NTx Appoints Former Chairman and CEO of Allstate Corporation Edward Liddy to Board of Directors

·3 min read

Mr. Liddy brings over 30 years of executive leadership, IPO and private equity experience, and board involvement with Abbott Laboratories, AbbVie, and Boeing to help guide NTx’s commercialization efforts

RIO RANCHO, N.M., January 20, 2022--(BUSINESS WIRE)--NTx, a bioinformatics and biomanufacturing company advancing cell free, continuous flow manufacturing solutions for medical products and material sciences, today announced that Edward Liddy, the former chairman and CEO of the Allstate Corporation has joined its Board of Directors. As a member of the board, Mr. Liddy will provide unparalleled strategic guidance to assist NTx in its journey toward commercialization and drive rapid growth.

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Edward Liddy, the former chairman and CEO of the Allstate Corporation has joined the NTx Board of Directors. (Photo: Business Wire)

Currently, Liddy also serves on the board of directors of AbbVie and 6K, and he previously served on the boards of the 3M Company, Abbott Laboratories, Boeing, and Goldman Sachs.

During his career, Mr. Liddy led the 1995 spinoff of Allstate Corporation from Sears, Roebuck & Co, where he eventually became Chairman, President, and Chief Executive Officer. Under his leadership, Allstate's market value more than tripled thanks to streamlining initiatives Liddy led. After his retirement as Chairman at Allstate in 2008, the Secretary of the U.S. Department of the Treasury requested that Mr. Liddy serve as Interim Chairman and Chief Executive Officer of American International Group, Inc. (AIG) during the 2008-2009 financial crisis, where he carried out one of the largest restructuring efforts in U.S. corporate history.

"NTx is redefining and revolutionizing the manufacturing of pharmaceutical products with a disruptive technology that will change the footprint, rapidly scale, and lower the cost of mRNA production, providing quality products with their innovative cell-free system,'' said Edward Liddy. "I look forward to working closely with the NTx team and other distinguished members of the board to increase market traction and help fuel the global supply chain for rapidly deployable vaccines and therapeutics."

Mr. Liddy joins a Board of Directors comprised of renowned pharmaceutical and biotechnology leaders, including Andrew Weber, former U.S. Assistant Secretary of Defense for Nuclear, Chemical and Biological Defense; Charles McMillan, former director of the Los Alamos National Laboratory; Nancy Rurkowski, former executive at Bristol-Myers Squibb; Joseph Sullivan, Chief Operations Officer at NTx; David Seldin, Managing Partner at Anzu Partners; Thomas Nickoloff, Managing Principal at Camino Real Capital Partners; NTx co-founder and CTO, Dr. Michael Humbert; and NTx co-founder, CEO and CSO, Dr. Alex Koglin.

"We are privileged to have Mr. Liddy bring his decades of global business expertise and executive leadership skills to the NTx board and we feel his guidance will play an essential role in helping the company gain commercial traction," said Dr. Alex Koglin. "Together with the other members of our board and the entire NTx team, Mr. Liddy will be incredibly valuable as we work to power advancements in medicine and improve patient access."

For more information about NTx and its proprietary platform, please visit: https://www.ntxbio.com.

About NTx

NTx is a bioinformatics and biomanufacturing company that advances medical products and material sciences with cell-free, innovative biomanufacturing solutions. The company is commercializing its biomanufacturing systems NTxpress®, NTxscribe® and the bioinformatics platform, DruID, for the discovery of natural products. NTx biosynthesis technology, which is built for mRNA and proteins that are made in-vitro, is completely defined as it is not dependent on cell lines. NTx’s biomanufacturing processes can easily be scaled to meet fluctuating supply needs so that companies can increase and streamline production as they respond to changing global demands. For more information, please visit: https://www.ntxbio.com

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