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Windtree Announces Leadership Transition Plan With Industry Veterans

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Windtree Therapeutics (NASDAQ: WINT) announced a leadership transition as CEO Craig Fraser plans to retire effective December 1, 2024, after nearly nine years of service. Fraser will remain as Board Chairman while Jed Latkin, a current director, will assume the CEO position. During Fraser's tenure since 2016, the company achieved several milestones including clinical studies, Nasdaq uplisting, and various transactions. Latkin brings nearly three decades of financial and biotech experience, including previous CEO roles at Navidea Biopharmaceuticals and Black Elk Energy Offshore, with extensive experience in dealmaking and fund raising.

Windtree Therapeutics (NASDAQ: WINT) ha annunciato un cambiamento nella leadership poiché il CEO Craig Fraser prevede di andare in pensione a partire dal 1 dicembre 2024, dopo quasi nove anni di servizio. Fraser rimarrà Presidente del Consiglio mentre Jed Latkin, attuale direttore, assumerà il ruolo di CEO. Durante il mandato di Fraser, iniziato nel 2016, l'azienda ha raggiunto diversi traguardi, tra cui studi clinici, l'ingresso in Nasdaq e varie transazioni. Latkin porta con sé quasi tre decenni di esperienza nel settore finanziario e biotecnologico, comprese precedenti posizioni da CEO in Navidea Biopharmaceuticals e Black Elk Energy Offshore, con ampia esperienza nella negoziazione di affari e nel fundraising.

Windtree Therapeutics (NASDAQ: WINT) anunció una transición en el liderazgo, ya que el CEO Craig Fraser planea retirarse efectivo el 1 de diciembre de 2024, después de casi nueve años de servicio. Fraser permanecerá como Presidente de la Junta mientras que Jed Latkin, actual director, asumirá el puesto de CEO. Durante el período de Fraser desde 2016, la compañía logró varios hitos, incluyendo estudios clínicos, listado en Nasdaq y diversas transacciones. Latkin aporta casi tres décadas de experiencia en finanzas y biotecnología, incluyendo roles anteriores como CEO en Navidea Biopharmaceuticals y Black Elk Energy Offshore, con amplia experiencia en la realización de negocios y recaudación de fondos.

윈드트리 테라퓨틱스 (NASDAQ: WINT)는 CEO 크레이그 프레이저가 2024년 12월 1일부로 은퇴할 계획이라고 발표하며 리더십 전환을 알렸습니다. 프레이저는 이사회를 계속 이끌면서, Jed Latkin, 현재 이사가 CEO 자리를 맡게 됩니다. 프레이저의 임기 동안인 2016년 이래로 회사는 임상 연구, 나스닥 상장, 다양한 거래를 포함한 여러 이정표를 달성했습니다. 라트킨은 나비데아 생명공학과 블랙 엘크 에너지 오프쇼어에서의 CEO 역할을 포함하여, 30년 가까운 금융 및 생명공학 경험을 보유하고 있으며, 거래 및 자금 조달에서 폭넓은 경험을 가지고 있습니다.

Windtree Therapeutics (NASDAQ: WINT) a annoncé une transition de leadership alors que le PDG Craig Fraser prévoit de prendre sa retraite à partir du 1er décembre 2024, après près de neuf ans de service. Fraser restera Président du Conseil tandis que Jed Latkin, directeur actuel, assumera le poste de PDG. Pendant le mandat de Fraser depuis 2016, l'entreprise a atteint plusieurs étapes, notamment des études cliniques, l'inscription sur le Nasdaq et diverses transactions. Latkin apporte près de trois décennies d'expérience dans la finance et les biotechnologies, y compris des précédents rôles de PDG chez Navidea Biopharmaceuticals et Black Elk Energy Offshore, avec une vaste expérience en négociation et en levée de fonds.

