Michael Schmertzler Joins the Board of ViralClear Pharmaceuticals, a Majority-Owned Subsidiary of BioSig Technologies, Inc.
May 07 2020 - 3:17PM
BioSig Technologies, Inc. (NASDAQ: BSGM) (“BioSig” or the
“Company”) today appointed Mr. Michael Schmertzler to the Board of
Directors of its majority-owned subsidiary ViralClear
Pharmaceuticals, Inc.
Mr. Schmertzler has been the Chairman of the board of directors
of PTC Therapeutics, Inc. since 2004, where he was a founding
institutional investor. He has been actively involved in
biotechnology as an investor and investment banker since founding
Morgan Stanley’s biotechnology industry practice in 1989. He is
also now a director of privately held SHY Therapeutics and
previously served as CEO of a Yale University biotechnology
spin-off and as a director of Cytokinetics and Idenix.
Mr. Schmertzler is currently the independent director of Lehman
Commercial Paper, Inc., the largest subsidiary of the liquidating
post-bankruptcy Lehman Brothers estate. Since 1998, he has also
taught private equity courses at Yale University. Previously he was
the President of the Morgan Stanley Leveraged Capital Funds and
later Co-Head of Credit Suisse First Boston Equity Partners. Mr.
Schmertzler has also been a Managing Director in the Mergers and
Acquisitions Department of Morgan Stanley and headed its global
insurance industry practice. He was head of international
investment banking and capital markets of Shearson Lehman Brothers
and, prior to its acquisition in 1984 by American Express, was the
Chief Financial Officer and an investment banker at Lehman
Brothers.
In addition to his biotechnology board positions, Mr.
Schmertzler has served as a director or lead investor at Cain
Chemical, Colt Industries, Segway and other industrial and
technology companies. Mr. Schmertzler received a B.A. from Yale
College in Molecular Biophysics and Biochemistry, History, and City
Planning, and an M.B.A. from the Harvard Business School.
“Michael’s experience in leading early stage biotech companies
makes him uniquely qualified to join our Board. We look forward to
learning from Michael as we progress towards our mission to bring
an effective anti-viral therapy to patients,” commented Jerome
Zeldis, M.D., Ph.D, Executive Chair of ViralClear Pharmaceuticals,
Inc. Mr. Schmertler joins the former Chief Medical Officer of
Celgene Jerome Zeldis, M.D., Ph.D, Nick Spring, CEO of ViralClear
and a former senior executive at Merck & Co., Anthony Zook,
former senior executive at Astra Zeneca, Plc and Dennis Purcell,
the founder of Aisling Capital on the Board of ViralClear.
“I am very pleased to have the opportunity to contribute to the
development of this young anti-viral company. The merimepodib
findings to date are compelling, and I look forward to working with
the ViralClear team at such a pivotal time for the global
community,” commented Mr. Schmertzler.
About merimepodibAnti-viral candidate
merimepodib (MMPD) targets RNA-dependant polymerases. The molecule
has shown activity against a broad spectrum of RNA viruses and has
demonstrated satisfactory safety data from over 300 patients
treated for hepatitis C. Recently, the Company published first
pre-clinical data generated under contract with Galveston National
Laboratory at The University of Texas Medical Branch. The Company
recently submitted two manuscripts titled“The IMPDH inhibitor
merimepodib provided in combination with the adenosine analogue
remdesivir reduces SARS-CoV-2 replication to undetectable levels in
vitro” and “The IMPDH inhibitor merimepodib suppresses SARS-COV-2
replications”. The manuscripts were authored by Natalya Bukreyeva,
Emily K. Mantlo, Rachel A. Sattler, Cheng Huang, John T. Manning,
Slobodan Paessler, DVM, Ph.D of the UTMB Galveston National
Laboratory and Jerome Zeldis, M.D., Ph.D of ViralClear. In-vitro
studies referenced in the manuscript demonstrated that merimepodib
decreased viral production by over 98%. About BioSig
Technologies BioSig Technologies is a medical technology
company commercializing a proprietary biomedical signal processing
platform designed to improve signal fidelity and uncover the full
range of ECG and intra-cardiac signals (www.biosig.com).
The Company’s first product, PURE EP(tm) System is a
computerized system intended for acquiring, digitizing, amplifying,
filtering, measuring and calculating, displaying, recording and
storing of electrocardiographic and intracardiac signals for
patients undergoing electrophysiology (EP) procedures in an EP
laboratory.
About ViralClearBioSig’s subsidiary ViralClear
Pharmaceuticals, Inc., is seeking to develop a novel pharmaceutical
to treat COVID-19. Merimepodib is intended to be an orally
administered, broad-spectrum anti-viral agent that has demonstrated
strong activity against COVID-19 in cell cultures in laboratory
testing. The product candidate has completed Phase I and three
Phase II trials in other indications.
Forward-looking StatementsThis press release
contains “forward-looking statements.” Such statements may be
preceded by the words “intends,” “may,” “will,” “plans,” “expects,”
“anticipates,” “projects,” “predicts,” “estimates,” “aims,”
“believes,” “hopes,” “potential” or similar words. Forward- looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company’s
control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks and uncertainties
associated with (i) the geographic, social and economic impact of
COVID-19 on our ability to conduct our business and raise capital
in the future when needed, (ii) our inability to manufacture our
products and product candidates on a commercial scale on our own,
or in collaboration with third parties; (iii) difficulties in
obtaining financing on commercially reasonable terms; (iv) changes
in the size and nature of our competition; (v) loss of one or more
key executives or scientists; and (vi) difficulties in securing
regulatory approval to market our products and product candidates.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements is
set forth in the Company’s filings with the Securities and Exchange
Commission (SEC), including the Company’s Annual Report on Form
10-K and its Quarterly Reports on Form 10-Q. Investors and security
holders are urged to read these documents free of charge on the
SEC’s website at http://www.sec.gov. The Company assumes no
obligation to publicly update or revise its forward-looking
statements as a result of new information, future events or
otherwise.
Andrew Ballou
BioSig Technologies, Inc.
Vice President, Investor Relations
54 Wilton Road, 2nd floor
Westport, CT 06880
aballou@biosigtech.com
203-409-5444, x133
BioSig Technologies (QB) (USOTC:BSGM)
Historical Stock Chart
From Aug 2024 to Sep 2024
BioSig Technologies (QB) (USOTC:BSGM)
Historical Stock Chart
From Sep 2023 to Sep 2024