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Mar 03, 2022, 20:48 ET
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HIGH POINT, N.C., March 3, 2022 /PRNewswire/ — vTv Therapeutics Inc. (Nasdaq: VTVT) a clinical-stage biopharmaceutical company focused on the development of orally administered treatments for type 1 diabetes, today announced that the Company has appointed Rich Nelson as Acting Chief Executive Officer. Mr. Nelson joined the vTv Board of Directors in 2020, and currently serves as Executive Vice President Corporate & Business Development of Vericast, and Executive Vice President Corporate Development for MacAndrews & Forbes. He brings more than 25 years of business and legal experience in mergers & acquisitions and corporate development.
Deepa Prasad, who has been serving as the Company’s Chief Executive Officer and a member of the Board of Directors, has informed the Company that she will be resigning. Ms. Prasad helped to streamline company operations to focus on TTP399, its promising, lead drug in development, and will serve as a Strategic Advisor to the Company for the next six-months. The Company values Ms. Prasad’s experience and appreciates her willingness to advise Rich Nelson on the transition.
Mr. Nelson will work closely with the Company’s Board of Directors as vTv continues to progress in the development of its pipeline of novel therapeutics, particularly TTP339, an orally administered treatments for diabetes.
"I am dedicated to the long-term growth and development of the Company and look forward to working with vTv’s talented employees, scientists, and partners during this exciting time," Mr. Nelson said. The positive Phase 2 study results and FDA Breakthrough Therapy Designation for TTP339 are very promising milestones in the development of a novel treatment for such a serious issue impacting the lives of millions of patients and their families worldwide."
TTP399 is a novel, oral, liver-selective glucokinase activator that showed ~40% reduction in hypoglycemic episodes compared to placebo in its Phase 2 study and was granted Breakthrough Therapy Designation by the FDA. In October, the Company announced positive results of its mechanistic study showing no increased risk of ketoacidosis. Additionally, zero hypoglycemic episodes occurred in the TTP399 arm while four occurred on placebo. The Company looks forward to launching pivotal trials in 2022.
About vTv Therapeutics
vTv Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing oral, small molecule drug candidates. vTv has a pipeline of clinical drug candidates led by programs for the treatment of type 1 diabetes and psoriasis. vTv’s development partners are pursuing additional indications in type 2 diabetes, chronic obstructive pulmonary disease, renal disease, primary mitochondrial myopathy, and pancreatic cancer. For more information, please visit www.vtvtherapeutics.com or follow us on Twitter: @vTvTherapeutics.
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SOURCE vTv Therapeutics Inc.
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