Innovate Biopharmaceuticals Announces a New Chief Executive Officer and Chief Medical Officer

Innovate Biopharmaceuticals, Inc. (Nasdaq: INNT), a clinical stage biotechnology company focused on developing novel therapeutics for autoimmune and inflammatory diseases, announced the departure of the Chief Executive Officer and member of the Board of Directors, Christopher Prior, Ph. D, in order to pursue other opportunities. The current Executive Chairman, Sandeep Laumas, M.D., has been appointed as Innovate's Chief Executive Officer. Dr. Laumas served as the executive chairman of Innovate Biopharmaceuticals Inc. since 2014 and oversaw the company since its seed financing and listing on Nasdaq last year.

Dr. Prior noted, "I have the utmost confidence in the entire management team's commitment and ability to bring much needed therapies to patients with unmet needs."

Dr. Laumas commented, "Our team remains focused on meeting our business goals of having the first to market treatment for celiac disease and creating long-term value for our shareholders."

The company also announced the hiring of Patrick Griffin, M.D., FACP, as Chief Medical Officer to focus on executing a celiac disease phase 3 trial after previously announcing his joining Innovate to lead clinical development on November 26, 2018.

About Innovate Biopharmaceuticals, Inc. (Nasdaq: INNT):
Innovate is a clinical stage biotechnology company focused on developing novel therapeutics for autoimmune and inflammatory diseases. Innovate's lead drug candidate, larazotide acetate, has a mechanism of action that renormalizes the dysfunctional intestinal barrier by decreasing intestinal permeability and reducing antigen trafficking, such as gliadin fragments in celiac disease, and bacterial toxins and immunogenic antigens in nonalcoholic steatohepatitis (NASH). In several diseases, including celiac disease, NASH, Crohn's disease, ulcerative colitis, irritable bowel syndrome (IBS), type 1 diabetes mellitus (T1DM), chronic kidney disease (CKD), the intestinal barrier is dysfunctional with increased permeability.

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