TEL AVIV, Israel, June 8, 2017 /PRNewswire/ -- Galmed
Pharmaceuticals Ltd. (Nasdaq: GLMD) ("Galmed" or the "Company"), a
clinical-stage biopharmaceutical company focused on the development
of a once-daily, oral therapy for the treatment of nonalcoholic
steatohepatitis, or NASH, and other liver diseases, announced today
that on June 7, 2017, the Company
held an annual general meeting of shareholders (the "Meeting"), at
which the Company's shareholders voted to elect Dr. Carol L. Brosgart as a new Class I director to
serve as a member of the board of directors until the close of the
annual general meeting to be held in 2018.
Dr. Brosgart brings a vast array of clinical, policy and
corporate experience to Galmed having held senior management
positions with several leading pharmaceutical and life sciences
companies. Dr. Brosgart, as Vice President, Clinical Research at
Gilead Sciences, oversaw the NDA, EU and global approvals and
launches of Viread™ for HIV and
Hepsera™ for Hepatitis B. Recently, she
served for eight years as a member of the board of directors of
Tobira Therapeutics until it was acquired by Allergan in
November 2016. She is also active in
the public policy arena for AASLD and IDSA/HIVMA. Dr. Brosgart is a
member of the Executive Committee of the Forum for Collaborative
Research (FCR) at the University of
California, Berkeley and has served on both the Steering
Committee of the FCR's Liver Forum, which is a leader in the field
of collaborative research focused on NASH, and the FCR's HBV Forum,
focused on cure research for Hepatitis B. She has published widely
in the field of chronic viral infections and liver disease and
serves as a Clinical Professor of Medicine, Biostatistics and
Epidemiology at the University of California
San Francisco (UCSF).
Allen Baharaff, Galmed's President and Chief Executive Officer
stated, "Dr. Brosgart has extensive clinical and drug development
experience with direct relevance to both our clinical studies in
NASH (the ARREST study) and HIV associated NAFLD and lipodystrophy
(the ARRIVE study). We believe her experience in launching
successful new drugs and navigating commercial launches and
corporate transactions will prove invaluable to Galmed as we
continue our drug development in chronic liver disease."
Dr. Brosgart stated, "I am pleased to join the board of
directors of Galmed, a leading company in clinical research in NASH
and fibrosis. NASH, a chronic, progressive liver disease, in the
spectrum of non-alcoholic fatty liver disease, has rapidly become a
leading cause for end-stage liver disease, hepatocellular
carcinoma, and liver transplantation, both in the United States and globally. NASH is a
complex disease that will likely require therapy that addresses the
underlying metabolic abnormalities, in addition to inflammation and
fibrosis."
For the full results of the Meeting, please refer to the
Company's Form 6-K filed with the Securities and Exchange
Commission on June 8, 2017.
About Aramchol™ and Non-alcoholic
Steatohepatitis (NASH)
Aramchol™ (arachidyl amido cholanoic
acid) is a novel fatty acid bile acid conjugate, inducing
beneficial modulation of intra-hepatic lipid metabolism.
Aramchol™'s ability to modulate hepatic
lipid metabolism was discovered and validated in animal models,
demonstrating down regulation of the three key pathologies of NASH:
steatosis, inflammation and fibrosis. The effect of
Aramchol™ on fibrosis is mediated by down
regulation of steatosis and directly on human collagen producing
cells. Aramchol™ has been granted by the
FDA Fast Track designation status for the treatment of NASH.
NASH is an emerging world crisis impacting 3% to 5% of the U.S.
population and 2% to 4% globally. It is the fastest growing cause
of liver cancer and liver transplant in the U.S. due to the rise in
obesity. NASH is the progressive form of non-alcoholic fatty liver
disease that can lead to cardiovascular disease, cirrhosis and
liver-related mortality.
About Galmed Pharmaceuticals Ltd.:
Galmed is a clinical-stage biopharmaceutical company focused on
the development of Aramchol™, a first in
class, novel, once-daily, oral therapy for the treatment of NASH
for variable populations, as well as other liver associated
disorders. Galmed is currently conducting the ARREST Study, a
multicenter, randomized, double blind, placebo-controlled Phase IIb
clinical study designed to evaluate the efficacy and safety of
Aramchol™ in subjects with NASH, who are
overweight or obese, and who are pre-diabetic or type-II-diabetic.
Galmed also sponsors the ARRIVE Study, a proof-of-concept Phase IIa
clinical trial designed to evaluate the safety and efficacy of
Aramchol in up to 50 patients with HIV-associated NAFLD and
lipodystrophy. The ARRIVE Study is an investigator-initiated trial,
conducted at the University of California San
Diego by Professor Rohit
Loomba. More information about the ARREST Study and the
ARRIVE Study may be found on ClinicalTrials.gov identifiers:
NCT02279524 and NCT02684591, respectively.
Forward-Looking Statements:
This press release may include forward-looking statements.
Forward-looking statements may include, but are not limited to,
statements relating to Galmed's objectives, plans and strategies,
as well as statements, other than historical facts, that address
activities, events or developments that Galmed intends, expects,
projects, believes or anticipates will or may occur in the future.
These statements are often characterized by terminology such as
"believes," "hopes," "may," "anticipates," "should," "intends,"
"plans," "will," "expects," "estimates," "projects," "positioned,"
"strategy" and similar expressions and are based on assumptions and
assessments made in light of management's experience and perception
of historical trends, current conditions, expected future
developments and other factors believed to be appropriate.
Forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in
such statements. Applicable risks and uncertainties include risks
and uncertainties associated with the initiation, timing, progress
and results of the Company's research, preclinical studies and
clinical trials as well as risks and uncertainties identified under
the heading "Risk Factors" included in Galmed's most recent Annual
Report on Form 20-F filed with the Securities and Exchange
Commission, or the SEC, on March 23,
2017, and in other filings that Galmed has made and may make
with the SEC in the future. The forward-looking statements
contained in this press release are made as of the date of this
press release and reflect Galmed's current views with respect to
future events, and Galmed does not undertake and specifically
disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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SOURCE Galmed Pharmaceuticals Ltd.