Emergence client, Vancouver, BC and Charlottetown, PEI-based Neurodyn Cognition Inc. has announced the appointment of Anthony Giovinazzo as a director and Executive Chairman of the Company.
Neurodyn is focused on the development of Memogain, a prodrug of an approved Alzheimer’s therapy with significantly improved safety and efficacy.
Memogain has successfully completed its Phase I clinical trials and is in the process of raising funding for its Phase II development program leading to a pivotal marketing study.
“We are pleased to welcome Anthony Giovinazzo to the NCI Board as our Executive Chairman,” said Kenneth Cawkell, CEO of Neurodyn. “Anthony has a tremendous background in drug development and, equally important, in securing the required financing. His experience will be a significant benefit to the Company as we move forward with the next phase of Memogain’s clinical development program.”
During Mr. Giovinazzo’s career he has raised in excess of US$750 million in private and public equity. Most recently, he was responsible for Cynapsus Therapeutic Inc.’s successful drug development program and subsequent sale to Sunovion Pharmaceuticals Inc., a member of the Dianipon Sumitomo Pharma Group, in a CDN $841 million all cash M&A transaction.
Anthony has over 25 years of experience in the biotech industry and has been the recipient of a number of industry honours and awards.
“I am looking forward to joining the Neurodyn team and assisting the Company in completing the successful development and commercialization of Memogain, which could represent a near term commercialization opportunity for the underserved Alzheimer’s market.” Mr. Giovinazzo told us.
Neurodyn Cognition Inc. is a private Canadian biotech company developing Memogain, a patented prodrug of an approved treatment for Alzheimer’s disease, galantamine (Reminyl®). Memogain’s intranasal administration achieves higher dose levels, with significantly greater brain bioavailability, while avoiding the compliance impairing gastro-intestinal adverse effects of existing symptomatic treatments. In addition to improved cognition the increased brain concentrations enhances the drugs unique and safe mechanism of sensitization of neuronal nicotinic acetylcholine receptors, most notably the alpha-7 subtype, which could result in the potential for disease modifying neuroprotective effects.