Menlo Park, California – March 8, 2016 - CohBar, Inc. (OTCQX: CWBR and TSXV: COB.U), an innovative biotechnology company focused on developing mitochondria-based therapeutics (MBTs) to treat diseases associated with aging, today reported that Simon Allen has been appointed as the company's Chief Executive Officer. Mr. Allen brings to CohBar more than 20 years of industry experience and success both as a scientist and a business executive. Former CohBar CEO Jon Stern has assumed a new role going forward as the company's Chief Operating Officer.
"We've demonstrated significant progress in developing our science and our underlying business foundation under Jon Stern's direction over the past three years," said Albion Fitzgerald, CohBar Chairman. "Going forward, Simon's extensive experience and proven leadership in synergizing science and business for development-stage biotech companies will enable us to make even greater progress toward our strategic goals of industry and investment community recognition of CohBar's unique therapeutic platform. We greatly appreciate Jon's contributions, and look forward to continuing growth and increasing success with Simon leading the expanding CohBar team."
"Effectively treating age-related disease is critical to improving and extending our quality of life," said Mr. Allen. "I'm very excited to join the CohBar team and strengthen our leadership role in the research and development of mitochondria-based therapeutics for metabolic, cardiovascular, cancer and neurodegenerative diseases. Advancing our lead program to clinical trials will be an important milestone in demonstrating the full potential of our technology and delivering significant shareholder value."
Prior to joining CohBar, Mr. Allen was a consultant to Solstice Biologics, after spending nearly five years as Chief Business Officer of Ambrx Inc. During his tenure at Ambrx, he established collaborations with Bristol-Myers Squibb, Merck, Astellas, Eli Lilly, Zhejiang Medicine and Zhejiang Hisun Pharmaceutical that realized over $120 million in non-dilutive funding and $1.5 billion in potential milestone payments. Prior to Ambrx, Mr. Allen was CEO of Kalypsys Inc., and Chief Commercial Officer of CovX Inc. (acquired by Pfizer). In the past, Mr. Allen has held business development positions at Nuvelo, Inc., SkyePharma PLC, and Corixa Corporation, and worked as a healthcare equities analyst at Burdett, Buckeridge & Young. Mr. Allen began his career as a Research Biologist at Gilead Sciences. He holds a B.Sc. degree in biochemistry and genetics from the University of Sydney and an M.B.A. from the Australian Graduate School of Management.
About CohBar
CohBar (OTCQX: CWBR and TSXV: COB.U) is a leader in the research and development of mitochondria-based therapeutics, an emerging class of drugs for the treatment of diseases associated with aging. MBTs originate from the discovery of a novel group of peptides within the genome of mitochondria, the powerhouses of the cell. This groundbreaking discovery was made by our founders, world leaders in the biology of aging, metabolism and mitochondrial genomics. MBTs offer the potential to address a broad range of diseases such as type 2 diabetes, cancer, atherosclerosis and neurodegenerative disorders.
For additional company information, please visit www.cohbar.com.
Forward-looking statements
This news release contains forward-looking statements, including: statements concerning: the company's plans, prospects, resources and capabilities including statements regarding its research and development activities, progress towards clinical trials, and potential therapeutic applications. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by CohBar. These risks and uncertainties include CohBar's ability to retain key personnel, expand its research operations, and successfully advance its drug discovery and development programs. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission and applicable Canadian securities regulators, which are available on our website, and at www.sec.gov or www.sedar.com. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. The forward-looking statements and other information contained in this news release are made as of the date hereof and CohBar does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Jeff Biunno, CFO
CohBar, Inc.
(973) 841-1233
[email protected]
Heather Savelle
MacDougall Biomedical Communications
(781) 235-3060
[email protected]