TransCode Therapeutics Reports Further Restructuring to Reduce Expenses and Increased Focus on Planned Phase 1 Clinical Trial, Retirement of CEO - Seite 2

In connection with the restructuring, TransCode’s Board also elevated Dr. Zdravka Medarova, PhD, currently Chief Technology Officer, to the role of Chief Scientific Officer. Dr. Medarova is a scientific co-founder of the company and has been the leading scientific force at the company advancing TransCode’s groundbreaking science. Dr. Medarova is expected to become increasingly active in partnership and collaboration discussions as well as overseeing TransCode’s science and intellectual property activities.

Dr. Philippe Calais, PharmD, PhD, currently Chairman of the Board of Directors, will assume the position of Executive Chairman. Dr. Calais is a senior executive with extensive global management experience. He has 23 years of experience as a CEO and board member of public and private biotechnology companies in North America and Europe. His experience includes initial public offerings and other equity financings, investor relations, mergers, acquisitions, asset sales and complex international company restructurings. He also has deep experience managing across all functions of the drug discovery and development value chain, including 14 years in big pharma, with increasing responsibilities up to corporate executive heading up the leading franchise at Hoffmann-La Roche in the late 1990s.

About TransCode Therapeutics

TransCode is a clinical-stage oncology company focused on treating metastatic disease. The company is committed to defeating cancer through the intelligent design and effective delivery of RNA therapeutics based on its proprietary TTX nanoparticle platform. The company’s lead therapeutic candidate, TTX-MC138, is focused on treating metastatic tumors which overexpress microRNA-10b, a unique, well-documented biomarker of metastasis. In addition, TransCode is developing a portfolio of first-in-class RNA therapeutic candidates designed to overcome the challenges of RNA delivery and thus unlock therapeutic access to a variety of novel genetic targets that could be relevant to treating a variety of cancers.      

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements concerning expected clinical results of TransCode’s therapeutic candidates, statements concerning the results of RNA research, statements concerning the potential for treating cancer with RNA therapeutics, statements concerning the timing and outcome of expected regulatory filings and clinical trials, including the first-in-human study of TTX-MC138 currently underway and whether this study will demonstrate proof-of-mechanism, and statements concerning TransCode’s portfolio of drug candidates and TTX technology platform generally. Any forward-looking statements in this press release are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk associated with drug discovery and development; the risk that the results of our planned clinical trials will not be consistent with our pre-clinical studies or expectations; risks associated with the timing and outcome of TransCode’s planned regulatory submissions; risks associated with TransCode’s planned clinical trials for its product candidates; risks associated with obtaining, maintaining and protecting intellectual property; risks associated with TransCode’s ability to enforce its patents against infringers and defend its patent portfolio against challenges from third parties; risks of competition from other companies developing products for similar uses; risks associated with TransCode’s financial condition and its need to obtain additional funding to support its business activities, including TransCode’s ability to continue as a going concern; risks associated with TransCode’s dependence on third parties; and risks associated with the COVID-19 coronavirus and other global events. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause TransCode’s actual results to differ from those contained in or implied by the forward-looking statements, see the section entitled “Risk Factors” in TransCode’s Annual Report on Form 10-K for the year ended December 31, 2022, as well as discussions of potential risks, uncertainties and other important factors in subsequent TransCode filings with the Securities and Exchange Commission. All information in this press release is as of the date of this release; TransCode undertakes no duty to update this information unless required by law.