Biotech Investment Veteran Alethia Young Joins PTC Therapeutics' Board of Directors

Rhea-AI Summary

PTC Therapeutics announces the election of Alethia Young to its Board of Directors. Young brings over 20 years of experience in healthcare and biotech equity research, currently serving as CFO of Graphite Bio. Previously, she held senior positions at Cantor Fitzgerald, Credit Suisse, and Deutsche Bank. Young expressed enthusiasm about PTC's diverse pipeline aimed at rare diseases, emphasizing her commitment to leveraging her background for the company's growth. CEO Stuart W. Peltz highlighted her industry knowledge as a valuable asset for PTC's future success.

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• Alethia Young's extensive experience in biotech and healthcare is expected to enhance company strategy.
• Her proven track record in equity research could provide valuable insights for PTC's diversified pipeline.

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• None.

SOUTH PLAINFIELD, N.J., June 9, 2022 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced the election of Alethia Young to the company's Board of Directors. Ms. Young has more than 20 years of experience in healthcare and biotech equity research and investing. She is currently the Chief Financial Officer of Graphite Bio where she oversees the company's finance, investor relations and corporate communications functions, and plays a key role in overall corporate strategy.

"We are excited to welcome Alethia to PTC's Board of Directors," said Stuart W. Peltz, Ph.D., Chief Executive Officer of PTC Therapeutics. "Her experience combined with her extensive knowledge of our industry, as well as her natural wisdom, will help foster PTC's success as we continue to build the company."

Prior to her role at Graphite Bio, Ms. Young worked at Cantor Fitzgerald as senior biotech analyst and head of research, managing the equity research department covering small-cap, mid-cap and large-cap biotechnology companies. Prior to joining Cantor Fitzgerald, Ms. Young held senior biotech analyst positions at Credit Suisse and Deutsche Bank. Earlier in her career, she was a research policy analyst and president at Marwood Group, providing healthcare-focused advisory services to institutional investors. She began her career at J.P. Morgan in the investment banking and asset management divisions. She earned a B.A. in economics and Spanish from Duke University. She currently serves on the Board of Directors for BUILD NYC.

"PTC has a promising, diversified pipeline, and many of the scientific platforms hold great potential to develop treatments for the most devastating rare diseases," said Ms. Young. "I am excited to join PTC's Board and look forward to leveraging my background in healthcare and biotech research and investing to help the company deliver on its mission to bring innovative therapies to patients living with rare diseases."

About PTC Therapeutics
PTC is a science-driven, global biopharmaceutical company focused on the discovery, development and commercialization of clinically differentiated medicines that provide benefits to patients with rare disorders. PTC's ability to globally commercialize products is the foundation that drives investment in a robust and diversified pipeline of transformative medicines and our mission to provide access to best-in-class treatments for patients who have an unmet medical need. The company's strategy is to leverage its strong scientific expertise and global commercial infrastructure to maximize value for its patients and other stakeholders. To learn more about PTC, please visit us at www.ptcbio.com and follow us on Facebook, on Twitter at @PTCBio, and on LinkedIn.

For More Information:

Investors
Kylie O'Keefe
+1 (908) 300-0691
kokeefe@ptcbio.com

Media
Jeanine Clemente
+1 (908) 912-9406
jclemente@ptcbio.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements contained in this release, other than statements of historic fact, are forward-looking statements, including statements regarding: the future expectations, plans and prospects for PTC; PTC's strategy, future operations, future financial position, future revenues, projected costs; and the objectives of management. Other forward-looking statements may be identified by the words, "guidance", "plan," "anticipate," "believe," "estimate," "expect," "intend," "may," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions.

PTC's actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements it makes as a result of a variety of risks and uncertainties, including those related to: the outcome of pricing, coverage and reimbursement negotiations with third party payors for PTC's products or product candidates that PTC commercializes or may commercialize in the future; changes in tax and other laws, regulations, rates and policies; the eligible patient base and commercial potential of PTC's products and product candidates; PTC's scientific approach and general development progress; and the factors discussed in the "Risk Factors" section of PTC's most recent Annual Report on Form 10-K, as well as any updates to these risk factors filed from time to time in PTC's other filings with the SEC. You are urged to carefully consider all such factors.

As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that any product will receive or maintain regulatory approval in any territory, or prove to be commercially successful.

The forward-looking statements contained herein represent PTC's views only as of the date of this press release and PTC does not undertake or plan to update or revise any such forward-looking statements to reflect actual results or changes in plans, prospects, assumptions, estimates or projections, or other circumstances occurring after the date of this press release except as required by law.

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SOURCE PTC Therapeutics, Inc.

FAQ

Who is Alethia Young and what experience does she bring to PTC Therapeutics?

Alethia Young is the newly elected Board member at PTC Therapeutics, with over 20 years of experience in healthcare and biotech equity research, currently serving as CFO at Graphite Bio.

What are Alethia Young's previous roles before joining PTC Therapeutics?

Prior to PTC, Young held senior analyst positions at Cantor Fitzgerald, Credit Suisse, and Deutsche Bank, managing research for biotech companies.

What impact might Alethia Young's appointment have on PTC Therapeutics?

Her appointment is expected to contribute fresh perspectives and enhance strategic decisions, particularly regarding PTC's pipeline targeting rare diseases.

When was Alethia Young elected to PTC Therapeutics' Board of Directors?

Alethia Young was elected to PTC Therapeutics' Board of Directors on June 9, 2022.