Acumen Pharmaceuticals Appoints Derrell Porter, M.D., to its Board of Directors

Rhea-AI Summary

Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS) announced the appointment of Dr. Derrell Porter to its Board of Directors on January 4, 2023. Dr. Porter, a physician-entrepreneur with over 20 years of experience in drug development, will enhance Acumen’s strategic direction as it advances clinical trials for ACU193, a potential disease-modifying treatment for Alzheimer’s disease. This humanized monoclonal antibody targets toxic soluble AβOs, aiming to mitigate neurodegeneration associated with Alzheimer's. ACU193 has received Fast Track designation from the FDA.

Positive

• Appointment of Dr. Derrell Porter adds significant drug development expertise to the Board.
• Presence of an experienced leader could enhance strategic direction and credibility.
• ACU193 has received Fast Track designation from the FDA, indicating regulatory support.

Negative

• None.

CHARLOTTESVILLE, Va. and CARMEL, Ind., Jan. 04, 2023 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS) (“Acumen” or the “Company”), a clinical-stage biopharmaceutical company focused on the development of novel targeted therapeutics for Alzheimer’s disease (AD), today announced Derrell Porter, M.D., has joined its Board of Directors.

“We are thrilled to welcome Dr. Porter to our Board of Directors at a time when we’re rapidly advancing clinical development of ACU193,” said Daniel O’Connell, President and Chief Executive Officer of Acumen Pharmaceuticals. “Dr. Porter brings significant expertise in drug development and commercialization to the Board as we develop a novel and potentially disease-modifying treatment for Alzheimer’s disease. His deep experience in diseases that benefit from personalized treatments and combination therapies will be invaluable to Acumen.”

Dr. Porter said: “This is an exciting time for drug development in Alzheimer’s disease, and I am drawn to Acumen’s pioneering science and the therapeutic promise of ACU193. I look forward to contributing my experience bringing meaningful treatments to market as Acumen works to deliver therapies that can substantially impact those affected by this devastating disease.”

Dr. Porter is a physician-entrepreneur with more than 20 years of experience in drug development. He is currently the Founder and CEO of Cellevolve, a development and commercialization cell therapy biotech focused on neglected diseases, and previously served in commercial and corporate development roles at Atara Bio, Gilead, AbbVie and Amgen. He is also a Board Member at Passage Bio, a genetics medicine company developing therapeutics for disorders of the central nervous system; Portal Innovations, LLC, a venture development engine which delivers seed capital, specialized equipment, lab space, and management expertise to early-stage biotech companies; and an Advisory Committee Member at the University of Pennsylvania School of Medicine.

Dr. Porter started his career at McKinsey & Company. He earned his M.D. from the Perelman School of Medicine and MBA from the Wharton School at the University of Pennsylvania, and his B.S. in Neuroscience from the University of California, Los Angeles.

About ACU193

ACU193 is a humanized monoclonal antibody (mAb) discovered and developed based on its selectivity for soluble AβOs, which Acumen believes are the most toxic and pathogenic form of Aβ, relative to Aβ monomers and amyloid plaques. Soluble AβOs have been observed to be potent neurotoxins that bind to neurons, inhibit synaptic function and induce neurodegeneration. By selectively targeting toxic soluble AβOs, ACU193 aims to directly address what a growing body of evidence indicates is a primary underlying cause of the neurodegenerative process in AD. ACU193 has been granted Fast Track designation for the treatment of early Alzheimer’s disease by the U.S. Food and Drug Administration.

About Acumen Pharmaceuticals, Inc.

Acumen, headquartered in Charlottesville, VA, with clinical operations based in Carmel, IN, is a clinical stage biopharmaceutical company developing a novel disease-modifying approach to treat Alzheimer’s disease. Acumen’s scientific founders pioneered research on AβOs, which a growing body of evidence indicates are primary triggers of Alzheimer’s disease pathology. Acumen is currently focused on advancing its investigational product candidate, ACU193, a humanized monoclonal antibody that selectively targets toxic soluble AβOs in INTERCEPT-AD, a Phase 1 clinical trial involving early Alzheimer’s disease patients. For more information, visit www.acumenpharm.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Any statement describing Acumen’s goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “believes,” “expects,” “anticipates,” “could,” “should,” “would,” “seeks,” “aims,” “plans,” “potential,” “will,” “milestone” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include the those concerning the therapeutic potential of Acumen’s product candidate, ACU193. These statements are based upon the current beliefs and expectations of Acumen management, and are subject to certain factors, risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing safe and effective human therapeutics. Such risks may be amplified by the impacts of the COVID-19 pandemic, geopolitical events and macroeconomic conditions, such as rising inflation and interest rates, supply disruptions and uncertainty of credit and financial markets. These and other risks concerning Acumen’s programs are described in additional detail in Acumen’s filings with the Securities and Exchange Commission (“SEC”), including in Acumen’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and future filings with the SEC, including Acumen’s Quarterly Report on Form 10-Q for the quarter ended and September 30, 2022. Copies of these and other documents are available from Acumen. Additional information will be made available in other filings that Acumen makes from time to time with the SEC. These forward-looking statements speak only as of the date hereof, and Acumen expressly disclaims any obligation to update or revise any forward-looking statement, except as otherwise required by law, whether, as a result of new information, future events or otherwise.

Investors:
Alex Braun
abraun@acumenpharm.com

Media:
AcumenPR@westwicke.com

FAQ

Who is Dr. Derrell Porter in relation to Acumen Pharmaceuticals?

Dr. Derrell Porter has joined the Board of Directors of Acumen Pharmaceuticals, bringing over 20 years of drug development experience.

What is ACU193 and why is it significant for Acumen Pharmaceuticals?

ACU193 is a humanized monoclonal antibody targeting toxic soluble AβOs, developed as a potentially disease-modifying treatment for Alzheimer’s disease.

What designation has ACU193 received from the FDA?

ACU193 has been granted Fast Track designation by the U.S. Food and Drug Administration for the treatment of early Alzheimer’s disease.

When was Dr. Derrell Porter appointed to the Board of Acumen Pharmaceuticals?

Dr. Derrell Porter was appointed to the Board of Directors of Acumen Pharmaceuticals on January 4, 2023.

What impact could Dr. Porter’s appointment have on Acumen Pharmaceuticals?

Dr. Porter’s extensive background in drug development may enhance Acumen’s strategic direction and potential for successful commercialization of its therapies.