REHOVOT, Israel and NEW YORK, June 14, 2017 (GLOBE NEWSWIRE) -- AIT Therapeutics Inc. (OTC:AITB), a clinical stage anti-microbial therapeutic company treating respiratory diseases with nitric oxide (NO), today announced the appointment of Steve Lisi as Chief Executive Officer, effective June 14, 2017. Mr. Lisi is currently Chairman of the Board. Amir Avniel, the current CEO and a founder, will transition to become President and Chief Operating Officer of the company.
“2017 will be a transformative year for AIT Therapeutics and I am thrilled to be appointed CEO at this important time,” said Mr. Lisi. “We have already successfully completed a reverse merger, raised gross proceeds of $10.9 million in an equity offering and our stock is now trading on the Nasdaq OTC marketplace. Our vision is to make our proprietary NO formulation and device an effective treatment for multiple lung infections and diseases. We expect to report Phase 2 data in nontuberculous mycobacteria (NTM) in the fourth quarter of 2017 and Phase 3 data in bronchiolitis (RSV) exacerbations requiring hospitalizations in the first quarter of 2018. I believe that AIT has the potential to deliver significant value while positively impacting the lives of patients. I look forward to working with AIT's executive team and Board to advance the company further."
“On behalf of the board, we are very pleased that Amir Avniel will assume an ongoing leadership role at AIT as President and COO, building on his important accomplishments to date,” continued Mr. Lisi.
Mr. Lisi has extensive executive management and investment experience covering the life sciences industry. Since 1995 he has been involved with investing in private and public healthcare companies ranging from $2 million to $300 billion in market capitalization. He has been a director of AIT Therapeutics since January 2017 and was appointed Chairman of the Board in May 2017. He previously served as Senior Vice President of Business and Corporate Development at Flamel Technologies (renamed Avadel Pharmaceuticals – AVDL) where he restructured the company and transformed it from $100 million in enterprise value to $1 billion in three years. Prior to his position with Flamel, Mr. Lisi held positions as an analyst at Mehta and Isaly (now OrbiMed) and a portfolio manager at SAC Capital, Millennium Partners, and Deerfield Management.
Mr. Lisi is the Co-Founder and Chairman of the Board of Mico Innovations, a next-generation novel bare metal stent company and a board member of Incysus, Ltd., a leading-edge immunotherapy company targeting solid tumors. Mr. Lisi received a Master in International Business from Pepperdine University.
About AIT Therapeutics Inc.
AIT Therapeutics Inc. is a clinical-stage anti-microbial therapeutic company developing novel non-antibiotic anti-microbial therapeutics for respiratory diseases based on nitric oxide (NO) as well as other indications. The Company is applying its therapeutic expertise to prevent and treat lower respiratory tract infections, many of which cannot effectively be addressed with current standards of care. AIT Therapeutics is advancing its revolutionary respiratory targeted system in a pipeline of clinical trials for the treatment of bronchiolitis (RSV) exacerbations, 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.
Source:AIT Therapeutics, Inc.