Alpha Cognition Announces CFO Change, Stock Option Grant and Addition to Board of Directors

0

VANCOUVER, British Columbia, April 12, 2022–(BUSINESS WIRE)–Alpha Cognition Inc. (TSX-V: ACOG) (OTCQB: ACOGF) (“Alpha Cognition” or the “Company”), a biopharmaceutical company committed to developing new therapies that have the potential to transform the lives of people with debilitating neurodegenerative disorders, today announced the appointment of Don Kalkofen as Chief Financial Officer ( CFO) to replace Jeremy Wright. Mr. Wright will continue to assist the Company as a consultant.

Mr. Kalkofen brings extensive leadership experience in the biotechnology industry, including a successful track record in finance, business development and strategic leadership. As Alpha Cognition’s Chief Financial Officer, Mr. Kalkofen will direct all aspects of the company’s financial operations and play a critical role in supporting corporate strategy.

“I am delighted to welcome Don as a new member of our leadership team,” said Michael McFadden, CEO of Alpha Cognition. “Don’s considerable experience in corporate finance, as well as his track record of successfully supporting the development funding of clinical-stage biotechnology companies, will be critical as we move into the next phase of growth. of the society. »

Mr. Kalkofen’s experience includes twenty years as a financial director in public and private companies. Prior to joining Alpha Cognition, Mr. Kalkofen most recently served as Chief Financial Officer of Protagonist Therapeutics Inc. (Nasdaq: PTGX), a publicly traded biopharmaceutical company where he was instrumental in supporting its capital financings and by borrowing, exceeding $550 million. Mr. Kalkofen has also held key leadership positions including CFO of several global financial services and SAAS companies, as well as supporting global medical device and specialty pharmaceutical companies in key financial areas. He began his career at PricewaterhouseCoopers, earned his bachelor’s degree in accounting from Washington State University, and is a Certified Public Accountant and Certified Global Management Accountant.

“I am thrilled to join Alpha Cognition at such a critical time, when we have several programs moving forward in clinical development, each with the potential to set a new standard of care for patients.” said Mr. Kalkofen. “I look forward to working with the team to support the creation of a fully integrated biopharmaceutical company that brings medicines to market for patients where there is significant unmet need, and that drives value at long term for shareholders.

In connection with Mr. Kalkofen’s appointment as the Company’s Chief Financial Officer, he was granted 450,000 stock options under the Company’s stock option plan. Company, exercisable at a price of C$0.93 for a period of ten years from the date of grant, subject to certain vesting provisions.

The Company also announces at this time that Michael McFadden, CEO of the Company, has been appointed to the Board of Directors.

About Alpha Cognition Inc.

Alpha Cognition Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for patients with neurodegenerative diseases, such as Alzheimer’s disease and amyotrophic lateral sclerosis (ALS), for which treatment options are limited. .

ALPHA-1062, is a new proprietary chemical entity under development as a next-generation acetylcholinesterase inhibitor for the treatment of Alzheimer’s disease, with expected minimal gastrointestinal side effects. The active metabolite of ALPHA-1062 differs from donepezil and rivastigmine in that it binds to neuronal nicotinic receptors, notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer’s dementia and as an intranasal formulation for traumatic brain injury.

ALPHA-0602 (Progranulin) is expressed in multiple cell types in the central nervous system and peripheral tissues, promotes cell survival, regulates certain inflammatory processes, and plays an important role in regulating lysosomal function and microglial responses to disease . Its intended use for the treatment of neurodegenerative diseases has been patented by the Company and Alpha-0602 has been granted orphan drug designation for the treatment of ALS by the FDA.

Neither the TSX Venture Exchange (the “TSX-V”), OTC Markets Group, nor the Regulation Services Provider of the TSX-V (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This press release is not and should not be construed as an advertisement or a public offering of securities. No securities commission or similar authority in Canada or any other jurisdiction has reviewed or in any way adopted this press release or the merits of the securities described herein and any representation to the contrary is an infringement.

This press release contains forward-looking statements within the meaning of applicable securities laws. Except for statements of historical fact, any information contained in this press release may be a forward-looking statement that reflects the Company’s current views regarding future events and is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause results, levels of activity, performance or achievements to differ materially from the information expressed or implied by such forward-looking statements. Forward-looking statements can be identified by the words “may”, “could”, “will”, “could”, “should”, “should”, “expect”, “intend”, “plan “, “objective”, “anticipate”, “believe”, “estimate”, “predict”, “project”, “potential”, “target”, “seek”, “contemplate”, “continue” and “in progress” , or the negative of these terms , or other comparable terminology intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding the company’s business strategy, market size, potential growth opportunities, capital requirements, clinical development activities, timing and results of clinical trials. , regulatory submissions, potential regulatory approval and technology commercialization. Although the Company believes that we have a reasonable basis for each forward-looking statement, we caution you that such statements are based on a combination of facts and factors currently known to us and our expectations for the future, of which we cannot be some. The Company cannot guarantee that actual results will be consistent with these forward-looking statements due to known and unknown risks, uncertainties, assumptions and other factors. These risks, uncertainties, assumptions and other factors include those associated with clinical studies and the manufacturing, as well as the development and commercialization of the Company’s products; the need for additional funding to maintain operations; the risks posed by the economic and political environments in which the Company operates and intends to operate; market instability due to the COVID-19 pandemic; the potential for losses from expanding operations into new markets; increased competition; assumptions regarding market trends and expected demand and desires for the Company’s products and the products offered; dependence on manufacturers, suppliers and key industry personnel; failure to adequately protect intellectual property; an inability to adequately manage future growth; adverse market conditions; and failure to meet ongoing regulatory requirements or obtain regulatory approvals. These forward-looking statements speak only as of the date of this press release and, except as required by applicable securities laws, the Company undertakes no obligation to revise or update any forward-looking statements, even if new information becomes available in the future. .

This press release may also contain estimates and other statistical, market and industry data from independent parties or made by the Company regarding our industry. These data involve a number of assumptions and limitations, and you are cautioned not to place undue weight on these estimates. We cannot guarantee the accuracy and completeness of information from third party sources.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220412005492/en/

contacts

Bristol Investor Relations
Stefan Eftychiou
905 326 1888 extension 6
[email protected]
https://www.alphacognition.com/

Share.

Comments are closed.