PLANTATION, Fla., June 4, 2014 /PRNewswire/ -- Neurotrope, Inc. (OTCQB: NTRP) announced today the appointment of Sam Kongsamut, Ph.D., as Executive Director, Pharmacology, effective immediately. In this role, Dr. Kongsamut will be responsible for accelerating the Company's product development efforts. Dr. Kongsamut is a neuroscientist with a specialized background in preclinical models used in identifying early stage drug leads.
"With his vast experience in neurodegenerative diseases, we expect Sam to be a great asset to Neurotrope as we advance our clinical studies," stated Dr. James New, the Company's President and Chief Executive Officer. "Specifically, Sam's skill base will significantly enhance the Company's goals of commercializing our technologies relating to the diagnostic and therapeutic products focused on Alzheimer's Disease along with our current efforts exploring therapeutic products for other neurodegenerative diseases such as Fragile X. I believe we have added a key element to our well-rounded and experienced management team."
Dr. Kongsamut joins Neurotrope with more than 20 years of experience in pharmaceutical R&D and business development at world-class companies such as Hoechst-Roussel Pharmaceuticals Inc., Hoechst Marion Roussel, Aventis, sanofi-aventis, now Sanofi. In 2012, Dr. Kongsamut founded Rudder Serendip LLC, a consulting practice that serves clients at universities, foundations and biotechnology companies, principally advising clients on R&D plans and business development matters. Prior to 2012, he was Director of External Innovation at sanofi-aventis, using his experience to identify opportunities for collaboration and licensing for broad therapeutic interests within the Aging Unit and the CNS Therapeutic Department. In addition, Dr. Kongsamut managed various-sized groups of scientists in biochemical pharmacology that served multiple project teams in the neuroscience area, and was a member of the CNS Board that managed the CNS project portfolio.
Dr. Kongsamut managed and worked on a variety of multi-disciplinary drug discovery and development projects covering a range of technologies and therapeutic indications in neuroscience and aging including, but not limited to: Alzheimer's Disease, Parkinson's Disease, stroke, Obsessive Compulsive Disorder, anxiety-depression, schizophrenia, and spinal cord injury. Within those areas, he helped translate animal pharmacology to human pharmacology, including being involved with two marketed drugs that are currently used to treat patients.
Dr. Kongsanut obtained a PhD at the University of Chicago and had postdoctoral training at Cornell and Yale Universities.
Dr. Kongsamut stated, "I am very pleased to join this experienced management team. I look forward to assisting the Company with its efforts to commercialize its promising technologies relating to helping patients who suffer from certain neurodegenerative diseases. I believe I bring a unique and complementary skill set to the management team which should accelerate achieving the Company's goals and objectives."
Neurotrope was formed in October 2012 to develop and market two product platforms: a drug candidate called bryostatin for the treatment of Alzheimer's Disease, and; a minimally invasive biomarker analysis system for the diagnosis of this disease. A Phase 2a study with bryostatin in the treatment of Alzheimer's Disease is scheduled to commence in June 2014. Both of these programs are being progressed in collaboration with Blanchette Rockefeller Neurosciences Institute ("BRNI"), which has licensed this technology to Neurotrope. The Company is also leveraging several other of BRNI's proprietary research advances towards the near-term initiation of new clinical studies looking at other high value central nervous system targets that present neurodegeneration as a core part of their pathology. Both the preclinical and clinical efforts of Neurotrope are focused on the development of conventional small molecules that are extraordinarily potent in the activation of the enzyme PKCepsilon, which has been shown to play a central role in orchestrating the expression of a number of neurotrophic proteins that aid the process of neuroregeneration. More technical information on this promising approach to treat a variety of neurodegenerative diseases can be found on the Company's website.
Please visit www.neurotropebioscience.com for further information.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the development of commercially viable pharmaceuticals, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. 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. Factors that may influence or contribute to the inaccuracy of the forward-looking statements 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 inability to expand the Company's business, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, volatility in the price of the Company's raw materials, existing or increased competition, results of arbitration and litigation, 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 fiscal year ended December 31, 2013 and Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2014. The Company does not undertake to update these forward-looking statements.
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