ENGLEWOOD, Colo., Nov. 22, 2021 /PRNewswire/ -- Ampio
Pharmaceuticals (NYSE American: AMPE), a biopharmaceutical
company focused on the advancement of immunomodulatory therapies
for prevalent inflammatory conditions, today announced that
Mike Macaluso is taking a one-year
medical leave of absence from his role as Chairman and CEO,
effective immediately. Today's announcement follows Mr. Macaluso's
disclosure in October, 2021, that he was undergoing medical
treatment.
Ampio Board member Michael
Martino has been appointed as Interim Chairman of the Board
of Directors and CEO, effective immediately. Holli Cherevka continues in her role as
President and COO.
"After careful consideration, I have decided to take a medical
leave to focus on my health," said Mike
Macaluso. "I feel confident in the ability of Michael Martino, as Interim Chairman and CEO,
and our highly skilled management team and employees at Ampio, to
lead the Company forward."
Macaluso continued, "Mr. Martino has held a broad range of roles
at multibillion-dollar specialty pharmaceutical companies. He has
also served as CEO of small drug development companies, both
private and public, where he led development from preclinical
through Phase III clinical trials, transacted mergers, and raised
nearly $1 billion in capital."
Commenting on the role, Michael
Martino noted "Mike has built a strong team at Ampio, which
has made tremendous progress, often during times of significant
uncertainty. As we are nearing our submission to the FDA for
the treatment of osteoarthritis of the knees (OAK), expanding
partnership discussions and continuing to advance our Phase II
trial for respiratory complications of COVID-19, Ampio is on the
cusp of great opportunities."
About Michael Martino
Michael Martino joined the Ampio
Board of Directors in October 2021.
He has extensive experience in the life sciences, spanning a
35-year career. He previously served in the capacity as acting CEO
and Director of HemaFlo Therapeutics, a start-up developing a novel
therapy for Acute Kidney Injury, and serves on the board of Caravan
Biologix, a start-up developing novel drugs, primarily for
oncology.
He has served as CEO, President or Director of a wide variety of
drug development and biotechnology companies. Martino 's career
began with Mallinckrodt, where he held
over 20 discreet assignments in planning, business development,
marketing, and general management over his 17-year tenure.
Martino has a BBA from Roanoke
College, where he served as a Trustee from 2016 to 2020, and
an MBA from Virginia Tech. More
information on Michael Martino can
be found at
https://ampiopharma.com/about-us/board-of-directors/
About Ampio Pharmaceuticals
Ampio Pharmaceuticals, Inc. is a biopharmaceutical company
primarily focused on the advancement of immunomodulatory therapies
to treat prevalent inflammatory conditions for which there are
limited treatment options. Ampio's lead drug, Ampion™, is backed by
an extensive patent portfolio with intellectual property protection
extending through 2037 and may be eligible for 12-year FDA market
exclusivity upon approval as a novel biologic under the Biologics
Price Competition and Innovation Act (BPCIA). Ampio believes there
is a substantial competitive advantage from its proprietary
production capability in terms of scale and cost.
Forward Looking Statements
Ampio's statements in this press release that are not historical
fact, and that relate to future plans or events, are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by the use of words such as "believe,"
"expect," "plan," "anticipate," "design," and similar expressions.
These forward-looking statements include statements regarding
Ampio's expectations with respect to Ampion, the progress and
results of Ampio's clinical trials, the strength of Ampio's patent
portfolio and intellectual property protection, including its
eligibility for FDA market exclusivity and the likelihood of
Ampion's approval as a novel biologic under the BPCIA, all of which
are inherently subject to various risks and uncertainties. The
risks and uncertainties involved include those detailed from time
to time in Ampio's filings with the Securities and Exchange
Commission, including without limitation, under Ampio's Annual
Report on Form 10-K and other documents filed with the Securities
and Exchange Commission. Ampio undertakes no obligation to revise
or update these forward-looking statements, whether as a result of
new information, future events or otherwise.
Investor Relations
Daniel
Stokely
info@ampiopharma.com
720-437-6500
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SOURCE Ampio Pharmaceuticals, Inc.