CervoMed Strengthens Board with Appointment of Life Sciences Business Strategy Leader David Quigley

Rhea-AI Summary

CervoMed (NASDAQ: CRVO) appointed David Quigley to its Board of Directors effective Oct 28, 2025. Mr. Quigley is a former Senior Partner at McKinsey & Company who led Life Sciences and Private Capital practices (Senior Partner 2010–2025) and brings strategy, commercial, transaction, and M&A experience.

The appointment aligns with CervoMed’s near‑term corporate priorities: planned Phase 3 in dementia with Lewy bodies (DLB) and anticipated FDA feedback on Phase 3 design in Q4 2025. Management says Quigley’s network and commercial expertise will support Phase 3 planning, partnering, and potential commercialization of neflamapimod following Phase 2b results.

Positive

• Board adds David Quigley, ex‑McKinsey Senior Partner (2010–2025)
• Expertise in life sciences strategy, private capital, and M&A
• Timing aligns with expected FDA feedback on Phase 3 in Q4 2025

Negative

• Clinical‑stage program still requires Phase 3 and regulatory clearance
• No financial or guidance details included for development or commercialization

Insights

Life sciences strategy expert

Board appointment brings commercial and transaction experience while near-term regulatory feedback on Phase 3 design is the key monitorable.

CervoMed added David Quigley, a long‑tenured McKinsey leader with life sciences and private capital experience, to its Board. His skills in strategy, commercial planning, partnering, and M&A align with the company’s stated focus on preparing a Phase 3 program and commercialization planning for neflamapimod.

Primary dependencies include receiving constructive FDA feedback on the planned Phase 3 design and converting commercial planning into concrete partnerships or financing. The company expects FDA feedback during Q4 2025, which is a discrete near‑term milestone that will materially inform trial design and development timing. Watch for that feedback and any subsequent announcements about trial size, endpoints, regulatory path, or partner discussions over the next 3–12 months.

Mr. Quigley most recently led McKinsey & Company’s Private Capital practice and previously led various Life Sciences practices at the firm

Appointment adds deep business strategy, transactional, and commercial expertise as CervoMed prepares for Phase 3 and commercialization planning

BOSTON, Oct. 28, 2025 (GLOBE NEWSWIRE) -- CervoMed Inc. (NASDAQ: CRVO) (CervoMed or the Company), a clinical-stage biotechnology company developing treatments for age-related brain disorders, today announced the appointment of David Quigley to its Board of Directors (Board). Mr. Quigley is a seasoned executive and former Senior Partner at McKinsey & Company, where he led the firm’s Life Sciences and Private Equity practices. His appointment comes as CervoMed prepares for key milestones, including U.S. Food and Drug Administration (FDA) feedback on the design of its planned Phase 3 trial in patients with dementia with Lewy bodies (DLB), expected during the fourth quarter of 2025.

“It is a pleasure to welcome David to our Board,” said Joshua Boger, Ph.D., Chair of the CervoMed Board of Directors and founder of Vertex Pharmaceuticals. “His strategic insight and commercial acumen are ideally suited to support CervoMed’s mission as we advance neflamapimod toward transformative milestones. We look forward to leveraging his extensive business strategy and financial insights, as well as his broad network of relationships in the pharmaceutical and private equity industries, to drive progress for patients and value for our stockholders.”

John Alam, M.D., President and Chief Executive Officer of CervoMed, commented, “David’s deep industry knowledge and proven track record supporting successful pipeline and commercial development, partnering, and M&A will be invaluable as we progress our planned Phase 3 program in DLB and evaluate strategic and business development initiatives.”

Mr. Quigley added, “I am honored to join CervoMed’s Board at such a pivotal and exciting time for the Company. The Phase 2b clinical results are compelling, and I believe neflamapimod has the potential to become a first-in-class treatment in DLB. I look forward to working closely with CervoMed’s outstanding team and Board to advance this important program and help unlock its full value for patients and stockholders."

Mr. Quigley’s distinguished career at McKinsey & Company across more than 25 years included serving as Senior Partner (2010–2025) and holding leadership roles such as Global Head of Private Capital (Private Equity), North America Head of Life Sciences, and Global Lead of Life Sciences Commercial. He has also been a guest lecturer on Life Sciences at Columbia University’s Mailman School of Public Health. Mr. Quigley holds a B.A. from University College Dublin, an M.Sc. from Queen’s University Belfast, and an M.B.A. from INSEAD.

