Translate Bio Announces Departure of Chief Financial Officer
Translate Bio (Nasdaq: TBIO) announced the departure of Chief Financial Officer John Schroer, effective year-end 2020, due to personal reasons. Robert Prentiss, Vice President and Corporate Controller, will serve as Principal Accounting Officer during the interim period until a new CFO is appointed. CEO Ronald Renaud acknowledged Schroer's contributions in transitioning to a public company and advancing strategic partnerships, especially in infectious disease vaccines. Translate Bio is focused on developing mRNA therapeutics for treating pulmonary diseases and has a lead candidate in a Phase 1/2 clinical trial for cystic fibrosis.
- Robert Prentiss, an experienced executive, will handle CFO duties on an interim basis.
- Translate Bio's mRNA technology shows promise in developing therapies for pulmonary diseases.
- The company has established strategic partnerships, enhancing its pipeline for infectious diseases.
- The departure of the CFO may create uncertainty in the company's financial leadership.
- Transition periods can disrupt ongoing financial operations and strategic initiatives.
LEXINGTON, Mass., Dec. 22, 2020 (GLOBE NEWSWIRE) -- Translate Bio (Nasdaq: TBIO), a clinical-stage messenger RNA (mRNA) therapeutics company developing a new class of potentially transformative medicines to treat or prevent debilitating or life-threatening diseases, announced today that John Schroer, the Company’s Chief Financial Officer (CFO), is departing the Company for personal reasons. Mr. Schroer's departure will be effective by year-end 2020. Robert Prentiss, Translate Bio’s Vice President and Corporate Controller since 2017, will serve as Principal Accounting Officer and report directly to the Company’s Chief Executive Officer, Ronald Renaud, on an interim basis while a formal search process to appoint a new CFO is conducted.
“John has played a valuable role on the leadership team as we transitioned to a public company, established a major strategic partnership for infectious disease vaccines and advanced our manufacturing activities and mRNA therapeutic programs,” said Ronald Renaud, Chief Executive Officer of Translate Bio. “We respect and support John's decision to return to the Bay Area, and we thank him for his contributions and wish him every success in the future.”
About Translate Bio
Translate Bio is a clinical-stage mRNA therapeutics company developing a new class of potentially transformative medicines to treat diseases caused by protein or gene dysfunction, or to prevent infectious diseases by generating protective immunity. Translate Bio is primarily focused on applying its technology to treat pulmonary diseases caused by insufficient protein production or where the reduction of proteins can modify disease. Translate Bio’s lead pulmonary candidate is being evaluated as an inhaled treatment for cystic fibrosis (CF) in a Phase 1/2 clinical trial. Additional pulmonary diseases are being evaluated in discovery-stage research programs that utilize a proprietary lung delivery platform. Translate Bio believes that mRNA can be delivered to target tissues via multiple routes of administration and, consequently, its technology may apply broadly to a wide range of diseases, including diseases that affect the liver. Translate Bio is also pursuing the development of mRNA vaccines for infectious diseases under a collaboration with Sanofi Pasteur.
| Investor Relations | Media Relations |
| Teri Dahlman | Maura Gavaghan |
| Tel.: +1 (617) 817-8655 | Tel: +1 (617) 233-1154 |
| tdahlman@translate.bio | mgavaghan@translate.bio |
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