Diffusion Pharmaceuticals Names Director Dr. Robert Cobuzzi as President and Chief Executive Officer
Source: GlobeNewswire Inc.
Diffusion Pharmaceuticals Inc. (Nasdaq: DFFN) (“Diffusion” or “the Company”), today announced that Robert (“Bob”) J. Cobuzzi Jr., Ph.D., who has served as a member of the Company’s Board of Directors since January 2020, will succeed David G. Kalergis as President and Chief Executive Officer effective immediately. Mr. Kalergis will retire from his operational responsibilities but continue to serve as Chairman of the Board.
Dr. Cobuzzi is an accomplished pharmaceutical executive with significant and successful experience in the areas of drug development, business development and operational leadership across multiple therapeutic areas. Since joining the Diffusion board in January 2020, Bob has immersed himself in the science and development of Diffusion’s lead-product candidate, trans sodium crocetinate (“TSC”), providing significant support to management as the Chairman of the Science and Technology Committee.
"Bob is uniquely qualified to lead Diffusion as it expands efforts to develop TSC for life-threatening medical conditions where the body has a decreased ability to deliver oxygen to the areas where it is needed most," said David Kalergis, Diffusion's Chairman. "His deep leadership expertise and broad industry experience make him the ideal leader to drive product development and Company growth."
"I am honored to build on David’s legacy and excited to lead Diffusion into its next phase of development. I believe Diffusion has a significant opportunity with TSC to develop a unique and clinically meaningful asset that we believe will address an unmet medical need and create shareholder value," said Dr. Cobuzzi. "I would like to thank David and the Board for the opportunity to serve Diffusion, its patients and its shareholders."
David G. Kalergis has retired as president and chief executive officer of the Company but will continue to serve as chairman of the board of the Company. “It has been a tremendous privilege, first to work with Dr. John Gainer on the development of TSC, and then to work with the entire Diffusion team to bring this exciting new drug to its current inflection point,” said Mr. Kalergis. “Speaking on behalf of the entire board, we welcome Bob as president and CEO.”
Dr. Cobuzzi has 25 years of cross-functional leadership experience in the pharmaceutical and biotechnology industries. He currently serves as a Venture Partner and chairman of the Business Development Board of Sunstone Life Sciences Ventures. From 2005 until 2018, Dr. Cobuzzi held senior leadership roles with Endo International PLC (Nasdaq: ENDP), most recently as President of Endo Ventures Ltd. headquartered in Dublin, Ireland. Prior to joining Endo, Dr. Cobuzzi’s experience included significant scientific licensing, regulatory, and clinical program experience with Adolor Corporation, Centocor Inc., and AstraMerck, Inc./Astra Pharmaceuticals LP. Dr. Cobuzzi graduated from Colby College with an A.B. in Biochemistry and Art History, received his Ph.D. in Molecular and Cellular Biochemistry from Loyola University Chicago and completed a post-doctoral fellowship in Experimental Therapeutics at Roswell Park Comprehensive Cancer Center in Buffalo, New York.
