Kitov Appoints Gil Efron as Deputy Chief Executive Officer and Chief Financial Officer
October 11 2018 - 8:26AM
Simcha Rock to Retire as CFO and Remain on Kitov’s Board
of Directors
Kitov Pharma (NASDAQ/TASE: KTOV), an innovative
biopharmaceutical company, today announced the appointment of Gil
Efron as the Company’s new Deputy Chief Executive Officer and Chief
Financial Officer. Simcha Rock, who has served as Kitov’s Chief
Financial Officer since 2013, will retire from that position
following a transition with Mr. Efron, and will continue to serve
on the Company’s Board of Directors and as a strategic advisor.
“On behalf of the entire Board and management team at Kitov, I
am immensely grateful to Simcha Rock for his dedication and
valuable contributions to Kitov since its inception, including
playing a key role in the growth of our business and leading our
initial public offering on the NASDAQ. I am deeply appreciative
that Simcha will remain with Kitov to help facilitate a smooth
leadership transition, and we are pleased to continue to benefit
from his expertise and strategic advice. We all wish him all the
best in his retirement,” stated Kitov CEO, Isaac Israel. “We are
fortunate to be able to welcome Gil Efron, a highly regarded and
seasoned public company executive, into the Deputy CEO and CFO
position.”
Gil Efron brings over 25 years of experience in public company
and financial management positions. Most recently, he served as
Deputy CEO and CFO of Kamada, a NASDAQ and TASE dual-listed
plasma-derived protein therapeutics company. Previously, he was CFO
of NASDAQ listed RRsat Global Communications LTD where he led its
listing on NASDAQ; prior to that Mr. Efron served in various
finance executive positions. Mr. Efron holds a BA degree in
Economics and Accounting and an MA degree in Business
Administration from the Hebrew University of Jerusalem, and was
granted a certified public accountant’s license in Israel.
“Gil has proven his leadership and business acumen in the
biotech space. He played a key role in building Kamada into a
leading, profitable, international biopharmaceutical company with
over $100 million in annual revenues, where he led Kamada’s IPO on
NASDAQ,” Isaac Israel said.
“Following the recent FDA approval of our lead drug, Consensi™,
Kitov is well positioned to benefit from Gil’s experience and
skills in growing biotech companies from the clinical trial phase
into successful commercialization networks and profitability,”
Isaac Israel concluded.
Gil and Simcha will work together in the coming months until the
complete transition of responsibilities, which is planned by
year-end.
About Kitov Pharma
Kitov Pharma (Kitov Pharma Ltd.; NASDAQ/TASE: KTOV) is an
innovative biopharmaceutical drug development group of companies.
Leveraging deep regulatory and clinical-trial expertise, Kitov's
veteran team of healthcare and business professionals maintains a
proven track record in streamlined end-to-end drug development and
approval. Kitov's flagship combination drug, Consensi™, intended to
treat osteoarthritis pain and hypertension simultaneously, achieved
the primary efficacy endpoints for its Phase III and Phase III/IV
clinical trials. NT219, which is developed by its majority-owned
subsidiary, TyrNovo Ltd., is a novel patented small molecule
designed to overcome cancer drug resistance that is currently in
pre-clinical development. By lowering development risk and cost
through fast-track regulatory approval of novel late-stage
therapeutics, Kitov plans to deliver rapid ROI and long-term
potential to investors, while making a meaningful impact on
people's lives. For more information on Kitov, the content of which
is not part of this press release, please
visit http://www.kitovpharma.com.
Forward-Looking Statements and Kitov's Safe Harbor Statement
Certain statements in this press release that are
forward-looking and not statements of historical fact are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of
forward-looking words such as "believe", "expect", "intend",
"plan", "may", "should", "could", "might", "seek", "target",
"will", "project", "forecast", "continue" or "anticipate" or their
negatives or variations of these words or other comparable words or
by the fact that these statements do not relate strictly to
historical matters. You should not place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. Forward-looking statements reflect our current views,
expectations, beliefs or intentions with respect to future events,
and are subject to a number of assumptions, involve known and
unknown risks, many of which are beyond our control, as well as
uncertainties and other factors that may cause our actual results,
performance or achievements to be significantly different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Important factors that could cause
or contribute to such differences include, among others, risks
relating to: risks and uncertainties associated with completing the
proposed settlement of the two U.S. shareholder class-action
lawsuits, the number of plaintiffs who may opt-out of the proposed
settlement, and whether any proposed settlement is appealed; the
fact that drug development and commercialization involves a lengthy
and expensive process with uncertain outcomes; our ability to
successfully develop and commercialize our pharmaceutical products;
the expense, length, progress and results of any clinical trials;
the lack of sufficient funding to finance the clinical trials; the
impact of any changes in regulation and legislation that could
affect the pharmaceutical industry; the difficulty in receiving the
regulatory approvals necessary in order to commercialize our
products; the difficulty of predicting actions of the U.S. Food and
Drug Administration or any other applicable regulator of
pharmaceutical products; the regulatory environment and changes in
the health policies and regimes in the countries in which we
operate; the uncertainty surrounding the actual market reception to
our pharmaceutical products once cleared for marketing in a
particular market; the introduction of competing products; patents
attained by competitors; dependence on the effectiveness of our
patents and other protections for innovative products; our ability
to obtain, maintain and defend issued patents with protective
claims; the commencement of any patent interference or infringement
action; our ability to prevail, obtain a favorable decision or
recover damages in any such action; and the exposure to litigation,
including patent litigation, and/or regulatory actions; the
continued uncertainty surrounding an investigation by the Israel
Securities Authority into our historical public disclosures and the
potential impact of such investigation on the trading of our
securities or on our clinical, commercial and other business
relationships; or on receiving the regulatory approvals necessary
in order to commercialize our products; the uncertainty of the
impact of such investigation and/or the proposed settlement of the
two U.S. shareholder class-action lawsuits on the Israeli class
action civil litigation in connection with the investigation which
is still continuing, and other factors that are discussed in our in
our Annual Report on Form 20-F for the year ended December 31, 2017
and in our other filings with the SEC, including our cautionary
discussion of risks and uncertainties under ‘Risk Factors’ in our
Registration Statements, Prospectuses and Annual Reports. These are
factors that we believe could cause our actual results to differ
materially from expected results. Other factors besides those we
have listed could also adversely affect us. Any forward-looking
statement in this press release speaks only as of the date which it
is made. We disclaim any intention or obligation to publicly update
or revise any forward-looking statement, or other information
contained herein, whether as a result of new information, future
events or otherwise, except as required by applicable law. You are
advised, however, to consult any additional disclosures we make in
our reports to the SEC, which are available on the SEC’s
website, http://www.sec.gov.
For further information, contact:
Simcha Rock
Chief Financial Officer
+972-3-933-3121 ext. #105
simcha@kitovpharma.com
SOURCE Kitov Pharma
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