NGM Bio Appoints Siobhan Nolan Mangini as Chief Financial Officer

SOUTH SAN FRANCISCO, Calif., May 27, 2020 (GLOBE NEWSWIRE) -- NGM Biopharmaceuticals, Inc. (NGM) (Nasdaq: NGM), a biotechnology company focused on developing transformative therapeutics for patients, today announced the appointment of Siobhan Nolan Mangini as Chief Financial Officer (CFO). In her role as CFO, which will take effect on July 13, 2020, Ms. Nolan Mangini will oversee finance, business development and investor relations at NGM.  

“We are thrilled to welcome Siobhan to the NGM executive team. Her rich and diverse background across the healthcare landscape make her an ideal addition as NGM’s Chief Financial Officer, particularly as our lead asset, aldafermin for the treatment of non-alcoholic steatohepatitis, or NASH, advances toward late-stage clinical development, and our other novel metabolic, ophthalmic and oncologic product candidates also progress in development,” said David J. Woodhouse, Ph.D., Chief Executive Officer at NGM. “Siobhan’s deep financial expertise, coupled with her broad leadership experience spanning a myriad of critical business functions, will enable her to have a far-reaching impact across our company as she leads the refinement and implementation of strategic, operational and financial planning to position NGM for long-term growth and success.”

“I am delighted to join David and the NGM team,” said Ms. Nolan Mangini. “I’m incredibly impressed by the rich scientific heritage of NGM, its many accomplishments to date, and its unwavering commitment and passion to bring important new medicines to patients. I believe NGM has many attributes that make it a true industry standout and will enable the company to continue to thrive. As NGM progresses its clinical stage pipeline in multiple therapeutic areas, along with its earlier stage research programs, I look forward to collaborating with everyone at NGM to fulfill our bold ambitions. I am excited to contribute to this mission-driven journey by leading NGM’s finance, business development and strategic planning efforts, and to support the alignment of the company’s research and development execution.”

Ms. Nolan Mangini most recently served as President and CFO of Castlight Health, a publicly traded San Francisco-based healthcare technology company. She joined Castlight in 2012 and assumed roles of increasing responsibility, ultimately being appointed CFO in 2016 followed by her additional appointment as President in 2019. At Castlight, Ms. Nolan Mangini was responsible for a wide range of functions including strategic and corporate planning, finance, investor relations, people, legal, real estate, customer support and business operations. During her tenure at Castlight, Ms. Nolan Mangini supported the enterprise SAAS company’s growth from a few thousand users to 20 million users and scale up of its customer base, including large employers, Fortune 500 companies and channel partners. She was deeply involved in the establishment of significant payer partnerships, the company’s initial public offering and the execution of a transformative acquisition. Prior to joining Castlight, Ms. Nolan Mangini worked as a management consultant at Bain & Company, specializing in the health care and private equity practices. She began her career at the Henry J. Kaiser Family Foundation as a financial associate responsible for managing the allocation of the foundation’s endowment.

Ms. Nolan Mangini has a Master of Business Administration from the Graduate School of Business at Stanford University, a Master of Public Administration from the Kennedy School of Government at Harvard University and a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania.

About NGM Biopharmaceuticals, Inc.

NGM is a biopharmaceutical company focused on developing novel therapeutics based on scientific understanding of key biological pathways underlying cardio-metabolic, liver, oncologic and ophthalmic diseases. We leverage our biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable us to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. At NGM, we aspire to operate one of the most productive research and development engines in the biopharmaceutical industry, with multiple programs in clinical development. Visit us at www.ngmbio.com for more information.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “believe,” “look forward,” “advance,” “progress,” “position,” “leads” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to: the timing of Ms. Nolan Mangini joining as NGM’s CFO and her ability to impact NGM’s growth and success; advancement of aldafermin toward late-stage development and other clinical and preclinical development progress; NGM’s potential long-term growth and success; and other statements that are not historical fact. Because such statements deal with future events and are based on NGM’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of NGM could differ materially from those described in or implied by the forward-looking statements in this press release. These risks and uncertainties include, without limitation, risks and uncertainties associated with: the inherent uncertainty of management changes and NGM’s ability to retain its senior management team; the costly and time-consuming pharmaceutical product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully enrolling or completing clinical studies, the risk that the results obtained to date in NGM’s clinical trials may not be indicative of results obtained in pivotal or other late-stage trials, and the risk that NGM’s ongoing or future clinical studies in humans may show that aldafermin is not a tolerable and effective treatment for NASH patients; the evolving effects of the COVID-19 pandemic, which may significantly impact (i) our business and operations, including out of our headquarters in the San Francisco Bay Area and our clinical trial sites, as well as the business or operations of our manufacturers, contract research organizations or other third parties with whom we conduct business, (ii) our ability to access capital, and (iii) the value of our common stock; the time-consuming and uncertain regulatory approval process; NGM’s reliance on third-party manufacturers for aldafermin and its other product candidates; the sufficiency of NGM’s cash resources and need for additional capital; and other risks and uncertainties affecting NGM and its development programs, including those described under the caption “Risk Factors” in NGM’s quarterly report on Form 10-Q for the quarter ended March 31, 2020 and future filings and reports that NGM makes from time to time with the United States Securities and Exchange Commission. Except as required by law, NGM assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.