SOURCE: Matinas BioPharma Holdings, Inc.

Matinas BioPharma Holdings, Inc.

August 14, 2013 07:35 ET

Matinas BioPharma Appoints Adam K. Stern to Board of Directors

TARPON SPRINGS, FL--(Marketwired - August 14, 2013) -  Matinas BioPharma Holdings, Inc., an emerging biopharmaceutical company focused on the development and commercialization of omega-3 fatty acid-based prescription therapeutics for the treatment of cardiovascular conditions, announced today the appointment of Adam K. Stern to its Board of Directors.

Mr. Stern joins Matinas BioPharma's Board as the Company embarks on the acceleration of the development of its innovative, new omega-3 product candidate MAT9001 for the treatment of severe hypertriglyceridemia and mixed dyslipidemia.

Herbert Conrad, Matinas BioPharma's Chairman of the Board, commented, "I am very pleased to welcome Adam to our Board and look forward to working with him during this important time for the Company. Adam's deep financial expertise and successful fund-raising track record will be integral to the Company moving forward."

Adam K. Stern, CEO of SternAegis Ventures, stated, "I am delighted to join Matinas BioPharma's Board of Directors. I believe the Company is poised for tremendous success given the management team's experience in advancing the omega-3 therapeutic class and the potential of MAT9001 to successfully penetrate a large, well established and growing market."

Mr. Stern has been Head of Private Equity Banking at Aegis Capital Corp. and CEO of SternAegis Ventures since 2012. Prior to Aegis, from 1997 to November 2012, he was with Spencer Trask Ventures, Inc., most recently as a Senior Managing Director, where he managed the structured finance group focusing primarily on the technology and life science sectors. Mr. Stern held increasingly responsible positions from 1989 to 1997 with Josephthal & Co., Inc., members of the New York Stock Exchange, where he served as Senior Vice President and Managing Director of Private Equity Marketing. He has been a FINRA licensed securities broker since 1987 and a General Securities Principal since 1991.

Mr. Stern is a former Director of InVivo Therapeutics Holdings Corp. and Organovo Holdings, Inc. He currently serves as a Director of LabStyle Innovations Corporation and, since 2012, PROLOR Biotech where he previously served as a Director from 2007 to 2011. PROLOR recently announced its agreement to be acquired by OPKO Health, Inc. Mr. Stern holds a Bachelor of Arts degree with honors from The University of South Florida in Tampa.

Roelof Rongen, Matinas BioPharma's Chief Executive Officer, stated, "Adam is a great addition to our Board. We expect to bring additional expertise into the Company to continue to bolster the team as we aggressively advance our lead product candidate, MAT9001."

About MAT9001
Matinas BioPharma is developing MAT9001 for therapeutic applications, with severe hypertriglyceridemia (TG > 500 mg/dL) and mixed dyslipidemia (TG 200-499 mg/d with concomitant statin therapy) as the lead indications. Based on promising early data, the Company is preparing to file an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration and conduct a human study in early 2014. Assuming positive data from this study, Matinas BioPharma anticipates commencing the first of its pivotal Phase 3 registration studies in the first half of 2014. The Company believes that the composition of MAT9001 represents a significantly differentiated lipid profile, providing unique clinical benefits.

About Matinas BioPharma
Matinas BioPharma Holdings, Inc. is an early stage privately-held biopharmaceutical company focused on the development of omega-3-based prescription therapeutics for the treatment of cardiovascular conditions. The Company's lead product candidate, MAT9001, is designed for treatment of severe hypertriglyceridemia (TG>500 mg/dl) and mixed dyslipidemia (TG 200-499 mg/dl while on statin therapy). The Matinas BioPharma management team brings a cumulative multi-decade omega-3 pharmaceutical experience to the Company, providing a unique perspective and capability for the development of the next generation of omega-3-fatty acid-based pharmaceutical products.

For more information, please visit www.matinasbiopharma.com.

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the possibility of unfavorable results from studies and clinical trials involving MAT9001 or other product candidates. Matinas BioPharma also faces risks related to its ability to enroll patients in studies and may need to modify or delay these studies. As a result, MAT9001 may never be successfully commercialized. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to Matinas BioPharma and the Company assumes no obligation to update any such forward-looking statements.

Contact Information

  • Investor and Media Conact
    Jenene Thomas
    Jenene Thomas Communications, LLC
    Investor Relations and Corporate Communications Advisor
    Phone: +1 (908) 938-1475 
    Email: Jthomas@matinasbiopharma.com