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SAN DIEGO, Dec. 3, 2021 /PRNewswire/ -- Regulus Therapeutics Inc. (Nasdaq: RGLS), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs (the "Company" or "Regulus"), today announced the appointment of Mohammad Ahmadian, Ph.D., as Vice President, Chemistry and Pharmaceutical Development. In his role, Dr. Ahmadian will assist in managing research and development of the Company's drug candidates, including RGLS8429, which is being developed for patients with autosomal dominant polycystic kidney disease (ADPKD), and will add significant expertise to Regulus' existing scientific talent.
"We are excited to welcome Moh to the Regulus team," said Denis Drygin, Chief Scientific Officer of Regulus. "Moh brings over 20 years of drug discovery and development experience to the company and we believe his background working specifically with oligonucleotides makes him uniquely qualified for the position. We look forward to drawing on his expertise as we continue to make strides in developing RGLS8429, as well as our research programs."
Prior to joining Regulus, Dr. Ahmadian was Vice President & Resident Director of Kinovate Life Sciences, Inc., where in addition to serving as the technical lead, he was responsible for operations, including overseeing production, quality control, quality assurance and the supply chain. Prior to Kinovate, Dr. Ahmadian was employed with Nitto Denko Technical Corporation where he managed various projects concerning design, manufacturing and process development of therapeutic oligonucleotides. Previously he worked for various life sciences companies as a research chemist and manager of RNA chemistry projects. Dr. Ahmadian holds a Ph.D. in medicinal chemistry from Purdue University and an M.Sc. in organic chemistry from Ball State University.
Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
In connection with his hiring on December 1, 2021, Dr. Ahmadian received an option to purchase 200,000 shares of Regulus' common stock, with an exercise price of $0.36 per share, which is equal to the fair market value on the grant date. The option has a 10-year term and vests over a period of four years, with 25% vesting on December 1, 2022, which is one year following the date of grant and the remaining 75% vesting ratably over the succeeding thirty-six months, subject to Dr. Ahmadian's continuous service through each vesting date, and subject to the terms and conditions of Regulus' Inducement Plan and stock option grant notice and agreement thereunder.
Regulus Therapeutics Inc. (Nasdaq: RGLS) is a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs. Regulus has leveraged its oligonucleotide drug discovery and development expertise to develop a pipeline complemented by a rich intellectual property estate in the microRNA field. Regulus maintains its corporate headquarters in San Diego, CA.
Statements contained in this presentation regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements associated with the Company's employees and their potential impact on our research and development programs. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Regulus' current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks associated with the process of discovering, developing and commercializing drugs that are safe and
effective for use as human therapeutics and in the endeavor of building a business around such drugs, and the risk additional toxicology data may be negative. In addition, while Regulus expects the COVID-19 pandemic to adversely affect its business operations and financial results, the extent of the impact on Regulus' ability to achieve its preclinical and clinical development objectives and the value of and market for its common stock, will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the U.S. and in other countries, and the effectiveness of actions taken globally to contain and treat the disease. These and other risks are described in additional detail in Regulus' filings with the Securities and Exchange Commission, including under the "Risk Factors" heading of Regulus most recently quarterly report on Form 10-Q. All forward-looking statements contained in this press release speak only as of the date on which they were made. Regulus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
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SOURCE Regulus Therapeutics Inc.