is being advanced both internally and through its Founded Entities. PureTech's R&D engine has resulted in the development of 29 therapeutics and therapeutic candidates, including two that have received both U.S. FDA clearance and European marketing authorization and a third (KarXT) that has been filed for FDA approval. A number of these programs are being advanced by PureTech or its Founded Entities in various indications and stages of clinical development, including registration enabling studies. All of the underlying programs and platforms that resulted in this pipeline of therapeutic candidates were initially identified or discovered and then advanced by the PureTech team through key validation points.

For more information, visit www.puretechhealth.com or connect with us on X (formerly Twitter) @puretechh.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are or may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation those related to Seaport’s development plans and our future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks, uncertainties and other important factors that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks, uncertainties and other important factors described under the caption "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC and in our other regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of the Company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, we disclaim any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

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Source: PureTech Health plc

FAQ

What executive changes did Seaport Therapeutics announce?

Seaport Therapeutics appointed Dr. Antony Loebel as Chief Medical Officer and President of Clinical Development and Lana Gladstein as General Counsel.

Who is Antony Loebel and what role will he play at Seaport Therapeutics?

Antony Loebel is a CNS drug development expert and former CEO and CMO at Sunovion Pharmaceuticals. He will serve as Seaport's Chief Medical Officer and President of Clinical Development.

What experience does Lana Gladstein bring to Seaport Therapeutics?

Lana Gladstein has over two decades of legal expertise in corporate governance, M&A transactions, and intellectual property. She joins Seaport as General Counsel.

What is the significance of Antony Loebel's appointment for Seaport Therapeutics?

Antony Loebel's appointment brings significant expertise in CNS drug development, having led successful projects at Sunovion Pharmaceuticals.