Embera NeuroTherapeutics Announces Expansion of Management Team after Successful Completion of Pilot Study of Cocaine Addiction Treatment

SHREVEPORT, La.--(BUSINESS WIRE)--Embera NeuroTherapeutics, Inc., a specialty pharmaceutical company developing novel treatments for drug addiction and obesity, announced today that the company has recently expanded its management team to prepare for its next stage of development, following the successful completion of the company’s pilot study of cocaine addiction treatment.

“The Board is enthused about our expanded management team that includes new CEO Bob Linke, as well as Dr. McCarthy and Dr. Gloff. Their commitment speaks volumes regarding the potential value EMB-001 can bring to addiction and obesity-related therapeutics.”

Bob Linke was named President and CEO earlier this year, bringing over twenty-four years of healthcare experience to the company that includes building two life science companies. Mr. Linke has also held senior management positions at Baxter International and Caremark. Dr. Bruce McCarthy recently joined as Embera’s consultant Chief Medical Officer and Vice President of Clinical Development. Dr. McCarthy, a neurologist, has extensive experience in neurology and psychiatry drug development and previously led neuroscience clinical development at Pfizer. Dr. Carol Gloff has also joined the company as a pharmaceutical regulatory consultant. Dr. Gloff has over twenty-five years experience in drug development and regulatory affairs, from preparation of INDs through FDA product approval. Prior to establishing her consulting practice, Dr. Gloff was Vice President of Regulatory Affairs for Alkermes and ImmunoGen.

At the end of 2008, the company completed a forty-five subject pilot study of its lead combination drug product, EMB-001, in cocaine dependent subjects at the Louisiana State University Health Sciences Center’s Psychopharmacology Research Clinic. This was the first placebo-controlled investigation in humans with EMB-001, the combination drug approach developed by Embera’s Chief Scientific Officer, Dr. Nicholas Goeders. The company believes its treatment approach, which targets the neurological mechanisms of addiction, may also prove useful in other addiction disorders such as smoking and alcohol dependence.

Mr. Linke commented: “I am very excited to serve as the new President and CEO of Embera as the company prepares for its next phase of development. The positive findings in the company’s pilot clinical study of craving in cocaine dependent subjects, along with the preclinical studies conducted at Louisiana State University Health Sciences Center by Embera’s Chief Scientific Officer, Dr. Nicholas Goeders, laid the foundation for the company’s plans to move EMB-001 forward in clinical development. There is a significant unmet need for new treatments for individuals who suffer from addictions or eating disorders in obesity. Embera’s novel approach to addressing these disorders offers the potential of new treatment options for these populations.”

Embera is currently raising capital to advance the clinical development of its lead combination drug product, EMB-001, in a financing round led by its current investors, Louisiana Ventures and Louisiana Fund I. Ross Barrett, Chairman of Embera NeuroTherapeutics and Managing Partner of Louisiana Ventures, LP commented: “The Board is enthused about our expanded management team that includes new CEO Bob Linke, as well as Dr. McCarthy and Dr. Gloff. Their commitment speaks volumes regarding the potential value EMB-001 can bring to addiction and obesity-related therapeutics.”

About the Company

Embera NeuroTherapeutics, Inc. is a specialty pharmaceutical company founded in 2005 to develop and commercialize novel treatments for addiction and obesity - significant, growing problems in the United States and worldwide for which there are limited effective drug therapies. Embera is developing a patent-pending drug combination, targeting specific brain functions related to the neurobiology of addiction. The company’s lead product, EMB-001, is based on technology licensed from Louisiana State University and developed by the company’s Chief Scientific Officer, Dr. Nicholas Goeders, Head of the Department of Pharmacology, Toxicology and Neuroscience at LSUHSC Shreveport. Dr. Goeders has been a recipient of NIH funding to support studies of drug addiction and stress for over twenty-five years and has authored over eighty scientific publications on this subject. By targeting two neurological mechanisms associated with addiction, EMB-001 may affect the neurobiology of addiction, including the brain functions of craving and loss of control, rather than blocking or mimicking the effect of the abused drug, as most treatment approaches do today. For additional information about the company, please visit www.emberaneuro.com.