Aptorum Group Welcomes New Executives Following Merger Plans

Aptorum Group Expands Leadership in Anticipation of Merger

Aptorum Group Limited (NASDAQ: APM) is on the verge of a significant transition as it prepares for its merger with DiamiR Biosciences. The New York-based clinical stage biopharmaceutical company is thrilled to announce the appointment of Dr. Laura A. Philips as an independent director to its board.

Meet the New Board Member

Dr. Philips brings a wealth of experience to Aptorum. She is the co-founder and CEO of Spheryx, Inc., a leading technology firm that specializes in advanced holographic microscopy. This innovative company is focused on applications ranging from pharmaceuticals to consumer products, ensuring quality and efficacy in various markets.

With a strong academic background, including a Ph.D. in Chemistry from the University of California, Berkeley, and an MBA from Cornell University, Dr. Philips has also held pivotal roles at firms like Corning Incorporated and NexGenix Pharmaceuticals. Her experience during her tenure in the Clinton Administration as a fellow further underscores her diverse expertise.

A Vision for the Future

CEO and Executive Director of Aptorum, Mr. Ian Huen, expressed his excitement about Dr. Philips joining the team, emphasizing her skills in the life sciences sector. “Her expertise will bolster our mission to transition into a commercial entity focused on addressing the critical challenges posed by aging-related diseases,” he stated.

Insight from Dr. Philips

In her statement, Dr. Philips expressed her enthusiasm for collaborating with Aptorum and DiamiR. She has closely followed DiamiR’s developments and sees great potential in their work on minimally invasive tests aimed at early detection and management of Alzheimer's and other neurodegenerative diseases.

Dr. Philips highlighted her belief in the merger’s potential to enhance market visibility and execution capabilities for both companies. This sentiment reflects Aptorum's strategy to not only expand its capabilities but also improve health outcomes through innovative diagnostics.

The Merger's Progress and Next Steps

The all-stock merger agreement between Aptorum and DiamiR, previously announced in a recent press release, aims to create a greater collaborative force in the pharmacological landscape. With both companies' stockholder approvals pending, the merger is projected to finalize in the forthcoming quarter.

Planning for Leadership Changes

Upon completion of the merger, Aptorum's board will see the addition of Dr. Kira Sheinerman, co-founder of DiamiR, enhancing the team’s breadth of experience in the biopharmaceutical field. Dr. Alidad Mireskandari, currently DiamiR’s CEO, will step into the role of President and COO for the combined entity.

Dr. Mireskandari’s vast industry experience, particularly in molecular diagnostics, positions him well to lead initiatives aimed at both innovation and commercialization. With past roles in major firms and as a hedge fund manager, he will be pivotal in driving growth and ensuring financial compliance following the merger.

Commitment to Innovation

Dr. Sheinerman, another important addition, has been a key player in healthcare investment banking, focusing on growth markets within the life sciences. Her experience includes founding roles that emphasize the importance of investment in healthcare innovation.

About Aptorum Group

Aptorum Group Limited remains committed to discovering and developing therapeutic solutions for significant unmet medical needs, especially in oncology and infectious diseases. The combination of new leadership is a testament to their dedication to pioneering advancements in the industry.

About DiamiR Biosciences

DiamiR is pioneering solutions in molecular diagnostics geared towards the early detection of brain health conditions. Their innovative tests utilize advanced microRNA signature analyses, leveraging over 50 patents to support their clinical applications.

Frequently Asked Questions

What is the primary focus of Aptorum Group?

Aptorum Group focuses on developing therapeutic solutions for unmet medical needs, particularly in oncology and infectious diseases.

Who is Dr. Laura A. Philips?

Dr. Philips is the co-founder, President, and CEO of Spheryx, Inc., and she has been appointed as an independent director on Aptorum's board.

What advancements does DiamiR aim to achieve?

DiamiR aims to develop minimally invasive tests for early detection and monitoring of brain diseases, including Alzheimer's.

When is the merger between Aptorum and DiamiR expected to close?

The merger is expected to finalize in the fourth quarter of the current year.

What new roles will executives assume after the merger?

Dr. Kira Sheinerman will join the board, while Dr. Alidad Mireskandari will take on the role of President and COO.

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