Saghmos Therapeutics: Fred Hassan Appointed Chairman of the Board of Directors

Saghmos Therapeutics, a leading biopharmaceutical company, is thrilled to announce the appointment of Fred Hassan as Chairman of the Board of Directors. Mr. Hassan brings with him a wealth of experience, having served in various executive roles across the pharmaceutical industry for over four decades.

Saghmos Therapeutics is currently developing ST-62516, a cardiorenal metabolic modulator, to reduce the risk of Acute Kidney Injury (AKI) and Major Adverse Cardiac and Kidney Events (MACKE) after contrast procedures like percutaneous coronary intervention (PCI). The company's Investigational New Drug (IND) application for ST-62516 was cleared by the FDA in July 2023. Saghmos plans to initiate a Phase 3 study in 2024 after finalizing a Special Protocol Assessment.

The addition of Fred Hassan as Chairman of the Board of Directors is an exciting development for Saghmos Therapeutics. With his extensive industry experience, Mr. Hassan's guidance and expertise will be invaluable in advancing the mission of bringing ST-62516 to patients.

In a statement, Anna Kazanchyan, M.D., Founder and CEO of Saghmos, expressed her honor and privilege to work with Fred Hassan. She highlighted his impressive pharmaceutical industry experience and emphasized how his guidance will greatly benefit their mission.

The need for a pharmacologic agent to prevent AKI and related complications is significant, especially considering that there are over one million PCI procedures performed annually in the United States alone. Fred Hassan acknowledged this unmet need and expressed his excitement to collaborate with Saghmos in addressing it.

Fred Hassan's accomplishments and contributions to the pharmaceutical industry are remarkable. He currently serves as Chairman of Caret Group and is a Director at Warburg Pincus, a private equity firm. In addition, he holds board positions at Precigen, BridgeBio, and Cocrystal. Previously, he served on the board of Prometheus Biosciences before its acquisition by Merck in June 2023. His leadership roles also include serving on the boards of Amgen and Time Warner. Mr. Hassan has been Chairman of the Boards of Avon Products and Bausch & Lomb.

Before his impressive board positions, Fred Hassan served as Chairman of the Board and CEO of Schering-Plough Corporation and Pharmacia Corporation. He was also the Executive Vice President of Wyeth and held leadership positions at Sandoz Pharmaceuticals (now Novartis). Mr. Hassan's contributions extend beyond individual companies, as he has chaired both the Pharmaceutical Research and Manufacturers of America (PhRMA) and the International Federation of Pharmaceutical Manufacturers Associations (IFPMA).

With his extensive background and achievements, Fred Hassan is a valuable addition to Saghmos Therapeutics. His insights and guidance are expected to play a pivotal role in advancing the development and commercialization of ST-62516.

Saghmos Therapeutics is focused on addressing the high unmet need for reducing cardiorenal complications after PCI. Patients with pre-existing Chronic Kidney Disease (CKD) and comorbidities such as diabetes and heart disease are at a particularly high risk of complications. These complications can include heart failure and the progression of kidney disease, leading to prolonged hospitalization and the need for dialysis. Currently, there are no approved pharmacologic agents to prevent or treat these problems.

Saghmos Therapeutics holds an issued US patent for the prevention and treatment of acute kidney injury after contrast procedures. This patent provides the company with exclusivity through 2037, and they have pending international patents.

In conclusion, Saghmos Therapeutics is excited to appoint Fred Hassan as Chairman of the Board of Directors. With his vast experience and leadership in the pharmaceutical industry, Mr. Hassan will undoubtedly contribute significantly to the advancement of Saghmos' mission. The company's dedication to developing ST-62516 and addressing the unmet need for preventing cardiorenal complications after PCI is commendable. Saghmos Therapeutics is poised to make a meaningful impact in improving patient outcomes in this critical area.