BERWYN,
Pa., Aug. 29, 2022 /PRNewswire/ -- Annovis Bio,
Inc. (NYSE: ANVS) ("Annovis" or the "Company"), a clinical-stage
drug platform company addressing neurodegenerative diseases,
announced the appointment of Henry Hagopian
III as Chief Financial Officer, effective immediately.
Mr. Hagopian comes to Annovis with 30 years of finance and
accounting experience, including 15 years of increasing
responsibility at Organogenesis, a leading publicly-traded
regenerative medicine company. The company has also announced
that Jeff McGroarty has stepped away
from his role as Chief Financial Officer to pursue other
interests. Mr. McGroarty will assist in an orderly transition
of his duties over the next several weeks.
"The company has made substantial progress and is now reaching
an exciting inflection point given the advancement of buntanetap
into Phase 3 clinical trials," said Maria L. Maccecchini, Ph.D.,
Founder, President, and CEO of Annovis. "Looking at the
future of Annovis, Henry is an excellent addition to our team and
will help take the company to the next level given his extensive
experience in finance, accounting and strategic execution. I look
forward to working closely with him to advance our mission of
revolutionizing the treatment of neurodegenerative diseases."
"This is an exciting moment to be joining Annovis as it
continues its mission to improve the lives of those suffering from
neurodegenerative disorders," said Mr. Hagopian. "I'm excited
to join this dynamic and talented team and look forward to working
with the management to advance the pipeline and contribute to its
success. I share the management team's passion to
advance buntanetap, having experienced the devastating effects of
neurodegenerative disease among my own close friends and
family."
Mr. Hagopian joins Annovis from Organogenesis, a Nasdaq-listed
leading regenerative medicine company, where he spent 15 years of
increasing responsibility, most recently as Senior Vice President,
Finance and Treasurer. In 2020, he was the company's interim
Chief Financial Officer. Mr. Hagopian has an extensive background
in corporate accounting, financial reporting, treasury operations,
financial planning & analysis (FP&A), and investor
relations.
Mr. Hagopian received both an MBA and an MS in Accounting from
the Carroll Graduate School of Management at Boston College and a BS in Economics and Finance,
Summa cum laude, from the Silberman College of Business at
Farleigh Dickinson University.
About Annovis Bio, Inc.
Headquartered in Berwyn,
Pennsylvania, Annovis Bio, Inc. is a clinical-stage, drug
platform company developing transformative therapies that treat
neurodegenerative disorders such as Alzheimer's disease (AD),
Parkinson's disease (PD) and other chronic and acute
neurodegenerative diseases. The Company believes that it is the
only company developing a drug that inhibits more than one
neurotoxic protein, improves the information highway of the nerve
cell, known as axonal transport, reduces inflammation and protects
nerve cells from dying in chronic and acute neurodegeneration.
Annovis conducted two Phase 2 studies: one in AD patients and one
in both AD and PD patients. In the AD/PD study, buntanetap showed
improvements in cognition and memory in AD as well as body and
brain function in PD patients.
For more information on Annovis Bio, please visit the Company's
website www.annovisbio.com and follow us on LinkedIn and
Twitter.
Forward-Looking Statements
Statements in this press release contain "forward-looking
statements" that are subject to substantial risks and
uncertainties. Forward-looking statements contained in this press
release may be identified by the use of words such as "anticipate,"
"expect," "believe," "will," "may," "should," "estimate,"
"project," "outlook," "forecast" or other similar words, and
include, without limitation, statements regarding the timing,
effectiveness, and anticipated results of buntanetap clinical
trials. Forward-looking statements are based on Annovis Bio, Inc.'s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. These and other
risks and uncertainties are described more fully in the section
titled "Risk Factors" in the Annual Report on Form 10-K for the
year ended December 31, 2021, filed
with the Securities and Exchange Commission. Forward-looking
statements contained in this announcement are made as of this date,
and Annovis Bio, Inc. undertakes no duty to update such information
except as required under applicable law.
Media and Investor Contact:
Nic Johnson
Russo Partners, LLC
(303) 482-6405
nic.johnson@russopartnersllc.com
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SOURCE Annovis Bio