MBX Biosciences Appoints Karen Basbaum as Chief Business Officer

CARMEL, Ind., March 10, 2026 (GLOBE NEWSWIRE) -- MBX Biosciences, Inc. (NASDAQ:MBX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, today announced the appointment of Karen Basbaum, MBA, as Chief Business Officer (CBO). Ms. Basbaum brings more than two decades of leadership in corporate strategy, business development, and strategic transactions across the biotechnology and pharmaceutical industries.

"Karen is a highly accomplished and strategic leader with a proven track record of sourcing, structuring, and executing high-value partnerships, financings, and mergers and acquisitions that create long-term shareholder value," said Kent Hawryluk, President and Chief Executive Officer of MBX Biosciences. "Her experience executing complex, value-creating agreements with major global pharmaceutical companies will be instrumental as we advance our pipeline and pursue strategic opportunities to maximize the impact of our therapies for patients."

"I am thrilled to join MBX Biosciences at such an exciting time in the company's evolution," said Ms. Basbaum. "MBX has built a compelling pipeline of innovative peptide therapies with the potential to address significant unmet medical needs. I look forward to working with the talented team to forge strategic partnerships, accelerate development, and help bring these important therapies to patients worldwide."

Karen Basbaum is an accomplished biopharmaceutical executive with more than two decades of experience in corporate strategy, business development, and value-creating transactions across the biotechnology and pharmaceutical industries. Prior to joining MBX Biosciences, Ms. Basbaum served as Senior Vice President of Business Development at Poseida Therapeutics, where she was a member of the Executive Committee and led strategic partnerships and corporate transactions totaling more than $10 billion in potential value, and she played a key role in the company's sale to Roche for up to $1.5 billion. Earlier in her career, Ms. Basbaum held senior business development leadership roles at DNAtrix, Dauntless Pharmaceuticals, and Elcelyx Therapeutics, where she led partnering strategies, financings, and strategic initiatives. She also served as Director of Business Development at Amylin Pharmaceuticals, contributing to the company's $7 billion acquisition by Bristol Myers Squibb. Ms. Basbaum began her career in scientific research roles at Celgene and Abbott Laboratories. She holds an MBA from the University of California, Irvine; an M.S. in Organic Chemistry from Rensselaer Polytechnic Institute; and dual B.S. degrees in Chemistry and Biology (honors) from the University of North Dakota.

About MBX Biosciences

MBX Biosciences is a biopharmaceutical company focused on the discovery, development and commercialization of novel precision peptide therapies based on its proprietary PEP™ platform, for the treatment of endocrine and metabolic disorders. The Company is advancing a pipeline of novel candidates for endocrine and metabolic disorders with clinically validated targets, established endpoints for regulatory approval, significant unmet medical needs and large potential market opportunities. The Company's pipeline includes canvuparatide (MBX 2109) for the treatment of chronic hypoparathyroidism (HP) preparing for Phase 3 development; an obesity portfolio that includes MBX 4291 in Phase 1 development, as well as multiple discovery and pre-clinical obesity candidates; and imapextide (MBX 1416) for the treatment of post-bariatric hypoglycemia (PBH) in Phase 2 development. The Company is based in Carmel, Indiana. To learn more, please visit the Company website at www.mbxbio.com and follow it on LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, but are not limited to, express or implied statements regarding: MBX Biosciences' expectations regarding Ms. Basbaum's ability to help advance business development and strategic transactions, MBX Biosciences' expectations regarding the further advancement of its pipeline of programs in endocrine and metabolic disorders; and MBX Biosciences' plans for delivery of differentiated endocrine and metabolic compounds to underserved patients.

Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect MBX Biosciences' business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to the Company's research and development activities; uncertainties relating to preclinical and clinical development activities; uncertainties relating to preclinical and clinical development activities; the risk that preliminary results may not be indicative of later results; MBX Biosciences' ability to attract, integrate and retain key personnel; as well as other risks described in "Risk Factors," in MBX Biosciences' Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (SEC), as well as subsequent filings with the SEC. MBX Biosciences expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

MBX uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company's Investor Relations website, in addition to following the Company's press releases, SEC filings, public conference calls, presentations, and webcasts.

Media Contact:

George Shea

We. Communications

[email protected]

Investor Contact:

Jim DeNike

MBX Biosciences

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/785451eb-27cb-4fc1-af71-1977f8080683