Windtree Therapeutics Appoints Mark Strobeck, Ph.D. to Board of Directors

WARRINGTON, Pa., June 27, 2023 (GLOBE NEWSWIRE) -- Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT), a biotechnology company focused on advancing late-stage interventions for cardiovascular disorders, today announced that the Company appointed Mark Strobeck, Ph.D. to its Board of Directors.

Dr. Strobeck has more than 20 years of experience in operations, business development, capital raising and M&A and has a track record of success creating and building value for emerging and public biotechnology and life sciences companies. Currently, Dr. Strobeck is President and CEO, and a Member of the Board, at Rockwell Medical, a publicly held healthcare company that develops, manufactures, commercializes, and distributes a portfolio of hemodialysis products for dialysis providers worldwide. Prior to joining Rockwell in 2022, Dr. Strobeck was a Managing Partner at Aquilo Partners, a life science investment banking firm specializing in M&A and strategic partnering transactions. Additionally, he was COO at Zyla Lifesciences (acquired by Assertio Therapeutics), President and CEO of Corridor Pharmaceuticals (acquired by AstraZeneca), and CBO of Topaz Pharmaceuticals (acquired by Sanofi Pasteur). Dr. Strobeck also served as CBO of Trevena, and Vice President of Business Development at GSK where he was responsible for numerous transactions. Earlier in his career, he worked at two venture capital firms, SR One and EuclidSR Partners making investments in drug discovery and drug development companies. Dr. Strobeck completed a post-doctoral fellowship in cardiovascular medicine at the University of Pennsylvania, earned a Ph.D. in pharmacology and cell biophysics from the University of Cincinnati, and earned his bachelor's degree in biology from St. Lawrence University.

Craig Fraser, Windtree's President and Chief Executive Officer said, “We are pleased to welcome Mark as a new independent director to Windtree's Board of Directors. Mark's R&D background, combined with his broad professional and deal experience, will be invaluable for Windtree as we work to advance our clinical development programs and pursue transactions that will potentially drive value for our shareholders. Mark will be highly complementary to our existing Board of Directors which includes Dan Geffkin, Leslie Williams, Dr. Rob Scott and myself, as we continue to advance therapies to treat critically-ill cardiac patients.”

"I am excited to join Craig and the Windtree team and support their strategy and vision going forward," said Dr. Strobeck. "There is a significant unmet medical need in the cardiovascular space, and I am excited by istaroxime's unique mechanism of action and pharmacological profile. Windtree's portfolio has the potential to significantly benefit patients suffering from cardiovascular disease. The Company has a number of strategic opportunities and clinical milestones ahead and I look forward to supporting Windtree to help drive value for patients and shareholders."

About Windtree Therapeutics, Inc.

Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT) is advancing multiple late-stage interventions for cardiovascular disorders to treat patients in moments of crisis. Using new scientific and clinical approaches, Windtree is developing a multi-asset franchise anchored around compounds that have an ability to activate SERCA2a. The Company's lead candidate is istaroxime, a first-in-class treatment for acute heart failure and for early cardiogenic shock. Windtree’s heart failure platform also includes follow-on oral pre-clinical SERCA2a activator assets. In pulmonary care, Windtree has focused on facilitating the transfer of the KL4 surfactant platform, to its licensee, Lee’s Pharmaceutical (HK) Ltd. Windtree’s portfolio also includes rostafuroxin, a novel precision drug product targeting hypertensive patients with certain genetic profiles.

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. Forward-looking statements may include, without limitation, statements regarding the Company’s expectations with respect to market conditions, the timing and completion of the Offering and the intended use of net proceeds from the Offering. 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, but are not limited to: risks and uncertainties associated with the economic and social consequences of the COVID-19 pandemic, including any adverse impact on the Company’s clinical trials, clinical trial timelines or disruption in supply chain; the success and advancement of the clinical development programs for istaroxime and the Company’s other product candidates; the Company’s ability to secure significant additional capital as and when needed; and the Company’s ability to access the debt or equity 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:

Monique Kosse
LifeSci Advisors
212.915.3820 or monique@lifesciadvisors.com