Neurotrope Announces the Appointment of Two New Board Members
NEW YORK, Dec. 17, 2018 /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 two new members to its Board of Directors - Ivan Gergel, M.D., Managing Partner and Chief Medical Officer of New Rhein Healthcare Investors LLC, and Jonathan Schechter, Director of Investment Banking at Chardan Capital Markets.
"On behalf of Neurotrope and the Board of Directors, I am pleased to welcome Dr. Gergel and Mr. Schechter to the Board," stated Dr. Charles Ryan, Chief Executive Officer of Neurotrope. "Dr. Gergel has an impressive track record of success in advancing the development of numerous drug candidates throughout his career while at Forest Laboratories, with extensive experience in neurology and with Namenda® for Alzheimer's disease in particular. Jonathan Schechter brings decades of legal and financial experience and a deep understanding of Wall Street to our Company."
"Neurotrope is an innovator in the field of neurodegenerative diseases and developmental disorders, with a promising ongoing clinical program in Alzheimer's disease," stated Dr. Gergel. "Bryostatin's neurorestorative potential could transform treatments for a range of diseases, and I look forward to working with the team at this critical time in the Company's evolution."
About Ivan Gergel, M.D.
Dr. Gergel currently serves on the boards of Realm Therapeutics, Inc. and Corium International. He is also a Managing Partner and Chief Medical Officer of New Rhein Healthcare Investors LLC. Previously, Dr. Gergel served as Senior Vice President, Drug Development & Chief Medical Officer of Nektar Therapeutics. During his time at Nektar, Dr. Gergel supervised clinical research, medical affairs, regulatory affairs and drug safety and surveillance. Prior to this role, Dr. Gergel served as Chief Scientific Officer and Executive Vice President, Research & Development of Endo Health Solutions, Inc. where he managed a number of programs including clinical, research, regulatory, project management and medical affairs. His responsibilities were particularly directed towards the late-stage development programs and product approvals. Prior to joining Endo, Dr. Gergel held a number of positions at the Forest Research Institute of Forest Laboratories, Inc. including both Senior Vice President of Scientific Affairs and President. During his tenure at Forest, he successfully led development programs resulting in the approval of numerous NCEs for a range of CNS disorders and other medical conditions, including Namenda® for Alzheimer's disease. Prior to those roles, Dr. Gergel was a senior leader at SmithKline Beecham. Dr. Gergel received his M.D. from The Royal Free Medical School of The University of London and an MBA from the Wharton School of The University of Pennsylvania.
About Jonathan Schechter
Since 2008, Mr. Schechter has been a Director of Investment Banking at Chardan Capital Markets, LLC where he has helped numerous microcap companies with restructuring of their balance sheets, financing needs and M&A opportunities. From 2005 until 2007, Jonathan acted as the General Counsel for a hedge fund that specialized in PIPE transactions and structured products. He also served on the Board of Directors of DropCar, Inc. Prior to these roles, Jonathan worked as a corporate associate for Bryan Cave LLP specializing in representing investors and investment banks in PIPE transactions. He also represented and advised numerous public companies in all aspects of corporate law. Mr. Schechter graduated from Duke University in 1995, cum laude, with an AB in political science and graduated from Fordham Law School with a JD. He is licensed to practice law in the State of New York.
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-1 as a potential treatment for rare diseases and brain injury, including Fragile X syndrome, multiple sclerosis, stroke, Niemann-Pick Type C disease, Rett syndrome, and traumatic brain injury. The FDA has granted Orphan Drug Designation to Neurotrope for Bryostatin-1 as a treatment for Fragile X. 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.
Please visit www.neurotrope.com for further information.
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 Phase 2 study and further studies, and 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. 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, 2017, and on Form 10-Q for the quarter ended September 30, 2018. The Company does not undertake to update these forward-looking statements.
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