Yumanity Therapeutics (NASDAQ: YMTX), a clinical-stage
biopharmaceutical company focused on the discovery and development
of innovative, disease-modifying therapies for neurodegenerative
diseases, today announced the appointment of Michael D. Wyzga as
Senior Vice President, Chief Financial Officer.
“Michael’s financial expertise combined with his proven ability
to execute strategic and operational objectives will be invaluable
to the Company,” said Richard Peters, M.D., Ph.D., President, Chief
Executive Officer and Director of Yumanity Therapeutics. “We are
looking forward to Michael’s contributions as we continue to pursue
our vision of a future free from neurodegenerative disease.”
Mr. Wyzga has more than a decade of experience in healthcare
finance. He joins the Company after eight years at Needham &
Company, a privately held, full-service investment bank that
focuses exclusively on growth companies, where he served as Vice
President in the Healthcare Investment Banking group. While at
Needham, Mr. Wyzga provided strategic and financial advice to
clients across the life sciences sector and executed numerous
initial public offerings, follow-on offerings, private placements,
M&A and other transactions. Prior to this role, Mr. Wyzga was
part of the Healthcare Corporate and Investment Banking group at
Citigroup. Mr. Wyzga earned his B.A. in Finance from Lehigh
University and an M.B.A. from the S.C. Johnson School of Business
at Cornell University.
“Joining Yumanity provides the opportunity to be part of a
company that has the potential to truly address the challenges of
neurodegenerative diseases,” said Mr. Wyzga. “I am looking forward
to working with the exceptional team at Yumanity as we approach a
key development milestone for our lead program YTX-7739 and advance
our pipeline.”
Inducement Equity AwardsIn connection with Mr.
Wyzga’s acceptance of employment with the company, effective on the
first day of Mr. Wyzga’s employment, Mr. Wyzga will be granted an
option to purchase 65,000 shares of common stock which will vest
over four years, with 25 percent of the shares vesting on the first
anniversary of Mr. Wyzga’s new hire date and the remainder vesting
in equal monthly installments over the following three years. The
options will have an exercise price equal to the closing price of
Yumanity Therapeutics’ common stock on the grant date of the stock
options, will have a ten-year term and will be subject to the terms
and conditions of the Yumanity Therapeutics, Inc. 2021
Inducement Plan and the terms and conditions of a stock option
agreement covering the grant. The options will be granted as
inducements material to Mr. Wyzga entering into employment
with Yumanity Therapeutics in accordance with Nasdaq
Listing Rule 5635(c)(4).
In addition, Yumanity today announced the grant to two new
employees of non-statutory stock options for the purchase of an
aggregate of 14,000 shares of Yumanity’s common stock. The options
will vest over four years, with 25 percent of the shares vesting on
the first anniversary of the employee’s new hire date and the
remainder vesting in equal monthly installments over the following
three years. The options have an exercise price of $9.80 per share,
which is equal to the closing price of Yumanity’s common stock on
August 2, 2021, the grant date for the stock options, have a
ten-year term and will be subject to the terms and conditions of
the Yumanity Therapeutics, Inc. 2021 Inducement Plan and
the terms and conditions of a stock option agreement covering the
grant. The options were granted as inducements material to the
employees entering into employment with Yumanity
Therapeutics in accordance with Nasdaq Listing Rule
5635(c)(4).
About Yumanity TherapeuticsYumanity
Therapeutics is a clinical-stage biopharmaceutical company
dedicated to accelerating the revolution in the treatment of
neurodegenerative diseases through its scientific foundation and
drug discovery platform. The Company’s most advanced product
candidate, YTX-7739, is currently in Phase 1 clinical development
for Parkinson’s disease. Yumanity’s drug discovery platform is
designed to enable the Company to rapidly screen for potential
disease-modifying therapies by overcoming toxicity of misfolded
proteins in neurodegenerative diseases. Yumanity’s pipeline
consists of additional programs focused on Lewy body dementia,
multi-system atrophy, amyotrophic lateral sclerosis (ALS or Lou
Gehrig’s disease), frontotemporal lobar dementia (FTLD), and
Alzheimer’s disease. For more information, please visit
www.yumanity.com.
Forward-Looking StatementsThis press release
contains forward-looking statements, including statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements may be identified
by words and phrases such as “aims,” “anticipates,” “believes,”
“could,” “designed to,” “estimates,” “expects,” “forecasts,”
“goal,” “intends,” “may,” “plans,” “possible,” “potential,”
“seeks,” “will,” and variations of these words and phrases or
similar expressions that are intended to identify forward-looking
statements. These forward-looking statements include, without
limitation, statements regarding the potential therapeutic benefits
of our prospective product candidates and results of preclinical
studies, including YTX-7739, and the design, commencement,
enrollment, and timing of ongoing or planned clinical trials,
clinical trial results, product approvals and regulatory pathways,
and the anticipated benefits of our drug discovery platform. Any
such statements in this press release that are not statements of
historical fact may be deemed to be forward-looking statements.
Results in preclinical or early-stage clinical trials may not be
indicative of results from later stage or larger scale clinical
trials and do not ensure regulatory approval. You should not place
undue reliance on these statements, or the scientific data
presented.
Any forward-looking statements in this press release are based
on Yumanity Therapeutics’ current expectations, estimates and
projections about our industry as well as management’s current
beliefs and expectations of future events only as of today and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially and adversely from those set
forth in or implied by such forward-looking statements. These risks
and uncertainties include, but are not limited to, the risk that
any one or more of our product candidates will not be successfully
developed or commercialized, the risk of cessation or delay of any
ongoing or planned clinical trials of Yumanity Therapeutics or our
collaborators, the risk that Yumanity Therapeutics may not
successfully recruit or enroll a sufficient number of patients for
our clinical trials, the risk that Yumanity Therapeutics may not
realize the intended benefits of its drug discovery platform, the
risk that our product candidates will not have the safety or
efficacy profile that we anticipate, the risk that prior results,
such as signals of safety, activity or durability of effect,
observed from preclinical or clinical trials, will not be
replicated or will not continue in ongoing or future studies or
trials involving Yumanity Therapeutics’ product candidates, the
risk that we will be unable to obtain and maintain regulatory
approval for our product candidates, the risk that the size and
growth potential of the market for our product candidates will not
materialize as expected, risks associated with our dependence on
third-party suppliers and manufacturers, risks regarding the
accuracy of our estimates of expenses and future revenue, risks
relating to our capital requirements and needs for additional
financing, risks relating to clinical trial and business
interruptions resulting from the COVID-19 outbreak or similar
public health crises, including that such interruptions may
materially delay our enrollment and development timelines and/or
increase our development costs or that data collection efforts may
be impaired or otherwise impacted by such crises, and risks
relating to our ability to obtain and maintain intellectual
property protection for our product candidates. For a discussion of
these and other risks and uncertainties, and other important
factors, any of which could cause Yumanity Therapeutics’ actual
results to differ materially and adversely from those contained in
the forward-looking statements, see the section entitled “Risk
Factors” in Yumanity Therapeutics’ most recent Annual or Quarterly
Report, and other important factors in Yumanity Therapeutics’
subsequent filings with the Securities and Exchange
Commission. Yumanity Therapeutics explicitly disclaims any
obligation to update any forward-looking statements except to the
extent required by law.
Investors:Burns McClellan, Inc.Lee
Rothlroth@burnsmc.com (212) 213-0006, ext. 331
Media:Burns McClellan, Inc.Robert Flamm, Ph.D.
/ Harrison Wongrflamm@burnsmc.com / hwong@burnsmc.com (212)
213-0006, ext. 364 / 316
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