Sagimet Biosciences Announces Leadership Changes
July 20 2023 - 4:05PM
Sagimet Biosciences Inc. (“Sagimet”) (Nasdaq: SGMT), a
clinical-stage biopharmaceutical company developing novel
therapeutics targeting dysfunctional metabolic pathways, today
announced a series of leadership changes and appointments, designed
to ensure a seamless transition into the next stage of growth for
the company. Elizabeth Rozek was appointed earlier this year as
General Counsel & Chief Compliance Officer, and Anthony M.
Rimac, who currently serves as Chief Operating Officer, will assume
the position of Chief Financial Officer as of August 1, 2023.
Dennis Hom, our current CFO, will continue to serve in an
advisory capacity for several months. In addition, Gordon Ringold,
Ph.D., and James F. Young, Ph.D., have stepped down from the board
of directors as of July 13.
“It is my privilege to welcome Liz and Tony to the Sagimet
leadership team. Their extensive experience will help strengthen
our ability to efficiently advance our pipeline of FASN inhibitors
for areas of high unmet need, including NASH, acne and oncology,”
said David Happel, Chief Executive Officer of Sagimet. “We look
forward to harnessing their strategic guidance that will be
instrumental in shaping our company.”
“On behalf of the Board and management, I want to thank Dennis
for his dedication and leadership during Sagimet’s transition to a
publicly traded company with late-stage clinical assets,” said
George Kemble, Ph.D., Sagimet’s Executive Chairman of the Board.
“After joining the company in 2015, Dennis served in roles of
increasing responsibility, and has been an influential member of
the management team. He helped build the company by leading four
financings totaling approximately over $200 million and an
out-license in China. I would also like to extend my gratitude to
Drs. Ringold and Young for their decade of leadership and support
as board members.”
Tony Rimac joined Sagimet earlier this year as Chief Operating
Officer and will serve as Chief Financial Officer beginning in
August. He is a seasoned executive with a career spanning three
decades of operating and financial leadership, the majority of
which was dedicated to the life sciences industry. He has a
successful track record creating and implementing infrastructure to
advance development-stage companies to commercially focused
organizations. He is experienced in managing multiple corporate and
administrative functional departments and has led capital raises in
excess of $500 million in private and public equity, debt capital,
and partnership financing throughout his career. Prior to joining
Sagimet, Mr. Rimac served as Chief Financial Officer for Cognoa and
ESCAPE Bio and held Chief Financial Officer and Chief Business
Officer positions at Chrono Therapeutics, Aldea Pharmaceuticals,
Adamas Pharmaceuticals, and Aerovance. He received an MBA from
Santa Clara University and a B.A. from the University of California
at Santa Barbara.
Liz Rozek brings over 20 years of legal experience to
Sagimet. From December 2020 to December 2022, Ms. Rozek served
as general counsel and chief compliance officer of pediatric
behavioral digital health company, Cognoa. From January 2010 to
December 2020, she served in roles of increasing responsibility at
Basilea Pharmaceutica International Ltd., a Swiss-listed
biopharmaceutical company with global operations developing and
commercializing anti-infective and oncology products, where she was
ultimately named General Counsel and Corporate Secretary. From 2001
to 2006, Ms. Rozek served as an U.S. Department of Justice civil
prosecutor on the team that successfully prosecuted the tobacco
industry under RICO. As General Counsel and Chief Compliance
Officer of Sagimet, Ms. Rozek serves as an internal strategic
business partner and leads the legal organization, including
corporate governance, intellectual property and compliance
functions. Ms. Rozek received her J.D. from the University of
California at Berkeley, M.A. from the University of California at
San Diego, and B.A. from Brown University.
About Sagimet Biosciences
Sagimet is a clinical-stage biopharmaceutical company developing
novel therapeutics called fatty acid synthase (FASN) inhibitors
that target dysfunctional metabolic pathways in diseases resulting
from the overproduction of the fatty acid, palmitate. Sagimet’s
lead drug candidate, denifanstat, is an oral, once-daily pill and
selective FASN inhibitor in development for the treatment of
nonalcoholic steatohepatitis (NASH), for which there are no
treatments currently approved in the United States or Europe.
Denifanstat is currently being tested in FASCINATE-2, a Phase 2b
clinical trial in NASH with liver biopsy as the primary endpoint.
For additional information about Sagimet Biosciences, please visit
www.sagimet.com.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties that could cause actual results to
be materially different from historical results or from any future
results expressed or implied by such forward-looking statements.
Such forward-looking statements include statements regarding, among
other things, the efficacy, safety and therapeutic potential of
denifanstat, the future development plans and future performance of
our executive team. Each forward-looking statement is subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in such statement.
Applicable risks also include those identified under the heading
“Risk Factors” in the prospectus dated July 13, 2023 filed with the
Securities and Exchange Commission. These forward-looking
statements speak only as of the date of this press release. Factors
or events that could cause Sagimet’s actual results to differ may
emerge from time to time, and it is not possible for Sagimet to
predict all of them. Sagimet undertakes no obligation to update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
applicable law.
Contact:
Robert UhlManaging Director, ICR
Westwicke858.356.5932robert.uhl@westwicke.com
Sagiment Biosciences (NASDAQ:SGMT)
Historical Stock Chart
From May 2024 to Jun 2024
Sagiment Biosciences (NASDAQ:SGMT)
Historical Stock Chart
From Jun 2023 to Jun 2024