Neuralstem Appoints Jim Scully as Interim Chief Executive Officer
August 06 2018 - 7:00AM
Neuralstem, Inc. (Nasdaq:CUR), a biopharmaceutical company focused
on the development of nervous system therapies based on its neural
stem cell and small molecule compound technologies, today announced
that the Board of Directors has appointed Jim Scully as interim
chief executive officer. Mr. Scully will assume the role effective
immediately and succeeds Mr. Rich Daly who served as president and
chief executive officer of the Company since February
2016.
“Jim’s contribution in 2018 heading up business development and
as strategic advisor for Neuralstem has been extremely valuable,
and we are confident that his appointment will ensure continued
momentum over the near-term as our dedicated search efforts
continue,” said Cristina Csimma, Chair of the Nominating Committee
of Neuralstem. “Jim is an experienced pharmaceutical executive with
a deep understanding of commercial, clinical development and
manufacturing operations and has worked with our team to advance
our Company’s efforts in China and rest-of-world.”
“I am very pleased to increase my responsibilities with
Neuralstem at this important time for the company, and I look
forward to working closely with the management team and the Board
to unlock the full potential of the Company’s promising pipeline
candidates, NSI-566 and NSI-189,” said Mr. Scully. “We continue to
believe that these candidates represent innovative approaches to
several unmet medical needs, and we look forward to providing
further updates on our progress in executing our strategic
plan.”
Mr. Scully’s experience spans multiple key strategic roles in
the healthcare industry. During his decade with Takeda
Pharmaceuticals, a leading global pharmaceutical company, Mr.
Scully assumed roles of increasing responsibility across multiple
functional areas, leading efforts in financial planning, global
business development, business analytics and corporate project
management. Mr. Scully has also held key roles at Astellas
Pharmaceuticals, Abbott Labs, GE Healthcare and Walgreens.
These roles included leadership of clinical development planning,
performance analytics and partnering initiatives.
The Board of Directors also appointed William Oldaker, as
Chairman. Mr. Oldaker has served as a director of Neuralstem since
April 2007. He is a founder and partner in the Washington, D.C. law
firm, Oldaker & Willison PLLP, and is a member of the Colorado,
D.C. and Iowa Bar Associations, the Bar Association for the Court
of Appeals, D.C., and the Bar of the United States Supreme
Court.
“I am excited to expand my role and continue to work with the
Board and the management team to execute on its exciting strategy
to become a leader in CNS and neural stem cell technology,” said
William Oldaker.
About Neuralstem
Neuralstem is a clinical-stage biopharmaceutical company
developing novel treatments for nervous system diseases of high
unmet medical need. The Company has two lead development
candidates:
- NSI-566 is a stem cell therapy being tested for treatment of
paralysis in stroke, Amyotrophic Lateral Sclerosis (ALS) and
chronic spinal cord injury (cSCI).
- NSI-189, is a small molecule in clinical development for major
depressive disorder and in preclinical development for Angelman
syndrome, irradiation-induced cognitive impairment, Type 1 and Type
2 diabetes, and stroke.
Neuralstem’s diversified portfolio of product candidates is
based on its proprietary neural stem cell technology.
Cautionary Statement Regarding Forward Looking
Information
This news release contains “forward-looking statements” made
pursuant to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
relate to future, not past, events and may often be identified by
words such as “expect,” “anticipate,” “intend,” “plan,” “believe,”
“seek” or “will.” Forward-looking statements by their nature
address matters that are, to different degrees, uncertain. Specific
risks and uncertainties that could cause our actual results to
differ materially from those expressed in our forward-looking
statements include risks inherent in the development and
commercialization of potential products, uncertainty of clinical
trial results or regulatory approvals or clearances, need for
future capital, dependence upon collaborators and maintenance of
our intellectual property rights. Actual results may differ
materially from the results anticipated in these forward-looking
statements. Additional information on potential factors that could
affect our results and other risks and uncertainties are detailed
from time to time in Neuralstem’s periodic reports, including the
Annual Report on Form 10-K for the year ended December 31, 2017
filed with the Securities and Exchange Commission (SEC), and in
other reports filed with the SEC. We do not assume any obligation
to update any forward-looking statements.
Contact:Argot Partners (Investor Relations) 212-600-1902
neuralstem@argotpartners.com
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