Exhibit 99.1
NeuroBo Pharmaceuticals Appoints Seasoned Life Science Executive
Marshall Woodworth as Chief Financial Officer
CAMBRIDGE March 4, 2024 – NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage biotechnology company focused on transforming cardiometabolic diseases of cardiometabolic diseases, today announced the appointment of Marshall Woodworth as Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer, effective March 1, 2024, following his tenure as Acting Chief Financial Officer since October 27, 2023.
“Marshall’s decades of experience as a Chief Financial Officer for a variety of pharmaceutical and medical device companies makes him an obvious choice to appoint as a permanent Chief Financial Officer following his tenure in the acting role for the last few months,” stated Hyung Heon Kim, President and Chief Executive Officer of NeuroBo. “We look forward to continuing to leverage Marshall’s operational and transactional experience as we advance the clinical development of our two, next generation cardiometabolic assets that address the metabolic dysfunction-associated steatohepatitis (MASH) and obesity markets, DA-1241 and DA-1726. I am confident that Marshall will continue to play a pivotal role in our company's success, providing strategic guidance crucial to achieving our multiple, near-term, value creating milestones.”
Mr. Woodworth added, “I look forward to continuing my role on NeuroBo’s executive team as we continue to advance toward our clinical milestones including reporting the full data from our Phase 2a clinical trial evaluating DA-1241 for the treatment of MASH in the second half of this year. Following the recent U.S. Food and Drug Administration (FDA) clearance of our Investigational New Drug (IND) application, I also eagerly anticipate the initiation of our phase 1 clinical trial during the first half of this year, investigating the safety and tolerability of DA-1726 in obesity. I am thoroughly optimistic about NeuroBo’s future and committed to contributing to its success.”
Prior to joining NeuroBo Pharmaceuticals, from May 2017 through May 2023, Mr. Woodworth served as the Chief Financial Officer at Nevakar, Inc., where he was responsible for the accounting, financing, legal and human resources functions. Prior to that, Mr. Woodworth served as the Chief Financial Officer of Braeburn Pharmaceuticals, Inc., where he led and coordinated the accounting, finance and treasury functions. Earlier, Mr. Woodworth served as the Chief Financial Officer at Aerocrine AB, and, before that, held the position of Chief Financial Officer at Furiex Pharmaceuticals Inc.
Mr. Woodworth earned a Bachelor of Science in engineering and geology from the University of Maryland as well as Master of Business Administration degree from Indiana University Bloomington.
About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on transforming cardiometabolic diseases. The company is currently developing DA-1241 for the treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH) and Type 2 Diabetes Mellitus (T2DM), and is developing DA-1726 for the treatment of obesity. DA-1241 is a novel G-protein-coupled receptor 119 (GPR119) agonist that promotes the release of key gut peptides GLP-1, GIP, and PYY. In preclinical studies, DA-1241 demonstrated a positive effect on liver inflammation, lipid metabolism, weight loss, and glucose
