RARE Daily

PTC and Innozyme CEOs Each Announce Their Retirement

March 24, 2023

Rare Daily Staff

PTC Therapeutics Founding CEO Stuart Peltz said that he is stepping down after 25 years in the post effective immediately.

Under his leadership, PTC has grown from a research organization with expertise in the control of RNA processes to a publicly traded, integrated, global biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for the treatment of neurological and neuromuscular disorders, metabolic disorders, and cancer.

Matthew Klein, current chief operating officer, will take over as CEO. Peltz will serve as a senior consultant to the company and join its scientific advisory board following his retirement.

Prior to joining PTC in 2019, Dr. Klein was CEO and Chief Medical Officer at BioElectron Technology Corporation, a biotechnology company focused on the development of redox-active small molecules for mitochondrial disease and related disorders of oxidative stress. PTC acquired BioElectron’s assets in 2019.

Separately, Inozyme Pharma founding CEO Axel Bolte said he will retire from his current role and that Douglas Treco, chairman of the company’s board of directors, will succeed him effective April 1.

Treco was co-founder, president, and CEO of Ra Pharmaceuticals, which UCB acquired in 2020 for $2.5 billion. There, he oversaw the discovery and development of zilucoplan in myasthenia gravis, which is currently under review for marketing approval in the United States and European Union. Previously, he co-founded Transkaryotic Therapies, which Shire acquired in 2005.

Photo: Stuart Peltz, founding CEO of PTC Therapeutics

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