NorthStar Appoints Peter Pfreundschuh to Board of Managers
NorthStar Medical Technologies, LLC, parent company of NorthStar Medical Radioisotopes, LLC, a global innovator in development, production and commercialization of radiopharmaceuticals used to detect and treat cancer and other serious diseases, today announced the appointment of Peter (Pete) Pfreundschuh to its Board of Managers, effective April 1, 2024. Following this appointment, the Board will comprise of 9 directors, 6 of whom are non-executive.
"We are pleased to welcome Pete to the NorthStar Board," said Stephen Merrick, Executive Chairman of NorthStar. "Pete has deep experience in the pharmaceutical and biotechnology industry, with extensive knowledge in corporate finance, business development, and operational roles in fast growing biotechnology companies. This will add valuable perspectives as NorthStar continues to focus on growing its business to meet the needs of patients who need better treatment options and will also provide us with well-informed counsel as we drive our growth strategy."
Mr. Pfreundschuh is currently Chief Financial Officer (CFO) & Head of Investor Relations at Voyager Therapeutics (NASDAQ:VYGR) and has previously served as CFO and other executive capacities at Frequency Therapeutics (NASDAQ:FREQ), UroGen Pharmaceuticals (NASDAQ:URGN), Sucampo Pharmaceuticals (NASDAQ:SCMP), Immunomedics (NASDAQ:IMMU), and Circulite Inc. Prior to working in the biotech industry, Mr. Pfreundschuh also held progressively senior roles across Finance, Commercial Operations, and Business Development within the pharmaceutical industry at Johnson & Johnson and AstraZeneca. He started his career as an auditor at Ernst & Young, LLP. Pete graduated from Rutgers University School of Business with a Bachelor of Science in Accounting degree and later received an MBA from Rider University. Pete is a Certified Public Accountant in the State of New Jersey. His extensive experience in start-up and early-stage commercial pharmaceutical companies will provide a strong complement to the expertise and personal backgrounds of other NorthStar Board Members.
In late 2023, NorthStar announced it would focus its business on delivering high-quality medical radioisotopes to the market and building out its patient dose contract development and manufacturing organization (CDMO). The intent of this focus is both to accelerate growth and to make a more immediate measurable impact on the lives of patients with cancer and other serious illnesses.
"2024 and the next few years will be critical for NorthStar," said Frank Scholz, NorthStar President and Chief Executive Officer. "We're on the cusp of a global paradigm shift in the development and commercialization of effective new radiodiagnostics and radiotherapies, and we believe NorthStar can be a key catalyst of this change. As we enter this next stage of our evolution and growth, the opportunities are enormous and having strong board members with a wealth of diverse, deep industry experience will help us unlock the promise our business holds for our industry, doctors, and their patients. I look forward to Pete joining the NorthStar Board."
About NorthStar Medical Technologies, LLC (NorthStar)
NorthStar Medical Technologies, based in Beloit, Wis., is the parent organization of several wholly-owned subsidiaries, including NorthStar Medical Radioisotopes, LLC. NorthStar Medical Radioisotopes is a commercial-stage radiopharmaceutical company at the forefront of advancing patient care by utilizing novel technologies to produce commercial-scale radioisotopes that, once attached to a molecule, have the ability to detect and treat cancer. NorthStar's expanding industry-leading position in the emerging field of radiopharmaceutical therapy is supported by its unique capabilities in the sophisticated production of radioisotopes, proven management team, and state-of-the-art, environmentally preferable technologies. NorthStar routinely produces copper-67 (Cu-67) and is poised to be the first commercial-scale producer of non-carrier-added (n.c.a.) actinium-225 (Ac-225). The Company's Radiopharmaceutical Contract Development and Manufacturing Organization (CDMO) services unit provides customized service offerings and specialized radiopharmaceutical expertise to help biopharmaceutical companies rapidly advance their development and commercial programs. For more information about NorthStar's comprehensive portfolio and patient-focused services, visit: www.northstarnm.com.
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