Adhera Therapeutics Appoints Dr. Andrew Reaume to Board of Directors

Rhea-AI Summary

Adhera Therapeutics, Inc. (OTCPK: ATRX) announced the appointment of Andrew G. Reaume, Ph.D., MBA, to its Board of Directors. Reaume, co-founder and CEO of Melior Discovery, brings over 25 years of pharmaceutical experience, including raising $15 million in capital and closing $40 million in partnerships. Adhera is advancing its clinical trials for MLR-1019 (Parkinson's disease) and MLR-1023 (Type 1 diabetes). The company's focus is on drug candidates qualifying for accelerated development pathways, with significant investments already made in these therapeutic areas.

Positive

• Appointment of Andrew Reaume adds significant industry experience and expertise.
• Reaume's background in funding and partnering could enhance Adhera's capital and collaboration efforts.
• Advancement to Phase 2 trials for MLR-1019 and MLR-1023 indicates progress in drug development.

Negative

• Dependence on ongoing capital raises poses financial risks.
• Potential delays or issues in clinical trials could hinder progress.

Baton Rouge, LA, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Adhera Therapeutics, Inc. (OTCPK: ATRX) ("Adhera" or the "Company"), a clinical stage biopharmaceutical company, is pleased to announce the appointment of Andrew G. Reaume, Ph.D., MBA to the Company’s Board of Directors.

Dr. Reaume is President and CEO of Melior Discovery, Inc., which he co-founded in 2005, building it into a robust, self-sustaining drug discovery organization and leader in pharmaceutical drug repositioning using the unique theraTRACE^® platform comprised of multiplexed in vivo disease models. He subsequently spun off two sister companies, Melior Pharmaceuticals I, Inc., Melior Pharmaceuticals II, LLC, for the purpose of developing proprietary clinical stage drug candidates.

Dr. Reaume has been responsible for raising over $15 million of investment capital for the Melior businesses and completed over $40 million in partnering deals, including research partnerships with global pharmaceutical companies. He was responsible for spearheading and continues to oversee a complex global development partnership with an Asian pharmaceutical partner.

Prior to Melior, Dr. Reaume held leadership roles in drug discovery and business analytics at NYSE-listed Pfizer and NASDAQ-listed Cephalon, which was acquired in 2011 by Teva Pharmaceuticals for $6.8 billion. In aggregate, he has more than twenty-five years of experience in the pharmaceutical industry. He received his MBA from the Wharton School of the University of Pennsylvania where he graduated with honors in Entrepreneurial Management. He received his PhD in genetics from the University of Connecticut.

“I am thrilled to welcome Andrew to our Board of Directors as we position to initiate Phase 2 clinical trials of MLR-1019 and MLR-1023 for Parkinson’s disease and Type 1 diabetes, respectively,” commented Andrew Kucharchuk, Chief Executive Officer at Adhera. “His decades of experience spanning the drug development spectrum and unprecedented understanding of these drug candidates will be invaluable in planned clinical trials, as will his business acumen and industry experience in identifying other drugs for accelerated development.”

“I am excited to join Adhera as a Director and look forward to lending my experience and network to assist in the next stage of development for some truly compelling therapeutics where there are clear areas of unmet medical need,” said Dr. Reaume. “Significant investment has gone into MLR-1019 and MLR-1023 already and we’re making strides expeditiously for what should be extremely valuable clinical research.”

About Adhera Therapeutics

Adhera Therapeutics is a clinical stage biopharmaceutical company focused on identifying advanced drug candidates that may qualify for accelerated developmental pathways. The Company has recently licensed two drug candidates, MLR-1019 and MLR-1023, from the Melior Discovery family of companies. Adhera is developing MLR-1023 (tolimidone) as a new drug for Type I diabetes with a focus on C-peptide positive patients. MLR-1023, a lyn kinase activator, has demonstrated exceptional clinical safety and tolerability in over 700 patients in Phase 2a and Phase 2b Type 2 diabetes studies. MLR-1019 (armesocarb) is a new class of drug for Parkinson’s Disease (PD) and represents the only drug to address both movement and non-movement symptoms of PD. Armesocarb is the active enantiomer in mesocarb, a drug marketed in Europe for 37 years for various psychiatric and central nervous system indications. In addition to advancing both drug candidates in Phase 2 clinical trials, the Company remains active in exploring other advanced drug development opportunities while maintaining its legacy assets, including CEQ508, an oral delivery of small interfering RNA (siRNA) against beta-catenin, to suppress polyps in the precancerous syndrome and orphan indication Familial Adenomatous Polyposis (FAP).

Forward Looking Statements

This press release contains forward-looking statements as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including the anticipated benefits of the compound, the initiation of Phase 2 trials, execution of the License Agreement, completion of a financing and the amount of proceeds, if any, from the con- templated financing and future collaborative opportunities. Forward-looking statements involve risks, uncertainties and assumptions that could cause Adhera Therapeutics' actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. Adhera Therapeutics has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are Adhera Therapeutics' need for, and the availability of, substantial capital in the future to fund its operations and research and development, the ability to agree upon the terms of the proposed financing with potential investors and existing noteholders and close on it, general risks in obtaining approval to initiate clinical trials, safety or efficacy issues arising during the trials, and the ultimate risks in reaching the commercialization stage. A more complete description of these risk factors is included in Adhera Therapeutics filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. Adhera Therapeutics undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

INVESTOR AND MEDIA CONTACT:
Adhera Therapeutics, Inc.
Andrew Kucharchuk
Chief Executive Officer
akucharchuk@adherathera.com

FAQ

Who is Andrew G. Reaume and what is his role at Adhera Therapeutics?

Andrew G. Reaume, Ph.D., MBA, is appointed to the Board of Directors at Adhera Therapeutics, bringing extensive experience in drug discovery and development.

What are MLR-1019 and MLR-1023 used for?

MLR-1019 is being developed for Parkinson’s disease, while MLR-1023 targets Type 1 diabetes.

What are the expected benefits of Andrew Reaume's appointment?

Reaume's expertise in drug development and fundraising is expected to enhance Adhera's clinical trial success and operational capacity.

What is the significance of the Phase 2 clinical trials for Adhera?

Initiating Phase 2 trials for MLR-1019 and MLR-1023 marks a critical step in the drug development process for Adhera.

How much investment capital has Andrew Reaume raised for his companies?

Andrew Reaume has raised over $15 million in investment capital for Melior Discovery and its related ventures.