Matinas BioPharma Appoints Thomas Hoover, M.B.A. as Chief Business Officer
06 December 2021 - 10:30PM
Matinas BioPharma Holdings, Inc. (NYSE AMER: MTNB), a
clinical-stage biopharmaceutical company focused on improving
the intracellular delivery of critical therapeutics through its
paradigm-changing lipid nanocrystal (LNC) platform delivery
technology, today announced the appointment of Thomas Hoover to the
newly created position of Chief Business Officer.
Mr. Hoover’s role will include business and
corporate development, strategic planning, licensing, and alliance
management.
“We are excited to have Thomas join our
executive leadership team in this critical role during this
transformational time for our Company,” commented Jerome D.
Jabbour, Chief Executive Officer of Matinas. “Thomas’ extensive
experience in leading commercial and corporate development
functions will be invaluable as we advance our LNC platform,
evaluate and execute collaborations with third parties, and make
strategic decisions to expand our internal pipeline of LNC-based
therapies.”
Mr. Hoover has nearly 20 years of strategic
biopharmaceutical experience in business and corporate development
roles, as well as new product planning across a wide range of
therapeutic categories including CNS, oncology, cell therapy,
autoimmune diseases, endocrinology and CV/metabolic. Thomas was
most recently Chief Business Officer and Chief Commercial Officer
at Millendo Therapeutics, a publicly traded biotechnology company,
where he led corporate development efforts and defined and executed
commercial strategy. Prior to that role, Mr. Hoover was Vice
President of Corporate Development and New Product Planning for
Sunovion (formerly Sepracor, Inc.). Earlier in his career, Mr.
Hoover held strategy positions of increasing responsibility at
GlaxoSmithKline, and began his pharmaceutical career at The Boston
Consulting Group.
“Matinas’ LNC technology platform has the
potential to redefine the intracellular delivery of a variety of
small and more complex molecules, and I am thrilled to join at such
an exciting moment in the company’s trajectory,” stated Mr. Hoover.
“I look forward to partnering with Jerry and the outstanding
Matinas team with the goal of maximizing and realizing the true
potential of the LNC platform.”
Mr. Hoover holds an M.B.A. from the University
of North Carolina Kenan-Flagler Business School and a B.A. in
Economics from Harvard University.
About Matinas BioPharma
Matinas BioPharma is a biopharmaceutical company
focused on improving the intracellular delivery of critical
therapeutics through its paradigm-changing lipid nanocrystal (LNC)
delivery platform. The Company is developing its own internal
portfolio of products as well as partnering with leading
pharmaceutical companies to develop new formulations that take full
advantage of the unique characteristics of the LNC platform.
Preclinical and clinical data have demonstrated
that this novel technology can provide solutions to many of the
complex challenges in achieving safe and effective intracellular
delivery, for both small molecules and larger, more complex
molecules, such as mRNA, DNA plasmids, antisense oligonucleotides
and vaccines. The combination of a unique mechanism of action and
flexibility in both the formulation and route of administration
(including oral), position Matinas’ LNC technology to potentially
become the preferred next-generation intracellular drug delivery
vehicle and an important improvement over both lipid nanoparticles
and viral vectors.
MAT2203 is an oral, LNC formulation of the
highly effective, but also highly toxic, antifungal medicine
amphotericin B, primarily used as a first-line treatment for
invasive fungal infections. MAT2203 is currently in a Phase 2
open-label, sequential cohort study (EnACT) in HIV-infected
patients with cryptococcal meningitis. Enrollment in Cohort 3 of
EnACT commenced following unanimous approval from the Data and
Safety Monitoring Board (DSMB) and is now fully enrolled. DSMB
evaluation of Cohort 3 data and potential cohort progression is
expected prior to the end of 2021.
MAT2501 is an oral, LNC formulation of the
broad-spectrum aminoglycoside antibiotic amikacin, primarily used
to treat chronic and acute bacterial infections. With the support
of the Cystic Fibrosis Foundation, MAT2501 is currently undergoing
important preclinical studies and commenced a Phase 1 human
clinical trial in the fourth quarter of 2021. MAT2501 would be the
first and only oral aminoglycoside, and is being positioned with an
initial indication for the treatment of nontuberculous
mycobacterial (NTM) lung disease, including infections in patients
with cystic fibrosis.
LYPDISO™, is a prescription-only omega-3 fatty
acid-based composition, comprised primarily of EPA and DPA,
intended for the treatment of cardiovascular and metabolic
conditions. This next-generation omega-3 therapy has been shown in
two head-to-head studies to provide effective triglyceride-lowering
and significantly higher EPA blood levels than Vascepa®. The
Company has initiated a process to identity and potentially secure
a partner to continue development of LYPDISO.
Forward Looking Statements
This release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including those relating to our business
activities, our strategy and plans, the potential of our LNC
platform delivery technology, and the future development of its
product candidates, including MAT2203, MAT2501, the anticipated
timing of regulatory submissions, the anticipated timing of
clinical studies, the anticipated timing of regulatory
interactions, the Company’s ability to identify and pursue
development and partnership opportunities for its products or
platform delivery technology on favorable terms, if at all, and the
ability to obtain required regulatory approval and other statements
that are predictive in nature, that depend upon or refer to future
events or conditions. All statements other than statements of
historical fact are statements that could be forward-looking
statements. Forward-looking statements include words such as
"expects," "anticipates," "intends," "plans," "could," "believes,"
"estimates" and similar expressions. These statements involve known
and unknown risks, uncertainties and other factors which may cause
actual results to be materially different from any future results
expressed or implied by the forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, including, but not limited to, our ability to obtain
additional capital to meet our liquidity needs on acceptable terms,
or at all, including the additional capital which will be necessary
to complete the clinical trials of our product candidates; our
ability to successfully complete research and further development
and commercialization of our product candidates; the uncertainties
inherent in clinical testing; the timing, cost and uncertainty of
obtaining regulatory approvals; our ability to protect the
Company’s intellectual property; the loss of any executive officers
or key personnel or consultants; competition; changes in the
regulatory landscape or the imposition of regulations that affect
the Company’s products; and the other factors listed under "Risk
Factors" in our filings with the SEC, including Forms 10-K, 10-Q
and 8-K. Investors are cautioned not to place undue reliance on
such forward-looking statements, which speak only as of the date of
this release. Except as may be required by law, the Company does
not undertake any obligation to release publicly any revisions to
such forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events. Matinas BioPharma’s product candidates are all in a
development stage and are not available for sale or use.
Investor and Media Contacts
Peter VozzoICR
Westwicke443-213-0505peter.vozzo@westwicke.com Source: Matinas
BioPharma Holdings, Inc.
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