Jacob Ma-Weaver Joins ARCA biopharma Board of Directors
ARCA biopharma (Nasdaq: ABIO) announced the appointment of Jacob Ma-Weaver to its Board of Directors. Ma-Weaver, managing member of ARCA’s largest shareholder, Cable Car Capital LLC, brings extensive investment experience to the role. His prior experience includes positions at Amici Capital LLC, Dodge & Cox, and McKinsey & Company. The company has also entered into a Cooperation Agreement with Cable Car Capital, allowing for the nomination of an additional director at the upcoming Annual Stockholder Meeting. ARCA biopharma focuses on developing targeted therapies for cardiovascular diseases.
- Jacob Ma-Weaver's appointment may enhance strategic direction given his investment background.
- The cooperation agreement could strengthen shareholder relations and potential nominations.
- Concerns about continuity in leadership and experience gaps as new members join the board.
WESTMINSTER, Colo., June 21, 2022 (GLOBE NEWSWIRE) -- ARCA biopharma, Inc. (Nasdaq: ABIO) today announced that Jacob Ma-Weaver has joined its Board of Directors.
“We are pleased to welcome Jacob Ma-Weaver, the managing member of ARCA’s largest shareholder, to our Board,” said Robert E. Conway, Chairman of ARCA’s Board of Directors. “We appreciate his participation and input as we explore and evaluate strategic options for maximizing stockholder value.”
Mr. Ma-Weaver is the Managing Member of Cable Car Capital LLC, an investment adviser he founded in 2013. Cable Car Capital LLC is the General Partner of The Funicular Fund, LP, a hedge fund. Since 2013, Mr. Ma-Weaver has been continuously involved in implementing the firm’s investment approach through the fund and its predecessor accounts. From 2012 to 2013, Mr. Ma-Weaver was employed as an investment analyst at Amici Capital LLC, where he focused on healthcare. He was previously employed as an equity research associate at Dodge & Cox and a corporate finance business analyst at McKinsey & Company. Mr. Ma-Weaver received a Bachelor of Arts in Comparative Literature & Society and Economics and a Master of Arts in Statistics from Columbia University. He is a Chartered Financial Analyst (CFA) charterholder.
The Company has entered into a Cooperation Agreement with Cable Car Capital LLC and its affiliates that includes, among other terms, customary standstill provisions and the right for Cable Car to nominate an additional director nominee at the Company’s 2022 Annual Stockholder Meeting.
About ARCA biopharma
ARCA biopharma is dedicated to developing genetically and other targeted therapies for cardiovascular diseases through a precision medicine approach to drug development. At present, ARCA is evaluating options for development of its assets, including partnering and other strategic options. For more information, please visit www.arcabio.com.
Investor & Media Contact:
Derek Cole
720.940.2163
derek.cole@arcabio.com
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