Prota Therapeutics Strengthens Board with Appointment of Global Biotech Expert Patrick Machado

Prota Therapeutics appoints Patrick Machado as Chair to its Board of Directors.
Patrick has a successful 30-year track record in biotech across North America and Europe
Patrick is motivated by Pro...

• Prota Therapeutics appoints Patrick Machado as Chair to its Board of Directors.
• Patrick has a successful 30-year track record in biotech across North America and Europe
• Patrick is motivated by Prota's mission to develop a peanut allergy treatment due to its potential to improve patient lives, especially for children and their families.

MELBOURNE, Australia, July 24, 2024 (GLOBE NEWSWIRE) - Prota Therapeutics, an Australian biotechnology company focused on the development of novel oral immunotherapy treatments against peanut allergy, today announced the appointment of Patrick Machado as a Chair to its Board of Directors, effective immediately.

Patrick is a highly respected figure in the biotech industry with a proven track record of success in identifying and developing technologies that can improve patient care. He brings over 30 years of experience in the biotech sector and a deep understanding of the scientific and regulatory processes involved in bringing new treatments to market.

“We are thrilled to welcome Patrick to the Prota Board,” said Professor Mimi Tang, CEO of Prota Therapeutics. “His extensive experience and dedication to patient well-being perfectly align with Prota's mission. We are confident that his insights and guidance will be instrumental in pushing Prota forward as we strive to bring this life-changing peanut allergy treatment to patients.”

Patrick's arrival will strengthen Prota Therapeutics' Board and support the company as they progress to the Phase 3 clinical investigation of its PRT120 oral therapy for peanut allergy, after having secured US$21 million in funding earlier in the year to finance its drug development program leading up to a Phase 3 trial.

A Passion for Parental Safety and Improving Patient Lives

Patrick's decision to join the Prota board was driven by his strong belief in the Company's mission: to develop a safe and effective treatment for peanut allergies, a condition that affects millions of children and their families worldwide.

“As a parent, I can only imagine the immense anxiety faced by families living with severe peanut allergies,” said Patrick.

“When assessing companies, I prioritise two factors: the potential to meaningfully elevate patient care and the qualifications and passion of the scientific founders. Prota excels on both fronts. Prota's mission to significantly reduce, or even eliminate, that fear for families is truly inspiring. The groundbreaking data generated by the Prota team fuels my confidence in achieving this goal. I'm honored to join the Prota family and contribute to this critical mission.”

About Patrick Machado

Patrick has had an impressive 30-year career in the biotechnology industry.  He co-founded the U.S. biotechnology company Medivation, Inc., which successfully developed and launched Xtandi, one of the top-selling prostate cancer treatments globally. Medivation was sold to U.S. pharmaceutical company Pfizer, Inc. in 2016. Since 2014, Mr. Machado has served on the boards of approximately 20 biotechnology companies across the U.S., Canada, Europe and Australia, including Endocyte (sold to Novartis in 2018), Principia Biopharma (sold to Sanofi in 2020) and Turning Point Therapeutics (sold to Bristol Myers Squibb in 2022).

About Prota Therapeutics

Prota Therapeutics is an Australian, proprietary limited, privately-held biotech company established in 2016 to develop and commercialize novel oral immunotherapy treatments. Prota holds an exclusive license to proprietary food immunotherapy technology, developed at the Murdoch Children's Research Institute. The company is, in part, a OneVenture's Healthcare Fund III investment. This fund was established with investment in part from the Australian Commonwealth Government through the BioMedical Translation Fund initiative. Prota Therapeutics has its headquarters in Melbourne, Australia. More information: https://protatherapeutics.com

Media Contacts:
Prota Therapeutics – WE Communications
Ana Luiza Harrop
anah@we-worldwide.com
+61 0452510255

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/badded48-2c34-499d-8619-658f1869de74