Alpha Cognition Announces Change of CFO, Grant of Stock Options and Addition to the Board of Directors
VANCOUVER, B.C., April 12th, 2022. Alpha Cognition Inc. (TSX-V: ACOG) (OTCQB: ACOGF) (“Alpha Cognition”, or the “Company”), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today announces the appointment of Don Kalkofen as Chief Financial Officer (CFO) to replace Jeremy Wright. Mr. Wright will continue to assist the Company in a consulting capacity.
Mr. Kalkofen brings extensive biotechnology industry leadership experience, including a successful track record in finance, corporate development and strategic leadership. As Alpha Cognition’s CFO, Mr. Kalkofen will lead all aspects of the Company’s financial operations and play a critical role in supporting corporate strategy.
“I’m pleased to welcome Don as the newest member of our leadership team,” said Michael McFadden, Chief Executive Officer of Alpha Cognition. “Don’s considerable experience in corporate finance, as well as his track record of successfully supporting the financing of clinical-stage biotech company development, will be critical as we enter our next phase of growth for the Company.”
Mr. Kalkofen’s experience includes twenty years as a CFO in both public and private companies. Prior to joining Alpha Cognition, Mr. Kalkofen most recently served as CFO of Protagonist Therapeutics Inc. (Nasdaq: PTGX), a publicly-traded biopharmaceutical company where he was instrumental in supporting its successful capital and debt financings, in excess of $550 million. Mr. Kalkofen has also held key management positions including acting as the CFO of several financial services and global SAAS companies, as well as supporting global medical device and specialty pharmaceutical companies in key financial areas. He started his career at PricewaterhouseCoopers, received his B.A. in accounting from Washington State University, and is a Certified Public Accountant and Certified Global Management Accountant.
“I am excited to join Alpha Cognition at such a critical time, where we have multiple programs advancing through clinical development, each with the potential to set a new standard of care for patients.” said Mr. Kalkofen. “I look forward to working with the team in support of building a fully integrated biopharmaceutical company that brings medicines to the market for patients, where there is a significant unmet need, and to drive long-term value for shareholders.”
In connection with Mr. Kalkofen’s appointment as CFO of the Company, he has been granted 450,000 stock options pursuant to the Company’s stock option plan, exercisable at a price of $0.93 CAD for a period of ten years from the date of grant, subject to certain vesting provisions.
The Company also announces at this time that Michael McFadden, the Company’s CEO, has been appointed to the board of directors.
About Alpha Cognition Inc.
Alpha Cognition Inc. is a clinical stage, biopharmaceutical company dedicated to developing treatments for patients suffering from neurodegenerative diseases, such as Alzheimer's disease and Amyotrophic Lateral Sclerosis (ALS), for which there are limited treatment options.
ALPHA-1062, is a patented new chemical entity being developed as a new generation acetylcholinesterase inhibitor for the treatment of Alzheimer's disease, with expected minimal gastrointestinal side effects. ALPHA-1062's active metabolite is differentiated from donepezil and rivastigmine in that it binds neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer's dementia and as an intranasal formulation for traumatic brain injury.
ALPHA-0602 (Progranulin) is expressed in several cell types in the central nervous system and in peripheral tissues, promotes cell survival, regulates certain inflammatory processes, and plays a significant role in regulating lysosomal function and microglial responses to disease. Its intended use for the treatment of neurodegenerative diseases has been patented by the Company and Alpha-0602 has been granted an Orphan Drug Designation for the treatment of ALS by the FDA.
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