Veralox Names Jonathan Mow as Chief Executive Officer as the Company Advances Development of First-in-Class Therapies for Immune-Mediated Diseases in Conjunction with Financing
Summary
New Financing of $24 Million Fully Funds the Phase 2 Clinical Program for Lead Candidate VLX- 1005FREDERICK, Md., June 20, 2023 (GLOBE NEWSWIRE) Veralox Therapeutics, a clinical-stage biotechnology company developing a new class of therapies targeting the 12-lipoxygenase (12-LOX) pathway to address some of medicines most persistent and serious immune-mediated diseases, today announced the appointment of Jonathan Mow as the companys new chief executive officer.Mr. Mows appointment comes as Veralox secured $24 million in funding to advance VLX-1005 through a Phase 2a proof-of-concept study evaluating its impact on heparin-induced thromobcytopenia (HIT), a life-threatening rare disease caused by an aberrant immune response to heparin exposure. I am thrilled to join the board at such an exciting time, and to be working with a leader of Jonathans caliber to move into later stages of clinical development.This is an exciting time for Veralox as we head into our proof-of-concept Phase 2 study with VLX- 1005 for HIT, a serious complication subsequent to heparin exposure that is accompanied by significant morbidity and mortality, Mr. Mow said. Our novel approach with 12-LOX inhibitors has great potential in this and other diseases and I would like to thank our investors for their financial support of our important mission and giving me the opportunity to lead this world-class effort and team.Mr. Second generation therapeutic products are under development for type 1 diabetes and other immune-mediated and inflammatory diseases.For more information, visit our website: https://veralox.com/.