TEL AVIV, Israel, Dec. 16, 2021 /PRNewswire/ -- Chemomab
Therapeutics Ltd. (Nasdaq: CMMB), (Chemomab) a clinical-stage
biotechnology company focused on the discovery and development of
innovative therapeutics for fibrotic and inflammatory diseases with
high unmet need, today announced that, as planned and announced
earlier this year, CEO Dale R.
Pfost, PhD will assume the additional role of Chairman,
subject to the approval of Chemomab's shareholders, as is required
under Israeli law. A shareholder vote is expected to be held in or
around February 2022. Stephen Squinto, PhD, will be leaving his
current positions as Chairman of the Chemomab board and as a
director of the company, effective December
19, 2021.
"Steve has been a great contributor to Chemomab's maturation as
a public company, and we thank him for his wise leadership and
counsel," said Dr. Pfost "This is an exciting time for Chemomab, as
we advance our Phase 2 clinical programs in primary sclerosing
cholangitis and liver fibrosis, while preparing to initiate a third
Phase 2 trial in systemic sclerosis early next year. I look forward
to my expanded role working with our board of directors as we
execute on the company's plans for continued growth."
Dr. Squinto noted, "This is an appropriate time for me to hand
over the leadership reins at Chemomab, with Dale fully onboard as
chief executive, the planned expansion of the executive team well
underway and the company making good progress in its three clinical
programs. I look forward to reports of their continued progress
under the leadership of Dale and the experienced Chemomab senior
management team."
About Chemomab Therapeutics Ltd.
Chemomab is a clinical-stage biotechnology company focusing
on the discovery and development of innovative therapeutics for
fibrotic and inflammatory diseases with high unmet need. Based on
the unique and pivotal role of the soluble protein CCL24 in
promoting fibrosis and inflammation, Chemomab developed CM-101, a
monoclonal antibody designed to bind and block CCL24 activity.
CM-101 has demonstrated the potential to treat multiple severe and
life-threatening fibrotic and inflammatory diseases. It is
currently in two Phase 2 safety and efficacy trials—one in patients
with primary sclerosing cholangitis and the second in patients with
liver fibrosis, with a third Phase 2 trial in systemic sclerosis
expected to begin early in 2022.
For more information on Chemomab, visit chemomab.com.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act. These
forward-looking statements include, among other things, statements
regarding the clinical development pathway for CM-101; the future
operations of Chemomab and its ability to successfully initiate and
complete clinical trials and achieve regulatory milestones; the
nature, strategy and focus of Chemomab; the development and
commercial potential and potential benefits of any product
candidates of Chemomab; and that the product candidates have the
potential to address high unmet needs of patients with serious
fibrosis-related diseases and conditions. Any statements contained
in this communication that are not statements of historical fact
may be deemed to be forward-looking statements. These
forward-looking statements are based upon Chemomab's current
expectations. Forward-looking statements involve risks and
uncertainties. Because such statements deal with future events and
are based on Chemomab's current expectations, they are subject to
various risks and uncertainties and actual results, performance or
achievements of Chemomab could differ materially from those
described in or implied by the statements in this presentation,
including: the likelihood that Chemomab's shareholders approve the
appointment of Dr. Dale Pfost to the
position of Chairman of the Board; the uncertain and time-consuming
regulatory approval process; risks related to Chemomab's ability to
correctly manage its operating expenses and its expenses;
Chemomab's plans to develop and commercialize its product
candidates, focusing on CM-101; the timing of initiation of
Chemomab's planned clinical trials; the timing of the availability
of data from Chemomab's clinical trials; the timing of any planned
investigational new drug application or new drug application;
Chemomab's plans to research, develop and commercialize its current
and future product candidates; the clinical utility, potential
benefits and market acceptance of Chemomab's product candidates;
Chemomab's commercialization, marketing and manufacturing
capabilities and strategy; Chemomab's ability to protect its
intellectual property position; and the requirement for additional
capital to continue to advance these product candidates, which may
not be available on favorable terms or at all. Additional risks and
uncertainties relating to Chemomab's and its business can be found
under the caption "Risk Factors" and elsewhere in Chemomab's
filings and reports with the SEC. Chemomab 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 Chemomab's expectations with regard thereto
or any change in events, conditions or circumstances on which any
such statements are based.
Contacts:
Investor Relations:
Irina Koffler
LifeSci Advisors, LLC
Phone: +1-917-734-7387
ir@chemomab.com
Media:
Barbara Lindheim
Chemomab Therapeutics
Consulting Vice President
Investor & Public Relations, Strategic Communications
Phone: +1-917-355-9234
barbara@chemomab.com
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SOURCE Chemomab Therapeutics Ltd