Galmed Pharma (GLMD) Names Dr. Liat Hayardeny as Chief Scientific Officer

September 8, 2016 8:35 AM EDT

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Galmed Pharmaceuticals Ltd. (Nasdaq: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of a once-daily, oral therapy for the treatment of liver diseases, today announced that it has appointed Liat Hayardeny, Ph.D., MBA, as Chief Scientific Officer ("CSO"), effective as of September 7, 2016.

Dr. Hayardeny joins Galmed with 16 years of experience in drug development in the global R&D division at Teva Pharmaceuticals, where she served as Senior Director, Head of Research Scientific Affairs. In that capacity, Dr. Hayardeny established the scientific positioning of Teva's major innovative compounds. In addition, Dr. Hayardeny managed Teva's global research collaborations, as well as publications. Dr. Hayardeny holds a Ph.D. from Sackler School of Medicine, Tel Aviv University and a MBA from Recanati Business School at Tel Aviv University.

Allen Baharaff, Galmed's President and Chief Executive Officer stated, "The recruitment of Dr. Hayardeny is a pivotal move for Galmed. The addition of Dr. Hayardeny signifies our commitment to building a capable and experienced leadership team in drug development aimed towards delivering Aramchol to its next phase of clinical development, and into new therapeutic indications."

Dr. Hayardeny added, "Spearheading Galmed's efforts in pursuing Aramchol's unique dual mechanism-of-action to further indications is an exciting opportunity. It's well established that Stearoyl-CoA desaturase-1, or SCD1, is one of the central metabolic pathways regulating the metabolism of fatty acids. I believe Aramchol, a unique modulator of SCD1, has therapeutic potential well beyond that of fatty liver diseases. I'm privileged to bring my skills, interests and experience to Galmed, and look forward to seeing the company through this exciting time of growth," concluded Dr. Hayardeny.

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