Rani Therapeutics Appoints Kate McKinley as Chief Business Officer

SAN JOSE, Calif., May 24, 2023 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. (“Rani Therapeutics” or “Rani”) (Nasdaq: RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has appointed Kate McKinley as its Chief Business Officer.

“Kate is a seasoned industry leader, and we are thrilled to welcome her to Rani’s executive team,” said Talat Imran, Chief Executive Officer of Rani. “Kate’s expertise in corporate strategy, business development and commercialization will further strengthen our leadership team and partnering efforts, while positioning the Company for its next stage of growth. Kate will have a vital role in shaping our growth and external innovation strategy to further realize the full potential and value of our pipeline and our foundational RaniPill® platform technology.”

Throughout her more than 20-year career developing high-performing teams in the biopharmaceutical industry, Ms. McKinley has held leadership roles with increasing responsibility in executive leadership, corporate strategy, business development, alliance management, commercial, supply chain and medical affairs. She has proven success securing global partnerships and executing regulatory and commercial strategies in biologics, cell therapies and small molecules across multiple therapeutic areas.

Prior to joining Rani, Ms. McKinley was the Founder and Chief Executive Officer of Spark Outcomes, where she served as a fractional executive and corporate adviser for early-stage pharmaceutical, diagnostics, and health tech start-ups. In 2021, Kate was appointed to the role of Chief Executive Officer and to the Board of Directors of Elevar Therapeutics. She joined Elevar Therapeutics in 2019 as Chief Commercial Officer, where she scaled up and led the company’s global business development, commercial, medical affairs, manufacturing, supply chain, alliance management and corporate communications organizations. Earlier in her career, Ms. McKinley held roles of increasing responsibility in commercial and business development at Dendreon, AbbVie and Abbott.

Ms. McKinley is a summa cum laude graduate of The University of Tulsa. She holds an MBA from The University of Tulsa’s Collins College of Business and a Bachelor of Science in Business Administration with degrees in Marketing, Management and Psychology. She currently serves on the Board of Directors of Maxwell Biosciences and as Chair of the Investment Committee, and was previously a member of the Board of Directors of Elevar Therapeutics and Hainan Pactil Advanced Therapeutics Company Ltd.

“I am thrilled to join Rani Therapeutics at this exciting stage in its journey, and for the opportunity to work with such a talented executive team,” said Ms. McKinley. “Rani provides a unique value proposition for drug delivery by replacing painful injections with its RaniPill® capsule. I believe this technology has potential across an incredibly broad range of injectable therapeutics, which should be attractive to both patients and drug developers alike.”

About Rani Therapeutics

Rani Therapeutics is a clinical stage biotherapeutics company focused on advancing technologies to enable the development of orally administered biologics and drugs. Rani has developed the RaniPill® capsule, which is a novel, proprietary and patented platform technology, intended to replace subcutaneous injection or intravenous infusion of biologics and drugs with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using RaniPill® capsule technology. For more information, visit ranitherapeutics.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding, among other things, the strengthening of Rani’s leadership team and partnering efforts, Rani’s ability to secure partnerships with other companies, the advancement of Rani’s pipeline and RaniPill® platform technology, the attractiveness of the RaniPill® platform technology to patients and drug developers, and Rani’s growth as a company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “may,” “will,” “potential,” “should be,” “next stage,” “intend” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Rani’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with Rani’s business in general and the other risks described in Rani’s filings with the Securities and Exchange Commission, including Rani’s annual report on Form 10-K for the year ended December 31, 2022, and subsequent filings and reports by Rani. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. Rani undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

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