Market Overview

Alzheon Appoints Former IVAX President, Neil Flanzraich, JD, as Vice Chairman of Board of Directors


a clinical-stage biopharmaceutical company focused on
developing new medicines for patients suffering from Alzheimer's disease
and other neurological and psychiatric disorders, announced today the
appointment of Neil Flanzraich, JD, as Vice Chairman of the company's
Board of Directors. Mr. Flanzraich will lead the Alzheon Board of
Directors together with the Chairman of the Board, Jean-Pierre Garnier,
PhD, former CEO of GlaxoSmithKline and Chairman of Actelion. Mr.
Flanzraich was an early investor in Alzheon and served in the role of
Chief Business Officer of Alzheon as a consultant to the company from
February to May 2018.

"We are delighted to have Neil serve as the Vice Chairman of our Board
of Directors and to contribute his expertise to Alzheon in this new
role," said Martin Tolar, MD, PhD, Founder, President and Chief
Executive Officer of Alzheon. "Neil has an exceptional track record for
driving business strategies and building value in biopharmaceutical
companies. We look forward to his insights and guidance, as we chart our
future course for the clinical development of ALZ-801 in Alzheimer's
disease, and continue our strategy to bring breakthrough therapies to
patients with neurodegenerative disorders."

"Alzheon's science of targeting neurotoxic amyloid oligomers represents
the leading edge in Alzheimer's research, and I am excited to continue
to be a part of Alzheon's mission to bring new medicines to patients
with Alzheimer's and other neurodegenerative disorders," said Mr.
Flanzraich. "Alzheon's oral pill ALZ-801 is among only a few remaining
late-stage Alzheimer's drug candidates, and this offers a tremendous
opportunity for ALZ-801 as a promising first-in-class anti-oligomer
treatment for this devastating disease. Alzheon pioneered the precision
medicine approach for genetically-defined Alzheimer's patient
populations, and I look forward to working with the Alzheon team to
realize the full potential of this opportunity for its business and for
Alzheimer's patients."

Mr. Flanzraich brings to Alzheon more than 30 years of executive
leadership, operational and legal experience with pharmaceutical and
life sciences companies. Mr. Flanzraich is the Executive Chairman of
Cantex Pharmaceuticals, Inc., a privately-owned biotechnology company,
which is developing drugs for cancer. Previously, he was Cantex's Chief
Executive Officer. Mr. Flanzraich served as Vice Chairman and President
of IVAX Corporation, an international pharmaceutical company, for over
seven years, prior to its sale in 2006 to TEVA Pharmaceutical
Industries, Ltd. for an enterprise value of $10 billion. Prior to his
tenure at IVAX, Mr. Flanzraich served as Chairman of the Life Sciences
Legal Practice Group of Heller Ehrman LLP, a law firm. Previously Mr.
Flanzraich worked at Syntex Corporation, an international pharmaceutical
company, where, as the Senior Vice President, and a member of both the
Corporate Operating and Corporate Executive Committees, he made major
contributions to the value of the company, which was acquired by Roche
in 1994 for $5.3 billion.

Mr. Flanzraich was an early investor and member of the board of
directors of Chipotle Mexican Grill, Inc. (NYSE:CMG), and is currently
its lead independent director. In addition, Mr. Flanzraich was the lead
independent director of Equity One, Inc. (NYSE:EQY), prior to its
acquisition by Regency Centers Corporation in October 2017. He was an
independent director of Continucare Corporation (NYSE:CNU), a company
with primary care centers, from 2002 to its sale in 2011. Mr. Flanzraich
served for many years as the Chairman of the Israel America Foundation.
He serves as an expert-in-residence for an entrepreneurship program at
Harvard Law School and Harvard Business School. Mr. Flanzraich received
an AB (magna cum laude, Phi Beta Kappa) from Harvard College and a JD
from Harvard Law School (magna cum laude).

About Alzheon
is committed to developing innovative medicines by directly
addressing the underlying pathology of devastating neurodegenerative
disorders. Our lead Alzheimer's clinical candidate, ALZ-801,
is a Phase 3-ready, first-in-class, small molecule oral inhibitor of
beta amyloid aggregation and neurotoxicity – hallmarks of Alzheimer's
disease. ALZ-801 is a novel prodrug that builds on the safety and
efficacy profile of the active compound tramiprosate, which has been
evaluated in clinical trials involving over 2,000 Alzheimer's patients.
Our clinical expertise and technology platform are focused on developing
drug candidates using a
Precision Medicine approach
based on individual genetic and
biological information to advance therapies with the greatest impact for

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