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Industry veteran brings over 30 years of experience to AIT
NEW YORK, April 16, 2018 (GLOBE NEWSWIRE) -- AIT Therapeutics, Inc. (OTC:AITB), a clinical-stage medical device and biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for the treatment of patients with respiratory conditions including serious lung infections and pulmonary hypertension, today announced that Stephen J. DiPalma of Danforth Advisors, a financial consultancy specialized in working with life sciences companies, will be assuming responsibilities as Chief Financial Officer. Hai Aviv will remain as AIT’s CFO through April in order to ensure a smooth transition to Mr. DiPalma.
“I am delighted to welcome Steve to the AIT team. I also want to thank Hai for his outstanding service to AIT over the past 15 months and wish him well in his future endeavors,” said Steven Lisi, Chairman and Chief Executive Officer of AIT Therapeutics. “Steve is a tremendous addition for our Company. He joins us with over 30 years of experience in life sciences and healthcare, including having served as Chief Financial Officer for a number of public and private companies. He brings the experience and insight necessary to help guide AIT as we progress to our next stages of growth.”
Mr. DiPalma said, “I am thrilled to have the opportunity to work closely with the Company’s seasoned management team. AIT is on the cusp of transforming the treatment of patients with respiratory conditions with their NO generator and delivery system that will be a substantial benefit for hospitals and patients. I look forward to being part of that effort.”
As a Managing Director at Danforth Advisors, Mr. DiPalma provides financial, operational and strategic counsel to life science companies and has served as interim CFO to several public and emerging companies in various stages of development, from seed financing through IPO, M&A transactions and for ongoing public companies. His experience in life sciences and healthcare includes founding two start-ups and working with venture-backed companies, subsidiaries of Fortune 100 firms and publicly traded companies. Prior to Danforth, Mr. DiPalma was the CFO at Forum Pharmaceuticals and was CFO and Executive Vice President of Business Operations at RXi Pharmaceuticals. Mr. DiPalma’s core expertise includes operational management, strategic planning and corporate and business development, fundraising and mergers and acquisitions. He holds a BS from the University of Massachusetts and MBA from Babson College.
About Nitric Oxide (NO)
Nitric oxide (NO) is a powerful molecule proven to play a critical role in a broad array of biological functions. In the airways, NO is believed to play a key role in the innate immune system at concentrations of approximately 200 ppm. In vitro studies suggest that NO possesses anti-microbial activity not only against common bacteria, both gram-positive and gram-negative, but also against other diverse organisms including mycobacteria, fungi, yeast and parasites, and has the potential to eliminate their multi-drug resistant strains.
About AIT Therapeutics Inc.
AIT Therapeutics Inc. is a clinical-stage medical device and biopharmaceutical company using nitric oxide (NO) to treat respiratory and other diseases. The Company is currently applying its therapeutic expertise to treat lower respiratory tract infections that are not effectively addressed with current standards of care, as well as pulmonary hypertension, in various settings. AIT Therapeutics is currently advancing its revolutionary NO Generator and Delivery System in clinical trials for the treatment of bronchiolitis and nontuberculous mycobacteria (NTM). For more information, visit www.AIT-Pharm.com.
This press release contains “forward-looking statements.” Forward-looking statements include statements about our expectations, beliefs, or intentions regarding our product offerings, business, financial condition, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “likely,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect our views as of the date they are made with respect to future events and financial performance. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including risks related to: our approach to discover and develop novel drugs, which is unproven and may never lead to marketable products; our ability to fund and the results of further pre-clinical and clinical trials; obtaining, maintaining and protecting intellectual property utilized by our products; our ability to enforce our patents against infringers and to defend our patent portfolio against challenges from third parties; our ability to obtain additional funding to support our business activities; our dependence on third parties for development, manufacture, marketing, sales, and distribution of products; the successful development of our product candidates, all of which are in early stages of development; obtaining regulatory approval for products; competition from others using technology similar to ours and others developing products for similar uses; our dependence on collaborators; and our short operating history. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
Steven Lisi, Chief Executive Officer
AIT Therapeutics, Inc.
LifeSci Advisors, LLC
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