DALLAS, TX and NEW YORK, NY--(Marketwired - May 12, 2015) - PlasmaTech Biopharmaceuticals, Inc. ("PlasmaTech" or the "Company") (NASDAQ: PTBI), a biopharmaceutical company focused on advancing cell therapy and gene therapy for rare diseases, announced today that Todd Wider, MD has been elected to the Company's Board of Directors. Dr. Wider has a strong medical background and significant experience in small and mid-cap biotechnology companies.
"We are extremely pleased to be able to add Todd to our board of directors," said Steven H. Rouhandeh, the Company's Executive Chairman. "Todd brings to the board a unique blend of skills and experience that will be of great value to the Company as we continue to build out our product pipeline in cell and gene therapies focused on rare diseases."
Todd Wider graduated with high honors from Princeton University, and earned his MD from Columbia College of Physicians and Surgeons. In addition to his surgical experience, Dr. Wider has extensive experience in the biotechnology investment community and has been a consultant to leading healthcare institutional investors for years. His experience includes public and private financings, corporate development and licensing transactions in the biotechnology and medical device industries.
About PlasmaTech: PlasmaTech is a biopharmaceutical company focused on advancing cell therapy and gene therapy for rare diseases. With its recently announced acquisition, PlasmaTech is pursuing a gene therapy for Sanfilippo Syndrome (MPS IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians. Clinical trials for Sanfilippo types A and B are anticipated to begin in mid-2015. In addition, the company is pursuing two additional proprietary platforms, Salt Diafiltration (SDF™) Process and Polymer Hydrogel Technology (PHT™), PlasmaTech is active in the development and commercialization of human plasma-derived therapeutics, including its proprietary alpha-1 protease inhibitor, SDF Alpha™. The company has developed a robust product pipeline that includes two commercial stage products, MuGard® and ProctiGard™, with additional follow-on products in development. For more information, visit www.plasmatechbio.com and www.abeonatherapeutics.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include, without limitation, those relating to: the Company's proposed acquisition of Abeona which is subject to customary closing conditions, anticipated acceleration in the development and internationalization of clinical programs, information regarding the future performance of the combined company, the outlook on medical needs, future pipeline expectations, management plans for the Company, the anticipated closing of the transaction, and general business outlook. These statements are subject to numerous risks and uncertainties, including but not limited the satisfaction of closing conditions for the transaction, the parties' ability to successfully integrate and operate the new company, and achieve expected synergies and other benefits; the impact of competition; the ability to develop products and technologies; the ability to achieve or obtain necessary regulatory approvals; the impact of changes in the financial markets and global economic conditions; and other risks as may be detailed from time to time in the Company's Annual Reports on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.