Eloxx Pharmaceuticals Appoints Gregory Weaver as Chief Financial Officer

SAN DIEGO, TEL AVIV, Israel and BOSTON, Sept. 26, 2017 /PRNewswire/ -- Sevion Therapeutics, Inc. (OTCQB:SVON) and Eloxx Pharmaceuticals Ltd., a clinical-stage biopharmaceutical company developing novel small molecule medicines for genetic diseases caused by nonsense mutations, today announced the appointment of Gregory Weaver, M.B.A., as Chief Financial Officer. Mr. Weaver is a seasoned financial executive with more than 30 years of experience in leading business and financial operations for private and public companies, including financing transactions, strategic planning, investor relations, and business development initiatives.

"Greg brings a wealth of biopharmaceutical sector experience, both as a CFO and Board Member, as well as the financial and business acumen ideally suited to Eloxx," said Dr. Silvia Noiman, CEO and co-founder of Eloxx. "Greg's broad industry perspective, robust understanding of the crucial operational aspects of a growing company, and his demonstrated ability to manage multiple strategic functions will be essential as we focus our efforts on building a leading organization that creates value and improves the lives of patients suffering from devastating genetic diseases."

During his career, Mr. Weaver has been instrumental in raising more than $900 million in private and public equity and debt financing for both U.S. and international life science companies. Prior to joining Eloxx, Mr. Weaver served as Chief Financial Officer of Prometic Life Sciences, where he led the Company's global financial team. Previously, Mr. Weaver served as Executive Vice President and Chief Financial Officer of Oryzon Genomics where he managed the Company's IPO financing. Earlier in his career, Mr. Weaver served as Chief Financial Officer of several other life sciences companies, including Fibrocell Science, Celsion Corp., Poniard Pharmaceuticals, and Sirna Therapeutics. In addition, Mr. Weaver currently serves as a member of the Board of Directors of Egalet Corporation and Atossa Genetics. Mr. Weaver received his M.B.A. from Boston College, a B.S. in accounting from Trinity University, and U.S. CPA certification.

Mr. Weaver stated, "I am impressed with the operational and clinical progress Eloxx has made since its founding. I believe the Company's promising therapeutic candidates may offer significant advantages to treating diseases and conditions caused by nonsense mutations relative to other approaches. I look forward to applying my expertise to help Eloxx achieve its full potential."

About Eloxx Pharmaceuticals

Eloxx Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel small molecule medicines to treat many rare and ultra-rare genetic diseases caused by nonsense mutations. Nonsense mutations are a class of gene defect resulting in absent or truncated nonfunctional proteins, accounting for some of the most severe phenotypes in genetic diseases. Eloxx's lead product candidate, ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins missing in patients with nonsense mutations. ELX-02 is entering Phase 2 clinical development for Cystic Fibrosis. Additional disease targets include Mucopolysaccharidosis Type I (MPS I), Rett Syndrome, and Duchenne Muscular Dystrophy (DMD) and Cystinosis. Eloxx Pharmaceuticals was founded in 2013 and maintains offices in Boston, MA, and Rehovot, Israel.

Forward-Looking Statements

Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the Company's ability to continue as a going concern; the ability of the Company to consummate additional financings; the development of the Company's antibody technology; the approval of the Company's patent applications; the Company's ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the successful implementation of the Company's research and development programs and collaborations; the success of the Company's license agreements; the acceptance by the market of the Company's products; the timing and success of the Company's preliminary studies, preclinical research and clinical trials; competition and the timing of projects and trends in future operating performance; and the quotation of the Company's common stock on an over-the-counter securities market, as well as other factors expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contacts:

Eloxx Pharmaceuticals
Silvia Noiman, PhD, MBA
CEO
Tel: +972-544-256978
[email protected]

Or

Burns McClellan, Inc.
Steve Klass   
Tel: 212-213-0006
[email protected]

SOURCE Eloxx Pharmaceuticals Ltd.