Akari Therapeutics Appoints Torsten Hombeck, Ph.D. as Chief Financial Officer

Rhea-AI Summary

Akari Therapeutics (Nasdaq: AKTX) has appointed Torsten Hombeck, Ph.D. as Chief Financial Officer, effective December 16, 2024. Dr. Hombeck, who previously served as Akari's CFO from 2019 to June 2023, brings over 20 years of biotechnology industry experience. During his previous tenure at Akari, he successfully raised over $50 million. Before rejoining Akari, he served as CFO at Aspira Women's Health. His extensive experience includes roles as Chief Commercial and Strategy Officer at Promethera Biosciences and Co-CEO at Cytonet. The appointment aims to strengthen the company's leadership team as it focuses on advancing its first-in-class ADC platform.

Positive

• Previous successful track record raising over $50M during 2019-2023 tenure
• Extensive industry experience in biotech finance and M&A
• Familiarity with company operations from previous CFO role

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• None.

BOSTON and LONDON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Akari Therapeutics, Plc (Nasdaq: AKTX) today announced the appointment of Torsten Hombeck, Ph.D. as Chief Financial Officer, effective December 16, 2024. Dr. Hombeck is a seasoned executive with over 20 years of experience in the biotechnology industry, finance, capital markets and M&A transactions, as well as clinical and commercial product development and regulatory filings in the U.S. and Europe.

“We are pleased with the continued evolution and progress made across multiple fronts. We believe that adding expertise to our leadership team is a key component of ensuring continued progress and importantly our ability to build upon momentum. Having formerly served as our CFO, Dr. Hombeck is intimately acquainted with our operations and goals and brings to Akari a strong business and financial acumen combined with clinical development and commercial expertise, a unique and valuable combination. We look forward to continuing our work with Torsten and leveraging his expertise moving forward,” commented Samir Patel, MD, Akari’s Interim President & CEO.

Dr. Hombeck added, “I am excited to come back to the Akari team during this exciting time as the Company focuses on advancing its first-in-class ADC platform. I believe as we advance our strategy, we have significant potential to drive value for our shareholders. I look forward to working closely alongside our team with the goal of realizing the full value and potential of our promising therapies and advancing our proprietary platform forward.”

Prior to joining Akari, Dr. Hombeck served as the CFO, Corporate Secretary and SVP at Aspira Women’s Health, Inc., a Nasdaq listed commercial-stage diagnostics company focused on the discovery, development and commercialization of novel diagnostic tools that improve gynecologic health outcomes. Prior to that, Dr. Hombeck served as the CFO of Akari Therapeutics from 2019-June 2023 where he raised over $50 million during his tenure.

Additionally, his previous positions include Chief Commercial and Strategy Officer and Managing Director at Promethera Biosciences, and Co-Chief Executive Officer and Chief Business Officer at Cytonet where he played an integral role in its acquisition by Promethera. Dr. Hombeck also served as Chief Financial Officer at both Agennix and GPC Biotech. Dr. Hombeck holds a Masters in Business Administration and a Ph.D. in Finance from the EBS University of Business and Law, Ostrich-Winkel.

About Akari Therapeutics

Akari Therapeutics, Plc (Nasdaq: AKTX) is a biotechnology company developing advanced therapies for autoimmune, oncology and inflammatory diseases. Akari has two lead assets, investigational nomacopan and an antibody drug conjugate (ADC) platform. Nomacopan is a bispecific recombinant inhibitor of complement C5 activation and leukotriene B4 (LTB4) activity. The Company is conducting pre-clinical research of long-acting PAS-nomacopan in geographic atrophy (GA). The Company’s ADC platform includes novel toxins and linkers coupled with important cancer antibody targets. For more information about Akari, please visit akaritx.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), about the Company that involve risks and uncertainties relating to future events and the future performance of the Company. Actual events or results may differ materially from these forward-looking statements. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “future,” “opportunity” “will likely result,” “target,” variations of such words, and similar expressions or negatives of these words are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are based on the Company’s current plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. A number of important factors, including those described in this communication, could cause actual results to differ materially from those contemplated in any forward-looking statements. Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, without limitation: the risk that Akari may not realize the anticipated benefits of its merger with Peak Bio (the “Merger”) in the time frame expected, or at all; the ability to retain and hire key personnel; potential adverse reactions or changes to business relationships resulting from the Merger; the potential impact of unforeseen liabilities, future capital expenditures, revenues, costs, expenses, earnings, synergies, economic performance, indebtedness, financial condition and losses on the future prospects, business and management strategies for the management, expansion and growth of the combined business; uncertainties as to the long-term value of Akari’s American Depositary Shares (and the ordinary shares represented thereby), including the dilution caused by Akari’s issuance of additional American Depositary Shares (and the ordinary shares represented thereby) in connection with the Merger; risks related to global as well as local political and economic conditions, including interest rate and currency exchange rate fluctuations; potential delays or failures related to research and/or development of the Company’s programs or product candidates; risks related to any loss of the Company’s patents or other intellectual property rights; any interruptions of the supply chain for raw materials or manufacturing for the Company’s product candidates, the nature, timing, cost and possible success and therapeutic applications of product candidates being developed by the Company and/or its collaborators or licensees; the extent to which the results from the research and development programs conducted by the Company, and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; uncertainty of the utilization, market acceptance, and commercial success of the Company’s product candidates; unexpected breaches or terminations with respect to the Company’s material contracts or arrangements; risks related to competition for the Company’s product candidates; the Company’s ability to successfully develop or commercialize its product candidates; potential exposure to legal proceedings and investigations; risks related to changes in governmental laws and related interpretation thereof, including on reimbursement, intellectual property protection and regulatory controls on testing, approval, manufacturing, development or commercialization of any of the Company’s product candidates; the Company’s ability to maintain listing of its ADSs on the Nasdaq Capital Market. While the foregoing list of factors presented here is considered representative, no list should be considered to be a complete statement of all potential risks and uncertainties. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

Investor Contact:

JTC Team, LLC
Jenene Thomas
908.824.0775
AKTX@jtcir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/918992d4-b852-45e7-9956-2c2a533917d8

FAQ

When does Torsten Hombeck start as CFO of Akari Therapeutics (AKTX)?

Torsten Hombeck starts as CFO of Akari Therapeutics on December 16, 2024.

How much capital did Torsten Hombeck raise during his previous tenure at AKTX?

During his previous tenure as CFO at Akari Therapeutics (2019-June 2023), Dr. Hombeck raised over $50 million.

What was Torsten Hombeck's role before rejoining AKTX?

Before rejoining Akari Therapeutics, Dr. Hombeck served as CFO, Corporate Secretary and SVP at Aspira Women's Health, a Nasdaq-listed commercial-stage diagnostics company.

What is AKTX's current strategic focus according to the new CFO?

According to Dr. Hombeck, Akari Therapeutics is focusing on advancing its first-in-class ADC platform and driving shareholder value through its promising therapies.