TARRYTOWN, NY - (NewMediaWire) - October 24, 2022 - PaxMedica, Inc. (Nasdaq: PXMD), a clinical-stage biopharmaceutical company focused on the development of anti-purinergic drug therapies (“APT”) for the treatment of disorders with intractable neurologic symptoms such as autism spectrum disorder (“ASD”), today announced the appointment of Dr. Stefan Schwabe MD, PhD as Chief Medical Officer.  In this role, Dr. Schwabe will be responsible for overseeing and directing product development activities including pre-clinical, clinical, regulatory and pharmaceutical sciences for PaxMedica’s pipeline products. The initial program underway is targeting antipurinergic drug therapies.  

Howard Weisman, CEO of PaxMedica, commented, “We welcome Stefan to PaxMedica, and look forward to his contributions as Chief Medical Officer.  PaxMedica is entering an important phase as we work to advance our clinical programs and Stefan’s experience and expertise in neurology and drug development will help us build the critical evidence needed to ultimately seek regulatory approval for PAX-101.”

Dr. Schwabe added, “I’m excited to be joining a company committed to developing solutions to disorders with high unmet medical needs through an innovative approach using clinical data to repurpose a well-known compound that has been used for many years to treat a rare fatal infection. The initial clinical data for its possible use in ASD is exciting, supported by a working hypothesis of a putative mechanism of action based on purine-mediated processes.  If successful, this could bring hope to the many individuals and their families that struggle with this spectrum of disorders without any definitive medical treatments. I look forward to working with the enthusiastic and experienced team at PaxMedica.” 

Dr. Schwabe has over 30 years of experience in the pharmaceutical industry. Dr. Schwabe worked in the CNS area at Ciba-Geigy, Novo Nordisk, J&J, Novartis and Sanofi in various capacities in clinical development, medical affairs and project management. Most recently, Dr. Schwabe served as Executive Vice President of Research and Development and Chief Medical Officer of Supernus Pharmaceuticals since 2012. Previously, he was the Chief Operating Officer at DemeRx, a privately held biotech company working in the area of addiction. Dr. Schwabe received a PhD in clinical toxicology from the University of Munich, an MD degree from Ludwig-Maximilians-Universität München, Germany, and a Bachelor of Science in Chemistry from Florida International University and he completed a residency in Neurology from the Medical College of Wisconsin.

About PaxMedica

PaxMedica is a clinical stage biopharmaceutical company focusing on the development of anti-purinergic drug therapies (“APT”) for the treatment of disorders with intractable neurologic symptoms, ranging from neurodevelopmental disorders, including Autism Spectrum Disorder (“ASD”), to Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (“ME/CFS”), a debilitating physical and cognitive disorder believed to be viral in origin and now with rising incidence globally due to the long term effects of SARS-CoV-2 (“COVID-19”). One of PaxMedica’s primary points of focus is the development and testing of its lead compound, PAX-101, an intravenous formulation of suramin, in the treatment of ASD and the advancement of the clinical understanding of using that agent against other disorders such as ME/CFS and Long COVID-19 Syndrome, a clinical diagnosis in individuals who have been previously infected with COVID-19. For more information, please visit: www.paxmedica.com. 

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement, most recent quarterly report and other filings with the U.S. Securities and Exchange Commission. 

Contacts:

ir@paxmedica.com

Stephanie Prince
PCG Advisory
sprince@pcgadvisory.com
(646) 863-6341

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