AI Therapeutics Announces Appointment of Biotechnology Industry Leader David Scheer as Chairman of the Board of Directors

Seasoned company builder and advisor with a proven track record of creating value in the biotechnology industry.

GUILFORD, Conn., July 12, 2023 (GLOBE NEWSWIRE) — AI Therapeutics, Inc., a clinical-stage biopharmaceutical company developing novel therapeutics for rare diseases, announced today the appointment of David Scheer as Chairman of the Board of Directors.

Mr. Scheer brings decades of experience to AI Therapeutics, having founded, built and advised multiple biotechnology companies, including Achillion, Viropharma, OraPharma and the original Esperion Therapeutics which were cumulatively acquired for nearly $7 Billion. Since 1981, Mr. Scheer has provided corporate strategic and transactional advisory services to the life sciences industry as founder and President of Scheer & Company. In this capacity, he has been integral to and, in many cases, has led the negotiation of transactions involving licensing, mergers, acquisitions and partnerships of significant economic value. Additionally, he has supported several companies through highly successful IPOs.

Currently, Mr. Scheer is Chairman of the Boards of BiologicsMD, Inc., Adela, Inc., and Refactor Health. Amongst his additional advisory roles, Mr. Scheer serves as a member of the Board of Directors of BioCT and as a member of the Bioscience Innovation Advisory Committee, which oversees investments made by the $200M Connecticut Bioscience Innovation Fund. He has had significant experience in the orphan space, not only advancing innovator companies but also advising important not-for-profit entities, notably including the National Organization for Rare Disorders (NORD). He has served as a founding member of CUPA (Compassionate Use and Preapproval Access Working Group, affiliated with the Bioethics Division of NYU), member of the Impact Council of the Rutgers Global Health Institute, Vice-Chair of the Board of the Global Virus Network, and has been involved in a series of initiatives in the global health space during his tenure as a volunteer advisor for the Harvard T.H. Chan School of Public Health. Mr. Scheer holds an A.B. degree cum laude in Biochemical Sciences from Harvard College and an M.S. degree in Cell, Molecular and Developmental Biology from Yale University.

“It is with great pleasure that I welcome David Scheer as Chairman of AI Therapeutics. David has a stellar track record of creating and maximizing value in the biotechnology industry. We look forward to his contributions to AI Therapeutics as the company enters an exciting phase in its development,” said Dr. Jonathan Rothberg, founder of AI Therapeutics, serial entrepreneur and Recipient of the National Medal of Technology and Innovation for inventing high speed “Next-Gen” DNA sequencing.

“David brings a wealth of industry knowledge and expertise to our company, which will play an important role as our drug pipeline matures over the coming years. We look forward to working with David as we further our mission of delivering life saving medicines to patients with rare diseases,” said Dr. Brigette Roberts, Chief Executive Officer of AI Therapeutics. “In addition to welcoming David, we would also like to thank Dr. Rothberg for his many contributions to AI Therapeutics as Founder and Chairman. Dr. Rothberg is a true visionary, and we are grateful for his continued involvement as a Director of the Company.”

“It is a privilege to join the AI Therapeutics Board of Directors as Chairman,” said Mr. Scheer. “I am attracted to the pipeline of potentially transformative therapeutics in the orphan and oncology arenas in addition to the strong management team and Board, and look forward to assisting in bringing these agents to patients and delivering value to shareholders.”

About AI Therapeutics

AI Therapeutics was founded by Dr. Jonathan Rothberg, serial entrepreneur and Recipient of the National Medal of Technology and Innovation for inventing high speed “Next-Gen” DNA sequencing, with the goal of utilizing artificial intelligence to accelerate the clinical development of drugs for rare diseases. The company is building out an expansive rare disease pipeline with the help of its Guardian Angel™ Platform, a suite of artificial intelligence tools that use deep learning to understand complex disease biology and the action of potential new therapeutics. To learn more, visit: AI


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