Stealth BioTherapeutics Corp (Nasdaq:MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced that Robert Weiskopf, Stealth’s chief financial officer, is leaving the company effective September 30, 2022. Mr. Weiskopf joined Stealth in 2019 following the company’s initial public offering to spearhead its public financial reporting activities and grow the Company’s financial team.
“On behalf of the entire team and Board of Directors, we thank Rob for his significant contributions to Stealth over the past few years, and wish him the best in his future endeavors,” said Reenie McCarthy, Stealth’s CEO. “Rob has played a key role in building the infrastructure to support Stealth as a public company and developing its accounting and reporting capabilities. Rob leaves the company with a strong accounting and financial reporting foundation as well as a talented finance and accounting team,” Ms. McCarthy said. On August 1, 2022, the Company announced that it had entered into a definitive agreement to be acquired by a consortium of investors led by Morningside Venture (I) Investments Ltd. for itself and on behalf of its affiliates and J. Wood Capital Advisors LLC in an all-cash going private transaction.
Mr. Weiskopf said, “It has been an honor to serve as CFO of Stealth over the past three years. I have confidence in the Company’s finance and management team to guide the Company into its next stage of development. I look forward to seeing the Company continue to progress its strategy to develop novel therapies for patients with high unmet needs due to diseases involving mitochondrial dysfunction.”
We are a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction. Mitochondria, found in nearly every cell in the body, are the body’s main source of energy production and are critical for normal organ function. Dysfunctional mitochondria characterize a number of rare genetic diseases and are involved in many common age-related diseases, typically involving organ systems with high energy demands such as the eye, the neuromuscular system, the heart and the brain. We believe our lead product candidate, elamipretide, has the potential to treat ophthalmic diseases entailing mitochondrial dysfunction, such as dry age-related macular degeneration, rare neuromuscular disorders, such as primary mitochondrial myopathy and Duchenne muscular dystrophy, and rare cardiomyopathies, such as Barth syndrome. We are evaluating our second-generation clinical-stage candidate, SBT-272, for rare neurological disease indications, such as amyotrophic lateral sclerosis and frontotemporal dementia, following promising preclinical data. We have optimized our discovery platform to identify novel mitochondria-targeted compounds which may be nominated as therapeutic product candidates or utilized as mitochondria-targeted vectors to deliver other compounds to mitochondria.
