NEW YORK, Dec. 18, 2017 /PRNewswire/ -- Neurotrope, Inc.
(NASDAQ: NTRP), a clinical-stage biopharmaceutical company
developing novel therapies for neurodegenerative diseases,
including Alzheimer's disease (AD), today announced the appointment
of Charles S. Ryan, JD, PhD as Chief
Executive Officer and Director. The appointment follows the
resignation of Susanne Wilke, PhD,
as Chief Executive Officer and Director.
Dr. Ryan becomes a Director of the Company effective immediately
and will assume his responsibilities as CEO effective February 15, 2018.
Dr. Ryan brings with him an extensive background in
pharmaceuticals and biotechnology. Most notably, he served as
Senior Vice President and Chief Intellectual Property Counsel at
Forest Laboratories for more than 10 years, where he managed
several intellectual property estates, including participating in
the development and commercial launch of Namenda®
(memantine HCL), a blockbuster drug for the treatment of AD that
generated peak sales of approximately $1.5
billion in 2014. Dr. Ryan worked closely with the commercial
and development teams as well as experts in the field, establishing
a strong network in the AD space.
"We are excited to have Dr. Ryan join our team. His experience
in late-stage drug development and commercialization in the
Alzheimer's disease space, combined with his track record of
successful strategic transactions, will help guide the further
development of bryostatin for a range of neurodegenerative
disorders," said Joshua Silverman,
Chairman of the Board of Directors at Neurotrope. "We accept the
resignation of Dr. Wilke and thank her for her services to the
Company as Chief Executive Officer and Director. As Chief Executive
Officer, she led the restructuring that established the
foundation on which the Company can build and advance to the
next level. We wish her well in her future endeavors."
"The fundamental science behind Neurotrope's lead drug
candidate, bryostatin, is very solid," said Dr. Ryan. "The
compound's unique mechanism of action represents one of the most
promising therapeutic approaches to not only slow cognitive
decline, but actually improve cognition in patients with advanced
Alzheimer's disease, a patient population that is extremely
difficult to treat. I look forward to working with my new
colleagues at Neurotrope to advance the development of bryostatin
for Alzheimer's disease and other neurodegenerative disorders."
Dr. Ryan is currently President and Chief Executive Officer of
Orthobond Corporation where he is responsible for all aspects of
the company's daily operations and works closely with the Board of
Directors developing the short and long term strategic plans for
the company. Dr. Ryan has negotiated several partnership, financing
and licensing agreements. After leaving Forest Laboratories and
prior to joining Orthobond, Dr. Ryan served as Vice President,
General Counsel for Cold Spring Harbor Laboratory. In this role at
Cold Spring, he provided guidance
on business, legal and public policy issues, including licensing,
patenting, partnerships, alliances, compliance and regulatory
matters. Dr. Ryan currently serves on the Board of two public
companies, Applied DNA Sciences, Inc. and BioRestorative Therapies,
Inc. as well as Orthobond, Inc. He also serves on the Board of
Trustees of The College of Wooster. He
holds a BA in Chemistry from The College of
Wooster, a PhD in Oral Biology and Pathology from
Stony Brook University and a JD
from Western New England
University.
About Neurotrope
Neurotrope is at the forefront of developing a new approach to
combating AD and other neurodegenerative diseases. The Company's
world-class science offers the potential to realize a paradigm
shift to overcome one of today's most challenging clinical problems
— finding a way to slow or even prevent the progression of AD.
In addition to the Company's Phase 2 trial of bryostatin-1 in
advanced AD, Neurotrope has also conducted preclinical studies of
bryostatin as a potential treatment for Fragile X Syndrome,
Niemann-Pick Type C disease and Rett Syndrome—three rare genetic
diseases for which only symptomatic treatments are currently
available. The FDA has granted Orphan Drug Designation to
Neurotrope for Bryostatin-1 as a treatment for Fragile X Syndrome.
Bryostatin-1 has already undergone testing in more than 1,500
people in cancer studies, thus creating a large safety data base
that will further inform clinical trial designs in AD.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking
statements. These forward-looking statements include statements
regarding the continued development of use of Bryostatin-1 for
Alzheimer's dementia and other cognitive diseases. Such
forward-looking statements are subject to risks and uncertainties
and other influences, many of which the Company has no control
over. These statements are subject to the risk that further
analyses of the Phase 2 data may lead to different interpretations
of the data than the analyses conducted to date and/or may identify
important implications of the Phase 2 data that are not reflected
in these statements. Clinical trial data are subject to differing
interpretations, and regulatory agencies, medical and scientific
experts and others may not share the Company's views of the Phase 2
data. There can be no assurance that the clinical program for
Bryostatin-1 will be successful in demonstrating safety and/or
efficacy that we will not encounter problems or delays in clinical
development, or that Bryostatin-1 will ever receive regulatory
approval or be successfully commercialized. Actual results and the
timing of certain events and circumstances may differ materially
from those described by the forward-looking statements as a result
of these risks and uncertainties. Additional factors that may
influence or cause actual results to differ materially from
expected or desired results may include, without limitation, the
Company's inability to obtain adequate financing, the significant
length of time associated with drug development and related
insufficient cash flows and resulting illiquidity, the Company's
patent portfolio, the Company's inability to expand the Company's
business, significant government regulation of pharmaceuticals and
the healthcare industry, lack of product diversification,
availability of the Company's raw materials, existing or increased
competition, stock volatility and illiquidity, and the
Company's failure to implement the Company's business plans or
strategies. These and other factors are identified and described in
more detail in the Company's filings with the SEC, including the
Company's Annual Report on Form 10-K for the year ended
December 31, 2016 and on Form 10-Q
for the quarter ending September 30,
2017. The Company does not undertake to update these
forward-looking statements.
Please visit www.neurotropebioscience.com for further
information.
Contact information:
Investors
Jeffrey Benison, Director of Corporate Communications
Neurotrope Bioscience, Inc.
973.242.0005 Ext. 101
jbenison@neurotropebioscience.com
Media
James Heins
Senior Vice President
ICR Healthcare
203.856.2121
james.heins@icrinc.com
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SOURCE Neurotrope, Inc.