– ISRAEL, Rehovot – Purple Biotech Ltd. (TASE: PPBT | NASDAQ: PPBT), a clinical-stage company today announced the appointment of Ori Hershkovitz to its Board of Directors.
“We are thrilled to welcome Ori to the Purple Biotech Board of Directors. Ori has spent many years investing in and advising development-stage life sciences companies. We look forward to leveraging his industry and financial expertise as we continue to execute on our corporate growth initiatives,” said Board Chairman, Dr. Eric Rowinsky.
About Ori Hershkovitz
Ori Hershkovitz has held various positions in life sciences investment funds over many years. Currently, Mr. Hershkovitz is a board member and a senior advisor to private and public biotechnology and healthcare companies. From 2015 to 2019, Mr. Hershkovitz served as a Managing Partner and CIO of Nexthera Fund, a healthcare hedge fund based in New York, managing over $400 million in assets. From 2006 to 2014, he was the Founding Partner and Head of Research at Sphera Fund in Tel-Aviv, managing over $700 million in assets. From 2001 to 2006, Mr. Hershkovitz served as Senior Pharmaceutical Equity Analyst at Leader & Co. Investment House Ltd. in Tel Aviv, and from 1999 to 2001, he was a Pharmaceutical Equity Analyst at Ilanot Batucha Investment House Ltd. Mr. Hershkovitz currently serves on the Board of Directors of Matricelf Ltd. (TASE: MTLF), and from 2013 to 2016 was a member of the Board of Directors of MicroMedic Ltd. and Medigus Ltd.
“Purple Biotech has a compelling oncology-focused pipeline, highlighted by CM24 and NT219, with a great potential to transform the therapeutic options of many cancer patients. I look forward to working with the other members of the Board and the Company’s experienced management team to support Purple Biotech’s continued development and to drive long-term shareholder value,” commented Mr. Hershkovitz.
Mr. Hershkovitz holds a B.A degree in Business Administration and Finance from Tel Aviv University, and is a licensed investment advisor.
About Purple Biotech
Purple Biotech Ltd. is a clinical-stage company developing first-in-class therapies by overcoming tumor immune evasion and drug resistance. The Company’s oncology pipeline includes NT219 and CM24. NT219 is a dual inhibitor, a novel small molecule that simultaneously targets IRS1/2 and STAT3. The Company is currently advancing NT219 as monotherapy treatment of solid tumors, followed by a dose escalation of NT219 in combination with cetuximab for the treatment of recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer or colorectal adenocarcinoma in a phase 1/2 study, and an expansion phase of NT219 at its recommended phase 2 level in combination with cetuximab in patients with recurrent and/or metastatic squamous cell carcinoma of the head and neck cancer. CM24 is a humanized monoclonal antibody that blocks CEACAM1, an immune checkpoint protein that supports tumor immune evasion and survival through multiple pathways. The Company is advancing CM24 as a combination therapy with anti-PD-1 checkpoint inhibitors in selected cancer indications in a phase 1b study followed by a phase 2 for the treatment of non-small cell lung cancer and pancreatic cancer. The Company has entered into a clinical collaboration agreement, as amended, with Bristol Myers Squibb for the planned phase 1/2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab in patients with non-small cell lung cancer and in combination with nivolumab in addition to nab-paclitaxel in patients with pancreatic cancer. The Company is also the owner of Consensi, an FDA-approved fixed-dose combination of celecoxib and amlodipine besylate, for the simultaneous treatment of osteoarthritis pain and hypertension that was approved by the FDA for marketing in the U.S. The Company’s corporate headquarters are located in Rehovot, Israel.
For more information: https://purple-biotech.com/
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