BOSTON, Aug. 14,
2023 /PRNewswire/ -- NeuroBo Pharmaceuticals,
Inc. (Nasdaq: NRBO), a clinical-stage biotechnology
company on a quest to transform cardiometabolic diseases, today
announced the appointment of current Board member, Hyung Heon ("H.H.") Kim, as the Company's Chief
Executive Officer and President, effective immediately.
Mr. Kim succeeds Joseph Hooker,
who served as interim Chief Executive Officer and President since
January 2023.
Prior to his appointment as Chief Executive Officer and
President, Mr. Kim served as the General Counsel and a Senior Vice
President of Dong-A ST Co, Ltd. ("Dong-A"), currently
the Company's largest stockholder and NeuroBo's partner with
respect to its newly in-licensed assets, DA-1241 and DA-1726,
potential therapies for nonalcoholic steatohepatitis (NASH),
obesity and type 2 diabetes. Mr. Kim has been with Dong-A and its
affiliates in various roles since 2012.
"H.H.'s deep familiarity with DA-1241 and DA-1726 and strong
working relationship with our partner, Dong-A, along with his
operational experience, will put NeuroBo in a strong position to
advance the clinical development of DA-1241 and DA-1726,"
said Andrew I. Koven, Chairman of NeuroBo's Board of
Directors. "We are also pleased that H.H. will continue to serve on
the Board, where, since 2021, he has made significant contributions
to the evolution of the Company."
Mr. Kim stated, "It is my honor to lead NeuroBo as we continue
to advance our diversified pipeline and to position the Company as
a leader in the development of treatments for NASH, along with
obesity and type 2 diabetes. I look forward to working closely with
the NeuroBo team to deliver on the promise of DA-1241 and
DA-1726 as we move these assets through their next stages of
clinical development, particularly in NASH and obesity and
potentially type 2 diabetes, areas with enormous market
opportunity."
About Hyung Heon
Kim
Mr. Kim has served as a member of the Company's Board since
July 2021. Prior to his appointment
as Chief Executive Officer and President of the Company, Mr. Kim
was the General Counsel and a Senior 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 previously
served as Executive Director of Dong-A ST from 2018 through 2020
and as Head of International Legal Affairs for Dong-A Socio
Holdings Co., Ltd., a Korean-based holdings company for the Dong-A
Socio group of companies from 2012 to 2018. During his time at
Dong-A ST and Dong-A Socio Holdings, he negotiated many significant
transactions, including licensing and investment transactions.
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. Mr. Kim
previously served as legal counsel to SK Energy Co., Ltd. and SK
Innovation Co., Ltd. He received his Bachelor of Law degree from
Soongshil University in Korea, and obtained his Juris Doctor from
Washington University School of
Law.
About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals, Inc. is a clinical-stage biotechnology
company on a quest to transform cardiometabolic diseases. The
company is currently developing DA-1241 for the treatment of
Non-Alcoholic Steatohepatitis (NASH) 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,
which promotes the release of key gut peptides GLP-1, GIP, and PYY.
In preclinical studies, DA-1241 demonstrated 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 acts 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
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. 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 success of NeuroBo's new
permanent Chief Executive Officer and President, the advancement of
NeuroBo's drug development pipeline, in particular through clinical
development, NeuroBo's ability to follow the timeline for
regulatory submissions and obtain regulatory approvals with respect
to the development and commercialization of NeuroBo's current and
future product candidates, the ability to realize the benefits of
the license agreement with Dong-A, including the impact on future
financial and operating results of NeuroBo; the ability to
integrate the new product candidates into NeuroBo's business in a
timely and cost-efficient manner; the cooperation of NeuroBo's
contract manufacturers, clinical study partners and others involved
in the development of NeuroBo's current and future product
candidates; costs related to the license agreement, known and
unknown, including costs of any litigation or regulatory actions
relating to the license agreement; 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 NeuroBo's filings with
the SEC; 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 March 30,
2023. 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
Investors & Media:
Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com
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SOURCE NeuroBo Pharmaceuticals, Inc.