Industry Leader Tim Walbert Joins Mirum Pharmaceuticals’ Board of Directors

Apr 6, 2023

Mirum Pharmaceuticals, Inc. (Nasdaq: MIRM) today announced that Tim Walbert has been appointed to the company’s Board of Directors. In addition to Mr. Walbert’s appointment, the company shared that Niall O’Donnell, Ph.D., a Mirum director since November 2018, has announced his plan to step down from the Board of Directors concurrent with the upcoming 2023 Annual Meeting of Stockholders expected to be held on June 12, 2023.

Tim Walbert joins Mirum’s board following a 15-year tenure as president, chief executive officer, and chairman of the board of Horizon Therapeutics, which he built from inception to a leading rare disease company. Horizon recently announced its intent to be acquired by Amgen. Before joining Horizon, he served as president, chief executive officer and a director of IDM Pharma Inc., a public biotechnology company which was acquired by Takeda America Holdings Inc. in June 2009. Before IDM Pharma, Mr. Walbert served as executive vice president, commercial operations at NeoPharm Inc., a public biotechnology company. From 2001 to 2005, he served as divisional vice president and general manager, immunology, at Abbott, now AbbVie, leading the global development and launch of the multi-indication biologic HUMIRA, and served as divisional vice president, global cardiovascular strategy. From 1998 to 2001, Mr. Walbert served as director, CELEBREX North America, and arthritis team leader, Asia Pacific, Latin America and Canada, at G.D. Searle & Company. From 1991 to 1998, he also held sales and marketing roles with increasing responsibility at G.D. Searle, Merck & Co. Inc. and Wyeth.

Mr. Walbert currently serves on the board of Century Therapeutics, a public biotech company. He is also a member of the National Organization for Rare Disorders (NORD) Advisory Board, the Wall Street Journal CEO Council and serves on the Board of Trustees of Muhlenberg College. He previously served on the board of directors for Aurinia Pharmaceuticals, a public pharmaceutical company, from 2020 to 2022, Exicure, a public biotechnology company, from 2019 to 2022, Assertio, a public biopharma company, from 2014 to 2020, Raptor Pharmaceutical Corp., a public biotechnology company, from 2010 to 2014; XOMA Corporation, a public biotechnology company, from 2011 to 2017 and Sucampo Pharmaceuticals Inc., a public biopharmaceutical company, from 2015 to 2018. He is also a member of Economic Club of Chicago, the Commercial Club of Chicago and the Civic Committee of the Commercial Club of Chicago. Mr. Walbert was a previous board member of the Biotechnology Innovation Organization (BIO), the Pharmaceutical Research and Manufacturing Association (PhRMA), the Illinois Biotechnology Innovation Organization (iBIO) and World Business Chicago. Mr. Walbert received a Bachelor of Arts in business from Muhlenberg College.

“I have seen firsthand the insurmountable experience, passion and insight that Tim brings to leadership in the rare disease and broader pharmaceutical industry, building companies that deliver transformational treatments for patient communities while also generating value for shareholders,” said Mike Grey, chairman of the board of directors at Mirum. “The Mirum board is comprised of industry experts with broad experience and a common dedication to advancing care for patients and we expect Tim will make significant contributions to further strengthen the company. We are thrilled to have him on board as Mirum continues to grow its global position as a leader in debilitating rare and orphan diseases. I would also like to take the opportunity to thank Niall for his vast contributions and counsel in helping grow Mirum into the successful global organization it is today.”

“This is a great time to join Mirum’s board as I believe the company is well-positioned for continued growth and success, with a talented and energetic team, exciting pipeline and demonstrated achievements both in the clinic and commercially,” said Tim Walbert. “I look forward to contributing my experience in rare disease, in launching in multiple markets, helping Mirum propel to the next level, and ultimately benefiting pediatric and adult patients in need of transformative therapies to address their diseases.”

About Mirum Pharmaceuticals, Inc.

Mirum Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to transforming the treatment of rare liver diseases. Mirum’s approved medication is LIVMARLI® (maralixibat) oral solution which is approved in the U.S. for the treatment of cholestatic pruritus in patients with Alagille syndrome three months of age and older, and in Europe for the same indication in patients two months of age and older. Mirum has submitted LIVMARLI for approval in the U.S. (in cholestatic pruritus in PFIC for patients three months and older) and in Europe (in PFIC for patients two months and older).

Mirum’s late-stage pipeline includes two investigational treatments for debilitating liver diseases affecting children and adults. LIVMARLI, an oral ileal bile acid transporter (IBAT) inhibitor, is currently being evaluated in clinical trials for pediatric liver diseases and includes the EMBARK Phase 2b clinical trial for patients with biliary atresia. In addition, Mirum has an expanded access program open across multiple countries for eligible patients with ALGS and PFIC.

Mirum’s second investigational treatment, volixibat, an oral IBAT inhibitor, is being evaluated in two potentially registrational studies including the VISTAS Phase 2b clinical trial for adults with primary sclerosing cholangitis and the VANTAGE Phase 2b clinical trial for adults with primary biliary cholangitis.

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Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the timing of Dr. O’Donnell’s retirement from Mirum’s Board of Directors, the anticipated benefits that the appointment of Mr. Walbert will bring to Mirum, including contributions to the growth of Mirum worldwide, and the anticipated benefits Mirum can provide to its targeted patient population. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “plan,” “expect,” “continued,” “will,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Mirum’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Mirum’s business in general and the other risks described in Mirum’s filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Mirum undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Media Contact:
Erin Murphy

Investor Contacts:
Andrew McKibben

Sam Martin
Argot Partners

Source: Mirum Pharmaceuticals, Inc.