Berwyn, Pa., January 6, 2015: QR Pharma, Inc., a privately held biopharmaceutical company developing novel therapies for the treatment of Alzheimer’s, Parkinson’s and other neurodegenerative diseases, announced the election of Mr. Michael Hoffman as Chairman of the Board of Directors and Mr. Dhesh Govender as Director. These appointments follow the recent opening of a Series A funding.
“We are thrilled to have Michael and Dhesh on our Board of Directors,” said Maria L. Maccecchini, Chief Executive Officer of QR. “Michael brings a wealth of contacts in the financial and the research communities and his experience will be invaluable to QR as it undertakes the continued clinical studies of its lead compound, Posiphen, in Alzheimer’s and Parkinson’s patients.
Michael Hoffman added: “I am very excited about QR’s prospects of addressing effective therapies for a number of neurodegenerative diseases.”
Mr. M. B. Hoffman
Mr. M. B. Hoffman is a Partner of Riverstone Holdings LLC, where he is principally responsible for investments in power and renewable energy. Riverstone has committed approximately $28 billion to 113 investments in North America, Latin America, Europe, Africa and Asia. Mr. Hoffman is co-head of Riverstone’s Renewable Energy Funds I and II.
Before joining Riverstone in 2003, Mr. Hoffman was senior managing director and head of the mergers and acquisitions advisory business of The Blackstone Group for fifteen years. He serves on several private and public Company Boards, including Pattern Energy and Talen Energy.
Mr. Hoffman is also the Chairman of Onconova Therapeutics, Inc. Onconova is completing both Phase II and Phase Ill trials for its lead compound which has activity in both solid and liquid tumors. Furthermore he is Founder and Chairman of Tara Immuno-Oncology LLC, which is developing Chimeric Antigen Receptor (CAR-T) constructs for both hematological and solid tumors.
Mr. Hoffman serves on the Board of Trustees of The Rockefeller University, is a member of its Tech Transfer Committee and is involved in its Tri-lnstitutional Therapeutic Discovery Institute, which is a collaboration between Rockefeller, Cornell-Weill and Memorial Sloan Kettering.
Mr. Hoffman received his B.A. and M.A. from Northwestern University and his M.B.A. from the Harvard Business School. He is married and has 2 daughters.
Dhesh S.K. Govender is currently CEO and Founder of Tara Immuno-Oncology LLC, a developmental stage biotechnology company focused on novel targeting Chimeric Antigen Receptor (CAR-T) constructs for both hematological and solid tumors.
Prior to his work at Tara Immuno, Dhesh was a partner at the Cedar Lane Fund, a Family office enterprise dedicated to Life Science investing. Prior to joining Cedar Lane, Dhesh was head of Investment Research at Kingsbrook Partners, a long/short equity hedge fund which spun out of Highbridge Capital in 2009. Dhesh is often a featured guest analyst on live Bloomberg TV to comment on health care and biotechnology breaking news.
Dhesh’s graduate work in biophysics and molecular biology converged into a new field within nanotechnology called biomolecular electronics. He completed his graduate work in Biophysics and Chemistry with Distinction from the WM Keck Center for Molecular Electronics at Syracuse University (Syracuse, NY). Dhesh is an inventor and has worked with NASA, Stanford University and JP Lab to develop his technology platform for biomolecular optical devices. Dhesh had his experiments flown on 3 space shuttle missions. Dhesh is married and has one daughter, Tara.
About QR Pharma, Inc.
Headquartered in Berwyn, Pennsylvania, QR Pharma, Inc. is a clinical-stage specialty pharmaceutical company committed to developing therapeutics with novel approaches for the treatment of cognitive impairment in neurological disorders. QR currently has three product development programs: Posiphen for early stage Alzheimer’s and Parkinson’s Disease, and BNC for advanced AD. QR has successfully completed Phase I clinical trials with Posiphen and is conducting other clinical and pre-clinical work in Traumatic Brain Injury (TBI) for the US Army. QR has recently been chosen for a human trial in Alzheimer’s patients in a NIH sponsored clinical trial. For more information on QR Pharma, please visit the company’s website, www.qrpharma.com.
Certain statements in this press release or made by management from time to time regarding QR Pharma that are not historical facts are “forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements.