WATERTOWN, Mass.--(BUSINESS WIRE)--PlateletBio, a pioneering biotechnology company developing next-generation allogeneic cell therapies for treatment of human diseases, has named Steven M. Altschuler, M.D., as Chairman of its Board of Directors.

“As a clinician, healthcare administrator, biotech entrepreneur and venture capital investor, Steve’s leadership and breadth of experience in the clinical development of cell and gene therapies will be invaluable to PlateletBio as we progress our cell therapy platform into the clinic later this year,” said Sam Rasty, Ph.D., President and CEO of PlateletBio. “We will benefit tremendously from Steve’s clinical leadership experience, including serving as CEO of both the Children’s Hospital of Philadelphia and the University of Miami Health System, as we continue to advance PlateletBio into its next phase of growth as a clinical stage company.”

A recognized gene and cell therapy expert, Dr. Altschuler co-founded Spark Therapeutics, taking it from launch to its $4B acquisition by Roche. He is also Chairman of the Board of AsclepiX Therapeutics, a biopharmaceutical company developing novel peptide therapies for retinal disease and cancer, serves on the boards of 89bio, ImVax, Orchard Therapeutics and WW (formerly Weight Watchers International), and is an independent trustee of the Brigham and Women’s Physician Organization. Dr. Altschuler originally joined PlateletBio’s Board of Directors following the 2019 Series A-1 investment by Ziff Capital Partners, where he serves as Managing Director.

“The potential for allogeneic cell-based therapies is significant, and the PlateletBio team has developed a potentially game-changing approach for treatment of a number of autoimmune diseases and hemostatic conditions,” said Dr. Altschuler. “I look forward to working closely with the team and helping them move quickly to bring these novel therapies to patients.”

Mark McDade, Managing Partner at Qiming Venture Partners USA and PlateletBio’s former Chairman, will remain a Director on the Board.

About PlateletBio

Inspired by the function and versatility of platelets, PlateletBio is pioneering the next generation of safer, more effective allogeneic cell therapy products. Its cell therapy platform produces “platelet-like cells” (PLCs) capable of performing vital biological functions and able to be genetically engineered into multiple allogeneic therapies. The company, based in Watertown, Mass., is focused on advancing a diverse pipeline of next-generation cellular therapies for applications in autoimmune diseases, hematology, oncology and inflammation. Visit www.plateletbio.com for more information.