Matinas BioPharma Announces Chairman Succession Plan
Eric J. Ende, MD, MBA Appointed as Chairman, Effective October 1, 2022; Founding Chairman Herbert J. Conrad to Remain an Independent Director of the Company
BEDMINSTER, N.J., Sept. 21, 2022 (GLOBE NEWSWIRE) -- Matinas BioPharma Holdings, Inc. (NYSE AMER: MTNB), a clinical-stage biopharmaceutical company focused on improving the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform delivery technology, today announced its leadership succession plan, with the Board of Directors unanimously appointing current board member, Eric J. Ende, to succeed Herbert J. Conrad as Chairman of the Board. Mr. Conrad, the founding Chairman of Matinas will remain on the Board as an independent director of the Company. The succession will be effective October 1, 2022.
“This change is representative of the progress we have made as a Company,” commented Herbert J. Conrad, Chairman of Matinas. “My future role at Matinas as a continuing member of a talented and dedicated board providing guidance and direction to our strong management team led by Jerry Jabbour is one that I eagerly look forward to. Eric Ende is uniquely qualified to assume the role of Chairman and I am thrilled that he will take over the leadership reins. Eric’s extensive board, industry, and deal experience, combined with his scientific and strategic insights, will be invaluable to Matinas during this exciting phase of development and growth.”
“I am honored to be appointed as the next Chairman of the Board at Matinas,” stated Eric J. Ende. “I could not be more excited about our technology, our leadership team, and the prospects for a truly differentiated platform drug delivery technology. Since I joined the Board in early 2017, I have learned a tremendous amount from Herb and my other colleagues. While it’s a challenge to succeed such an accomplished leader, I am pleased that we will all continue to benefit from Herb’s involvement, and I am looking forward to working more closely with Jerry as we position Matinas for potentially great things in the near and longer term.”
Dr. Ende joined the Company’s Board of Directors in March 2017. Dr. Ende was a director on Genzyme’s Board from 2010 – 2011 until it was acquired by Sanofi-Aventis for $21B in 2011. Dr. Ende is currently on the Board of Directors of Avadel plc, where he is the Chairman of the Nomination & Corporate Governance Committee and is serving on the Audit Committee. Dr. Ende is also on the Technology Transfer Committee of Mount Sinai Innovation Partners.
From 2002 through 2008, Dr. Ende was the senior biotechnology analyst at Merrill Lynch. During Dr. Ende’s career as a biotechnology analyst, he was named to Institutional Investor’s All-America Equity Research Team six times as well as to The Greenwich Survey list of top analysts. He was also named Top Stock Picker by The Street.com and Best Earnings Estimator by Forbes.com.
Dr. Ende received an MBA in Finance & Accounting from NYU – Stern Business School, an MD from Mount Sinai School of Medicine, and a BS in Biology and Psychology from Emory University.
About Matinas BioPharma
Matinas BioPharma is a biopharmaceutical company focused on improving the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform technology. The Company is developing its own internal portfolio of products as well as partnering with leading pharmaceutical companies to develop novel formulations that capitalize on the unique characteristics of the LNC platform.
Preclinical and clinical data have demonstrated that this novel technology can provide solutions to many of the challenges in achieving safe and effective intracellular delivery, for both small molecules and larger, more complex molecules, such as mRNA, DNA plasmids, antisense oligonucleotides, and vaccines. The combination of a unique mechanism of action and flexibility with formulation and route of administration (including oral), positions Matinas’ LNC technology to potentially become the preferred next-generation intracellular drug delivery vehicle with distinct advantages over both lipid nanoparticles and viral vectors.
The Company is focused on developing an internal and external pipeline of drugs candidates based on the LNC platform. Internally, the Company has two clinical stage assets. MAT2203 is an oral, LNC formulation of the highly potent antifungal medicine amphotericin B, currently preparing to commence a Phase 3 registration trial in the first quarter of 2023; MAT2501 is an oral, LNC formulation of the broad-spectrum aminoglycoside, amikacin, primarily used to treat chronic and acute bacterial infections, and currently in Phase 1. Externally, the Company has established a broad set of relationships with multiple global pharmaceutical collaborators, including BioNTech (mRNA), the National Institutes of Health and Gilead Sciences (antivirals), and Genentech, a member of the Roche Group (small molecules, antisense oligonucleotides, and antibody fragments).
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to our business activities, our strategy and plans, our collaboration with BioNTech, the potential of our LNC platform delivery technology, and the future development of its product candidates, including MAT2203, MAT2501, the anticipated timing of regulatory submissions, the anticipated timing of clinical studies, the anticipated timing of regulatory interactions, the Company’s ability to identify and pursue development and partnership opportunities for its products or platform delivery technology on favorable terms, if at all, and the ability to obtain required regulatory approval and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans," "could," "believes," "estimates" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials of our product candidates; our ability to successfully complete research and further development and commercialization of our product candidates; the uncertainties inherent in clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company’s intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company’s products; and the other factors listed under "Risk Factors" in our filings with the SEC, including Forms 10-K, 10-Q and 8-K. Investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this release. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Matinas BioPharma’s product candidates are all in a development stage and are not available for sale or use.
Investor and Media Contacts
Ankit Bhargava, MD
+1 815 721 4912
Source: Matinas BioPharma Holdings, Inc.
Released September 21, 2022