BOSTON and JERUSALEM, June 17, 2022 (GLOBE NEWSWIRE) — Entera Bio Ltd. (NASDAQ: ENTX), a leader in the development of orally-delivered peptide and protein therapeutics, today announced that Dr. Phillip Schwartz, the company’s President of Research & Development and Founder, will step down from his current role. starting July 21, 2022 to pursue other opportunities. Dr. Schwartz has also resigned from the Company’s Board of Directors, effective June 15, 2022. Dr. Schwartz’s resignation was not the result of a disagreement with the Company and Dr. Schwartz will remain as a consultant to of the society.
Bringing expertise from various development and commercialization roles at Merck KGaA-Serono and Endo Pharmaceuticals, Dr. Schwartz co-founded Entera Bio in 2009 and led the company as Chief Executive Officer until 2019 and its IPO in 2018. “We are grateful for Phillip’s vision and leadership which has been paramount to Entera’s progression from an early-stage R&D platform to a late-stage clinical company. with two core PTH programs in Phase 2/3 development and core R&D strategic partnerships, including with Amgen,” said Mr. Jerry Lieberman, Chairman of Entera’s Board of Directors. “Under Dr. Schwartz’s leadership, Entera Bio has successfully navigated more than a decade of persistent growth and we remain indebted to his experience and contributions. Over the past several months, Entera has announced new leadership that we believe will realize Dr. Schwartz’s vision for the company at this critical stage in its evolution.
“Growing from a two-person business in a small storage room in our apartment to a NASDAQ company with multiple clinical-stage assets and a number of significant collaborations with biotech and other pharma companies has been the adventure of a lifetime. The Entera team is like family and I will miss them dearly. I am very confident in the new management team and confident that they will be able to take Entera forward to its next stage of development. I want to express my gratitude to the Board of Directors and in particular to the Entera employees and team who have made this progress possible and who have been creative, supportive and just great to work with,” said the Dr. Schwartz.
“After more than 12 years as Founder, CEO and President of R&D, I believe the time has come for me to step down so that I can spend more time with my family and pursue other opportunities. I remain very excited about the Company’s prospects and the potential of our compounds to change the paradigm of treatment for patients with osteoporosis, hypoparathyroidism and other serious diseases Our lead compound, EB613, is entering pivotal clinical development 3 and has the potential to serve as the first oral anabolic for the treatment of osteoporosis.Currently, approximately 30% of the 15 million women with osteoporosis are on some form of treatment, and of these, only a fraction take any form of bone building agent/anabolic Being an oral medication is one of the main drivers of acceptance of osteoporosis treatment As such, a bone building agent Oral bone disease like EB613 has the potential to be transformative for a much broader base of osteoporotic patients. Likewise, EB612 is a highly differentiated therapeutic candidate for hypoparathyroidism that promises to greatly improve the treatment of this serious disease. With the development of these drugs, as well as an excellent validated technology platform for the development of other oral formulations of world-class biologic drugs, I am confident that the recent strengthening of Entera’s management team will succeed in achieve our strategic goals and increase shareholder value. I look forward to continuing to advise Entera in the future.
About Entera Bio
Entera is a leader in the development of orally-administered peptide and protein therapeutics for use in areas with high unmet medical needs and limited adoption of injectable therapies due to cost, convenience and compliance for patients. The company’s proprietary oral drug delivery technology is designed to address the technical challenges of low absorption, high variability and the inability to deliver large molecules to the targeted location in the body through the use of a synthetic uptake enhancer to facilitate absorption of large molecules and protease inhibitors to prevent enzymatic degradation and support delivery to targeted tissues. The Company’s most advanced product candidates, EB613 for the treatment of osteoporosis and EB612 for the treatment of hypoparathyroidism, are in clinical development. Entera also licenses its technology to biopharmaceutical companies for use with their proprietary compounds and to date has established a collaboration with Amgen Inc. For more information on Entera Bio, visit www.enterabio.com.
Various statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements (other than statements of historical facts) contained in this press release regarding our outlook, plans, our financial condition, business strategy and expected financial and operating results may constitute forward-looking statements. Words such as, but not limited to, “anticipate”, “believe”, “may”, “could”, “expect”, “estimate”, “design”, “aim”, “have the ‘intend to’, ‘may’, ‘could’, ‘goal’, ‘plan’, ‘predict’, ‘project’, ‘target’, ‘probable’, ‘should’, ‘will’ and ‘would’, or the negative of such terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based on current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Forward-looking statements should not be construed as a guarantee of future performance or results and may not be precise indications of when such performance or results will be achieved.
Important factors that could cause actual results to differ materially from those reflected in Entera’s forward-looking statements include, among others: changes in the interpretation of clinical data; the results of our clinical trials; the FDA’s interpretation and review of our results and analysis of our clinical trials; unexpected changes in our ongoing and planned preclinical development and clinical trials, timing and our ability to make regulatory filings and obtain and maintain regulatory approvals for our product candidates; potential disruption and delay of manufacturing supply chains; loss of available labor, either by Entera or its collaborative and laboratory partners; impacts on research and development or clinical activities that Entera is contractually obligated to provide, such as those under Entera’s agreement with Amgen; general regulatory timelines; the size and growth of potential markets for our product candidates; the scope, progress and development costs of Entera’s product candidates; Entera’s reliance on third parties to conduct its clinical trials; Entera’s expectations regarding licenses, business transactions and strategic collaborations; the operation of Entera as a development-stage company with a limited operating history; Entera’s ability to continue operations in the absence of access to sources of liquidity; Entera’s ability to obtain and maintain regulatory approval for any of its product candidates; Entera’s ability to comply with Nasdaq’s minimum listing standards and other matters relating to meeting the requirements of being a public company in the United States; Entera’s intellectual property position and ability to protect its intellectual property; and other factors described in the “Cautionary Notes Regarding Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Entera’s most recent annual report. on Form 10-K filed with the SEC, as well as quarterly reports subsequently filed on Form 10-Q and current reports on Form 8-K. There can be no assurance that the actual results or developments anticipated by Entera will be realized or, even if substantially realized, will have the consequences or effects anticipated on Entera. Accordingly, no assurance can be given that the results stated or implied by such forward-looking statements and estimates will be achieved. Entera cautions investors not to rely on any forward-looking statements made by Entera in this press release. The information in this release speaks only as of the date of this release, and Entera undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, events future or otherwise, except to the extent required. by the law.
Contact: Mr. Jerry Lieberman, Chairman of the Board Email: [email protected] Phone: (917) 684-1558 Ms. Miranda Toledano, Chief Business & Financial Officer Email: [email protected] Phone: +972-58-55-88-470