WAYNE, Pa., Oct. 17, 2024 (GLOBE NEWSWIRE) — Palvella Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases for which there are no FDA-approved therapies, today announced the appointment of Matthew E. Korenberg as Chief Financial Officer, effective immediately. Mr. Korenberg is a seasoned operational and financial leader with more than 27 years of senior executive experience in biotech companies and healthcare investment banking. Throughout his career, he has focused on capital raising, partnering and licensing deals, acquisitions, as well as overseeing public company operations related to investor relations and public reporting.
“I am thrilled to welcome Matt to the Palvella senior leadership team. Matt’s proven track record in public company corporate finance and strategy, operations, and capital markets will be instrumental to Palvella as we advance our rare disease pipeline and progress our lead product candidate QTORIN™ rapamycin to potential regulatory approvals and U.S. commercialization,” said Wes Kaupinen, Founder and Chief Executive Officer of Palvella. “We look forward to Matt’s significant contributions as we work towards achieving our vision of becoming the leading rare disease company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases.”
Mr. Korenberg joins Palvella from Ligand Pharmaceuticals Inc. (NASDAQ: LGND), where he served as President and Chief Operating Officer since 2022 and Chief Financial Officer from 2015 to 2022. Prior to Ligand Pharmaceuticals, Mr. Korenberg was the founder, Chief Executive Officer, and a director of NeuroCircuit Therapeutics, a company focused on developing drugs to treat genetic disorders of the brain with an initial focus on Down syndrome. Mr. Korenberg previously served as a Managing Director and member of the healthcare investment banking team at The Goldman Sachs Group from 1999 to 2013. During his 14-year tenure at Goldman Sachs, Mr. Korenberg focused on advising and financing companies in the biotechnology and pharmaceutical sectors. Mr. Korenberg currently serves on the board of directors, including the audit committee, of Lifecore Biomedical Inc. (NASDAQ: LFCR), a fully integrated contract development and manufacturing organization. He earned a B.B.A. in Finance and Accounting from the University of Michigan.
“I am excited to join Palvella at such a dynamic time. The combination of a dedicated leadership team, patented QTORIN™ platform technology, and promising late-stage rare disease pipeline position the company well for growth,” said Mr. Korenberg. “I look forward to leading Palvella’s transformation to a public company and addressing the unmet needs of people with serious, rare genetic skin diseases.”
About Palvella Therapeutics
Founded and led by rare drug disease drug development veterans, Palvella Therapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases for which there are no FDA-approved therapies. Palvella is developing a broad pipeline of product candidates based on its patented QTORIN™ platform, with an initial focus on serious, rare genetic skin diseases, many of which are lifelong in nature. Palvella’s lead product candidate, QTORIN 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin), is currently in clinical development for microcystic lymphatic malformations (microcystic LMs) and cutaneous venous malformations.
In July 2024, Palvella and Pieris Pharmaceuticals, Inc. (Nasdaq: PIRS) announced they have entered into a definitive merger agreement to combine the companies in an all-stock transaction.
