BOSTON, July 12, 2021 /PRNewswire/ -- NeuroBo
Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage
biotechnology company focused on developing and commercializing
multimodal disease-modifying therapies for viral, neuropathic and
neurodegenerative diseases, today announced the results of the
elections conducted at its Annual Meeting of Shareholders, held
Friday July 9, 2021, during which
Hyung Heon Kim and Andrew I.
Koven were elected to the Company's Board of Directors .
Neither Akash Bakshi nor
Jeong Gyun Oh stood for re-election
at the Annual Meeting. The Board would like to thank Mr. Bakshi and
Mr. Oh for their service. The NeuroBo Board now consists of
seven directors, six of whom are considered independent
directors.
"On behalf of the NeuroBo Board, I am delighted to welcome Hyung
and Andrew to the Company. Their collective industry leadership
experience and legal expertise will be greatly valued as we advance
our pipeline of multi-modal disease-modifying therapies for viral,
neuropathic, and neurodegenerative diseases," stated Richard J. Kang, Ph.D., President and Chief
Executive Officer of NeuroBo.
"This is an exciting time to join the NeuroBo Board as the
Company is making great strides in advancing its lead asset,
ANA001, toward late-stage development in viral diseases, starting
with COVID-19. I look forward to working with NeuroBo's Board and
executive management to support the Company's future growth,"
commented Mr. Kim.
"NeuroBo is at an important juncture in its evolution, and I
look forward to leveraging my many years of experience leading drug
development companies in order to help the Company realize its
long-term vision," said Mr. Koven.
Hyung Heon Kim
Mr. Kim is the General Counsel and a Vice President of Dong-A ST
and Dong-A Socio Group, a Korean-based group of companies mainly
engaged in the research, development, production and sale of
pharmaceuticals, medical devices and APIs. Mr. Kim has served as
General Counsel of Dong-A ST since January
2018 and as a Vice President of Dong-A ST since December 2020. He previously served as Executive
Director of Dong-A ST from January
2018 through December 2020.
Earlier, Mr. Kim was Head of International Legal Affairs for Dong-A
Socio Holdings Co., Ltd., a Korean-based holding company for the
Dong-A Socio group of companies, from 2012 to 2018. Prior to
joining Dong-A Socio Group, Mr. Kim served as legal counsel to SK
Energy Co., Ltd. and SK Innovation Co., Ltd. from 2008 to 2011.
Since April 2021, Mr. Kim has served
as a director of AnaPath Services GmbH, a private Swiss-based
provider of scientific research and development services, and STP
America Research Corp, a private New
Jersey-based research and development company.
Mr. Kim received his Bachelor of Law degree from Soongshil
University in Korea and his Juris Doctor from Washington University School of Law.
Andrew I. Koven
Mr. Koven is the Lead Independent Director of Kala
Pharmaceuticals, Inc., a public biopharmaceutical company focused
on the discovery, development and commercialization of innovative
therapies for diseases of the eye, and has been, since December 2018; and has been a member of the Kala
Board of Directors since September
2017. Mr. Koven was, until his retirement in January 2019, the President and Chief Business
Officer of Aralez Pharmaceuticals Inc., a public specialty
pharmaceutical company, and served in that role with the company's
predecessor, Pozen Inc., commencing in June
2015. Prior to joining Pozen, Mr. Koven was Executive Vice
President, Chief Administrative Officer and General Counsel of
Auxilium Pharmaceuticals Inc., a public specialty biopharmaceutical
company, from February 2012 until
January 2015, when it was acquired by
Endo International plc. Mr. Koven served as President and Chief
Administrative Officer and a member of the Board of Directors of
Neurologix, Inc., a company focused on the development of multiple
innovative gene therapy development programs, from September 2011 to November
2011. Before Neurologix, Mr. Koven held the Executive Vice
President and Chief Administrative and Legal Officer position at
Inspire Pharmaceuticals, Inc., a public specialty
pharmaceutical company, from July
2010 until May 2011 when it
was acquired by Merck & Co., Inc. From March 2007 until February
2010, Mr. Koven was Executive Vice President, General
Counsel and Corporate Secretary of Sepracor Inc. (now Sunovion), a
public specialty pharmaceutical company, until its acquisition by
Dainippon Sumitomo Pharma Co., Ltd. in 2010. Prior to joining
Sepracor, Mr. Koven served as Executive Vice President, General
Counsel and Corporate Secretary of Kos Pharmaceuticals, Inc., a
public specialty pharmaceutical company, from August 2003 until its acquisition by Abbott
Laboratories (now AbbVie) in December
2006. Mr. Koven began his career in the pharmaceutical
industry first as an Assistant General Counsel and then as
Associate General Counsel at Warner-Lambert Company from 1993 to
2000, followed by his role as Senior Vice President and General
Counsel at Lavipharm Corporation from 2000 to 2003. From 1986 to
1992 he was a corporate associate at Cahill, Gordon & Reindel
in New York. From 1992 to 1993 he
served as Counsel, Corporate and Investment Division, at The at The
Equitable Life Assurance Society of the U.S.
