NeuroBo Pharmaceuticals appoints Joseph Hooker Interim Chief Executive Officer & President

Experiential Executive With Over 40 Years of Pharmaceutical, Clinical and Operational Development Experience

BOSTON, Jan. 18, 2023 /PRNewswire/ — NeuroBo Pharmaceuticals, Inc. (Nasdaq – NRBO), a biotechnology company at the clinical stage that focuses on cardiometabolic diseases, announced today that it has hired Joseph Hooker As Interim Chief Executive Officer and as President

The appointment of Mr. Hooker follows Gil Price, M.D.The decision by Dr. Price to retire as President and Chief Operating Officer of NeuroBo. The Board of Directors at NeuroBo plans to begin a search for Dr. Price’s permanent replacement with the help of a top executive search firm.

“We are at an important stage in the evolution of NeuroBo, so we are pleased to have Joe serve as our President and CEO on an interim basis as we conduct a search for our next CEO,” said Andrew I. Koven, Chairman of the NeuroBo Board of Directors. “Joe’s experience and demonstrated leadership are an ideal fit for NeuroBo as we move our newly acquired assets, DA-1241 and DA-1726, into the next stages of clinical development and address the other strategies instrumental to NeuroBo’s success. Joe’s unique combination of business development, clinical, and executive experience, as well his extensive work with many large, emerging biopharmaceutical businesses, is expected to be of great benefit to our company.

“On behalf of NeuroBo Board of Directors I also want Gil to be thanked for his contributions to NeuroBo in a transformative period in NeuroBo’s trajectory. In which we acquired rights to DA-1241, DA-1726 and strengthened our financial position with a successful closing. $32.3 Million Financing in November 2022. Joe’s leadership has given us great confidence in our ability to keep moving forward with our mission, achieving our long-term goals and executing NeuroBo’s strategic priorities,” Mr. Koven said.

Joseph HookerInterim CEO and President – DA-1241 and DA-1726 are moving forward. NeuroBo’s acquisition of these cardiometabolic assets represents a major shift in its business model. It provides NeuroBo with a diverse and highly promising pipeline that has many upcoming value inflection points, particularly in the nonalcoholic steatohepatitis space (NASH), and obesity — areas of huge market opportunity. I look forward working with the Board and NeuroBo’s partner Dong-A ST Co. Ltd. on the development of these assets. NeuroBo, together with type 2 and obesity, has the potential to become a leader for NASH treatment. Therefore, we are preparing for the Phase 2a IND to file DA-1726, an obesity indication.

“Over the past one year, we developed a clear vision. We have laid a solid foundation for NeuroBo’s future. I wish to extend my sincere gratitude to my team, our BOD, and our stockholders for their unwavering support during this exciting time,” said Dr. Price.

Joseph Hooker 

Hooker was an independent consultant who provided advice on an as-needed basis to leading management consultancies and pharmaceutical companies regarding clinical trials, CROs, and program management. Hooker served previously as Sr. director of clinical operations/Program leader rare disease, oncology for X4 Pharmaceuticals, Inc., in which he managed a global team of pre-clinical, development, commercialization, strategic planning, oversight, implementation of clinical operations, and staff management. Hooker previously served as the Director of Program Leadership at Biogen. There he managed clinical development and programs for gene therapy, ALS and ophthalmology. Hooker was also previously Senior Director, Clinical Operation at Pierian Bioscience. He developed and managed clinical operations for an oncology devices program and was Chief Operating Officer for MedAvante ProPhase. He also served as Head, Clinical Operations for Sandoz Biopharmaceuticals division of Novartis. Hooker started his pharmaceutical career at DuPont-Merck Pharmaceuticals as Senior Clinical Lead Manager and Project Leader. He has also served in various roles in clinical trials management at Quintiles (Nova Nordisk), Shire Pharmaceuticals (Cephalon Pharmaceuticals) and Quintiles (Shire). Hooker holds a Bachelor of Arts from the University of Michigan. Rutgers University Get your MBA in the UK Rider University.

About NeuroBo Pharmaceuticals

NeuroBo Pharmaceuticals, Inc., a clinical-stage biotechnology firm, focuses on the development of therapies for cardiometabolic disease. Its primary therapeutics programs are DA-1241 (and DA-1726).  DA-1241, a novel G–Protein-Coupled Receptor 119 agonist, promotes the release key gut peptides GLP-1 and GIP, which in turn play an important role for glucose metabolism, lipid metabolism, and weight loss.  DA-1726 (oxyntomodulin) is a novel analogue of OXM that functions as a glucagon peptide-1 receptor, GLP1R, and glucagon receptor(GCGR), dual agonist. OXM, a 37-amino-acid peptide hormone, is naturally occurring. It is activated by the GLP-1 as well as the glucagon receptors. This can lead to a reduction in food intake and an increase in energy expenditure.

For more information, visit: https://www.neurobopharma.com.

Forward-Looking Statements

All statements made in this release that are not statements of historical truth constitute forward-looking statements according to The Private Securities Litigation Reform Act of 95, as amended, Section 21E of Securities Exchange Act of 1934 as amended. These statements include statements about the development of NeuroBo’s product candidates, the therapeutic potential, the timing and nature clinical trials, and possible regulatory approval of NeuroBo’s clinical programs. Forward-looking statements are identified by words like “believes,”” “anticipates”, “expects,”,” “intends,”,” plans,” may,” “potential,” could,” and similar expressions. Due to numerous important factors and risks, actual results may differ materially. There are many factors that could affect the future, including those associated with NeuroBo’s ability and success in its commercial strategy, NeuroBo’s new interim CEO and president, NeuroBo’s expectations regarding the hiring of a new Chief Executive Officer, NeuroBo’s ability and ability to follow the timeline to regulatory submissions and receive regulatory approvals in relation to the development and sale of NeuroBo’s future product candidates. The cooperation of NeuroBo’s contract manufacturers, clinical research partners and others involved with the development of NeuroBo’s; and effects on the terms; and any future; and the stock price; and any changes to NeuroBo’s stock price; and any changes to NeuroBo’s; and the Annual Report on the Securities and Exchange Commission. March 31, 2022 NeuroBo’s Quarterly Review on Form 10-Q, filed with the Securities and Exchange Commission November 14, 2022. These forward-looking statements are NeuroBo’s current views as of this date. NeuroBo expects that future events and developments may cause its views to shift. NeuroBo could update forward-looking statements in the future. However, NeuroBo expressly disclaims any obligation. These forward-looking statements are not intended to represent NeuroBo’s views at any time after the date hereof.

Contacts

Investors & Media:

Rx Communications Group

Michael Miller
+1-917-633-6086 
[email protected]

 

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SOURCE NeuroBo Pharmaceuticals, Inc.