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MISSION Appoints Paul Wallace as Chief Business Officer

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MISSION Therapeutics has announced the appointment of Paul Wallace PhD as Chief Business Officer.

Dr Wallace joins MISSION to formulate future business strategy at a time when the Company’s pipeline has matured to the point where strategic options such as development partnerships are ready to be explored.

Having worked in business development roles within drug discovery companies for nearly 20 years, Dr Wallace was most recently Executive Vice President and Head of Business Development at Medivir AB, where he was also a member of the Executive Management Team responsible for strategic and operational leadership, R&D portfolio management and investment planning.

During this time he was central to the execution of more than 25 partnership deals, 8 products were taken into clinical development, 2 drugs were launched and Medivir transitioned into a profitable pharmaceutical company. Prior to his roles in business development Dr Wallace had a career in pharmaceutical research and undertook his PhD and post-doctoral studies at the University of Cambridge.

Anker Lundemose, MISSION Chief Executive Officer, commented: “With MISSION currently embarking on the preclinical development of its lead molecules, Paul’s extensive business development experience will be invaluable in helping us find the right strategic partnerships to fully realize the potential of these assets. Our core focus is cancer, but our platform discovery approach has yielded highly promising molecules for other indications, such as Parkinson’s disease. We see partnering as an attractive option for taking these non-core projects forward.”

Paul Wallace responded: “I am delighted to be joining the MISSION team at a time when the commercialization of certain of its assets is an increasingly promising prospect. The Company’s progress in unlocking successive DUB targets to potent and selective small molecule inhibitors positions MISSION for entering partnership transactions outside its proprietary oncology programs. The diversity of assets created is testimony to the rigour of MISSION’s screening platform in this critically important, but hitherto difficult, area of drug discovery”.