Satellos Bioscience Shareholders Elect Two New Board Members

Business Wire

5 hours ago

TORONTO--(BUSINESS WIRE)-- Satellos Bioscience Inc. (TSX: MSCL, OTCQB: MSCLF) (' Satellos ' or the ' Company '), a biotech company developing new small molecule therapeutic approaches to improve the treatment of muscle diseases and disorders, today announced the election of Iris Loew-Friedrich, M.D., Ph.D., and Selwyn Ho, MBBS, to its Board of Directors.
'I am so excited to welcome Dr. Loew-Friedrich and Dr. Ho to our Board at this pivotal time,' said Frank Gleeson, Satellos co-founder and CEO. 'We believe their deep expertise in global clinical and commercial development will be invaluable to Satellos as we advance SAT-3247 and realize our technology's transformative potential for the treatment of people living with Duchenne muscular dystrophy and other degenerative conditions. We look forward to drawing on their proven expertise in positioning Satellos for future partnerships and development strategies focused on delivering optimal value for shareholders.'
A highly accomplished biotech and pharmaceutical executive, Dr. Loew-Friedrich is recognized as the senior clinical leader who shaped UCB into a global powerhouse in neurology and immunology. Serving as executive vice president and chief medical officer until 2024, she led UCB's worldwide development and regulatory strategy for over two decades, overseeing the global approvals of multiple blockbuster therapies, including Cimzia, Briviact, Evenity, Rystiggo, Zilbrysq, and Bimzelx. Her leadership was instrumental in advancing both common and rare disease treatments, with a deep and sustained commitment to improving outcomes for underserved patient populations. Prior to UCB, Loew-Friedrich held senior R&D roles at Schwarz Pharma, BASF Pharma, and Hoechst/Aventis, where she contributed to the development and success of market-leading drugs such as Humira, Arava, Actonel, Vimpat, and Neupro.
Dr. Ho is a seasoned pharmaceutical and biotech executive with broad leadership experience across commercial strategy, business development, financing, and board governance. He has held senior roles at global companies including Dermira (Eli Lilly), UCB, Allergan (AbbVie), Novartis, and AstraZeneca, with expertise spanning ophthalmology, immunology, oncology, and dermatology. As CEO of Medigene AG, he led a strategic transformation and established and extended key partnerships with BioNTech, Regeneron, WuXi Biologics and EpimAb Biotherapeutics. Previously, as EVP & chief business officer at Connect Biopharma, he was instrumental in raising over $350 million through IPO and private funding. He also serves on the boards of Antennova Inc. and Peptomyc S.L., and as executive-in-residence at New Rhein Healthcare Investors.
As part of the Annual General Meeting, Rima Al-awar, Ph.D., William Jarosz, J.D., and William McVicar, Ph.D., did not stand for reelection.
'I want to personally thank Rima, Bill and Bill for their dedicated service, thoughtful leadership and support,' said Gleeson. 'Their guidance helped position Satellos for continued progress, and we wish them all the best in their future endeavors.'
About Satellos Bioscience Inc.
Satellos is a clinical-stage drug development company focused on restoring natural muscle repair and regeneration in degenerative muscle diseases. Through its research, Satellos has developed SAT-3247, a first-of-its-kind, orally administered small molecule drug designed to address deficits in muscle repair and regeneration. SAT-3247 targets AAK1, a key protein that Satellos has identified as capable of replacing the signal normally provided by dystrophin in muscle stem cells to effect repair and regeneration. By restoring this missing dystrophin signal in DMD, SAT-3247 enables muscle stem cells to divide properly and more efficiently, promoting natural muscle repair and regeneration. SAT-3247 is currently in clinical development as a potential disease-modifying treatment initially for DMD. Satellos also is leveraging its proprietary discovery platform MyoReGenX™ to identify additional muscle diseases or injury conditions where restoring muscle repair and regeneration may have therapeutic benefit and represent future clinical development opportunities. For more information, visit www.satellos.com.
Notice on Forward-Looking Statements
This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding Satellos and its business, which may include, but are not limited to, statements regarding the potential for SAT-3247 to represent a disease modifying approach to the therapeutic treatment of people living with Duchenne; anticipated benefits to patients from a small molecule treatment for Duchenne; the advancement SAT-3247 through clinical trials; the pharmacodynamic properties and mechanism-of-action of SAT-3247; the potential of our approach in other degenerative muscle diseases; its/their prospective impact on Duchenne patients, patients with other degenerative muscle disease or muscle injury or trauma, and on muscle regeneration generally; and Satellos' technologies and drug development plans. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, occurrences or developments, are 'forward-looking information or statements.' Often but not always, forward-looking information or statements can be identified by the use of words such as 'shall', 'intends', 'believe', 'plan', 'expect', 'intend', 'estimate', 'anticipate', 'potential', 'prospective' , 'assert' or any variations (including negative or plural variations) of such words and phrases, or state that certain actions, events or results 'may', 'might', 'can', 'could', 'would' or 'will' be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, without limitation, risks relating to the pharmaceutical and bioscience industry (including the risks associated with preclinical and clinical trials and regulatory approvals), and the research and development of therapeutics, the results of preclinical and clinical trials, general market conditions and equity markets, economic factors and management's ability to manage and to operate the business of the Company generally, including inflation and the costs of operating a biopharma business, and those risks listed in the 'Risk Factors' section of Satellos' Annual Information Form dated March 26, 2025 (which is located on Satellos' profile at www.sedarplus.ca). Although Satellos has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Satellos does not undertake any obligation to publicly update or revise any forward-looking statement, whether resulting from new information, future events, or otherwise.
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