Samir R. Patel, M.D. Appointed Interim CEO for Akari Therapeutics

BOSTON and LONDON, May 01, 2024 (GLOBE NEWSWIRE) -- Akari Therapeutics, Plc (Nasdaq: AKTX), a biotechnology company developing advanced therapies for autoimmune and inflammatory diseases, today announced leadership changes, including the appointment of experienced life sciences entrepreneur Samir R. Patel, M.D. as interim CEO.

Rachelle Jacques will step down as Akari’s Chief Executive Officer effective today. Melissa Bradford-Klug will step down as Akari’s Chief Operating Officer effective today. In connection with Ms. Jacques’ departure, Akari’s board of directors (the “Board”) has appointed Dr. Patel as Interim Chief Executive Officer. Dr. Patel has served as a member of the Board since December 2023.

“I am honored to be appointed interim CEO by the Akari Board of Directors. My immediate goals are timely completion of the previously announced merger between Akari Therapeutics and Peak Bio, implementation of the portfolio prioritization agreed upon by the boards of both companies while preparing the post-closing combined entity to achieve its stated goals” said Dr. Patel. “I intend to share with our investor base our plan of action moving forward.” Dr. Patel further added. “I have committed significant resources to the advancement of Akari’s lead compound, nomacopan, a bispecific complement and leukotriene B4 inhibitor.” Dr. Patel closed by adding, “I look forward to working with Dr. Hoyoung Huh upon completion of the forementioned Akari – Peak transaction. Dr. Huh has a successful and broad track record in building cancer and other novel life sciences enterprises. I am excited to get started!”

“Samir is a long-time supporter and investor in Akari and brings to us broad life sciences experience and a track record of multiple successful startup companies. I am pleased to welcome him as interim CEO,” said Ray Prudo, M.D., Akari Chairman. “On behalf of the board, I would also like to thank our departing executives for their dedication, steadfast efforts, and contributions to Akari Therapeutics.”

As a result of these leadership changes and the portfolio prioritization also announced separately today, Akari expects to achieve cost savings through reduced clinical trial and infrastructure costs.

Dr. Patel currently serves as founder and principal of PranaBio Investments, LLC, a firm providing consulting, strategic advisory, and investment services for small cap biotechnology companies. He is also a consultant to GE Global Research, GE’s innovation engine that is creating novel products and solutions across several sectors including biomanufacturing and biotechnology.