About Dementia with Lewy Bodies

DLB is the second most common progressive dementia after Alzheimer’s disease, affecting millions worldwide. Patients may experience a combination of decline in cognitive function, cognitive fluctuations, visual hallucinations, and sleep disorders, as well as motor symptoms similar to Parkinson’s disease. There are no approved treatments for DLB in the United States or European Union, and the current standard-of-care therapies only temporarily relieve symptoms.

About CervoMed

CervoMed is a clinical-stage company developing treatments for age-related brain disorders. Its lead drug candidate, neflamapimod, is a small molecule designed to restore communication between brain cells by inhibiting a key enzyme involved in inflammation and neurodegeneration. CervoMed’s recently completed, successful Phase 2b RewinD-LB trial evaluated neflamapimod in DLB patients who have a low likelihood of AD co-pathology, and the Company plans to initiate a global Phase 3 trial in the same patient population in mid-2026.

Forward-Looking Statements
This press release includes express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, regarding the intentions, plans, beliefs, expectations or forecasts for the future of the Company, including, but not limited to: the therapeutic potential of neflamapimod, including the degree of sustainability of any therapeutic effects; the anticipated timing and achievement of clinical and development milestones, including the Company’s announcement of additional data or any meeting or correspondence between the Company and the FDA; any other expected or implied benefits or results, including that any initial clinical results observed with respect to neflamapimod in the RewinD-LB trial will be replicated in later trials; and the timing of the initiation of any potential future trials or interactions with regulatory authorities, including the Company’s need to acquire sufficient funding for any Phase 3 trial of neflamapimod in DLB and/or the future approval, if any, of neflamapimod by regulatory authorities for the treatment of DLB or any other indication. Terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “aims,” “seeks,” “intends,” “may,” “might,” “could,” “might,” “will,” “should,” “approximately,” “potential,” “target,” “project,” “contemplate,” “predict,” “forecast,” “continue,” or other words that convey uncertainty of future events or outcomes (including the negative of these terms) may identify these forward-looking statements. Although there is believed to be reasonable basis for each forward-looking statement contained herein, forward-looking statements by their nature involve risks and uncertainties, known and unknown, many of which are beyond the Company’s control and, as a result, actual results could differ materially from those expressed or implied in any forward-looking statement. Particular risks and uncertainties include, among other things, those related to: the Company’s available cash resources and the availability of additional funds on acceptable terms; the results of the Company’s clinical trials, including RewinD-LB; the likelihood and timing of any regulatory approval of neflamapimod or the nature of any feedback the Company may receive from the FDA; the ability to implement business plans, forecasts, and other expectations in the future; general economic, political, business, industry, and market conditions, inflationary pressures, and geopolitical conflicts; and the other factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (SEC) on March 17, 2025, and other filings that the Company may file from time to time with the SEC. Any forward-looking statements in this press release speak only as of the date hereof (or such earlier date as may be identified). The Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except to the extent required by law.

Contacts

Investors:
PJ Kelleher
LifeSci Advisors
Investors@cervomed.com
617-430-7579

Media:
Argot Partners
liza@argotpartners.com
212-600-1902

FAQ

Who is David Quigley and why did CervoMed (CRVO) add him to the board on Oct 28, 2025?

David Quigley is a former McKinsey Senior Partner who led Life Sciences and Private Capital practices; CervoMed cites his strategy, commercial, and M&A experience to support Phase 3 and commercialization planning.

How does David Quigley’s appointment affect CervoMed’s planned Phase 3 trial for DLB (CRVO)?

Management says Quigley’s strategic and commercial expertise will support Phase 3 design, partnering, and commercialization planning ahead of FDA feedback expected in Q4 2025.

When does CervoMed expect FDA feedback on its Phase 3 design for neflamapimod in DLB (CRVO)?

CervoMed expects U.S. FDA feedback on the planned Phase 3 trial design during the fourth quarter of 2025.

Does David Quigley have transaction and private equity experience that could help CervoMed (CRVO)?

Yes; Quigley led McKinsey’s Private Capital practice and is noted for supporting partnering and M&A activities, per the appointment announcement.

Will David Quigley’s board role accelerate commercialization of neflamapimod for CervoMed (CRVO)?

The company states Quigley’s commercial acumen and network are intended to support commercialization planning, but Phase 3 and regulatory steps remain required before commercialization.