Cingulate Appoints Curt Medeiros and Gregg Givens to Board of Directors

Rhea-AI Summary

Cingulate Inc., a clinical-stage biopharmaceutical company, announced the appointment of Curt Medeiros and Gregg Givens to its Board of Directors following its IPO. Medeiros brings expertise in healthcare growth and market access, while Givens has over 35 years of finance experience. Both will contribute to the company’s vision of enhancing ADHD treatment and addressing unmet patient needs. Their backgrounds aim to strengthen Cingulate's leadership and business strategy as it advances its product pipeline, particularly targeting behavioral health and ADHD management.

Positive

• Appointment of experienced board members Curt Medeiros and Gregg Givens enhances leadership.
• Medeiros has strong connections in healthcare markets, which may aid in strategic partnerships.
• Givens brings over 35 years of finance experience, likely improving financial strategy.

Negative

• Concerns exist regarding the continuity and experience gap due to recent board changes.

Enhances Board’s Expertise in Finance, Healthcare Technology, and Market Access Strategies

KANSAS CITY, Kan., Jan. 25, 2022 (GLOBE NEWSWIRE) -- Following its initial public offering last month, Cingulate Inc. (NASDAQ: CING), a clinical-stage biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, publicly announced today the appointments of Curt Medeiros and Gregg Givens to its Board of Directors. Officially, Medeiros and Givens joined Cingulate’s board in September.

“We are excited to have Curt and Gregg on the Cingulate Board of Directors,” said Shane J. Schaffer, PharmD, Chairman and Chief Executive Officer (CEO) of Cingulate. “Curt’s background in high-growth healthcare companies with relationships across the payer, provider, and life science markets, and Gregg’s two decades of public company finance experience, complement the experience and skills of our current Board and management team. We are benefitting from their fresh perspectives as we continue to advance our innovative product candidates, revitalize patient care and deliver value to our investors.”

“Behavioral health is becoming a high priority for the U.S. and global healthcare system, however significant challenges persist for patients, physicians, and families living with and caring for individuals with Attention Deficit/Hyperactivity Disorder (ADHD),” said Medeiros, former Chief Operating Officer (COO) and Senior Vice President of Optum Life Sciences. “I am impressed with Cingulate’s commitment to this underserved population and progress in developing its two ADHD product candidates, which we believe will simplify the daily management of ADHD, and the future of its broader pipeline. I am deeply committed to Cingulate’s mission and vision and will support the Company’s leadership and talented employees to develop these important treatments and drive growth.”

“I am pleased to join the Cingulate Board and believe it has a significant opportunity to address the long-standing unmet needs of patients with ADHD,” said Givens, who most recently served as Senior Vice President, Chief Financial Officer (CFO) and Treasurer for publicly traded DST Systems Inc. “Cingulate, its product candidates, and drug pipeline are on an exciting trajectory. I look forward to working with the Board and management team to continue executing on Cingulate’s clinical and business milestones for the benefit of patients, employees, and investors.”

Curt Medeiros, current CEO and Board member of software company Ovation.io, has more than 20 years of healthcare leadership experience throughout the payer, provider, and life science markets. He worked for nearly 10 years at Optum, a leading information and technology-enabled health services business that is part of UnitedHealth Group, including several leadership roles with significant P&L responsibility. From 2014 to 2016, he served as COO and Senior Vice President of Optum Life Sciences, which drives client value by providing best-in-class real-world data, analytics, consulting, and collaborations aimed at improving the health care system for all stakeholders. From 2016 to 2019, Medeiros served as President of both Optum Analytics and Optum Advanced Data & Analytics, overseeing businesses that grew to 1,200 employees and served the analytical needs of external payers, providers, and life science companies.

Most recently, Medeiros served as President and COO of publicly traded Ontrak Inc., a leading AI-powered and telehealth-enabled healthcare company, from December 2019 to June 2021. He has an MBA from Harvard Business School and a B.S. in chemical engineering from the Massachusetts Institute of Technology.

Gregg Givens has more than 35 years of financial and operational leadership experience across the global fintech and healthcare processing, manufacturing, asset management, and real estate industries. For more than two decades, Givens served in finance and accounting leadership roles at DST Systems Inc., a provider of advisory, technology, and operations outsourcing to the financial and healthcare industries, with 16,000 employees worldwide. From 2014 to 2018, Givens served as the company’s Senior Vice President, CFO, and Treasurer through its sale to SS&C Technologies. Prior to DST, Givens, a certified public accountant, worked for nearly 15 years at PricewaterhouseCoopers. He has a BSACC from the University of Missouri-Columbia.

About Cingulate®           
Cingulate Inc. (NASDAQ: CING), is a clinical-stage biopharmaceutical company utilizing its proprietary Precision Timed Release™ (PTR™) drug delivery platform technology to build and advance a pipeline of next-generation pharmaceutical products, designed to improve the lives of patients suffering from frequently diagnosed conditions characterized by burdensome daily dosing regimens and suboptimal treatment outcomes. With an initial focus on the treatment of Attention Deficit/Hyperactivity Disorder (ADHD), Cingulate is identifying and evaluating additional therapeutic areas where PTR technology may be employed to develop future product candidates, including to treat anxiety disorders.

Cingulate is headquartered in Kansas City. For more information visit Cingulate.com

Forward-Looking Statements

This press release contains “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. These forward-looking statements include all statements, other than statements of historical fact, regarding our current views and assumptions with respect to future events regarding our business, including statements with respect to our plans, assumptions, expectations, beliefs and objectives with respect to product development, clinical studies, clinical and regulatory timelines, market opportunity, competitive position, business strategies, potential growth opportunities and other statements that are predictive in nature.

These statements are generally identified by the use of such words as “may,” “could,” “should,” “would,” “believe,” “anticipate,” “forecast,” “estimate,” “expect,” “intend,” “plan,” “continue,” “outlook,” “will,” “potential” and similar statements of a future or forward-looking nature. Readers are cautioned that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially from those contained in these forward-looking statements as a result of various factors disclosed in our filings with the Securities and Exchange Commission (SEC), including the “Risk Factors” section of our prospectus filed with the SEC on December 9, 2021. All forward-looking statements speak only as of the date on which they are made and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

Contacts:

Investor Relations
Thomas Dalton
Head of Investor & Public Relations, Cingulate, Inc.
TDalton@cingulate.com
913-942-2301

Andy Brimmer / Amy Feng
Joele Frank, Wilkinson Brimmer Katcher
abrimmer@joelefrank.com
afeng@joelefrank.com
212-355-4449

Media Relations
Melyssa Weible
Elixir Health Public Relations
mweible@elixirhealthpr.com
201-723-5805

CING-US-100-0123

FAQ

Who are the new board members appointed by Cingulate (CING)?

Cingulate appointed Curt Medeiros and Gregg Givens to its Board of Directors.

What is the background of Curt Medeiros at Cingulate (CING)?

Curt Medeiros has extensive experience in high-growth healthcare companies and served as COO at Optum Life Sciences.

What experience does Gregg Givens bring to Cingulate (CING)?

Gregg Givens has over 35 years of financial leadership experience, including roles at DST Systems Inc.

How might the new board appointments affect Cingulate's (CING) product pipeline?

The new board members aim to enhance Cingulate's strategy in advancing its ADHD product candidates.

What is Cingulate's focus in the pharmaceutical market?

Cingulate focuses on developing treatments for ADHD and addressing the challenges faced by patients.