Comprehensive restructuring positions NeuroEM Therapeutics for long-term success.
TAMPA, FL / ACCESSWIRE / November 16, 2023 / NeuroEM Therapeutics®, a leading clinical-stage biotechnology research company focused on developing proprietary Transcranial Electromagnetic Treatment leveraging Radio Frequencies (TEMT/TRFT) technologies against Alzheimer's disease and cognitive decline, announces its successful emergence from Chapter 11 reorganization. This milestone marks the final step in the company's comprehensive restructuring and solidly positions NeuroEM for sustained long-term success.
In connection with its emergence, NeuroEM has formed a new leadership team and Board of Directors comprised of senior executives with extensive sector expertise to guide its future strategic direction.
Chuck Papageorgiou, who has been instrumental in guiding the company through its restructuring phase, will transition from his role as Chief Restructuring Officer to take the helm as the company's new Chief Executive Officer. 'Now that our restructuring has been completed successfully, we are driving NeuroEM's future growth from a position of stability and strength,' Papageorgiou says. 'We have a strong operating model that will fuel the success of our growth and help us put a decade of ground-breaking research in the hands of the patients and families who need it most.'
Joining the leadership team are Tracy Ingram, Chief Operating and Information Officer; Amanda Patanow, Chief Marketing and Product Officer; and Marilyn Thompson, Chief Financial Officer. Elected to the Board are Mitch Lairmore and Jonathan Gordon, who will serve as the Chairman of the Board.
NeuroEM's founder, Dr. Gary Arendash, will be leaving his role as Chief Scientific Officer at the end of the year. Dr. Chuanhai Cao, who has served as the company's co-investigator for key clinical studies, will temporarily take over research efforts moving forward as NeuroEM continues to seek approval through the FDA Breakthrough Devices program, with help from ongoing NIH research funding.
'I am incredibly proud of all that we have achieved at NeuroEM over the years and I am committed to advancing the groundbreaking research that has defined this organization,' stated Cao. 'While our mission to prevent and treat Alzheimer's and neurodegenerative diseases remains constant, our scientific studies will drive innovative change in our relentless pursuit of healthier, extended lives worldwide.'
With renewed strength and a continued commitment to innovation and growth, this formidable team will continue the path toward commercializing NeuroEM's groundbreaking technology for the treatment of Alzheimer's disease and cognitive decline, striving to make a meaningful impact on patients and their families. The reorganized company is moving forward with a Series A round of fundraising.
'The funds raised during this round will play a pivotal role in advancing clinical trials, expanding our manufacturing capabilities, launching our devices, and furthering our outreach to healthcare professionals and patients,' said Papageorgiou. 'We know the immense potential of our technology and our people to revolutionize the treatment of Alzheimer's and cognitive decline, and we are determined to harness this potential to its fullest.'
About NeuroEM Therapeutics®
NeuroEM Therapeutics is leading the way in the development and clinical testing of bioengineered technology to reverse the cognitive decline associated with Alzheimer's disease and other neurodegenerative conditions. Built upon a decade of groundbreaking research conducted at Tampa-based research facilities at the University of South Florida (USF), the company received the first Breakthrough Device status from the U.S. Food and Drug Administration (FDA) to treat Alzheimer's disease. NeuroEM's continued dedication to cutting-edge research is bringing to market a first-in-class wearable device designed for in-home use to extend healthy longevity using patented Transcranial Electromagnetic Treatment (TEMT) technology. To learn more, visit www.neuroem.com.
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SOURCE: NeuroEM Therapeutics
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