Anebulo Pharmaceuticals Names Biotechnology Industry Executive Simon Allen as CEO and Director
04 January 2022 - 11:00PM
Business Wire
Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB), a clinical-stage
biopharmaceutical company developing novel solutions for people
suffering from acute cannabinoid intoxication and substance abuse,
has named Simon Allen as Chief Executive Officer and a member of
the company’s Board of Directors, effective February 1st, 2022. Mr.
Allen succeeds Daniel Schneeberger, MD, who has resigned as CEO and
as a Director as of that same date.
Since March 2019, Mr. Allen has served as Chief Business Officer
of Ambrx Biopharma Inc. (NYSE: AMAM), a position he previously held
from 2010 through 2015. Ambrx is an engineered precision biologics
company developing antibody-drug conjugate and immune-oncology
conjugate candidates for breast cancer, gastric cancer and other
solid tumors.
“I am so very proud of all Anebulo has achieved over the past 18
months, including building out a highly effective team, securing
new intellectual property protection, preparing and starting a
proof-of-concept clinical trial, advancing regulatory discussions
with the U.S. FDA and securing financing through a successful IPO,”
said Dr. Schneeberger. “Simon is a tremendous leader with
significant commercial and business development experience, which
are the most relevant skills for Anebulo at this stage. Having
taken Anebulo through its start-up phase, I now plan to focus full
time on my investment fund. I thank the Anebulo Board and all its
employees for their collaboration and friendship.”
“Anebulo is ideally positioned to address the significant harm
and burden of substance abuse. Our lead product, ANEB-001, has the
potential to rapidly reverse the effects of acute cannabinoid
intoxication, a relatively unknown yet serious affliction that
sends more than 5,000 Americans to the hospital emergency
department every day. Unfortunately, this number is expected to
increase rapidly with legalized marijuana and access to substances
that have five times the THC concentration of regular marijuana,”
said Mr. Allen. “We are currently focused on developing the first
FDA-approved therapy for emergency department physicians to treat
the serious and sometimes fatal effects of cannabinoid
intoxication. I am very impressed with the clear mechanism of
action of ANEB-001 and the company’s successful efforts to navigate
the clinical, regulatory, CMC and intellectual property aspects of
this opportunity. I also believe 2022 will be another
transformative year for Anebulo given our plans to report topline
results from our ongoing Phase 2 trial in the first half of the
year. I am honored and grateful for the opportunity to lead such a
talented team and look forward to taking Anebulo to the next
level.”
Joseph Lawler, MD, PhD, Chairman of the Anebulo Board of
Directors, added, “Simon is a tremendously accomplished business
executive who brings to Anebulo the skills, experience and
relationships necessary to advance our business plan rapidly and
efficiently. I welcome him to our company and to our Board of
Directors. Also, I would like to thank Daniel for leading Anebulo
through a time of great progress. All of us at Anebulo wish him
well in his future professional endeavors.”
At Ambrx, Mr. Allen established multiple partnerships with
companies including Bristol Myers Squibb, Pfizer, Merck, Eli Lilly,
Astellas, BeiGene and Sino Biopharma that have generated more than
$270 million in revenue with a potential $1 billion in future
milestones and royalties. From 2016 to 2018 he was Chief Executive
Officer of CohBar, where he transitioned the company from the
preclinical to the clinical stage and managed the listing of its
shares on Nasdaq, with subsequent inclusion in the Russell 2000
Index. Earlier Mr. Allen held various management, commercial and
business development positions at Nuvelo, Skyepharma, CovX and
Kalypsys.
Mr. Allen started his career as a research biologist in the
antiviral group at Gilead Sciences before working in healthcare
equity research and investment banking in the U.S. and Australia.
He holds a BSc in biochemistry and genetics from the University of
Sydney and an MBA from the Australian Graduate School of
Management.
About Anebulo Pharmaceuticals, Inc.
Anebulo Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company developing novel solutions for people
suffering from acute cannabinoid intoxication and substance abuse.
Its lead product candidate, ANEB-001, is intended to reverse the
negative effects of acute cannabinoid intoxication within one hour
of administration. ANEB-001 is a competitive antagonist at the
human cannabinoid receptor type 1 (CB1) with good oral
bioavailability and brain penetration (rat brain:plasma ratio of
approximately 1.5). Clinical trials completed to date have shown
that ANEB-001 is rapidly absorbed, well tolerated, and may lead to
weight loss, an effect that is consistent with CB1 antagonism in
the central nervous system. For further information about Anebulo,
please visit www.anebulo.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements, along with terms such as
“anticipate,” “expect,” “intend,” “may,” “will,” “should” and other
comparable terms, involve risks and uncertainties because they
relate to events and depend on circumstances that will occur in the
future. Those statements include statements regarding the intent,
belief or current expectations of Anebulo Pharmaceuticals and
members of its management, as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, including risks
attendant to developing, testing and commercializing the company’s
product candidates, and those described in Anebulo Pharmaceutical’s
most recent annual report on Form 10-K and in other periodic
reports filed with the SEC, and that actual results may differ
materially from those contemplated by such forward-looking
statements. Except as required by federal securities law, Anebulo
Pharmaceuticals undertakes no obligation to update or revise
forward-looking statements to reflect changed conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20220104005296/en/
Anebulo Pharmaceuticals, Inc. Rex Merchant Chief
Financial Officer (512) 598-0931 IR@anebulo.com
LHA Investor Relations Yvonne Briggs (310) 691-7100
ybriggs@lhai.com
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