CohBar Announces Changes to its Board of Directors and R&D Leadership

Founding board members transition to reconstituted Scientific Advisory Board

Kent Grindstaff, Ph.D. appointed as Senior Vice President of Research

MENLO PARK, Calif., Dec. 17, 2021 (GLOBE NEWSWIRE) -- CohBar, Inc. (NASDAQ:CWBR), a clinical stage biotechnology company developing mitochondria based therapeutics to treat chronic diseases and extend healthy lifespan, today announced changes to its Board of Directors, Scientific Advisory Board (SAB), and R&D leadership.

CohBar's founders Drs. Nir Barzilai, Pinchas Cohen, and John Amatruda have transitioned from the company's Board of Directors to a reconstituted SAB. The SAB will be comprised of experts in mitochondrial science and other disciplines, working with CohBar's leadership to advance its pipeline and Mito+ platform.

In addition, Ken Cundy, Ph.D. has resigned from his position as Chief Scientific Officer, effective March 31, 2022, in order to explore other opportunities. The company is pleased to announce the appointment of Kent Grindstaff, Ph.D., as CohBar's Senior Vice President of Research, effective January 4, 2022. Dr. Grindstaff is well-versed in the company's science and programs as he previously served for six years as the VP, Biology at CohBar.

"CohBar has progressed under the leadership of Dr. Cundy into a clinical stage company with a recent positive readout in our program for NASH and obesity. We thank Ken for his contributions to CohBar and wish him success in his future endeavors," said Dr. Joseph Sarret, Chief Executive Officer. "I am pleased to welcome Dr. Grindstaff back to CohBar. His extensive experience in cell biology, biochemistry, and assay development will guide CohBar in our continued evaluation and development of novel peptides for important indications such as idiopathic pulmonary fibrosis (IPF)."

Dr. Grindstaff rejoins the company from BioAge Labs, where he was the Senior Vice President, Discovery Research. Earlier in his career, Dr. Grindstaff was Vice President, Global Operations at Solvo Biotechnology USA and Principal Investigator at XenoPort, Inc. Dr. Grindstaff holds a B.A. in Biology from Knox College, received his Ph.D. in Molecular Cell Biology and Biochemistry from Washington University in St. Louis and completed his post-doctoral fellowship in the Department of Molecular and Cellular Physiology at Stanford University.

"We believe these changes best position the company to deliver on the promise of our technology platform and provide the most value for our stockholders," stated David Greenwood, Chairman of the Board. "We remain optimistic about the potential of these mitochondrially encoded peptides and the impact they may have on the lives of patients with unmet medical needs."

About CohBar

CohBar (NASDAQ:CWBR) is a clinical stage biotechnology company focused on the research and development of mitochondria based therapeutics, an emerging class of drugs for the treatment of chronic and age-related diseases. Mitochondria based therapeutics originate from the discovery by CohBar's founders of a novel group of naturally occurring peptide sequences within the mitochondrial genome, some of which have been shown to have the potential to regulate key processes in multiple systems and organs in the body. To date, the company has discovered more than 100 mitochondrial derived peptides and generated over 1,000 analogs. CohBar's efforts focus on the development of these peptides into therapeutics that offer the potential to address a broad range of diseases associated with the underlying impact of mitochondrial dysfunction. The company's lead compound, CB4211, which is under development for the treatment of NASH and obesity, recently completed a successful Phase 1a/1b clinical trial. In addition, CohBar has four preclinical programs, the most advanced of which is CB5138-3, a peptide with broad anti-fibrotic and anti-inflammatory properties. This program is currently in IND-enabling studies with the goal of filing an IND and initiating a first-in-human study in 2022 with an initial indication of idiopathic pulmonary fibrosis. The company also has a program in ARDS, including COVID-19 associated ARDS, as well as two peptide families with potential utility in treating various forms of cancer.

For additional company information, please visit www.cohbar.com.

Forward-Looking Statements

This news release contains forward-looking statements that are not historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and other future conditions. In some cases you can identify these statements by forward-looking words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "could," "should," "would," "project," "plan," "expect," "goal," "seek," "future," "likely" or the negative or plural of these words or similar expressions. Examples of such forward-looking statements include but are not limited to statements regarding anticipated therapeutic properties and potential of our technology platform, mitochondrial peptide analogs, MBTs and other potential therapies. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in these forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include: our ability to successfully advance drug discovery and development programs, including the delay or termination of ongoing clinical trials and the timing of announcements and updates relating to our clinical trials and related data; our possible inability to mitigate the prevalence and/or persistence of the injection site reactions, receipt of unfavorable feedback from regulators regarding the safety or tolerability of CB4211 or the possibility of other developments affecting the viability of CB4211 or CB5138-3 as a clinical candidate or its commercial potential; results that are different from earlier data results including less favorable results that may not support further clinical development; our ability to raise additional capital when necessary to continue our operations; our ability to recruit and retain key management and scientific personnel; the risk that our intellectual property may not be adequately protected; our ability to establish and maintain partnerships with corporate and industry partners; and risks related to the impact on our business of the COVID-19 pandemic or similar public health crises. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission and applicable Canadian securities regulators, which are available on our website, and at www.sec.gov or www.sedar.com.

You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. The forward-looking statements and other information contained in this news release are made as of the date hereof and CohBar does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy any securities.

Contacts:

Jordyn Tarazi

Director of Investor Relations

CohBar, Inc.

(650) 445-4441

[email protected]