TEL-AVIV, Israel, March 29, 2021 /PRNewswire/ -- Chemomab
Therapeutics, Ltd. (Nasdaq: CMMB), a clinical-stage biotech company
focused on the discovery and development of innovative therapeutics
for fibrosis-related diseases with high unmet need, today announced
the appointment of Dr. Alan Moses,
Dr. Claude Nicaise, Mr. Joel Maryles, and Mr. Neil Cohen to Chemomab's Board of Directors. Dr.
Stephen Squinto will remain Chairman
of Chemomab's Board. Dr. Adi Mor and
Dr. Nissim Darvish will also
continue in their prior role as Directors, where Dr. Darvish will
serve as Chair of the Compensation Committee.
Chemomab also closed its previously announced private investment
in public equity (PIPE) and received gross proceeds of $45.5 million. Following the closing of the PIPE,
approximately 11.9 million American Depositary Shares (ADSs) of the
Company are outstanding on a fully diluted basis.
"We are thrilled to welcome Alan, Claude, Joel and Neil to our
Board of Directors at this important time," said Dr. Stephen Squinto, Chairman of Chemomab's Board of
Directors. "The addition of these industry experts and experienced
directors contributes meaningfully to our Board's clinical and
regulatory expertise as we advance our proof-of-concept trials in
rare fibrotic diseases. We are confident they will provide valuable
perspectives and contributions and look forward to their guidance
to help grow our company as our pipeline advances towards potential
registration and commercialization" he said.
About Dr. Alan Moses
Dr. Moses joined the Chemomab Board of Directors as an
Independent Director and member of the Audit Committee. He has
spent 14 years at Novo Nordisk where he held multiple roles and
rose to the position of Senior Vice President and Global Chief
Medical Officer where he was involved in Diabetes drug discovery,
drug development and brand messaging. Dr. Moses was co-founder and
co-director of the Clinical Investigator Training Program at Beth
Israel Deaconess-Harvard Medical School-MIT and served as Senior
Vice President and Chief Medical Officer of the Joslin Diabetes
Center in Boston and was appointed
Professor of Medicine at Harvard Medical
School.
About Dr. Claude
Nicaise
Dr. Nicaise joined the Chemomab Board of Directors as an
Independent Director and member of the Audit Committee. Dr.
Nicaise was a Senior Vice President of Strategic Development and
Global Regulatory Affairs at Alexion Pharmaceuticals where he
helped manage all regulatory activities and development programs in
rare diseases. He also spent 21 years at Bristol-Myers Squibb
where he served in various positions of increasing responsibility,
including senior positions such as Vice President of Global
Development, Vice-President of Worldwide Regulatory Science and
Strategy, and leadership positions in Oncology, Infectious Disease,
and Neuroscience development. Dr. Nicaise is a board member
in several public and private companies.
About Mr. Joel Maryles
Mr. Maryles joined the Chemomab Board of Directors as an
Independent Director, Chair of the Audit Committee, and member of
the Corporate Governance Committee. He has held numerous senior
positions on Wall Street over the past three decades as an
investment banker, venture capitalist, money manager and sell-side
analyst. Mr. Maryles was a Partner at OurCrowd and portfolio
manager of T-Cubed Investments LP, an equity hedge fund that he
founded. Prior to that, he spent 10 years at Citigroup Investment
Banking where he was a Managing Director. In addition to his role
as a senior technology banker, he founded and managed the Israeli
investment banking operations for Citigroup/Salomon Smith Barney. Previously, Mr. Maryles
held various senior positions at Furman Selz, a U.S.-based
investment bank, including Managing Director focused on Israeli
technology and healthcare transactions and was an Investment
Officer at First Chicago Investment Advisors.
About Mr. Neil Cohen
Mr. Cohen, the former interim CEO of Anchiano Therapeutics,
joined the Chemomab Board of Directors as a Director, Chair of the
Corporate Governance Committee and member of the Compensation
Committee. He has served as the Chairman and Chief Executive
Officer of Castel Partners Ltd. since January 2012. Mr. Cohen co-founded Israel Seed
Partners, a leading venture capital firm, and managed it for 25
years. Mr. Cohen has invested in and served on the boards of
directors of many private technology companies, including a large
number which were acquired or completed successful initial public
offerings. He is a venture partner at SKY, an Israeli middle-market
private equity firm, at Hetz Ventures Management Ltd., an
early-stage Israeli venture capital fund, and Shavit Capital. Mr.
Cohen was previously the Business Editor of The Jerusalem Post and
began his career in the Rothschild Bioscience Unit of N M
Rothschild & Sons Limited in London.
About Chemomab Therapeutics Ltd.
Chemomab is a clinical-stage biotech company focusing on
the discovery and development of innovative therapeutics for
fibrosis-related diseases with high unmet need. Based on the unique
and pivotal role of the soluble protein CCL24 in promoting fibrosis
and inflammation, Chemomab developed CM-101, a monoclonal antibody
designed to bind and block CCL24 activity. CM-101 has potential to
treat multiple severe and life-threatening inflammatory and
fibrotic diseases and is currently undergoing clinical development
with primary focus for the orphan diseases, Primary Sclerosing
Cholangitis (PSC) and Systemic Sclerosis (SSc). Chemomab is
advancing in parallel three Phase 2 clinical trials with CM-101 in
fibrotic indications and expecting to report data during
2021-2022. For more information on Chemomab, please
visit www.chemomab.com.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act. These
forward-looking statements include, among other things, statements
regarding the clinical development pathway for CM-101; the future
operations of Chemomab and its ability to successfully initiate and
complete clinical trials and achieve regulatory milestones; the
nature, strategy and focus of Chemomab; the development and
commercial potential and potential benefits of any product
candidates of Chemomab; and that the product candidates have the
potential to address high unmet needs of patients with serious
fibrosis-related diseases and conditions. Any statements contained
in this communication that are not statements of historical fact
may be deemed to be forward-looking statements. These
forward-looking statements are based upon Chemomab's current
expectations. Forward-looking statements involve risks and
uncertainties.
Because such statements deal with future events and are based on
Chemomab's current expectations, they are subject to various risks
and uncertainties and actual results, performance or achievements
of Chemomab could differ materially from those described in or
implied by the statements in this presentation, including: the
uncertain and time-consuming regulatory approval process; risks
related to Chemomab's ability to correctly manage its operating
expenses and its expenses; Chemomab's plans to develop and
commercialize its product candidates, focusing on CM-101; the
timing of initiation of Chemomab's planned clinical trials; the
timing of the availability of data from Chemomab's clinical trials;
the timing of any planned investigational new drug application or
new drug application; Chemomab's plans to research, develop and
commercialize its current and future product candidates; the
clinical utility, potential benefits and market acceptance of
Chemomab's product candidates; Chemomab's commercialization,
marketing and manufacturing capabilities and strategy; Chemomab's
ability to protect its intellectual property position; and the
requirement for additional capital to continue to advance these
product candidates, which may not be available on favorable terms
or at all. Additional risks and uncertainties relating to
Chemomab's and its business can be found under the caption "Risk
Factors" and elsewhere in Chemomab's filings and reports with the
SEC. Chemomab expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Chemomab's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are
based.
Contact:
Investor Relations:
Irina Koffler
LifeSci Advisors, LLC
Phone: +1-917-734-7387
ir@chemomab.com
Chemomab Therapeutics:
Sharon Elkobi
VP, Business Development
Phone: +972773310156
bd@chemomab.com
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SOURCE ChemomAb Ltd.