XWPharma Names Glen Giovannetti to Board of Directors

New Board Member Brings Extensive Experience in Financial Oversight and Governance in the Life Sciences Industry as Company Advances its Pipeline of Novel CNS Therapeutics, Preparing for Future Stages of Growth and Development

Redwood City, California, UNITED STATES

REDWOOD CITY, Calif. and WUHAN, China, March 01, 2021 (GLOBE NEWSWIRE) -- XWPharma Ltd. today announced that Glen Giovannetti has been appointed to the company’s Board of Directors. Mr. Giovannetti recently retired following a highly distinguished 36 year career at Big Four Accountancy Ernst & Young, where he served as a Senior Partner and Global Life Sciences Sector Leader.

“We are delighted to welcome Glen to our Board,” said Leonard Blum, XWPharma President and CEO, “His expert counsel will bring important value to our company as we strive to follow the path of many emerging growth companies he has guided, making their way to industry leadership while maintaining strong financial controls, performance and shareholder returns.”

“I am excited to be joining XWPharma’s Board at this stage in the company’s growth and to be part of a team with deep experience across novel CNS drug discovery, development, manufacture, and commercialization in both big pharma and biotech,” noted Mr. Giovannetti. “I look forward to contributing my experience to help the company successfully and strategically manage its promising pipeline, financing and corporate development opportunities for growth.”

Over a span of three and a half decades with Ernst & Young, Mr. Giovannetti achieved high regard as an industry expert and thought leader. He supported client teams working in the U.S. and China, and across Europe, India, Japan and Brazil. He was part of the deal team for numerous IPOs and following-on offerings as well as consulting on alliance, merger, and spin-off transactions. He was formerly a Member of the Board of Directors of the Biotechnology Innovation Organization (BIO) and currently serves on the Board of Directors for biopharma Teon Therapeutics, non-profit Life Science Cares, and the Board of Trustees of Linfield University, from which he graduated with a BA in Accounting. Mr. Giovannetti has published numerous articles and is co-author of the book, Managing Biotechnology: From Science to Market in the Digital Age.
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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