Windtree Therapeutics (NASDAQ: WINT) gab einen Führungswechsel bekannt, da CEO Craig Fraser plant, am 1. Dezember 2024 in den Ruhestand zu gehen, nach fast neun Jahren im Dienst. Fraser wird weiterhin Vorsitzender des Vorstands sein, während Jed Latkin, ein aktueller Direktor, die Position des CEO übernehmen wird. Während Frasers Amtszeit seit 2016 erreichte das Unternehmen mehrere Meilensteine, einschließlich klinischer Studien, Nasdaq-Notierung und verschiedenen Transaktionen. Latkin bringt fast drei Jahrzehnte an Erfahrung in den Bereichen Finanzen und Biotechnologie mit, einschließlich früherer CEO-Rollen bei Navidea Biopharmaceuticals und Black Elk Energy Offshore, mit umfassender Erfahrung in der Vertragsgestaltung und Mittelbeschaffung.

Positive
  • Leadership continuity maintained with Fraser remaining as Board Chairman
  • New CEO brings significant biotech industry experience and proven fundraising track record
  • Planned and orderly transition indicates organizational stability
Negative
  • None.

Jed Latkin to transition to CEO

WARRINGTON, Pa., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT), a biotechnology company focused on advancing early and late-stage innovative therapies for critical conditions and diseases, today announced that Craig Fraser plans to retire from his role as Chief Executive Officer, effective December 1, 2024, after nearly nine years of distinguished service to the Company. Mr. Fraser will remain on the Board of Directors of the Company as Chairman. The Company’s Board has appointed Jed Latkin, a current director of the Company, to replace Mr. Fraser as CEO and Mr. Latkin will also remain a member of the Board.

Mr. Fraser has served as the CEO of Windtree since January of 2016 and oversaw numerous clinical studies, an uplisting to Nasdaq and several transactions and licenses as the Company became a late-stage cardiovascular-focused company. “In planning a transition, the question of timing as well as a successor has always been a key consideration for me,” said Mr. Fraser, current Chairman and CEO of Windtree. “The Company is in a good place with its lead program and having someone as experienced and strong as Jed, who also knows the team and program and is a talented dealmaker, is ideal. I look forward to supporting Jed and the team for a smooth transition and continuing to contribute to the Company mission from my position on the board.”

Mr. Latkin has nearly three decades of financial and biotech experience that includes being CEO of a public biotech company. Mr. Latkin served as the CEO of Navidea Biopharmaceuticals where he executed deals and raised substantial funds after starting there as the Chief Financial Officer. He has also been the Chief Operating Officer and head of finance at ProPhase Labs for the past two years, conducting deals and managing broad aspects of the business. He served as a CEO of Black Elk Energy Offshore in 2014 as part of Nagel Avenue Capital which he joined after ten years on Wall Street with a variety of investment banking organizations and funds, including ING, Morgan Stanley and Citigroup Securities.

“I am excited to be joining Windtree full time as its CEO to create value and lead the company into the next stage of growth and progress,” said Mr. Latkin. “Istaroxime and the SERCA2a activator platform have delivered compelling clinical and preclinical results and represent a significant opportunity to create value and be important new therapies. Along with our early pipeline in the area of oncology and a very experienced team, the Company has the right ingredients to make 2025 and beyond very rewarding.”

About Istaroxime
Istaroxime is a first-in-class dual-mechanism therapy designed to improve both systolic and diastolic cardiac function. Istaroxime is a positive inotropic agent that increases myocardial contractility through inhibition of Na+/K+- ATPase with a complimentary mechanism that facilitates myocardial relaxation through activation of the SERCA2a calcium pump on the sarcoplasmic reticulum enhancing calcium reuptake from the cytoplasm. Data from multiple Phase 2 studies in patients with early cardiogenic shock or acute decompensated heart failure demonstrate that istaroxime infused intravenously significantly improves cardiac function and blood pressure without increasing heart rate or the incidence of cardiac rhythm disturbances.

