Apnimed Further Strengthens Leadership Team and Board of Directors

• Seasoned finance executive Michael Rogers joins as company’s Chief Financial Officer
• Former Biotech CEO and senior Merck executive James (Jay) Galeota joins Board of Directors

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Apnimed, a clinical-stage pharmaceutical company focused on developing medicines to treat sleep apnea and related disorders, today announced it has added two highly experienced executives to help lead the company. Michael Rogers joins Apnimed as Chief Financial Officer and brings more than 25 years of biotechnology experience in both private and public finance management. Additionally, Jay Galeota joins the company’s Board of Directors, and brings more than 30 years of commercial, operational, and company building experience in large pharmaceutical, specialty generics, and biotechnology companies to Apnimed’s Board of Directors.

“We are at an exciting inflection point in Apnimed’s development as we have initiated Phase 2 clinical studies with our lead product, AD109, for the treatment of Obstructive Sleep Apnea,” said Larry Miller, M.D., Chief Executive Officer of Apnimed. “Adding Mike to our leadership team and Jay to our Board will bring valuable expertise and insight as we continue to build a leading biotech company to develop the first pharmacologic, disease-modifying treatment for the estimated 25 million Americans who suffer from sleep disorders.”

Prior to joining Apnimed as Chief Financial Officer (CFO), Michael Rogers was CFO at Aerpio Pharmaceuticals, Inc., which was focused on advancing first-in-class compounds to treat ocular disease and complications of diabetes. Mr. Rogers has been CFO for numerous companies including Acorda Therapeutics, Inc., BG Medicine, Inc., Indevus Pharmaceuticals, Inc., Advanced Health Corporation, and Autoimmune Inc. Mr. Rogers has organized and led numerous successful financing rounds for both pre-commercial and commercial, and privately and publicly traded companies. He received his B.A. from Union College and his M.B.A. from Darden Graduate School of Business Administration at the University of Virginia.

“For years, patients with OSA have been limited to cumbersome or invasive treatment options,” said Michael Rogers, newly appointed Chief Financial Officer at Apnimed. “Apnimed is working on an elegant solution for patients with a once-daily, oral treatment. I look forward to working with the team to help complete a robust set of late-stage trials on an ambitious timeline to fully demonstrate the value of this potentially significant advance.”

Jay Galeota was the President and Chief Executive Officer of Inheris Biopharma, Inc., where he transformed the Necktar spinout, helping to build a new, independent pharmaceutical company in less than a year. Prior to Inheris, he was President of G&W Laboratories, Inc. where he oversaw business operations including research and development, commercial, manufacturing, business development, quality, supply chain, information technology, and corporate support functions. Mr. Galeota spent nearly 30 years with Merck & Co. where he held positions of increasing seniority and oversaw the global development and commercialization for multiple therapeutic areas, such as those in the Diabetes and Obesity Franchise. He was also the President of Merck’s Hospital and Specialty Care business line. He completed his career at Merck as Chief Strategy and Business Development officer and President of Emerging Business for the company. He received his B.S. in Biology from Villanova University, is a graduate of Harvard Business School’s Advanced Management Program, and completed Officer Field Training for the United States Air Force, Reserve Officer Training Corps. Mr. Galeota is also a member of Boards of Directors and Committees for multiple public and privately held companies.

Jay Galeota, newly appointed Apnimed Board Member, said “Throughout my career I have had the privilege to help develop and commercialize some highly innovative and life-changing medicines for patients. I believe Apnimed’s approach to disease-modifying therapies that address the underlying needs of patients with Obstructive Sleep Apnea and other sleep disorders, could be game changing for the sleep field. I am excited to bring my expertise in managing late-stage clinical and commercial development to the Board.”

About Apnimed’s Lead Product – AD109

Apnimed’s lead product candidate, AD109, facilitates the activation of the upper airway dilator muscles to maintain an open airway during sleep. AD109 is a first-in-class, oral pharmaceutical combination dosed once-daily at bedtime, designed to treat OSA patients across a broad spectrum of disease severity. There are currently no medicines to treat the underlying disordered breathing associated with OSA. The drug is designed to be safe, effective, and convenient, addressing the key limitations of the current devices used to treat OSA.

About Obstructive Sleep Apnea

Obstructive Sleep Apnea (OSA) is one of the most common and serious sleep disorders and is estimated to affect more than 25 million Americans, though underdiagnosis continues to be a serious problem. OSA is characterized by partial or complete upper airway closure that occurs during sleep, which often leads to poor sleep, and in the long-term, hypertension, diabetes, cardiovascular disease, strokes, and early mortality. The vast majority of diagnosed patients are prescribed positive air pressure therapy devices such as continuous positive airway pressure, or CPAP. Fewer than half of all CPAP patients are compliant long-term, leaving a significant population untreated, undertreated and at risk.

About Apnimed

Apnimed is a clinical-stage pharmaceutical company working to transform the treatment of sleep apnea based on a simple idea – patients with Obstructive Sleep Apnea will benefit from treatment with a safe and effective oral medication. Apnimed’s lead development program targets the neurologic control of upper airway muscles to maintain an open airway during sleep. The drug is delivered as a convenient once-daily at bedtime. Based in Cambridge, Mass., the company is developing a portfolio of novel pharmacologic therapies for sleep apnea and related disorders. Learn more at Apnimed.com

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