PaxMedica Appoints David Hough M.D. as Chief Medical Officer
16 8월 2023 - 9:30PM
via NewMediaWire – PaxMedica, Inc. (Nasdaq: PXMD), a clinical stage
biopharmaceutical company focusing on the development of novel
anti-purinergic drug therapies (APT) for the treatment of Autism
Spectrum Disorder (ASD) and other serious conditions with
intractable neurologic symptoms, today announced the return of
David Hough, M.D., as Chief Medical Officer (CMO) of PaxMedica,
effective immediately. Dr. Hough has been a key
consultant to the company during 2023 and was the company’s CMO
from 2020-2022. He is board-certified in both adult and geriatric
psychiatry. He succeeds Stefan Schwabe M.D., PhD, who will
continue to serve on the PaxMedica Scientific Advisory Board.
PaxMedica also announced additional changes to the management
team and Board of Directors, all effective as of August 21,
2023. Michael Derby and Zachary Rome, Chairman of the Board
and Chief Operating Officer, respectively, and co-founders of the
company in 2018, will be relinquishing their operational roles on
the management team in order to focus on their full-time
responsibilities at Tardimed Sciences. Mr. Rome will remain
on the Board of Directors. Mr. Derby will remain as a consultant to
PaxMedica.
Howard Weisman, Chief Executive Officer of PaxMedica, has been
appointed to the additional position of Chairman of the Board of
Directors. Stephen Sheldon has been appointed to the role of Chief
Operating Officer in addition to his position as Chief Financial
Officer. Charles Casamento has been elected as Lead Independent
Director of the Board of Directors.
Lead Independent Director, Charles Casamento, said, “We are
grateful for the vision and leadership that Michael and Zach have
shown since the inception of PaxMedica. Their determination
and strategic approach in the formation of PaxMedica and the
advancement of PAX-101 (IV suramin) towards its goal of becoming
the first drug to treat the core symptoms of autism formed the
bedrock of the company’s growth plans. We look forward to
their future contributions to our success.”
“We are excited to have Dr. Hough rejoin us at this all
important juncture. His extensive experience in drug
development and neurological conditions has been a tremendous asset
for us, as we advance our portfolio of product candidates for the
treatment of intractable neurologic symptoms, and we look forward
to his continued, significant contributions. We are delighted
to welcome him back to PaxMedica as Chief Medical Officer,” added
Howard Weisman, PaxMedica’s Chairman and CEO.
Mr. Weisman continued, “I would also like to thank Dr. Schwabe
for his contribution to PaxMedica over this past critical year as a
newly public company. He has been instrumental in focusing our
efforts as we work to develop innovative treatments to meet unmet
needs in neurodevelopmental disorders and will remain a valued
advisor to PaxMedica.”
Dr. Hough is a neuroscience clinical development consultant who
previously served as Vice President at Janssen Research and
Development (a Johnson & Johnson company) and in various
leadership roles over a 17-year span. Most recently, Dr. Hough was
the compound development team leader for SPRAVATO® for
treatment-resistant depression, overseeing the development program
through two severe mood disorders indications. He was responsible
for medical, scientific, manufacturing, quality, preclinical, and
commercial aspects of the program. Prior to that he was the
schizophrenia disease area leader and the development team leader
for paliperidone. Dr. Hough played a pivotal role in the
development programs for oral INVEGA®, INVEGA SUSTENNA® and
XEPLION® for schizophrenia. Dr. Hough is a graduate of West Point
and board certified in psychiatry.
About PaxMedica
PaxMedica is a clinical stage biopharmaceutical company focusing
on the development of anti-purinergic drug therapies (“APT”) for
the treatment of disorders with intractable neurologic symptoms,
ranging from neurodevelopmental disorders, including Autism
Spectrum Disorder (“ASD”), to Myalgic Encephalomyelitis/Chronic
Fatigue Syndrome (“ME/CFS”), a debilitating physical and cognitive
disorder. One of PaxMedica’s primary points of focus is the
development and testing of its lead program, PAX-101, an
intravenous formulation of suramin, in the treatment of ASD and the
advancing the clinical understanding of using that agent against
other disorders such as ME/CFS. For more information, visit
www.paxmedica.com.
Forward-Looking Statements
This press release contains “forward-looking statements.”
Forward-looking statements reflect our current view about future
events. Investors can identify these forward-looking statements by
words or phrases such as “may,” “will,” “could,” “expect,”
“anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“is/are likely to,” “propose,” “potential,” “continue” or similar
expressions. These forward-looking statements include our
anticipated clinical program, the timing and success of our
anticipated data announcements, pre-clinical and clinical trials
and regulatory filings, statements about the strength of our
balance sheet. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company’s
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Such risks and
uncertainties include, but are not limited to, risks associated
with the Company’s development work, including any delays or
changes to the timing, cost and success of the Company’s product
development and clinical trials, risk of insufficient capital
resources, cash funding and cash burn and risks associated with
intellectual property and infringement claims. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results described in the Company’s “Risk Factors” section
and other sections in its most recent Annual Report on Form 10-K,
and subsequent quarterly and other filings with the U.S. Securities
and Exchange Commission.
Contactsir@paxmedica.com
Stephanie Prince PCG Advisory sprince@pcgadvisory.com (646)
863-6341
PaxMedica (NASDAQ:PXMD)
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