About Windtree Therapeutics, Inc.
Windtree Therapeutics, Inc. is a biotechnology company focused on advancing early and late-stage innovative therapies for critical conditions and diseases. Windtree’s portfolio of product candidates includes istaroxime, a Phase II candidate with SERCA2a activating properties for acute heart failure and associated cardiogenic shock, preclinical SERCA2a activators for heart failure and preclinical precision aPKCi inhibitors that are being developed for potential in rare and broad oncology applications. Windtree also has a licensing business model with partnership out-licenses currently in place.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are based on information available to the Company as of the date of this press release and are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. Examples of such risks and uncertainties include, among other things: the Company’s ability to secure significant additional capital as and when needed; the Company’s ability to achieve the intended benefits of the aPKCi asset acquisition with Varian Biopharmaceuticals, Inc.; the Company’s risks and uncertainties associated with the success and advancement of the clinical development programs for istaroxime and the Company’s other product candidates, including preclinical oncology candidates; the Company’s ability to access the debt or equity markets; the Company’s ability to manage costs and execute on its operational and budget plans; the results, cost and timing of the Company’s clinical development programs, including any delays to such clinical trials relating to enrollment or site initiation; expectations regarding the Company’s new Chief Executive Officer; risks related to technology transfers to contract manufacturers and manufacturing development activities; delays encountered by the Company, contract manufacturers or suppliers in manufacturing drug products, drug substances, and other materials on a timely basis and in sufficient amounts; risks relating to rigorous regulatory requirements, including that: (i) the U.S. Food and Drug Administration or other regulatory authorities may not agree with the Company on matters raised during regulatory reviews, may require significant additional activities, or may not accept or may withhold or delay consideration of applications, or may not approve or may limit approval of the Company’s product candidates, and (ii) changes in the national or international political and regulatory environment may make it more difficult to gain regulatory approvals and risks related to the Company’s efforts to maintain and protect the patents and licenses related to its product candidates; risks that the Company may never realize the value of its intangible assets and have to incur future impairment charges; risks related to the size and growth potential of the markets for the Company’s product candidates, and the Company’s ability to service those markets; the Company’s ability to develop sales and marketing capabilities, whether alone or with potential future collaborators; the rate and degree of market acceptance of the Company’s product candidates, if approved; the economic and social consequences of the COVID-19 pandemic and the impacts of political unrest, including as a result of geopolitical tension, including the conflict between Russia and Ukraine, the People’s Republic of China and the Republic of China (Taiwan), and the evolving events in the Middle East, and any sanctions, export controls or other restrictive actions that may be imposed by the United States and/or other countries which could have an adverse impact on the Company’s operations, including through disruption in supply chain or access to potential international clinical trial sites, and through disruption, instability and volatility in the global markets, which could have an adverse impact on the Company’s ability to access the capital markets. These and other risks are described in the Company’s periodic reports, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. 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.

Contact Information:
Eric Curtis
ecurtis@windtreetx.com


FAQ

When will Craig Fraser retire as CEO of Windtree Therapeutics (WINT)?

Craig Fraser will retire as CEO of Windtree Therapeutics effective December 1, 2024.

Who is the new CEO of Windtree Therapeutics (WINT)?

Jed Latkin, a current director of Windtree Therapeutics, will become the new CEO effective December 1, 2024.

What experience does new Windtree (WINT) CEO Jed Latkin have?

Jed Latkin has nearly three decades of financial and biotech experience, including roles as CEO of Navidea Biopharmaceuticals and Black Elk Energy Offshore, and COO at ProPhase Labs.

Will Craig Fraser remain with Windtree Therapeutics (WINT) after stepping down as CEO?

Yes, Craig Fraser will remain with Windtree Therapeutics as Chairman of the Board of Directors.

Windtree Therapeutics, Inc.

NASDAQ:WINT

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Biotechnology
Biological Products, (no Disgnostic Substances)
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United States of America
WARRINGTON