ElectroCore Appoints Multiple Industry Veterans to Key Management Positions

Dr. Tony Florino to serve as Chief Medical Officer and Brian Posner as Chief Financial Officer

BASKING RIDGE, N.J., March 08, 2019 (GLOBE NEWSWIRE) — electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced the appointments of Dr. Tony Fiorino as chief medical officer and Brian Posner as chief financial officer. The company’s current chief medical officer, Dr. Peter Staats, will become a senior executive advisor of Medical and Government Affairs. Glenn Vraniak, electroCore’s current chief financial officer, will be leaving the company to pursue other opportunities and will be providing transition services through August 2019.

“I would like to thank Peter and Glenn for their dedication and contributions to the company as we worked through FDA clearance and commercial launch of gammaCore. They have been integral in advancing our pipeline and completing in our initial public offering,” commented Frank Amato, chief executive officer of electroCore.

Dr. Fiorino will oversee the ongoing clinical development of the company’s gammaCore™ non-invasive vagus nerve stimulator into new potential indications, including migraine prevention and diseases of inflammation, such as rheumatoid arthritis. Mr. Posner will lead the financial planning, financial management and investor relations functions.

“Tony and Brian are both highly accomplished healthcare executives, and I look forward to their contributions as we continue executing on our gammaCore commercial growth plan,” said Mr. Amato. “I believe we have established a leadership team that will shepherd the company through its next phase of growth.”

“I joined electroCore because I am excited by the potential of the company’s vagus nerve stimulation technology,” commented Dr. Fiorino. “I look forward to working with the team to accelerate the company’s clinical development plans and make this technology available to patients globally.” 

“I am pleased to join the electroCore team at this pivotal time in the commercial roll-out and ongoing development of gammaCore,” said Mr. Posner. “The market opportunity for this technology is significant, and I believe the achievement of anticipated commercial and development milestones can yield significant shareholder value.”

Dr. Fiorino joins electroCore from Immune Pharma, where he served as interim chief executive officer since August 2018. He joined Immune as chief medical officer and chief operating officer in August 2017 from Triumvira Immunologics, an immuno-oncology company developing a novel engineered T cell platform, where he served as president and chief executive officer. Prior to joining Triumvira, Dr. Fiorino was the chief executive officer of BrainStorm Cell Therapeutics (NASDAQ: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases. Prior to joining BrainStorm, he was the founder, president and chief executive officer of EnzymeRx, where he led the acquisition of a late-stage pre-clinical biologic and the development of the compound through Phase 2 clinical trials and its subsequent sale to 3SBio. Before founding EnzymeRx, Dr. Fiorino worked as a biotechnology and pharmaceuticals analyst and portfolio manager at firms including JP Morgan, Citigroup and Pequot Capital. Dr. Fiorino earned an M.D. and a Ph.D. from the Albert Einstein College of Medicine and a bachelor of science degree from the Massachusetts Institute of Technology.

Mr. Posner joins electroCore from Cellectar Biosciences, where he served as chief financial officer since April 2018. Prior to Cellectar, he served in chief financial officer roles at Alliqua BioMedical, Ocean Power Technologies and Power Medical Interventions. Earlier, Mr. Posner spent nine years at Pharmacopeia, where he rose from director of finance to chief financial officer before the company was acquired by Ligand Pharmaceuticals. Prior to Pharmacopeia, he was chief financial officer and vice president of operations at Photosynthetic Harvest, a start-up biotechnology company, and regional chief financial officer at Omnicare. Mr. Posner began his career as an audit supervisor at Coopers & Lybrand which was subsequently merged to form PricewaterhouseCoopers.

About electroCore, Inc.

electroCore, Inc. is a commercial-stage bioelectronic medicine company dedicated to improving patient outcomes through its platform non-invasive vagus nerve stimulation therapy initially focused on the treatment of multiple conditions in neurology and rheumatology. The company’s initial targets are the preventative treatment of cluster headache and acute treatment of migraine and episodic cluster headache.

For more information, visit www.electrocore.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore’s business prospects and product development plans, its pipeline or potential markets for its technologies, and other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.  Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.