CAMBRIDGE, Mass., March 4, 2024 /PRNewswire/ -- NeuroBo
Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage
biotechnology company focused on transforming cardiometabolic
diseases of cardiometabolic diseases, today announced the
appointment of Marshall Woodworth as
Chief Financial Officer, Principal Financial Officer and Principal
Accounting Officer, effective March 1,
2024, following his tenure as Acting Chief Financial Officer
since October 27, 2023.
"Marshall's decades of experience as a Chief Financial Officer
for a variety of pharmaceutical and medical device companies makes
him an obvious choice to appoint as a permanent Chief Financial
Officer following his tenure in the acting role for the last few
months," stated Hyung Heon Kim,
President and Chief Executive Officer of NeuroBo. "We look forward
to continuing to leverage Marshall's operational and transactional
experience as we advance the clinical development of our two, next
generation cardiometabolic assets that address the metabolic
dysfunction-associated steatohepatitis (MASH) and obesity markets,
DA-1241 and DA-1726. I am confident that Marshall will continue to
play a pivotal role in our company's success, providing strategic
guidance crucial to achieving our multiple, near-term, value
creating milestones."
Mr. Woodworth added, "I look forward to continuing my role on
NeuroBo's executive team as we continue to advance toward our
clinical milestones including reporting the full data from our
Phase 2a clinical trial evaluating DA-1241 for the treatment of
MASH in the second half of this year. Following the recent U.S.
Food and Drug Administration (FDA) clearance of our Investigational
New Drug (IND) application, I also eagerly anticipate the
initiation of our phase 1 clinical trial during the first half of
this year, investigating the safety and tolerability of DA-1726 in
obesity. I am thoroughly optimistic about NeuroBo's future and
committed to contributing to its success."
Prior to joining NeuroBo Pharmaceuticals, from May 2017 through May
2023, Mr. Woodworth served as the Chief Financial Officer at
Nevakar, Inc., where he was responsible for the accounting,
financing, legal and human resources functions. Prior to that, Mr.
Woodworth served as the Chief Financial Officer of Braeburn
Pharmaceuticals, Inc., where he led and coordinated the accounting,
finance and treasury functions. Earlier, Mr. Woodworth served as
the Chief Financial Officer at Aerocrine AB, and, before that, held
the position of Chief Financial Officer at Furiex Pharmaceuticals
Inc.
Mr. Woodworth earned a Bachelor of Science in engineering and
geology from the University of Maryland
as well as Master of Business Administration degree from
Indiana University Bloomington.
About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals,
Inc. is a clinical-stage biotechnology company focused on
transforming cardiometabolic diseases. The company is currently
developing DA-1241 for the treatment of Metabolic
Dysfunction-Associated Steatohepatitis (MASH) and Type 2 Diabetes
Mellitus (T2DM), and is developing DA-1726 for the treatment of
obesity. DA-1241 is a novel G-protein-coupled receptor 119 (GPR119)
agonist that promotes the release of key gut peptides GLP-1, GIP,
and PYY. In preclinical studies, DA-1241 demonstrated a positive
effect on liver inflammation, lipid metabolism, weight loss, and
glucose metabolism, reducing hepatic steatosis, hepatic
inflammation, and liver fibrosis, while also improving glucose
control. DA-1726 is a novel oxyntomodulin (OXM) analogue that
functions as a glucagon-like peptide-1 receptor (GLP1R) and
glucagon receptor (GCGR) dual agonist. OXM is a naturally-occurring
gut hormone that activates GLP1R and GCGR, thereby decreasing food
intake while increasing energy expenditure, thus potentially
resulting in superior body weight loss compared to selective GLP1R
agonists. For more information, please visit
www.neurobopharma.com.
Forward Looking Statements
Certain statements in this release may be considered
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "believes",
"expects", "anticipates", "may", "will", "should", "seeks",
"approximately", "intends", "projects," "plans", "estimates" or the
negative of these words or other comparable terminology (as well as
other words or expressions referencing future events, conditions or
circumstances) are intended to identify forward-looking statements.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
release, including, without limitation, those risks associated with
NeuroBo's ability to execute on its commercial strategy; the
timeline for regulatory submissions; ability to obtain regulatory
approval through the development steps of NeuroBo's current and
future product candidates, the ability to realize the benefits of
the license agreement with Dong-A ST Co. Ltd., including the impact
on future financial and operating results of NeuroBo; the
cooperation of our contract manufacturers, clinical study partners
and others involved in the development of NeuroBo's current and
future product candidates; potential negative interactions between
our product candidates and any other products with which they are
combined for treatment; NeuroBo's ability to initiate and complete
clinical trials on a timely basis; our ability to recruit subjects
for its clinical trials; whether NeuroBo receives results from
NeuroBo's clinical trials that are consistent with the results of
pre-clinical and previous clinical trials; impact of costs related
to the license agreement, known and unknown, including costs of any
litigation or regulatory actions relating to the license agreement;
effects of changes in applicable laws or regulations; effects of
changes to NeuroBo's stock price on the terms of the license
agreement and any future fundraising; and other risks and
uncertainties described in our filings with the SEC.
Forward-looking statements speak only as of the date when made.
NeuroBo does not assume any obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Contact:
NeuroBo Pharmaceuticals
Marshall H. Woodworth
Chief Financial Officer
+1-857-299-1033
marshall.woodworth@neurobopharma.com
Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com
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SOURCE NeuroBo Pharmaceuticals, Inc.