LOS ALTOS, CA / ACCESSWIRE / August 14, 2020 / Retrotope, a privately held, clinical-stage pharmaceutical company, today announced that Dr. Robert J. Molinari has stepped down as the company's chief executive officer. In addition, Dr. Harry J. Saal has stepped down as the company's chairman of the board. They will both continue to serve as non-executive members of the board of directors. An executive committee of the Board will manage day-to-day operations. Dr. Lex van der Ploeg has been appointed interim chairman. The company has started a search for a permanent CEO and Non-Executive Chairman.
"It has been a tremendous privilege to serve as the founding CEO of Retrotope" said Dr. Molinari. Dr. Molinari continued "I am incredibly proud of the technology leadership and tenacity we have shown that allowed us to conceive, fund and develop a powerful new paradigm to treat diseases of degeneration from an idea to a drug platform in trials in multiple diseases in many dozens of patients. The disease-modifying improvements we see in these early stage human trials for treatment of a host of otherwise intractable neurological diseases are immensely satisfying. Now the company needs to massively scale up its size, funding, and pivotal trials in multiple conditions with leadership and management that has deep expertise in drug discovery. What we have created, and what our employees and partners have accomplished together, is a true embodiment of the power of the entrepreneurial spirit. Retrotope's progress in addressing untreatable neurological indications is something very few companies have been able to advance with even ten-fold the investment."
"Retrotope can build on a strong culture of entrepreneurship, scientific excellence and dedication to improving the lives of our patients based on its innovative platform of deuterated poly-unsaturated fatty acids." commented Dr. Saal. "Retrotope's approach will result in an entirely new class of drugs which make neural membranes greatly resistant to oxidative damage."
Lex van der Ploeg., Retrotope's interim chairnman, added: "Retrotope's breathtaking technology, is unrivaled in the pharmaceutical industry and has opened profound opportunities for the treatment of diverse neuro-degenerative and ophthalmologic indications. I am very excited to see Retrotope take next steps, where its current leadership is embracing the recruitment of biotechnology experts which will propel the company to its next growth stage."
Retrotope, a privately held, clinical-stage pharmaceutical company, is creating a new category of drugs to treat degenerative diseases. Composed of proprietary compounds that are chemically stabilized forms of essential nutrients, these compounds are being studied as disease-modifying therapies for many intractable diseases. Retrotope's first lead candidate RT001, is being tested in clinical trials for i) the treatment of Friedreich's ataxia, a fatal orphan disease; ii) a fatal, childhood neurodegenerative disease called Infantile Neuroaxonal Dystrophy, and iii) in Progressive SupraNuclear Palsy (PSP) which is also fatal. RT011 will be the second drug candidate entering development using this novel approach.
For more information about Retrotope, please visit www.retrotope.com.
4300 El Camino Real, Suite 201
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