Source: Facebook
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Paul Brennan will step down as President & Chief Executive Officer
  • Executive Chairman of the Board Bill Radvak as interim CEO and current Board member
  • Dr. Adam Rogers has been appointed as interim President
  • NervGen is a biotech company dedicated to creating treatments for nerve damage and neurodegenerative diseases
  • NervGen Pharma Corp. (NGEN) opened trading at C$1.85

NervGen Pharma Corp. (NGEN) has announced several leadership changes.

Paul Brennan will step down as President & Chief Executive Officer and a member of the Board, effective immediately. Brennan will serve as a strategic advisor to management and the Board during the transition period. 

The Board of Directors has appointed current Executive Chairman of the Board Bill Radvak as interim CEO and current Board member. 

Dr. Adam Rogers has been appointed as interim President. The Board has initiated a search for a permanent CEO.

“On behalf of the Board of Directors and shareholders of NervGen, I would like to thank Paul for his hard work and many contributions to NervGen over the past three years,” said Mr. Radvak.

“Under Paul’s leadership, NervGen has evolved from a pre-clinical company focused primarily on spinal cord injury to a clinical company with three active clinical development programs underway focused more broadly on repairing nervous system damage from both traumatic injuries and neurodegenerative disease. With a Phase 1 safety study actively enrolling patients, multiple Phase 2 clinical trials in development with anticipated readouts beginning in 2024, and a cash balance of $25 million, the largest in the company’s history, Paul has helped position NervGen to become a leading player in the emerging central nervous system repair field. We look forward to working with him during this transition period and wish him the best in his future endeavours.”

Mr. Brennan commented,

“It has been a privilege to serve as President & CEO of NervGen over the past three years, working hand in hand with a strong dedicated team, the company’s Board of Directors, and our scientific founder, Dr. Jerry Silver and his team through our scientific partnership with Case Western Reserve University. I am excited by the tremendous potential that NervGen’s technology and clinical pipeline offer for patients suffering from damage to their nervous system and am encouraged by the clinical safety data as well as the latest compelling preclinical data generated in important new indications. I look forward to supporting the Board and management through this transition.”

Adam Rogers, MD, is a Principal of Boston-based PFP Biosciences Holdings and a board-certified ophthalmologist specializing in diseases and surgery of the retina and vitreous. Dr. Rogers co-founded Hemera Biosciences in 2010, a clinical-stage gene therapy company targeting dry age-related macular degeneration. He assumed the role of CEO in 2017 and oversaw all aspects of Hemera until it was acquired in December 2020 by Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson.

Dr. Rogers stated,

“I am looking forward to working with Bill and the NervGen team to accelerate the company’s mission of delivering meaningful treatment advances to patients suffering from CNS injury and neurodegenerative disease. I am grateful to be able to leverage my experience leading a biotech company through the development, clinical and regulatory process. As NervGen evolves into a mid-stage clinical company in areas that desperately need new therapeutic treatment options, I am both optimistic and excited about the future of the company.”

NervGen is a biotech company dedicated to creating treatments for nerve damage and neurodegenerative diseases.

NervGen Pharma Corp. (NGEN) opened trading at C$1.85.


More From The Market Herald

" Revive Therapeutics (CSE:RVV) updates Bucillamine in treating COVID-19

Revive Therapeutics (RVV) announced an update of its Food and Drug Administration (FDA) phase three clinical trial for Bucillamine.
The Market Herald Video

" BioVaxys (CSE:BIOV) signs binding term sheet for distribution of Papilocare in the U.S.

BioVaxys Technology Corp. (BIOV) has signed a binding term sheet with Procare Health Iberia, S.L. of Barcelona, Spain.

" Satellos Bioscience (TSXV:MSCL) announces OTCQB listing

Common shares of Satellos Bioscience (MSCL) have commenced trading on the OTCQB Venture Market (OTCQB) under the symbol MSCLF.
Innocan Pharma - CEO Iris Bincovish

" Innocan Pharma (CSE:INNO) patent application for treatment of psoriasis of the scalp goes national

Innocan Pharma’s (INNO) patent application, which claims cannabinoid-based topical compositions can treat psoriasis of the scalp, has reached the national phase.