REHOVOT, Israel and NEW YORK, June 14, 2017 (GLOBE NEWSWIRE) -- AIT Therapeutics Inc. (OTC:AITB), a clinical stage anti-microbial therapeutic company treating respiratory diseases with nitric oxide (NO), today announced the appointment of Steve Lisi as Chief Executive Officer, effective June 14, 2017. Mr. Lisi is currently Chairman of the Board. Amir Avniel, the current CEO and a founder, will transition to become President and Chief Operating Officer of the company.
“2017 will be a transformative year for AIT Therapeutics and I am thrilled to be appointed CEO at this important time,” said Mr. Lisi. “We have already successfully completed a reverse merger, raised gross proceeds of $10.9 million in an equity offering and our stock is now trading on the Nasdaq OTC marketplace. Our vision is to make our proprietary NO formulation and device an effective treatment for multiple lung infections and diseases. We expect to report Phase 2 data in nontuberculous mycobacteria (NTM) in the fourth quarter of 2017 and Phase 3 data in bronchiolitis (RSV) exacerbations requiring hospitalizations in the first quarter of 2018. I believe that AIT has the potential to deliver significant value while positively impacting the lives of patients. I look forward to working with AIT's executive team and Board to advance the company further."
“On behalf of the board, we are very pleased that Amir Avniel will assume an ongoing leadership role at AIT as President and COO, building on his important accomplishments to date,” continued Mr. Lisi.
Mr. Lisi has extensive executive management and investment experience covering the life sciences industry. Since 1995 he has been involved with investing in private and public healthcare companies ranging from $2 million to $300 billion in market capitalization. He has been a director of AIT Therapeutics since January 2017 and was appointed Chairman of the Board in May 2017. He previously served as Senior Vice President of Business and Corporate Development at Flamel Technologies (renamed Avadel Pharmaceuticals – AVDL) where he restructured the company and transformed it from $100 million in enterprise value to $1 billion in three years. Prior to his position with Flamel, Mr. Lisi held positions as an analyst at Mehta and Isaly (now OrbiMed) and a portfolio manager at SAC Capital, Millennium Partners, and Deerfield Management.
Mr. Lisi is the Co-Founder and Chairman of the Board of Mico Innovations, a next-generation novel bare metal stent company and a board member of Incysus, Ltd., a leading-edge immunotherapy company targeting solid tumors. Mr. Lisi received a Master in International Business from Pepperdine University.
About AIT Therapeutics Inc.
AIT Therapeutics Inc. is a clinical-stage anti-microbial therapeutic company developing novel non-antibiotic anti-microbial therapeutics for respiratory diseases based on nitric oxide (NO) as well as other indications. The Company is applying its therapeutic expertise to prevent and treat lower respiratory tract infections, many of which cannot effectively be addressed with current standards of care. AIT Therapeutics is advancing its revolutionary respiratory targeted system in a pipeline of clinical trials for the treatment of bronchiolitis (RSV) exacerbations, and nontuberculous mycobacteria (NTM). For more information, visit www.AIT-Pharm.com.
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