Annovis Bio Inc. (ANVS) Announces Reid McCarthy to Board

Annovis Bio Inc. (NYSE: ANVS), a clinical-stage drug platform company addressing Alzheimer's disease (AD), Parkinson's disease (PD) and other neurodegenerative diseases, today announced the appointment of Reid S. McCarthy to its Board of Directors and to the role of Audit Committee chairman, effective April 9, 2021.

A specialist in bank, bond, and equity financings, McCarthy retired after serving from 2016 to 2019 as CFO of JJ Haines & Company, Inc., a $400 million revenue distribution company operating internationally. Previously, McCarthy provided CFO consulting services to several life sciences companies, served as CFO of Topaz Pharmaceuticals from 2007 to 2011, and served as a founding executive of several VC-backed companies operating in the senior real estate, biometric technology, and agri-business industries, all of which were successfully sold, from 1993 to 2007. McCarthy's past positions include Vice President of Financing for Trinity Capital Corporation, Director-Project Financing for ASEA Brown Boveri, Inc., and officer positions with New York-based money center banks, including J.P. Morgan Chase. McCarthy holds an undergraduate degree in international relations from the University of New Hampshire and an MBA in international finance from New York University.

"We are delighted to welcome Reid to our board and audit committee," commented Maria Maccecchini, Ph.D., CEO of Annovis Bio. "Annovis is entering an exciting period of corporate development as we near the completion of our two ongoing Phase 2a trials. Based on positive initial interim data announced last month, we believe we will ultimately move into pivotal trials, and having someone of Reid's caliber on our board at this stage further strengthens the Company."

"I am excited to work with the Annovis team as they execute on their mission of addressing chronic and acute neurodegeneration through a novel approach that offers new hope in the fight against the largest unmet need of our aging population," said McCarthy.

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