Pleco Therapeutics BV, a biopharmaceutical company based in the Netherlands, has expanded, with the incorporation of a U.S. subsidiary, Pleco Therapeutics USA.
Pleco Therapeutics, which develops novel treatments designed to detoxify the cancer promoting cellular micro-environment, also named Michael Stalhamer as the US subsidiary’s president and first employee. Stalhamer also serves on the global leadership team as vice president product development and regulatory affairs.
Incorporated in Delaware, Pleco Therapeutics USA, Inc., will operate from New Jersey. The formation of a U.S. subsidiary reflects Pleco’s corporate development as it advances its Plecoid product, PTX-061 and readies for commercialization, with the aim of improving the effectiveness of chemotherapy in patients with acute myeloid leukaemia (AML).
Stalhamer joins from STI Pharma where he was VP regulatory affairs & product development for the past 13 years.
Ivo Timmermans, CEO of Pleco Therapeutics BV, said: “We are delighted to welcome Michael to head up our new US operations. He will be a valuable addition to our leadership team as he has exactly the experience we need to manage the development, registration and commercialization of our first Plecoid product.
“The USA is a critical market and getting our products to patients will deliver on our goal of improving the effectiveness of existing chemotherapy and changing the outcome for patients with relapsed cancers.”
Novel approach to cancer treatment
Plecoid agents are patented, innovative treatments that include chelating agents with specific characteristics, that change the balance of toxic metals in the cell as a novel approach to treating cancer.
Stalhamer said: “This is an exciting time to be joining the Pleco team, as it is at a pivotal point in its product development. Whilst there are always hurdles ahead, the potential of our Plecoid products looks very promising in various cancer models and other therapeutic areas.”
In the coming months, Pleco anticipates securing additional finance and further expanding its team.