Madrigal Pharma (MDGL) Announces Alex Howarth Joins as Chief Financial Officer

Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), a clinical-stage biopharmaceutical company pursuing novel therapeutics for cardio-metabolic and fatty liver diseases with high unmet medical need, announced today that Alex Howarth has joined Madrigal as Chief Financial Officer.

“I am pleased to welcome Alex to Madrigal as our Chief Financial Officer as we advance our two Phase 3 studies for resmetirom and enter a critical phase of development and growth within the Company. In the past year, we have advanced commercial planning for the U.S. and key Ex-U.S. markets,” said Paul Friedman, M.D., Chief Executive Officer of Madrigal. “As we have indicated in the past, we will seek partnerships for Ex-U.S. commercialization, and Alex will greatly assist in these efforts in addition to serving as our CFO. He is an accomplished executive who brings a wealth of experience from commercial-stage biotech companies as well as multinational pharmaceutical organizations, such as GlaxoSmithKline,” Friedman said. “His experience includes developing financial and corporate strategy, long-range planning, business development and expertise in implementing financial and operational systems to support company growth. He adds depth and experience to our team which will be key as Madrigal prepares to transition from a development-stage company to a commercial-stage company.”

Mr. Howarth, age 52, brings more than 25 years of biopharmaceutical experience and is recognized for his financial, operational, and transactional achievements. Most recently, Mr. Howarth was Chief Operating Officer at Akcea Therapeutics, a publicly traded biopharmaceutical company with commercial operations in North America and Europe, where he served as a core member of the executive leadership team leading up to its acquisition by Ionis Pharmaceuticals. Prior to Akcea, Alex was President and Chief Financial Officer at Lycera Corporation; Chief Financial Officer and Chief Business Officer at moksha8, a TPG portfolio company focused on commercializing products in emerging markets; and Chief Business Officer at Vitae Pharmaceuticals. Earlier in his career, Alex spent ten years at GlaxoSmithKline in a variety of business development and finance roles, including leading GSK Venture Partnerships and serving as Senior Director, Worldwide Business Development. Prior to joining GSK, Mr. Howarth worked at KPMG in London, UK where he qualified as a chartered accountant. Mr. Howarth has an honors degree in biochemistry from the University of Bath, England.

“With resmetirom, Madrigal is positioned to achieve first mover status in the substantial and unmet NASH market and improve the quality of life and health for millions of NASH patients in America and worldwide” said Mr. Howarth. “I am tremendously excited to be joining Madrigal and look forward to working with the leadership team to contribute to the continued success and growth at Madrigal.”

“As we begin the transition of our CFO role from Marc Schneebaum to Alex, I would like to thank Marc for the tremendous impact he has had on Madrigal’s success over the last five years,” Dr. Friedman said. “Marc brought unique skills and made significant contributions at Madrigal. Most notably, he leveraged Madrigal’s $60 million in liquidity sources as a new public company and thereafter serially financed over $600 million in equity capital in support of the initiation and progression of our critical Phase 2 and Phase 3 trials for resmetirom. I have greatly enjoyed having Marc as my professional colleague and partner, and I wish him the best in his future endeavors.”

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