Diffusion Pharmaceuticals Inc. (Nasdaq:
DFFN) (“Diffusion,” the “Company,” “we,” “our” or
“us”), a cutting-edge biotechnology company developing new
treatments for life-threatening medical conditions by improving the
body’s ability to bring oxygen to the areas where it is needed
most, announces the appointment of Robert Cobuzzi, Jr., Ph.D., 55,
to the Company’s board of directors, effective immediately.
Dr. Cobuzzi is an accomplished life sciences
professional with 25 years of cross-functional leadership
experience in the pharmaceutical and biotechnology
industries. His areas of expertise include corporate
development, research & development, and operations. From
2005 until 2018 he was with Endo International Plc, a specialty
branded and generic pharmaceutical manufacturer, holding positions
of increasing responsibility including most recently President,
Endo Ventures Limited in Dublin, Ireland from 2015 until 2018.
Prior to Endo, he was with Adolor Corporation (now Cubist) from
2001 until 2005, where he was Director of Scientific Licensing from
2003 until 2005. He began his career in 1995 at AstraMerck as
a Clinical Program Scientist, later becoming a Clinical Project
Manager before joining Centocor, a subsidiary of Johnson &
Johnson) as Manager, Worldwide Regulatory Affairs from 1999 to
2001.
Over the course of his career, Dr. Cobuzzi has
led multidisciplinary teams in executing over $6B in acquisitions,
licenses and collaboration transactions. He has authored
multiple scientific publications and abstracts, has served on
multiple industry panels and has taught and lectured at various
universities and conferences.
Dr. Cobuzzi has significant board and strategic
advisory experience, including his current positions of chairman of
Sunstone Life Science Venture’s Business Development Board and
advisor to the Mitochondrial Disease Frontier Program at the
Children’s Hospital of Philadelphia. He was a member of the
U.S. Department of Commerce’s Industry Trade Advisory Committee on
Chemicals, Pharmaceuticals, Health/Science Products and Services,
and previously served as a board member for two development-stage
medical device companies.
“We are fortunate to add a professional of Bob’s
stature to our board of directors, and welcome his experience and
insight to Diffusion,” said David Kalergis, chairman and chief
executive officer of Diffusion. “His contributions to our
Company are expected to be both broad and deep, as we leverage his
knowledge from drug development to business development and
funding, both in the U.S. and abroad. We believe Bob will be
invaluable in helping us to achieve our goals,” Mr. Kalergis
concluded.
Commenting on his appointment, Dr. Cobuzzi said,
"I’m honored and excited to have the opportunity to join the
Diffusion Board. I look forward to working with the Board and
leadership to help the Company achieve its medically-important goal
of bringing treatments for oxygen deprivation to the market.”
Dr. Cobuzzi holds an A.B. in Biochemistry and
Art History from Colby College and a Ph.D. in Molecular and
Cellular Biochemistry from Loyola University Chicago. He was
a post-doctoral fellow in the Department of Experimental
Therapeutics at the Roswell Park Cancer Institute in Buffalo,
N.Y.
About Diffusion Pharmaceuticals
Inc.
Diffusion Pharmaceuticals Inc. is an innovative
biotechnology company developing new treatments that improve the
body’s ability to bring oxygen to the areas where it is needed
most, offering new hope for the treatment of life-threatening
medical conditions.
Diffusion’s lead drug TSC was originally
developed in conjunction with the Office of Naval Research, which
was seeking a way to treat hemorrhagic shock caused by massive
blood loss on the battlefield.
Evolutions in research have led to Diffusion’s
focus today: Fueling Life by taking on some of medicine’s most
intractable and difficult-to-treat diseases, including stroke and
GBM brain cancer. In each of these diseases, hypoxia – oxygen
deprivation of essential tissue in the body – has proved to be a
significant obstacle for medical providers and is the target for
TSC’s novel mechanism.
In July 2019 the Company reported favorable
safety data in a 19-patient dose-escalation run-in study to its
Phase 3 INTACT program, using TSC to target inoperable GBM. Further
findings from the dose-escalation run-in study, released in
December 2019, also showed signals of enhanced survival and patient
performance. Diffusion’s on-ambulance PHAST-TSC trial for acute
stroke has begun patient enrollment. In addition, preclinical data
supports the potential for TSC as a treatment for other conditions
where hypoxia plays a major role, such as myocardial infarction,
respiratory diseases such as COPD, peripheral artery disease, and
neurodegenerative conditions such as Alzheimer’s and Parkinson’s
disease.
Further, RES-529, the Company’s PI3K/AKT/mTOR
pathway inhibitor that dissociates the mTORC1 and mTORC2 complexes,
is in preclinical testing for GBM.
Diffusion is headquartered in Charlottesville,
Virginia – a hub of advancement in the life science and
biopharmaceutical industries – and is led by CEO David Kalergis, a
30-year industry veteran and company co-founder.
Forward-Looking Statements
To the extent any statements made in this news
release deal with information that is not historical, these are
forward-looking statements under the Private Securities Litigation
Reform Act of 1995. Such statements include, but are not limited
to, statements about the company's plans, objectives, expectations
and intentions with respect to future operations and products, the
potential of the company's technology and product candidates, and
other statements that are not historical in nature, particularly
those that utilize terminology such as "would," "will," "plans,"
"possibility," "potential," "future," "expects," "anticipates,"
"believes," "intends," "continue," "expects," other words of
similar meaning, derivations of such words and the use of future
dates. Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. Uncertainties and risks
may cause the Diffusion’s actual results to be materially different
than those expressed in or implied by such forward-looking
statements. Particular uncertainties and risks include: Diffusion’s
ability to maintain its Nasdaq listing, market conditions, the
difficulty of developing pharmaceutical products, obtaining
regulatory and other approvals and achieving market acceptance;
general business and economic conditions; the sufficiency of the
company’s cash,the company's need for and ability to obtain
additional financing or partnering arrangements; and the various
risk factors (many of which are beyond Diffusion’s control) as
described under the heading “Risk Factors” in Diffusion’s filings
with the United States Securities and Exchange Commission. All
forward-looking statements in this news release speak only as of
the date of this news release and are based on management's current
beliefs and expectations. Diffusion undertakes no obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Investor Contacts:David
Kalergis, CEODiffusion Pharmaceuticals Inc.(434)
220-0718dkalergis@diffusionpharma.com
LHA Investor RelationsKim Sutton Golodetz(212)
838-3777kgolodetz@lhai.com
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