HOUSTON, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Stream Biomedical, Inc., a privately-held company developing novel therapeutics for the treatment of acute stroke and Alzheimer’s disease, announced today that William D. Schwieterman, M.D. has been appointed as Chief Executive Officer. Gary B. Gage, PE, MBA, the company’s founder, continues as Chief Operating Officer.
Dr. Schwieterman, a Board-certified internist and a rheumatologist who previously oversaw the development and approval of numerous investigational drugs while a supervisor at the Food and Drug Administration (FDA), including Enbrel®, Remicade®, Humira®, Synagis®, and others, has been on the board of directors of Stream and an advisor to the company since its inception. He brings extensive biopharmaceutical experience to his new role, notably in the area of clinical and regulatory development.
“Bill is a proven senior pharma executive with a deep background in many different areas of pharmaceutical development,” stated Les W. Kreis, Jr., Managing Partner and Co-Founder of BIOS Partners, a lead investor in Stream. “With his experience as a supervisor at FDA and clinical expertise, as a senior executive within pharma--including roles as Chief Executive Officer and Chief Medical Officer for two publicly-traded companies, and as an experienced Wall Street analyst and insider, we are excited that Bill is taking over the reins for Stream, building upon what Mr. Gage has successfully started.”
Dr. Schwieterman was formerly with the FDA’s Center for Biologics at the Food and Drug Administration (1990-2000), where he oversaw the approval of dozens of new drug applications and co-authored numerous guidance documents. Since leaving FDA he has worked extensively for companies in the pharmaceutical industry and for investors. His work includes roles as Chief Medical Officer for Chelsea Therapeutics (2009-2014), a Charlotte North Carolina based-company acquired by Lundbeck Inc. for $658 million following the approval of its drug droxidopa for the treatment of neurogenic orthostatic hypotension; as CEO for Mateon Therapeutics (2015-2019) -- a South San Francisco based company that merged with Oncotelic Inc. during his tenure. Dr. Schwieterman also has experience as a regulatory consultant for many companies, as a member of various scientific advisory boards, boards of directors, and on Wall Street as a long-time consultant and analyst for Perceptive Advisors, a New York City-based hedge fund specializing in health care stocks.
About Stream Biomedical, Inc.
Stream Biomedical, Inc. is a biopharmaceutical company developing breakthrough therapeutics for the treatment of neurological injuries and degenerative conditions, including acute stroke and Alzheimer’s disease. The Company’s lead drug candidate, Perlecan domain V (PDV), is a neuroprotective and neuroreparative investigational agent. A randomized, placebo-controlled, phase 1 clinical trial of PDV for the treatment of acute stroke is planned for early 2021. For further information please visit the company’s website at www.streambiomedical.com
