Full Press Release Details
Gain Therapeutics, Inc.
Appoints Gene Mack as Interim CEO
is the Company's Current CFO
PhD, Founder and Chairman of the Board, to serve as Executive Chairman
June 27, 2024 -- Gain Therapeutics, Inc. (Nasdaq: GANX) ("Gain", or the "Company"), a clinical-stage
biotechnology company leading the discovery and development of the next generation of allosteric small molecule therapies, today announced
that Matthias Alder has departed the Company in order to pursue other opportunities. Upon Mr. Alder's departure, the Company
appointed Gene Mack, the Company's current Chief Financial Officer, as interim Chief Executive Officer, effective June 25,
2024. Mr. Mack will retain his role as Chief Financial Officer. Khalid Islam, Ph.D., founder and Chairman of the Company's
Board of Directors, will bolster management as Executive Chairman until a permanent CEO is appointed.
of Gain, I would like to thank Matthias for his significant contribution to the development of our company, as we advanced our lead
candidate, GT-02287, into clinical development. Matthias played an instrumental role building the preclinical dossier for GT-02287 including
the most recent positive data presented this week at FENS Forum 2024, in which administration of GT-02287 was associated with significant
improvement in cognitive performance and other related activities of daily living in a preclinical model of GBA1 Parkinson's disease.
We look forward to the continued advancement of GT-02287 and the potential positive impact we believe it may have on Parkinson's
Disease patients," stated Dr. Islam.
Therapeutics' lead drug candidate, GT-02287, is in clinical development for the treatment of Parkinson's disease. The orally
administered, brain-penetrant small molecule is an allosteric protein modulator that restores the function of the lysosomal protein enzyme
glucocerebrosidase (GCase) which becomes misfolded and impaired due to mutations in the GBA1 gene, the most common genetic abnormality
associated with PD, or other age-related stress factors. In preclinical models of PD, GT-02287 restored GCase enzymatic function, reduced
aggregated -synuclein, neuroinflammation and neuronal death, increased dopamine levels and improved motor function and cognitive
performance. Additionally, GT-02287 significantly reduced plasma neurofilament light chain (NfL) levels, an emerging biomarker for neurodegeneration.
lead program in Parkinson's disease has been awarded funding support from The Michael J. Fox Foundation for Parkinson's Research
(MJFF) and The Silverstein Foundation for Parkinson's with GBA, as well as from the Eurostars-2 joint program with co-funding from
the European Union Horizon 2020 research and Innosuisse - Swiss Innovation Agency.
Gain Therapeutics, Inc.
Gain Therapeutics, Inc.
is a clinical-stage biotechnology company leading the discovery and development of next generation allosteric therapies. Gain's
lead drug candidate GT-02287 for the treatment of Parkinson's disease, is currently being evaluated in a Phase 1 clinical trial.
Leveraging AI-supported
structural biology, proprietary algorithms, and supercomputer-powered physics-based models, the company's Magellan drug
discovery platform can identify novel allosteric binding sites on disease-implicated proteins, pinpointing pockets that cannot be found
or drugged with current technologies. Its AI and machine-learning tools and virtual screening capabilities leverage the emerging on-demand
compound libraries covering vast chemical spaces of over five trillion compounds to identify and select suitable small molecule hits
for experimental validation.
approach enables the discovery of novel, allosteric small molecule modulators that can restore or disrupt protein function. Deploying
its highly advanced platform, Gain is accelerating drug discovery and unlocking novel disease-modifying treatments for untreatable or
difficult-to-treat disorders including neurodegenerative diseases, rare genetic disorders and oncology.
This release contains
"forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements are typically preceded by words such as "believes," "expects," "anticipates,"
"intends," "will," "may," "should," or similar expressions. These forward-looking statements
reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although
management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations
will prove to be correct or that those goals will be achieved, and you should be aware that actual results could differ materially from
those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including,
but not limited to, risks associated with market conditions and the satisfaction of customary closing conditions related to the offering
and uncertainties related to the offerings and the use of proceeds from the offerings. For a further description of the risks and uncertainties
that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the
Company's business in general, please refer to the Company's prospectus supplement to be filed with the SEC, and the documents
incorporated by reference therein, including the Company's Form 10-K for the year ended December 31, 2023 and Form 10-Q
for the quarter ended March 31, 2024.
statements are expressly qualified in their entirety by this cautionary notice. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this release. We have no obligation, and expressly disclaim any obligation,
to update, revise or correct any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Nic Johnson and Elio Ambrosio