HIGH POINT, N.C., March 3, 2022 /PRNewswire/ -- vTv
Therapeutics Inc. (Nasdaq: VTVT) a clinical-stage
biopharmaceutical company focused on the development of orally
administered treatments for type 1 diabetes, today announced that
the Company has appointed Rich
Nelson as Acting Chief Executive Officer. Mr. Nelson joined
the vTv Board of Directors in 2020, and currently serves as
Executive Vice President Corporate & Business Development of
Vericast, and Executive Vice President Corporate Development for
MacAndrews & Forbes. He brings more than 25 years of business
and legal experience in mergers & acquisitions and corporate
development.
Deepa Prasad, who has been
serving as the Company's Chief Executive Officer and a member of
the Board of Directors, has informed the Company that she will be
resigning. Ms. Prasad helped to streamline company operations to
focus on TTP399, its promising, lead drug in development, and will
serve as a Strategic Advisor to the Company for the next
six-months. The Company values Ms. Prasad's experience and
appreciates her willingness to advise Rich
Nelson on the transition.
Mr. Nelson will work closely with the Company's Board of
Directors as vTv continues to progress in the development of its
pipeline of novel therapeutics, particularly TTP339, an orally
administered treatments for diabetes.
"I am dedicated to the long-term growth and development of the
Company and look forward to working with vTv's talented employees,
scientists, and partners during this exciting time," Mr. Nelson
said. The positive Phase 2 study results and FDA Breakthrough
Therapy Designation for TTP339 are very promising milestones in the
development of a novel treatment for such a serious issue impacting
the lives of millions of patients and their families
worldwide."
TTP399 is a novel, oral, liver-selective glucokinase activator
that showed ~40% reduction in hypoglycemic episodes compared to
placebo in its Phase 2 study and was granted Breakthrough Therapy
Designation by the FDA. In October, the Company announced positive
results of its mechanistic study showing no increased risk of
ketoacidosis. Additionally, zero hypoglycemic episodes occurred in
the TTP399 arm while four occurred on placebo. The Company looks
forward to launching pivotal trials in 2022.
About vTv Therapeutics
vTv Therapeutics Inc. is a clinical-stage biopharmaceutical
company focused on developing oral, small molecule drug candidates.
vTv has a pipeline of clinical drug candidates led by programs for
the treatment of type 1 diabetes and psoriasis. vTv's development
partners are pursuing additional indications in type 2 diabetes,
chronic obstructive pulmonary disease, renal disease, primary
mitochondrial myopathy, and pancreatic cancer. For more
information, please visit www.vtvtherapeutics.com or
follow us on Twitter: @vTvTherapeutics.
Forward-Looking Statements
This release contains forward-looking statements, which involve
risks and uncertainties. These forward-looking statements can be
identified by the use of forward-looking terminology, including the
terms "anticipate," "believe," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," "target," "will," "would" and, in each case, their
negative or other various or comparable terminology. All statements
other than statements of historical facts contained in this
release, including statements regarding the timing of our clinical
trials, our strategy, future operations, future financial position,
future revenue, projected costs, prospects, plans, objectives of
management and expected market growth are forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other important factors that may cause our actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Important factors that
could cause our results to vary from expectations include those
described under the heading "Risk Factors" in our Annual Report on
Form 10-K and our other filings with the SEC. These
forward-looking statements reflect our views with respect to future
events as of the date of this release and are based on assumptions
and subject to risks and uncertainties. Given these uncertainties,
you should not place undue reliance on these forward-looking
statements. These forward-looking statements represent our
estimates and assumptions only as of the date of this release and,
except as required by law, we undertake no obligation to update or
review publicly any forward-looking statements, whether as a result
of new information, future events or otherwise after the date of
this release. We anticipate that subsequent events and developments
will cause our views to change. Our forward-looking statements do
not reflect the potential impact of any future acquisitions,
merger, dispositions, joint ventures or investments we may
undertake. We qualify all of our forward-looking statements by
these cautionary statements.
MEDIA CONTACT: PR@vtvtherapeutics.com
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SOURCE vTv Therapeutics Inc.