5 January 2022 - - US-based clinical-stage biopharmaceutical company Anebulo Pharmaceuticals, Inc. (NASDAQ: ANEB) has named Simon Allen as chief executive officer and a member of the company's board of directors, effective February 1st, 2022, the company said.

Allen succeeds Daniel Schneeberger, MD, who has resigned as CEO and as a director as of that same date.

Since March 2019, Allen has served as Chief Business officer of Ambrx Biopharma Inc. (NYSE: AMAM), a position he previously held from 2010 through 2015.

Ambrx is an engineered precision biologics company developing antibody-drug conjugate and immune-oncology conjugate candidates for breast cancer, gastric cancer and other solid tumors.

At Ambrx, Allen established multiple partnerships with companies including Bristol Myers Squibb, Pfizer, Merck, Eli Lilly, Astellas, BeiGene and Sino Biopharma that have generated more than USD 270m in revenue with a potential USD 1bn in future milestones and royalties.

From 2016 to 2018 he was chief executive officer of CohBar, where he transitioned the company from the preclinical to the clinical stage and managed the listing of its shares on NASDAQ, with subsequent inclusion in the Russell 2000 Index.

Earlier Allen held various management, commercial and business development positions at Nuvelo, Skyepharma, CovX and Kalypsys.

Allen started his career as a research biologist in the antiviral group at Gilead Sciences before working in healthcare equity research and investment banking in the US and Australia. He holds a BSc in biochemistry and genetics from the University of Sydney and an MBA from the Australian Graduate School of Management.

Anebulo Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance abuse.

Its lead product candidate, ANEB-001, is intended to reverse the negative effects of acute cannabinoid intoxication within one hour of administration.

ANEB-001 is a competitive antagonist at the human cannabinoid receptor type 1 with good oral bioavailability and brain penetration (rat brain: plasma ratio of approximately 1.5).

Clinical trials completed to date have shown that ANEB-001 is rapidly absorbed, well tolerated, and may lead to weight loss, an effect that is consistent with CB1 antagonism in the central nervous system.