Telomir Pharmaceuticals Mourns the Passing of Chairman and CEO Dr. Christopher Chapman

Rhea-AI Summary

Telomir Pharmaceuticals (Nasdaq: TELO) announced the passing of its Chairman and CEO, Dr. Christopher Chapman. The company's Board of Directors has appointed Erez Aminov as the new CEO and Chairman. Aminov is currently the CEO and Chairman of MIRA Pharmaceuticals (Nasdaq: MIRA).

In addition, Telomir announced changes to its Board of Directors. Three directors have voluntarily resigned, and three new directors have been appointed: Dr. Matthew P. Del Giudice, Mr. Ned MacPherson, and Matthew Pratt Whalen, CPA. Dr. Craig Eagle and Michael Jerman will remain on the board.

Telomir Pharmaceuticals is a pre-clinical-stage company focused on developing Telomir-1, a drug candidate aimed at promoting longevity in humans and dogs through the treatment of age-related conditions.

Positive

• Appointment of experienced leadership with Erez Aminov as new CEO and Chairman
• Addition of three new directors to the Board, potentially bringing fresh perspectives
• Continuity in leadership with two existing directors remaining on the Board

Negative

• Unexpected loss of founding CEO and Chairman Dr. Christopher Chapman
• Potential disruption in company strategy and operations due to sudden leadership change
• Departure of three Board members, possibly affecting company governance and decision-making

Insights

Biotech Industry Expert

The passing of Dr. Chapman, Telomir's Chairman and CEO, is a significant event for the company. While tragic, the swift appointment of Erez Aminov as the new CEO and Chairman demonstrates the board's commitment to continuity. Aminov's experience as CEO of MIRA Pharmaceuticals (Nasdaq: MIRA) brings valuable leadership to Telomir.

The reshuffling of the board, with three new directors joining, suggests a strategic shift in the company's governance. This could potentially bring fresh perspectives to Telomir's development of Telomir-1, their key drug candidate for longevity and age-related conditions. However, the loss of Dr. Chapman's scientific expertise and vision may pose challenges in the short term for this pre-clinical stage company.

Corporate Governance Analyst

The rapid reorganization of Telomir's leadership structure following Dr. Chapman's passing reflects a robust succession plan. The appointment of Erez Aminov, an experienced biotech executive, as both CEO and Chairman, consolidates power but may raise questions about board independence. The simultaneous departure of three directors and addition of three new ones, including a CPA, suggests a deliberate effort to reshape the board's composition and skill set.

This transition could potentially lead to shifts in corporate strategy or accelerate the development timeline for Telomir-1. Investors should monitor for any changes in the company's research focus or capital allocation in the coming months as the new leadership team establishes its priorities.

Telomir Board of Directors appoints Erez Aminov as CEO and Chairman of the Board

Telomir also announces Board of Directors departures and additions

TAMPA, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Telomir Pharmaceuticals, Inc. (Nasdaq: TELO) (“Telomir” or the “Company”), a pre-clinical-stage pharmaceutical company focused on the development and commercialization of Telomir-1 to promote longevity in humans and dogs through the treatment of age-related conditions, today announced the passing of Chairman of the Board and Chief Executive Officer Christopher Chapman, Jr., M.D. Out of respect and privacy for Dr. Chapman’s family, details of his passing will not be made available.

Telomir’s Board of Directors has named Erez Aminov, currently Chairman of the Board and Chief Executive Officer of MIRA Pharmaceuticals, Inc. (Nasdaq: MIRA), as a director, Chairman of the Board and Chief Executive Officer of Telomir.  

To offer support to Telomir’s new senior management, three Telomir directors have voluntarily resigned from the Telomir Board of Directors, and three individuals have been appointed as replacements. The new Telomir directors are Dr. Matthew P. Del Giudice, Mr. Ned MacPherson and Matthew Pratt Whalen, CPA. Dr. Craig Eagle and Michael Jerman, each sitting directors of Telomir, will remain on the Telomir Board of Directors. The resigning directors are Hugh McColl III, Talhia Tuck and Brad Kroenig.

Dr. Craig Eagle, an independent member of Telomir’s Board of Directors, stated: “The entire Telomir community is devastated by the loss of Dr. Chapman. Not only was he a founding officer and director of Telomir, but he was a leading scientist and researcher as well as a kind and decent man. Our thoughts and thanks go out to Dr. Chapman’s family. We are also grateful to Erez for joining our company to fill these important roles as Telomir continues to progress its business.”

Mr. Aminov stated, “Dr. Chapman’s passion for the potential of Telomir-1 is inspiring, and I hope to carry on with his work with that same passion. I appreciate the trust that the Telomir board has placed in me at this challenging time. I look forward to working with Telomir and moving its promising drug candidate forward.”

About Telomir Pharmaceuticals, Inc.

Telomir Pharmaceuticals, Inc. (Nasdaq:TELO) is a pre-clinical-stage pharmaceutical company focused on the development and commercialization of Telomir-1 as the first novel small molecule to lengthen the DNA’s protective telomere caps in order to potentially promote longevity in humans and dogs through the treatment of age-related conditions. Telomeres are the protective end caps of a chromosome made up of DNA sequences and proteins. As humans age, telomeres shorten, with metal reactivity accelerating the process, which presents us with an increased chance of contracting a number of degenerative and age-related diseases. Telomir’s goal is to develop and commercialize Telomir-1, proposed to be dosed orally, with the broader aim of promoting longevity and enhancing overall quality of life. The Nobel Assembly at Karolinska Institute (Sweden) awarded the Nobel Prize in Physiology or Medicine in 2009 for the discovery of how chromosomes are protected by telomeres and the enzyme telomerase.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding the appointment of Mr. Aminov to his positions with the Company.

Any forward-looking statements in this press release are based on Telomir's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the potential use of the data from our studies, our ability to develop and commercialize Telomir-1 and the aging process and safety of Telomir-1 . These and other risks concerning Telomir's programs and operations are described in additional detail in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which is on file with the SEC. Telomir explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

For further information, please contact:

Telomir Pharmaceuticals
info@Telomirpharma.com
(813) 864-2558

FAQ

Who is the new CEO and Chairman of Telomir Pharmaceuticals (TELO)?

Erez Aminov, currently the CEO and Chairman of MIRA Pharmaceuticals, has been appointed as the new CEO and Chairman of Telomir Pharmaceuticals (TELO).

What changes were made to Telomir Pharmaceuticals' (TELO) Board of Directors in August 2024?

Three directors resigned, and three new directors were appointed: Dr. Matthew P. Del Giudice, Mr. Ned MacPherson, and Matthew Pratt Whalen, CPA. Dr. Craig Eagle and Michael Jerman remained on the board.

What is the main focus of Telomir Pharmaceuticals (TELO)?

Telomir Pharmaceuticals (TELO) is a pre-clinical-stage company focused on developing Telomir-1, a drug candidate aimed at promoting longevity in humans and dogs through the treatment of age-related conditions.

What event prompted the leadership changes at Telomir Pharmaceuticals (TELO) in August 2024?

The leadership changes at Telomir Pharmaceuticals (TELO) were prompted by the passing of Chairman and CEO Dr. Christopher Chapman in August 2024.