News
CervoMed will appoint William Elder as chief financial officer
CervoMed Inc.
BOSTON, May 20, 2024 (GLOBE NEWSWIRE) — CervoMed Inc. (NASDAQ: CRVO), a clinical-stage company focused on developing treatments for age-related neurological disorders, today announced the appointment of William (Bill) Elder as Chief Financial Officer, effective June 1, 2024. Mr. Elder will continue to serve as General Counsel and Corporate Secretary. He will succeed William Tanner, who has served as Chief Financial Officer of CervoMed and its predecessor, EIP Pharma, since September 2022. Mr. Tanner will continue as an advisor to CervoMed following the transition.
“Bill’s deep biopharmaceutical and financial experience and strong track record of enhancing operational capabilities make him the ideal choice for CervoMed at this critical inflection point,” said John Alam, MD, CEO of CervoMed. “I would also like to extend my gratitude to William Tanner, who was instrumental in the successful listing of CervoMed on NASDAQ and in strengthening our financial resources through our recent financing. We believe we are now well positioned for a year of clinical and operational success, with completion of enrollment for the RewinD-LB Phase 2b clinical trial expected in the second quarter of this year, followed by top-line efficacy results expected in the fourth quarter 2024. We look forward to leveraging Bill’s strategic leadership across key business functions to build on our strong financial platform and deliver on the promise of neflamapimod as a highly differentiated and potentially market-first treatment option for patients with DLB.”
Mr. Elder added, “I am honored to serve as CFO during this exciting time in CervoMed’s growth trajectory. I look forward to contributing to CervoMed’s continued success and working closely with the entire team to achieve our goal of delivering long-term shareholder value and, ultimately, improving the lives of our patients.”
Mr. Elder has served as General Counsel and Corporate Secretary of the Company since September 2020 and as the Company’s Interim Chief Financial Officer since March 2024. Mr. Elder also previously served as Chief Financial Officer of Diffusion Pharmaceuticals Inc. from 2023 to August 2023 and as a part-time consultant to Diffusion from July 2020 to September 2020. Previously, Mr. Elder spent eight years as a corporate and securities associate at Dechert LLP, an international law firm, where his practice in advising public companies on securities laws and regulatory requirements, corporate governance issues, and financial transactions in the equity and debt markets. Prior to joining Dechert LLP, Mr. Elder served as an analyst at Creative Financial Group, a full-service financial planning and consulting firm focused on advising high-net-worth individuals. He received his JD from the University of Pennsylvania Law School, a master’s degree in finance from Villanova University, and a bachelor’s degree in economics from Tufts University.
The story continues
About CervoMed
(the “Company”) is a clinical-stage company focused on developing treatments for age-related neurological disorders. The company is currently developing neflamapimod, an experimental, orally administered, small-molecule brain penetrant that inhibits p38MAP kinase alpha. Neflamapimod has the potential to treat synaptic dysfunction, the reversible aspect of the underlying neurodegenerative processes that causes disease in DLB and some other important neurological disorders. Neflamapimod is currently being evaluated in a Phase 2b study in patients with MCI.
Forward-Looking Statements
This press release includes express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, regarding the Company’s intentions, plans, beliefs, expectations or forecasts for the future, including, but not limited to, not limited to the therapeutic potential of neflamapimod and the anticipated timing and achievement of clinical and development milestones, including the completion and achievement of primary endpoints of the Company’s Phase 2b clinical trial. Terms such as “believe,” “estimate,” “anticipate,” “expect,” “plan,” “intend,” “may,” “could,” “could,” “will,” “should,” “approximately,” “Potential” or other words that convey uncertainty of future events or results may identify these forward-looking statements. Although we believe that there is a reasonable basis for each forward-looking statement contained herein, forward-looking statements, by their nature, involve known and unknown risks and uncertainties, many of which are beyond the control of the Company and, as a result, actual results may differ materially from those expressed or implied in any forward-looking statement. Specific risks and uncertainties include, among other things, those relating to: the Company’s available cash resources and the availability of additional funds on acceptable terms; the results of the Company’s clinical trials; the likelihood and timing of any regulatory approval of neflamapimod or the nature of any feedback the Company may receive from the U.S. Food and Drug Administration; the ability to implement business plans, forecasts and other expectations into the future; general economic, political, business, industrial and market conditions, inflationary pressures and geopolitical conflicts; and the other factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (SEC) on March 29, 2024 , and other filings that the Company may file from time to time with the SEC. Any forward-looking statements in this press release speak only as of the date hereof (or such earlier date as may be identified). The Company undertakes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except to the extent required by law.
Investor Contact:
PJ Kelleher
LifeSci Advisors
investors@cervomed.com
617-430-7579
