Cognition Therapeutics Adds Public Company Financial and Operational Expertise to Board of Directors with Appointment of Ellen B. Richstone

Rhea-AI Summary

Cognition Therapeutics, Inc. (Nasdaq: CGTX) announced the appointment of Ellen B. Richstone to its board of directors, where she will chair the audit committee. Richstone brings extensive experience from Fortune 500 companies and board positions in manufacturing and technology. Her leadership in finance, operations, and over 35 acquisitions, totaling $1 billion raised, positions her to enhance Cognition's strategic direction. Richstone's academic credentials include degrees from Scripps College and Tufts University, and she has been recognized for her governance contributions.

Positive

• Ellen B. Richstone appointed as chair of the audit committee, bringing extensive financial expertise.
• Richstone's background includes leading financial operations for Fortune 500 companies, which may enhance Cognition's strategic direction.

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• None.

PURCHASE, N.Y., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Cognition Therapeutics, Inc. (Nasdaq: CGTX), a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina (the “Company” or “Cognition”), today announced the addition of Ellen B. Richstone to the company’s board of directors, where she will serve as the chair of the audit committee. Mrs. Richstone brings extensive financial and operational experience to Cognition’s board, having served as chief financial officer and treasurer for Fortune 500 companies, and as a board member for companies in manufacturing and technology industries.

Lisa Ricciardi, Cognition’s president and CEO, stated, "Ellen’s expertise leading companies and serving shareholder interests on public company boards will be a valuable addition to our organization. Her career working in operations and financial capacities across diverse industries has afforded Ellen valuable perspectives. We look forward to leveraging her experiences as we evolve our business."

Mrs. Richstone currently serves on the boards of eMagin, a company developing OLED microdisplay technology for virtual and augmented reality applications; Superior Industries International, a manufacturer of cast aluminum automotive wheels; and Orion Energy Systems, a company dedicated to the manufacture of sustainable and energy efficient LED lighting systems. Earlier in her career, she was chief financial officer at public and private companies ranging in size up to Fortune 500, including Sonus Networks, Rohr Aerospace (Fortune 500) and Augat (former public company, now a division of TE Connectivity Ltd), in which positions she completed and integrated over 35 acquisitions and raised a combined $1 billion in equity and debt.

Mrs. Richstone graduated from Scripps College in Claremont, California and holds a Master of Arts in international affairs and a Master of Arts in Law and Diplomacy (MALD) with a specialty in international business law from the Fletcher School of Law and Diplomacy at Tufts University. In addition, she completed the Advanced Professional Certificate in Finance at New York University’s Graduate School of Business Administration. In 2020, Mrs. Richstone was named to the National Association of Corporate Directors (NACD) Directorship 100 for her work in board leadership and governance; and in 2013, was given the Distinguished Director Award from the American College of Corporate Directors. She also sits on the board of the New England chapter of the National Association of Corporate Directors.

About Cognition Therapeutics:
Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system, or CNS, and retina. Our goal is to develop disease modifying treatments for patients with these degenerative disorders by initially leveraging our expertise in the σ-2 (sigma-2) receptor which is expressed by multiple cell types, including neuronal synapses, and acts as a key regulator of cellular damage commonly associated with certain age-related degenerative diseases of the CNS and retina. We believe that targeting the S2R complex represents a mechanism that is functionally distinct from other current approaches in clinical development for the treatment of degenerative diseases.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of management of Cognition Therapeutics, Inc. (the “Company”). These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements. These risks and uncertainties are described more fully in the "Risk Factors" section of the Company’s prospectus, dated October 7, 2021, that was filed with the Securities and Exchange Commission (“SEC”) under File No. 333-257999 and elsewhere in filings with the SEC available at www.sec.gov, as the same may be supplemented or superseded from time to time by the Company’s future periodic reports, including its Annual Reports on Form 10-K. Any forward-looking statements that the Company makes in this announcement speak only as of the date of this press release, and the Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law.

Contact Information:
Cognition Therapeutics, Inc.
info@cogrx.com

Aline Sherwood (media)
Scienta Communications
asherwood@scientapr.com

Lisa Sher (investors)
Tiberend Strategic Advisors, Inc.
lsher@tiberend.com

FAQ

Who is Ellen B. Richstone in relation to Cognition Therapeutics?

Ellen B. Richstone has been appointed as a member of Cognition Therapeutics' board of directors and will serve as the chair of the audit committee.

What qualifications does Ellen B. Richstone bring to Cognition Therapeutics?

Richstone has extensive financial and operational experience, having previously served as CFO for Fortune 500 companies and completed over 35 acquisitions.

What role will Ellen B. Richstone play at Cognition Therapeutics?

She will chair the audit committee, leveraging her expertise to oversee financial practices and governance.

What are the expected impacts of Ellen B. Richstone's appointment on Cognition Therapeutics?

Her appointment is expected to strengthen Cognition's leadership and provide valuable perspectives on financial and operational strategies.