Soleno Therapeutics Announces Board Changes

Ernest Mario, Ph.D. Resigns as Chairman for Health Reasons; Matthew Pauls, JD, MBA Assumes Lead Independent Director

Dawn Carter Bir, a seasoned biotech executive with extensive commercial and strategic experience, joins the board

REDWOOD CITY, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) — Soleno Therapeutics, Inc. (“Soleno”) (NASDAQ: SLNO), a clinical-stage biopharmaceutical company developing novel therapies for rare diseases, today announced updates to its board of directors. Dawn Carter Bir, a seasoned biotechnology executive with more than 30 years of executive and strategic leadership experience, has been appointed to Soleno’s board of directors. Additionally, Board Chairman Ernest Mario, Ph.D. is stepping down from the board for health reasons. Current board member Matthew Pauls, JD, MBA, assumes the role of Lead Independent Director.

“We wish Dr. Mario all the best as he steps down from our board. We sincerely appreciate his invaluable contributions as chairman of our board,” said Anish Bhatnagar, MD, CEO of Soleno Therapeutics. “His extensive experience in the pharmaceutical industry, spanning more than four decades, has been instrumental in guiding Soleno’s growth toward becoming a commercial company.”

“We are also pleased to welcome Ms. Bir to the Soleno Board of Directors. She has extensive experience in commercialization, strategic business development and global operational leadership spanning more than 30 years. Her extensive experience will be key as we prepare for the potential launch of DCCR.”

Ms. Bir said, “I am pleased to join the Soleno board and work to advance the company as DCCR moves closer to potential approval. I look forward to working with the talented Soleno team to support its growth as they prepare for the potential commercialization of their first product.”

Ms. Bir most recently served as Executive Vice President, Senior Executive Officer, and Chief Commercial Officer of Reata Pharmaceuticals for over seven years, until the approval and launch of the company’s first product and its acquisition by Biogen for $7.3 billion in September 2023. Prior to Reata, Ms. Bir served as Vice President of Sales and a member of the executive team of Pharmacyclics until the launch of the company’s first product, a novel, first-in-class, blockbuster hematology drug. Pharmacyclics was acquired by AbbVie in 2015 for $21 billion. Ms. Bir currently serves on the board of Geron Corporation, a public, commercial oncology company with a first-in-class telomerase inhibitor.

About Soleno Therapeutics, Inc.
Soleno is focused on developing and commercializing novel therapies for rare diseases. The company recently submitted an NDA to the FDA, supported by a Phase 3 development program, for its lead candidate, DCCR (choline diazoxide) extended-release tablets, a once-daily oral tablet for the treatment of Prader-Willi syndrome (PWS). For more information, visit www.soleno.life.

Forecast statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release are forward-looking statements, including statements regarding the duration of any regulatory process and final approvals for DCCR for the treatment of PWS. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “goal,” “project,” “considers,” “believes,” “estimate,” “anticipates,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including risks and uncertainties related to the FDA filing and/or review of our NDA, market conditions, and risks and uncertainties inherent to Soleno’s business, including those described in the company’s prior press releases and in its periodic filings with the SEC. The events and circumstances reflected in the company’s forward-looking statements may not be achieved or occur, and actual results may differ materially from those projected in the forward-looking statements. Except as required by applicable law, the company does not intend to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events, changed circumstances or otherwise.

Corporate contact:
Brian Ritchie
LifeSci Advisors, LLC
212-915-2578