AI Proteins Strengthens Leadership with Appointment of Noah D. Beerman as Chief Executive Officer and Industry Leader Mark J. Alles as Chairman of the Board of Directors

Mr. Beerman will lead corporate and operational strategy to pioneer miniprotein therapeutics

Mr. Alles brings over 30 years of pharmaceutical industry leadership to provide strategic counsel as Chairman of the Board

BOSTON--(BUSINESS WIRE)--AI Proteins, Inc., a growing biotechnology company that utilizes computational de novo protein design to create novel therapeutic miniproteins, today announced the appointment of Noah D. Beerman, formerly Chief Operating Officer of AI Proteins, to Chief Executive Officer and biopharma industry veteran Mark J. Alles to Chairman of the Board of Directors. As part of this transition, Drew Dennison has stepped down as Chief Executive Officer, and will continue as a board director and chair the Nominating and Governance Committee. These appointments mark an inflection point for AI Proteins as it continues to design and develop a new class of therapeutics through the company’s proprietary miniprotein platform.

"AI Proteins has made incredible progress to date, and I am proud to be its new CEO as we advance a unique and promising therapeutic modality from discovery to development to patients,” said Mr. Beerman. “We have a tremendous opportunity to design miniproteins to carry out specific therapeutic functions, and to make a meaningful difference in the lives of people with serious diseases. We are laying the foundation for a powerful and scalable technology to introduce some of the most novel and effective therapeutics in our industry. Our future is full of promise and potential.”

“We are striving towards a new era of safer, more effective, more accessible protein-based medicines that are designed, not evolved,” said Dr. Chris Bahl, founder, President, and Chief Scientific Officer of AI Proteins. “This is an audacious goal, and I’m grateful to have Noah and Mark join our leadership team in these key roles. We are well positioned to pioneer a novel class of protein therapeutics, expand our pipeline and advance our molecules into the clinic, and explore strategic collaborations - all with a vision to transform patients' lives with better outcomes."

Noah D. Beerman is a senior executive with over 30 years of experience in the biopharmaceutical industry. He has significant experience in management and strategic planning; building and leading high functioning teams; developing, advancing, and financing biopharmaceutical product pipelines and companies; and completing a broad range of transactions including financings, pharmaceutical partnerships, and mergers and acquisitions. Beerman has significant C-level experience including CEO at RXI Pharmaceuticals, COO at Fortress Biotech (previously Coronado Biosciences) and President, US, and EVP of Business Development at Poxel SA. In his role as CEO, Mr. Beerman will be instrumental in driving AI Proteins' mission forward, focusing on creating innovative protein-based therapies and navigating a dynamic healthcare landscape.

Mark Alles is an accomplished executive in the biopharmaceutical industry who built and led highly successful global oncology-focused organizations and cancer therapeutics over his more than three-decade career. He is the former Chairman and Chief Executive Officer of Celgene Corporation, a global biopharmaceutical company, with an outstanding record of driving growth and medical innovation. During his 15-year tenure at Celgene, Mr. Alles executed several multi-billion-dollar company and asset acquisitions, developed a broad portfolio of globally marketed medicines and high-potential cancer therapeutics, and led the expansion of Celgene from a US-based organization of 500 employees to a global company with more than 8,800 employees serving patients around the world. Mr. Alles’ leadership at Celgene ultimately led to the company’s acquisition by Bristol Myers Squibb for $74 billion in late 2019. Prior to joining Celgene in 2004, he served as Vice President of the U.S. Oncology business unit at Aventis Pharmaceuticals, where he also held a series of executive management roles. He began his industry career at Bayer and Centocor prior to its acquisition by Johnson & Johnson. Mr. Alles is a recognized industry and community leader. He has served on the Boards of several biopharmaceutical companies and industry groups, including at Turning Point Therapeutics (acquired by Bristol Myers Squibb for $4.1B in 2022) where he served as Chair, the Pharmaceutical Research and Manufacturers of America (PhRMA), the European Federation of Pharmaceutical Industries and Associations (EFPIA), the Biotechnology Innovation Organization (BIO), and he is a former member of the Trustees for the Healthcare Institute of New Jersey (HINJ). Currently, he is a member of the Board of Directors of multiple public and private biotechnology companies, including BioMarin Pharmaceutical, Syros Pharmaceuticals, PIKSci Inc, TORL BioTherapeutics, and Wugen Inc, and serves on the Board of Trustees for Misericordia University.

“I am honored to serve as Chairman of AI Proteins’ Board of Directors,” said Mr. Alles. “The company’s innovative approach to de novo protein design has the potential to transform how medicines are discovered and developed, and to significantly improve patient outcomes. I’d like to recognize Drew Dennison’s contributions in leading AI Proteins over the past 18 months and thank him for his continued service on our Board. Together with Noah, Drew and the entire Board and management team, we aim to generate significant value for our investors and the patients we seek to serve.”

"I am thrilled to welcome Noah as CEO and Mark as Chairman of the Board," said Mr. Dennison. "Since establishing AI proteins, our mission has been to bring the first miniprotein therapeutics to the market to address unmet patient needs. We have made excellent progress thus far, and Noah and Mark's extensive industry experience and seasoned leadership will be crucial to our continued success."

About AI Proteins

Boston-based AI Proteins is a biotech company on a mission to re-imagine protein therapeutics with a novel approach for designing entirely new proteins. Using AI-based design and a high-throughput drug discovery platform, AI Proteins creates de novo proteins optimized for specific therapeutic applications. The AI Proteins platform enables the development of inexpensive, durable, highly specific proteins that have the potential for oral delivery. Additionally, the AI Proteins platform can dramatically accelerate the development of lead therapeutic candidates ready for IND enabling studies. For more information, please visit aiproteins.com.