Exhibit 99.1
electroCore Announces Board of Directors Transition
BASKING RIDGE, N.J., December 27, 2019— electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced that the company’s current Chairman of the Board, Carrie S. Cox, will resign from the Board effective March 31, 2020. Ms. Cox also served on electroCore’s Audit and Nominating and Governance Committees. Michael Atieh, who joined the company’s Board in June 2018, will assume the role of Chairman.
“I joined the electroCore Board because I firmly believe in the promise of the company’s vagus nerve stimulation technology to treat a broad range of medical indicationsnon-invasively, and improve the lives of countless numbers of patients,” said Ms. Cox. “I am proud of the progress that we have made thus far, and I leave the Board believing that we have assembled the team capable of maximizing the potential of this novel technology. I look forward to following the company’s continued progress at both expanding the commercial availability of gammaCore in its approved headache indications while in parallel exploring its potential utility in additional large-market disorders where the vagus nerve’s signaling activity is implicated.”
“I have thoroughly enjoyed working with Carrie and have seen first-hand the positive impact her insights and guidance have had as electroCore transitioned to a publicly-traded, commercial-stage company,” said Mr. Atieh. “While there is much work to do, we enter 2020 with a sharpened focus on near-term revenue opportunities and a capital-efficient clinical development plan that we believe will ultimately drive significant long-term value for our shareholders. On behalf of my fellow Board members and electroCore’s leadership, I would like to thank Carrie for her contributions and wish her the very best.”
Prior to his retirement in 2016, Mr. Atieh served as Executive Vice President and Chief Financial and Business Officer at Ophthotech, Inc. (Nasdaq: OPHT). His previous experience included roles as Executive Chairman of Eyetech Inc.; Executive Vice President and Chief Financial Officer of OSI Pharmaceuticals (Nasdaq: OSIP); and Senior Vice President and Chief Financial Officer of Dendrite International, Inc. (Nasdaq: DRTE), a pharmaceutical services company. In the 1990s, he held various senior corporate positions, including Treasurer of Merck & Co., Inc. (NYSE: MRK) and Vice President of US Human Health, a division of Merck.
Mr. Atieh currently serves on the board of directors of Chubb Limited (NYSE: CB) where he is a member of the Risk and Finance Committee. His previous public company board experience was with Theravance Biopharma (Nasdaq: TBPH) and OSI Pharmaceuticals, where he also served as Chair of the Audit Committee. He graduated from Upsala College with a Bachelor of Science in Accounting and Finance.
About gammaCore™
gammaCore™ (nVNS) is the firstnon-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable,easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.