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AMT Announces Management Changes in Light of Refocused Strategy

December 2, 2009

AMSTERDAM, December 2 /PRNewswire-FirstCall/ — Amsterdam Molecular
Therapeutics (Euronext: AMT), a leader in the field of human gene therapy,
announced today a number of management changes. Piers Morgan (age 43) has
been appointed Chief Financial Officer, effective December 1, 2009. Hans
Preusting, PhD (age 47), Director Process Development & Manufacturing, will
take up the responsibility for Operations and Project Management, also
effective December 1. These changes reflect the refocused strategy of the
company announced in the third quarter update on 18 November 2009.

In addition to the anticipated filing for regulatory approval of its lead
product Glybera(R), a gene therapy product to control LipoProtein Lipase
Deficiency (LPLD), AMT is focusing on accelerating the development of 4 of
its pipeline products, using its stable and scalable AAV (adeno-associated
viral vector) production platform. These projects are Hemophilia B, Duchenne
Muscular Dystrophy, Acute Intermittent Porphyria and Parkinson’s Disease.
Furthermore AMT is implementing a business model combining proprietary and
partnered development of these products in order to retain value and conserve
cash.

Piers Morgan is a University of Cambridge graduate (MA in Law and
Management Studies), who received his ACA Qualification while at
PriceWaterhouseCoopers, and who worked in M&A advisory with Close Brothers
Corporate Finance and Ernst & Young before starting his career in
biotechnology. He was Finance Director for Arrow Therapeutics where he
successfully raised equity and debt capital, became CFO of BioAlliance Pharma
SA in Paris, France, where he led the company’s IPO on Euronext, and recently
was CFO and CBO at Phytopharm plc in the UK. He will succeed Andre Verwei,
who was as AMT’s CFO as from 2005.

Before joining AMT in 2006, Hans Preusting had more than 14 years of
experience in the production process of biologicals at Gist-Brocades, DSM
Biologics and Solvay Pharmaceuticals. He will take up the operational
responsibilities of Dr Anthony Gringeri, who resigned from the position of
Chief Operating Officer to return to his home country, the United States.

Jorn Aldag, Chief Executive Officer of AMT, comments: “I am very pleased
that Piers Morgan is joining our management team. Piers has a successful
history as CFO in private and public biotechnology firms. He worked for 10
years in M&A advisory and started his career in one of the big accounting
firms. Hans Preusting has been instrumental in establishing AMT’s leading
position in gene therapy, in particular its unique manufacturing capabilities
and in progressing AMT’s lead product Glybera to filing. With these
management changes we now have the team in place to take the company to a
successful future. I wish to thank Anthony Gringeri and Andre Verwei for
their numerous valuable contributions to the growth of AMT over the previous
years.”

About Amsterdam Molecular Therapeutics

AMT, founded in 1998 and based in Amsterdam, is a leader in the
development of human gene based therapies. Using adeno-associated viral (AAV)
vectors as the delivery vehicle of choice for therapeutic genes, the company
has been able to design and validate what is probably the first stable and
scalable AAV production platform. This safe and efficacious proprietary
platform offers a unique manufacturing capability which can be applied to a
large number of rare (orphan) diseases that are caused by one faulty gene.
Currently, AMT has a product pipeline with several AAV-based gene therapy
products in LPL Deficiency, Hemophilia B, Duchenne Muscular Dystrophy, Acute
Intermittent Porphyria and Parkinson’s Disease at different stages of
research or development.

Certain statements in this press release are “forward-looking statements”
including those that refer to management’s plans and expectations for future
operations, prospects and financial condition. Words such as “strategy,”
“expects,” “plans,” “anticipates,” “believes,” “will,” “continues,”
“estimates,” “intends,” “projects,” “goals,” “targets” and other words of
similar meaning are intended to identify such forward-looking statements.
Such statements are based on the current expectations of the management of
Amsterdam Molecular Therapeutics only. Undue reliance should not be placed on
these statements because, by their nature, they are subject to known and
unknown risks and can be affected by factors that are beyond the control of
AMT. Actual results could differ materially from current expectations due to
a number of factors and uncertainties affecting AMT’s business, including,
but not limited to, the timely commencement and success of AMT’s clinical
trials and research endeavors, delays in receiving U.S. Food and Drug
Administration or other regulatory approvals (i.e. EMEA, Health Canada),
market acceptance of AMT’s products, effectiveness of AMT’s marketing and
sales efforts, development of competing therapies and/or technologies, the
terms of any future strategic alliances, the need for additional capital, the
inability to obtain, or meet, conditions imposed for required governmental
and regulatory approvals and consents. AMT expressly disclaims any intent or
obligation to update these forward-looking statements except as required by
law. For a more detailed description of the risk factors and uncertainties
affecting AMT, refer to the prospectus of AMT’s initial public offering on
June 20, 2007, and AMT’s public announcements made from time to time.

SOURCE Amsterdam Molecular Therapeutics B.V


Source: newswire



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