Benzinga | Nov 22, 2021 09:19AM EST

Ampio Pharmaceuticals Says Board Member Michael Martino To Become Interim Chairman And CEO

Ampio Pharmaceuticals (NYSE:AMPE), a biopharmaceutical company focused on the advancement of immunomodulatory therapies for prevalent inflammatory conditions, today announced that Mike Macaluso is taking a one-year medical leave of absence from his role as Chairman and CEO, effective immediately. Today's announcement follows Mr. Macaluso's disclosure in October, 2021, that he was undergoing medical treatment.

Ampio Board member Michael Martino has been appointed as Interim Chairman of the Board of Directors and CEO, effective immediately. Holli Cherevka continues in her role as President and COO.

"After careful consideration, I have decided to take a medical leave to focus on my health," said Mike Macaluso. "I feel confident in the ability of Michael Martino, as Interim Chairman and CEO, and our highly skilled management team and employees at Ampio, to lead the Company forward."

Macaluso continued, "Mr. Martino has held a broad range of roles at multibillion-dollar specialty pharmaceutical companies. He has also served as CEO of small drug development companies, both private and public, where he led development from preclinical through Phase III clinical trials, transacted mergers, and raised nearly $1 billion in capital."

Commenting on the role, Michael Martino noted "Mike has built a strong team at Ampio, which has made tremendous progress, often during times of significant uncertainty. As we are nearing our submission to the FDA for the treatment of osteoarthritis of the knees (OAK), expanding partnership discussions and continuing to advance our Phase II trial for respiratory complications of COVID-19, Ampio is on the cusp of great opportunities."