Motif Bio plc (AIM: MTFB) the clinical stage biopharmaceutical company specialising in developing novel antibiotics, today announces the appointment of Pete A. Meyers as Chief Financial Officer and Rajesh B. Shukla, Ph.D. as Vice President, Clinical Operations.
Mr. Meyers joins the Company from TetraLogic Pharmaceuticals Corporation (NASDAQ: TLOG) where he was CFO and Treasurer. Prior to his role at TetraLogic, Mr. Meyers spent 18 years in health care investment banking, holding positions of increasing responsibility at Dillon, Read & Co., Credit Suisse First Boston LLC and, most recently, as Co-Head of Global Health Care Investment Banking at Deutsche Bank Securities Inc. Mr. Meyers earned his BS, summa cum laude, in Finance from Boston College, Chestnut Hill, MA and an MBA, cum laude, in Finance from Columbia Business School, New York, NY. His appointment commences on 1 May 2016.
Bob Bertoldi, Motif Bio’s current CFO and Director, will transition his CFO responsibilities to Mr. Meyers but will continue as a Director to contribute to the future success of the Company, in particular focusing on the successful execution of our clinical trials.
Dr. Shukla is an accomplished clinical operations professional with extensive experience in Research, Development and Medical Affairs. He joins the Company from ACORDA Therapeutics where he was Senior Medical Director Clinical Development and Medical Affairs. He was previously Head, R&D Global Clinical and Medical Affairs at Pfizer Global Established Products, reporting to the Division Head. Dr. Shukla earned his BS in Biochemistry from Lehigh University in Bethlehem, PA and a PhD from Carnegie-Mellon University in Pittsburgh, PA. His appointment commenced on 5 April 2016.
The Company has also appointed Jonathan Gold, currently a non-executive director of Motif Bio plc, as a strategic financial consultant under a consulting agreement (the “Consulting Agreement”) to assist the Company in its capital raising plans. Mr. Gold’s consulting term will be for an initial period of six months from 1 January 2016 reflecting his efforts since that date. Under the terms of the Consulting Agreement, the Company will pay Mr. Gold US $10,000 per calendar month. After the initial 6 month period, the Consulting Agreement renews on a monthly basis subject to the agreement of both parties.
By reason of being a director of Motif Bio, Mr. Gold is a related party and the Consulting Agreement constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. The directors of Motif Bio, with the exception of Mr. Gold who is involved in the transaction as a related party, consider, having consulted with its nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
Graham Lumsden, CEO of Motif Bio, commented on the appointments: “We are delighted to welcome both Pete and Rajesh to the team. Pete’s experience in capital markets, M&A, and financial operations combined with Rajesh’s depth of knowledge in Clinical Operations will ensure strong leadership in these critical functions.
On behalf of the Board, I would like to thank Bob Bertoldi for all his efforts and input to date both operationally and financially through the admission to AIM and since, and I value his continued input particularly with the successful execution of our clinical trials.”
Motif Bio plc
Graham Lumsden, Chief Executive Officer
David Huang, Chief Medical Officer
Zeus Capital Limited (Nominated Advisor and Broker)
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Notes to Editors
Motif is a clinical-stage biopharmaceutical company, specialising in the development of novel antibiotics that are designed to be effective against serious and life-threatening infections caused by multi-drug resistant bacteria. Our lead product candidate, iclaprim, is being developed for the treatment of the most common and serious bacterial infections such as acute bacterial skin and skin structure infections (ABSSSI) and hospital acquired bacterial pneumonia (HABP), including those caused by resistant strains such as MRSA (methicillin-resistant Staphylococcus aureus). Two Phase III ABSSSI clinical trials are on track to be completed in 2017 and if approved, iclaprim could be ready for commercialization in 2018. The Company is in discussions with pharmaceutical companies and universities to build a pipeline of innovative antibiotics targeting Gram-positive and Gram-negative bacteria.