XWPharma Names Michael M. Morrissey, PhD to Board of Directors

Appointment Adds Senior Biopharma Operational Expertise to Board Oversight as Company Advances its Pipeline of Novel CNS Therapeutics in Research and Clinical Development

Redwood City, California, UNITED STATES

REDWOOD CITY, Calif. and WUHAN, China, Dec. 16, 2020 (GLOBE NEWSWIRE) -- XWPharma Ltd. today announced that Michael M. Morrissey, Ph.D. has been appointed to the company’s Board of Directors. Dr. Morrissey brings extensive experience as a scientist, leader of highly productive Research and Development organizations, and chief executive officer of a fully-integrated, widely respected biopharma company.

“We are very excited to welcome Mike to our Board,” said Leonard Blum, XWPharma President and CEO. “As a seasoned R&D and company leader, his perspective will be invaluable as we prioritize the multiple high potential opportunities our research unit has identified and navigate the evolving landscape of creating first of their kind therapeutics for patients suffering from CNS disorders with compelling unmet needs.”

“Joining XWPharma at this stage and playing a part in its future growth is very exciting for me,” added Dr. Morrissey. “The company has assembled an organization with broad experience, a special energy, and a shared commitment to bring forward truly original medicines for treating sleep disorders, major depression, chronic pain and other disease states that continue to present huge and underserved challenges for patients, health care systems, and societies around the world. Its trans-Pacific heritage and operations present intriguing opportunities that may deliver important scientific and medical advances.”

Dr. Morrissey has served as a director and as President and Chief Executive Officer of Exelixis, Inc. (Nasdaq: EXEL) since July 2010. During his tenure, the company has grown its flagship medicine, CABOMETYX® (cabozantinib), into a global oncology franchise for the treatment of multiple forms of cancer. At the same time, Exelixis has begun building a differentiated pipeline behind its lead product through internal drug discovery activities at its growing Alameda campus and targeted business development. Prior to becoming Exelixis’ CEO, Dr. Morrissey held positions of increasing responsibility at the company, including serving as its President of Research and Development from January 2007 until July 2010. From 1991 to 2000, Dr. Morrissey held several positions at Berlex Biosciences, last holding the position of Vice President, Discovery Research. Earlier in his career, Dr. Morrissey served as a Senior Scientist and Project Team Leader in Medicinal Chemistry at CIBA-Geigy Corporation. He is the author of numerous scientific publications in medicinal chemistry and drug discovery and an inventor on 70 issued U.S. patents and 25 additional published U.S. patent applications. Dr. Morrissey holds a B.S. (Honors) in Chemistry from the University of Wisconsin and a Ph.D. in Chemistry from Harvard University.

About XWPharma
XWPharma (formerly XW Laboratories) is a biopharmaceutical company dedicated to the discovery and development of therapeutics that apply novel platform chemistry to time-regulated neurobiology. XWPharma's expertise in drug design is focused on providing potential first- and best-in-class medicines with differentiated features to address the unmet medical needs of patients suffering from debilitating neurological diseases. XW10172 is a clinical-stage, GABAB agonist in development as an investigational once-nightly therapy intended to regulate the patient’s sleep cycle in order to alleviate excessive daytime sleepiness and other consequences of sleep dysfunction associated with neurodegenerative diseases, including Parkinson’s disease, and narcolepsy. XW10508 is a glutamatergic NMDA antagonist and AMPA activator in development as an oral, once-daily therapy with potential abuse deterrent properties designed for the treatment of major depressive disorder and chronic pain.   

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