ShouTi Strengthens Board With Appointment of Daniel G. Welch as Chairman
Accomplished biotechnology executive brings over 40 years of commercial and leadership experience across multinational pharmaceutical and biotechnology companies to ShouTi
ShouTi Inc., a clinical-stage biopharmaceutical company replacing biologics with world-class small molecule medicines using advanced computational and structure-based technology, today announced that Daniel Welch has been named Chairman of the company's board of directors.
"It is a true privilege to welcome Dan to ShouTi as Chairman of our board," said Raymond Stevens, Ph.D., Chief Executive Officer, ShouTi. "As an industry veteran with an outstanding track record in guiding companies across all stages of development and commercialization, Dan's leadership will be invaluable as we grow the company and ensure our life-changing medicines reach patients who are waiting."
Mr. Welch is a distinguished life sciences executive, with over 40 years in the business of developing and commercializing medicines across both multinational pharmaceutical and biotechnology companies. He was Chairman, President and CEO of InterMune until its $8.3 billion acquisition by Roche in 2014. Before InterMune, he was Chairman and CEO of Triangle Pharmaceuticals, which was acquired by Gilead in 2003. Prior to Triangle, he was President of Biopharmaceuticals at Elan Corporation where he was responsible for its worldwide pharmaceutical operations, R&D and diagnostics businesses. From 1987 to 2000, he served in various senior management roles at Sanofi, including General Manager, Vice President of Worldwide Marketing and Chief Operating Officer of the U.S. business. Mr. Welch has played leadership roles in the development and commercialization of several blockbuster pharmaceutical brands, including Plavix®, Tysabri®, Eloxatin®, Avapro®, emtricitabine and Esbriet®. He is an experienced board director, serving on 13 boards over his career. Mr. Welch presently serves as Chairman of Ultragenyx Pharmaceutical (NASDAQ:RARE), Chairman of Nuvation Bio (NYSE:NUVB), Executive Chairman of Levo Therapeutics, Executive Chairman of InCarda Therapeutics, and Director of Seagen (NASDAQ:SGEN). He also spent time in biotech venture capital as Executive Partner at Sofinnova Investments, a leading Bay Area biotech VC firm. Mr. Welch earned a B.A. from the University of Miami and an M.B.A. from the University of North Carolina.
"I'm excited to join Ray and his proven team at ShouTi as Chairman of the board to help guide the company's evolution as it works to design and develop world-class medicines with tremendous patient impact," said Mr. Welch. "ShouTi's integrated global approach and its powerful, validated suite of cutting-edge drug discovery technologies holds real possibility for positive, widespread impact for patients suffering from chronic illnesses. I look forward to working with their seasoned leadership team, utilizing my operational and commercial experience to further propel the company's growth and success."
About ShouTi
ShouTi develops life-changing medicines for patients using advanced computational and structure-based technology. The company's platform combines the latest advancements in computational chemistry, visualization of molecular interactions, and data integration to design orally available, superior medicines that overcome current limitations of biologic and peptide drugs. ShouTi is advancing its clinical-stage pipeline of differentiated treatments focused on chronic diseases with high unmet need, including cardiovascular, metabolic and pulmonary conditions. The ShouTi team's deep and proven experience with complex biological targets and mechanisms, structure-based drug design, and global drug discovery and development enables the company's vision: to design and develop world-class medicines with high patient impact and broad commercial opportunity. For more information, visit www.shoutipharma.com and follow the company on Twitter @ShouTiPharma and LinkedIn.
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