Mr. Koven holds a Master of Laws (LL.M.) Degree from
Columbia University School of Law and a
Bachelor of Laws (LL.B.) Degree and Bachelor of Arts Degree in
Political Science from Dalhousie
University.
About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals, Inc., a clinical-stage biotechnology
company focused on developing and commercializing multi-modal
disease-modifying therapies for viral, neuropathic, and
neurodegenerative diseases, has a current portfolio of four
drug candidates. The company's recently acquired ANA001 candidate
is a proprietary oral niclosamide formulation in development as a
treatment for patients with moderate to severe COVID-19 (patients
not requiring ventilators). Niclosamide is a potential oral
antiviral and anti-inflammatory agent with a long history of use
and a well-understood safety profile in humans. ANA001 is currently
being studied in a 60-subject Phase 2/3 clinical trial conducted at
up to 20 clinical sites in the U.S. Niclosamide has demonstrated
both antiviral and immunomodulatory activity with possible
downstream effects on coagulation abnormalities observed in
COVID-19. The company's NB-01 candidate has been shown in a Phase 2
study to significantly reduce pain symptoms associated with painful
diabetic neuropathy (PDN), with a superior safety profile when
compared to currently available treatments. Due to the global
COVID-19 crisis, a planned Phase 3 study of NB-01 was postponed. In
the interim, NeuroBo is exploring a potential orphan drug
indication targeting chronic pain for NB-01. NeuroBo's NB-02 drug
candidate is focused on the treatment of Alzheimer's disease and
neurodegenerative diseases associated with the pathological
dysfunction of tau proteins in the brain. The company's fourth
program, Gemcabene, was previously being developed for the
treatment of dyslipidemia, a serious medical condition that
increases the risk of life-threatening cardiovascular disease.
Gemcabene is currently being assessed as an acute treatment for
COVID-19.
For more information
visit: https://www.neurobopharma.com.
Forward Looking Statements
Any statements in this press release that are not statements of
historical fact constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements include, but are not limited to,
statements regarding the development of NeuroBo's product
candidates and the therapeutic potential, timing and nature of
clinical trials and potential regulatory approval of NeuroBo's
clinical programs and pipeline. Forward-looking statements are
usually identified by the use of words, such as "believes,"
"anticipates," "expects," "intends," "plans," "may," "potential,"
"will," "could" and similar expressions. Actual results may differ
materially from those indicated by forward-looking statements as a
result of various important factors and risks. These factors, risks
and uncertainties include, but are not limited to: the failure to
obtain all of the benefits or recognize all of the synergies
anticipated from the ANA acquisition; the integration of ANA
potentially diverting management resources from operational matters
and other strategic opportunities; the effect of future milestone
payments and royalties specified in the ANA acquisition agreement
on the results of operations and financial position of NeuroBo; the
occurrence of health epidemics or contagious diseases, such as
COVID-19, and potential effects on NeuroBo's business, clinical
trial sites, supply chain and manufacturing facilities; NeuroBo's
ability to continue as a going concern; the timing of completion of
NeuroBo's planned clinical trials, including with respect to ANA001
and Gemcabene; the timing of the availability of data from
NeuroBo's clinical trials, including with respect to ANA001 and
Gemcabene; NeuroBo's plans to research, develop and
commercialize its current and future product candidates, including
the potential alternative pathways for NB-01; NeuroBo's ability to
successfully collaborate with existing collaborators or enter into
new collaborations and to fulfill its obligations under any such
collaboration agreements; the clinical utility, potential benefits
and market acceptance of NeuroBo's product candidates, including
ANA001 and Gemcabene; the impact of government laws and
regulations; NeuroBo's ability to protect its intellectual property
position; and NeuroBo's need for additional financing to fulfill
its stated goals; and other factors discussed in the "Risk Factors"
section of NeuroBo's Annual Report on Form 10-K filed with the
Securities and Exchange Commission on or about the date hereof. In
addition, the forward-looking statements included in this press
release represent NeuroBo's views as of the date hereof. NeuroBo
anticipates that subsequent events and developments will cause its
views to change. However, while NeuroBo may elect to update these
forward-looking statements at some point in the future, NeuroBo
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing NeuroBo's views as of any date subsequent to the date
hereof.
Contacts:
Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com
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SOURCE NeuroBo Pharmaceuticals, Inc.