– USA, NY – Olatec Therapeutics LLC, a leader in the developing class of selective NLRP3 inhibitors, today announced the election of senior advisor to The Goldman Sachs Group Greg Palm to its Board of Directors concurrent with a substantial equity investment in the Company.
“Greg’s brilliant intellect, character and expertise make him an ideal addition to our Board of Directors. Greg brings five decades of experience in advising clients and organizing governance and management structures. I believe Greg will make valuable contributions as the Company continues to execute on its first-in-class strategy and seeks partnership opportunities within the pharmaceutical industry,” said CEO & Chairman, Damaris Skouras.
“All of us at Olatec are impressed with the fundamental understanding Greg demonstrated in evaluating the potential for dapansutrile and our OLT Analogues to become a breakthrough in the field of inflammation therapeutics. Together with Greg, we reviewed comprehensive datasets from our human and animal studies, including gouty arthritis, heart failure, asthma, Alzheimer’s disease, spinal cord injury, and breast and melanoma cancers. We are very pleased that Greg is joining us.” said CSO Dr. Charles Dinarello.
About Greg Palm
Prior to his becoming a senior advisor to Goldman Sachs in 2018, Greg Palm served as a member of Goldman Sachs’ Management Committee beginning in 1999, when the firm became a public company, and as its General Counsel from 1992 when he joined the firm and was elected a partner. During his tenure at Goldman Sachs, Greg also chaired or was a member of various other firm-wide committees, including its Risk, Business Practices, Global Control and Compliance, and Operating Committees. Before joining Goldman Sachs, Greg was a partner in Sullivan & Cromwell, advising a variety of U.S. and foreign-based corporate and financial institution clients on matters relating to mergers and acquisitions, financings, joint ventures, and corporate governance.
Greg received an SB from MIT and a JD and MBA from Harvard.
Greg Palm commented, “Olatec is developing an impressive platform of drug candidates. These drug candidates I believe have the potential if approved, to address certain of the major diseases in our society today that are now known to be driven by inflammation. Co-founder and CEO, Damaris B. Skouras, has built an impressive and experienced drug development team, and I am delighted to join Olatec as a Director. My objective is to assist the Company in furthering its mission of establishing dapansutrile as a first-in-class, NLRP3 inhibitor for a broad range of diseases, with the ultimate goal of meaningfully improving patient outcomes and thereby peoples’ lives globally.”
About Olatec Therapeutics LLC
Olatec is a privately held, clinical-stage biopharmaceutical company developing a platform of oral NLRP3 inhibitors to treat and prevent a broad spectrum of acute and chronic inflammatory diseases known to be mediated by IL-1. In addition to the lead compound, dapansutrile, Olatec’s platform of proprietary compounds includes approximately 60 analogs being screened as viable drug candidates. An IP portfolio protecting Olatec’s compounds consists of over 130 patents granted, covering dapansutrile and OLT Analogues. Olatec’s drug development team is comprised of experienced management and international experts in translational medicine with unparalleled expertise in inflammation and immunology and has been involved in the discovery and development of first-line inflammation treatments in the market today.
For more information: http://www.olatec.com/
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