Jupiter Neurosciences, Inc. Announces Appointment of New Chief Financial Officer

JUPITER, Fla. and BOSTON, Jan. 12, 2023 /PRNewswire/ -- Jupiter Neurosciences, Inc. ("JUPITER" or the "Company"), a clinical-stage pharmaceutical company advancing a pipeline focused on the treatment of central nervous system (CNS) disorders and rare diseases, today announced that it has appointed Saleem Elmasri, CPA, as new Chief Financial Officer, effective January 1, 2023. Former CFO, Dana Perez, will remain as a consultant for the Company. 

"We are excited to announce Saleem joining our team and bringing his experience as a public company CFO to our Company. As we continue to strategically advance the development of our pipeline and pursue our public offering, Saleem's talents are an integral addition to our management team," stated Christer Rosén, Chairman & CEO. 

"I'm excited and privileged to have the opportunity to work alongside the entire Jupiter team," said Mr. Elmasri, newly appointed Chief Financial Officer. "Chris' exemplary dedication to pursuing critical lines of research to help patients suffering from several rare diseases as well as huge unmet medical conditions, such as Alzheimer's Disease is admirable. I look forward to being a part of the team addressing these underserved patient populations and building value for all stakeholders by doing so." 

Mr. Elmasri has been working at Titan Advisory Services LLC as Principal since September 2020. Titan Advisory Services LLC is a boutique advisory firm focused on providing collaborative and customized financial operations and CFO services to early-stage companies. Mr. Elmasri was Managing Director at DLA LLC, a professional services firm providing clients internal audit, accounting advisory, and corporate finance services, from June 2019 to April 2021 (ended full time employment September 2020 and became a consultant to DLA through April 2021). Prior to that, Mr. Elmasri worked as Senior Director for Pine Hill Group LLC, a boutique accounting and transaction advisory firm, from March 2018 to June 2019, and worked as Senior Manager for PricewaterhouseCoopers LLP, a Big-4 Accounting and Global Professional Services firm, from September 2007 to March 2018. Mr. Elmasri is a CPA and seasoned business professional who has a passion for delivering meaningful and measurable value to clients through practical solutions. Mr. Elmasri has over 15 years of experience in financial and management consulting. Mr. Elmasri began his career at PricewaterhouseCoopers and worked on several of the firm's Fortune 500 clients, primarily focused on the Life Sciences and Pharmaceutical industry. From PwC, Mr. Elmasri transitioned to lead advisory practices at boutique consulting firms, specializing in transaction and complex accounting advisory. Mr. Elmasri has B.S. degrees in Accounting and Finance from Rutgers University.

JOTROL™, the Company's unique and patented platform product, is an enhanced resveratrol formulation designed to safely deliver therapeutically relevant levels of resveratrol. In a Phase I first-in-man trial, JOTROL™ was administered in ascending doses to assess safety, tolerability, and pharmacokinetics. JOTROL™ was determined to be safe and well tolerated at all dose levels administered and achieved blood plasma target levels 8-10-fold higher than naïve resveratrol administered in historical clinical trials. The study was financed by a grant from the National Institute on Aging (NIA), entitled Safety and Pharmacokinetics of JOTROL for Alzheimer's Disease. Resveratrol has the ability to cross the blood-brain barrier and has demonstrated positive effects on oxidative stress, inflammation and mitochondrial function in Friedreich's ataxia (FA) and Alzheimer's disease (AD) patients.

Jupiter Neurosciences, Inc. is a clinical-stage pharmaceutical company focused on treating CNS disorders and rare diseases. The Company's platform product, JOTROL™, offers potential therapeutic benefit to most central nervous system diseases such as Alzheimer's disease, ataxias, and metabolic disorders such as Lysosomal Storage Disorders and mitochondrial diseases. Human clinical trial data shows benefits in several indications and the FDA has accepted a first investigational new drug (IND) application of JOTROL™. More information may be found on the Company's website www.jupiterneurosciences.com.

Forward-Looking Statements

This press release may contain certain statements relating to future results which are forward-looking statements. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements, depending on factors including whether results obtained in preclinical and nonclinical studies and clinical trials will be indicative of results obtained in future clinical trials; whether preliminary or interim results from a clinical trial will be indicative of the final results of the trial; the size of the potential markets for the Company's drug candidates and its ability to service those markets; and the Company's current and future capital requirements and its ability to raise additional funds to satisfy its capital needs. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.

Contacts:
Investor Relations

Alison Silva, President & CBO
Jupiter Neurosciences, Inc.
[email protected]

Media Relations
Alex Rosén, Chief Administrative Officer
Jupiter Neurosciences, Inc.
561-406-6154
[email protected]

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SOURCE Jupiter Neurosciences, Inc.