Windtree Therapeutics, Inc. (NasdaqCM: WINT), a biotechnology and medical device company focused on advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders, today announced the appointment of Joseph Soffer, M.D., F.A.C.C., as Executive Director of Clinical Development, effective immediately.
"We are thrilled to welcome Joe to lead our cardiovascular clinical development efforts at such an important time for Windtree," said Dr. Steve Simonson, Chief Medical Officer at Windtree Therapeutics. "Joe's expertise in cardiology and substantial experience with drug development in the pharmaceutical industry will be invaluable to our istaroxime program in acute heart failure, including our study in early cardiogenic shock."
Dr. Soffer commented, "I am delighted to join this dynamic team working on innovative products like istaroxime at such an exciting time of growth for the company. I look forward to helping the team develop the novel pipeline of assets to address a number of significant unmet needs in cardiovascular medicine."
Joseph Soffer, M.D., F.A.C.C., is a Board-certified physician in Cardiology and Internal Medicine with over 30 years of combined experience in industry, clinical practice, and academia. His medical expertise has focused on heart failure, ischemic heart disease, arrhythmias, lipid disorders, and hypertension, among other disease areas. Most recently, he served as the Senior Medical Director of Clinical Development at GlaxoSmithKline. In this role, he led the U.S. and international clinical development for cardiology assets and pharmacovigilance activities for late-stage trials. Previously, he served as Associate Medical Director of Medical Affairs at Merck and also worked at Medcases. Dr. Soffer's clinical trial experience has included early and late-stage clinical development ranging from Phase I to Phase IV, including successful approval of a cardiology asset in Europe and Canada. Prior to joining the pharmaceutical industry, Dr. Soffer was a practicing cardiologist for over fifteen years after receiving an M.D. from the University of Chicago, Pritzker School of Medicine, and an undergraduate degree from Rutgers University.
In connection with Dr. Soffer's appointment, the Board of Directors of Windtree granted Dr. Soffer a stock option to purchase 100,000 shares of Windtree's common stock. The exercise price of the stock option will be the closing price of Windtree's common stock on the Nasdaq Capital market on the date of the grant, January 29, 2021. The stock option is being granted to Dr. Soffer as an inducement material to him accepting employment with Windtree and is being granted outside of the Windtree Therapeutics, Inc.'s 2020 Equity Incentive Plan, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options will vest in three equal annual installments beginning on the first anniversary of the grant date, subject to Dr. Soffer's continued employment with Windtree through the applicable vesting date.
About Windtree Therapeutics
Windtree Therapeutics, Inc. is advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders to treat patients in moments of crisis. Using new clinical approaches, Windtree is developing a multi-asset franchise anchored around compounds with an ability to activate SERCA2a, with lead candidate istaroxime being developed as a first-in-class treatment for acute heart failure and early cardiogenic shock in heart failure. Windtree has also focused on developing AEROSURF® as a non-invasive surfactant treatment for premature infants with respiratory distress syndrome, and is facilitating transfer of clinical development of AEROSURF® to its licensee in Asia, Lee's HK, while Windtree evaluates other uses for its synthetic KL4 surfactant for the treatment of acute pulmonary conditions including lung injury due to viral, chemical and radiation induced insults. Also in its portfolio is rostafuroxin, a novel precision drug product targeting hypertensive patients with certain genetic profiles.
For more information, please visit the Company's website at www.windtreetx.com.
