Spruce Biosciences Appoints Percival Barretto-Ko to Board of Directors

Rhea-AI Summary

Spruce Biosciences appoints Percival Barretto-Ko to its Board of Directors and announces the departure of Dina Chaya. Barretto-Ko brings over 20 years of commercial and biopharmaceutical expertise. The company is focused on developing novel therapies for rare endocrine disorders. Barretto-Ko's global experience will be valuable as Spruce prepares for the potential commercialization of tildacerfont.

Accomplished life sciences industry executive brings more than 20 years of commercial and biopharmaceutical expertise to Spruce Board

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Spruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today announced the appointment of Percival Barretto-Ko to the company’s Board of Directors. Concurrently, Dina Chaya, Ph.D., has stepped down from the Board of Directors.

“On behalf of Spruce, I am pleased to welcome Percival Barretto-Ko to our Board of Directors,” said Mike Grey, Executive Chairman of Spruce Biosciences. “Percival is an accomplished and highly respected biopharmaceutical leader with deep commercial expertise who joins a Board of industry experts that share a conviction around the potential of tildacerfont to alter the course of management for people living with congenital adrenal hyperplasia (CAH) and other rare endocrine disorders. Percival’s global experience and insights will be invaluable as we prepare for the potential commercialization of tildacerfont.”

Mr. Grey added, “We are also grateful to Dina for her vast contributions to the Board over the past three years. Her counsel and support have helped guide and advance Spruce’s pipeline from early proof-of-concept to late-stage clinical development.”

Mr. Barretto-Ko is a life sciences industry veteran with over 20 years of commercial expertise and biopharmaceutical experience across various therapeutic focuses. Most recently, he has served as President and Chief Executive Officer at Plexium, Inc. Prior to joining Plexium, Mr. Barretto-Ko served in numerous roles at Astellas Pharma Inc., including the Chief Business Officer and President of Astellas Pharma US, from 2005 to 2021. Prior to joining Astellas, Mr. Barretto-Ko served in increasingly senior roles at Roche UK and US from 2001 to 2005. Mr. Barretto-Ko earned his B.S. in Biological Sciences and Chemistry with Honors from Cornell University and an M.B.A. from Yale University. In addition, he served as a Sloan Fellow for Innovation and Global Leadership at the MIT Sloan School of Management, where he was awarded an M.S. degree in Management. Mr. Barretto-Ko is a board member of Alessa Therapeutics, Inc., a pharmaceutical company, and Americares, a health-focused relief and development organization that serves people affected by poverty or disaster with life-changing medicine and health programs.

“I am impressed by the progress Spruce has made in advancing tildacerfont across multiple clinical programs to potentially change the treatment paradigm for patients with classic CAH and polycystic ovary syndrome,” said Percival Barretto-Ko. “This is an incredibly exciting time for the company, and with an outstanding board and management team at the helm, I look forward to contributing my global experience to support our efforts in developing and commercializing potentially groundbreaking therapies to treat pediatric and adult patients with rare endocrine disorders.”

About Spruce Biosciences

Spruce Biosciences is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need. Spruce is initially developing its wholly-owned product candidate, tildacerfont, as the potential first non-steroidal therapy for patients suffering from classic congenital adrenal hyperplasia (CAH). Spruce is also developing tildacerfont for women suffering from polycystic ovary syndrome (PCOS) with primary adrenal androgen excess. To learn more, visit www.sprucebiosciences.com and follow us on Twitter @Spruce_Bio, LinkedIn, Facebook and YouTube.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the potential of tildacerfont to alter the course of management for people living with CAH and the potential commercialization of tildacerfont. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “forward,” “will,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Spruce’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Spruce’s business in general, the impact of geopolitical and macroeconomic events, and the other risks described in Spruce’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Spruce undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230525005326/en/

Media

Will Zasadny

Evoke Canale

(619) 961-8848

will.zasadny@evokecanale.com

media@sprucebiosciences.com

Investors

Xuan Yang

Solebury Strategic Communications

(415) 971-9412

xyang@soleburystrat.com

investors@sprucebiosciences.com

Source: Spruce Biosciences, Inc.

FAQ

Who has Spruce Biosciences appointed to its Board of Directors?

Spruce Biosciences has appointed Percival Barretto-Ko to its Board of Directors.

Who has stepped down from Spruce Biosciences' Board of Directors?

Dina Chaya has stepped down from Spruce Biosciences' Board of Directors.

What is Spruce Biosciences focused on?

Spruce Biosciences is focused on developing novel therapies for rare endocrine disorders.

What is the potential of tildacerfont?

Tildacerfont has the potential to alter the course of management for people living with congenital adrenal hyperplasia (CAH) and other rare endocrine disorders.

What is Percival Barretto-Ko's background?

Percival Barretto-Ko is a life sciences industry veteran with over 20 years of commercial expertise and biopharmaceutical experience across various therapeutic focuses.

What organizations is Percival Barretto-Ko a board member of?

Percival Barretto-Ko is a board member of Alessa Therapeutics, Inc. and Americares.