SOURCE: Matinas BioPharma Holdings, Inc.

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November 18, 2013 08:00 ET

Matinas BioPharma Appoints James S. Scibetta to Board of Directors

BEDMINSTER, NJ--(Marketwired - November 18, 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 James S. Scibetta to its Board of Directors. Mr. Scibetta replaces Jerome D. Jabbour who resigned from the Board to focus on his management operations role as Chief Business Officer and General Counsel at the Company.

Mr. Scibetta is a life sciences executive with over 20 years of financial leadership and operational experience and a successful track record in value creation in both private and public companies. He joins Matinas BioPharma's board during an important time for the Company, as it is focused on advancing the development of its innovative omega-3 lead product candidate, MAT9001, for the treatment of severe hypertriglyceridemia and mixed dyslipidemia with the goal of commencing its registration program in 2014. 

Herbert Conrad, Matinas BioPharma's Chairman of the Board commented, "I am very pleased to welcome Jim to Matinas BioPharma's Board of Directors. I have no doubt Jim will bring a valuable perspective to the Company during this growth phase. His superior skill set complements our current board and we fully expect to leverage his proven business acumen and solid industry experience."

James S. Scibetta, CFO Pacira Pharmaceuticals, Inc., stated, "I am very impressed with Matinas BioPharma's management team, all having played key roles in leading the development and successful approval, nearly a decade ago, of the first FDA-approved prescription omega-3 product. I believe this experience will be invaluable as the Company continues advancing MAT9001 and establishes this novel product candidate as a potential important option to treat severe hypertriglyceridemia and mixed dyslipidemia."

Mr. Scibetta is currently Chief Financial Officer of Pacira Pharmaceuticals, Inc. Prior to joining Pacira in 2008, he served as a consultant to Genzyme Corporation following the sale of Bioenvision Inc. to Genzyme in 2007. From 2006 to 2007 Mr. Scibetta was CFO of Bioenvision where he was instrumental in the $345 million sale to Genzyme. From 2001 to 2006, he was EVP and CFO of Merrimack Pharmaceuticals Inc. Mr. Scibetta has Board experience at life sciences companies Nephros Inc., Merrimack Pharmaceuticals and Labopharm Inc. Prior to his executive management experience, Mr. Scibetta spent over a decade in investment banking where he was responsible for sourcing and executing transactions for a broad base of public and private healthcare and life sciences companies. Mr. Scibetta received his Bachelor of Science in Physics from Wake Forest University and an MBA from the University of Michigan.

Roelof Rongen, Matinas BioPharma's Chief Executive Officer, stated, "We expect Jim's deep and diverse skill set and industry perspective will be beneficial in the development and implementation of our growth strategy. We are fortunate to have him join as we transition into a clinical stage development company in the coming year."

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 the first half of 2014. Assuming positive data from this study, Matinas BioPharma anticipates commencing the first of its pivotal Phase 3 registration studies in 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 release contains "forward-looking statements", including those related to the Company's strategic focus and the future development MAT9001. 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 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, our ability to successfully complete research and further development and commercialization of MAT9001; our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials for MAT9001; the uncertainties inherent in clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company's intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products.

All forward-looking 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.

Contact Information

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