NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) announced today that David Wambeke has joined the company as Chief Business Officer and concurrently purchased 1,000,000 shares of NeuroOne common stock at $0.6704 per share. The move underscores the company's commitment to expanding its drug delivery program and enhancing investor relations.
Wambeke will lead NeuroOne's drug delivery program and work closely with the executive team to advance clinical development and commercialization. His responsibilities include refining product requirements, expanding relationships with key opinion leaders, and engaging pharmaceutical partners to maximize the strategic value of the company's emerging drug delivery platform. He will also oversee investor relations and support strategic business development initiatives.
“David brings a rare combination of public company experience, capital markets expertise, and a demonstrated ability to translate strategic vision into operational and clinical execution,” said Dave Rosa, CEO of NeuroOne. “As we continue to execute on our strategy and expand awareness of NeuroOne’s technology platform, we believe David will be instrumental in sharpening our messaging, deepening investor engagement, and advancing business development activities that support long-term value creation.”
Wambeke previously served as Chief Business Officer at DiaMedica Therapeutics, where he led the expansion of the company's lead biologic into preeclampsia and oversaw a positive Phase 2 clinical trial. Prior to that, he spent 16 years at Craig-Hallum Capital Group in life sciences investment banking, advising on equity financings, M&A, and strategic transactions. He began his career in the U.S. Army and was awarded a Purple Heart after being wounded in combat in Baghdad, Iraq.
“I’m excited to join NeuroOne at such a pivotal moment and to meaningfully align myself with shareholders through my investment,” said Wambeke. “With four FDA 510(k)-cleared devices and a strategic partnership with Zimmer Biomet, NeuroOne has validated its platform technology and established a strong commercial foundation in epilepsy and trigeminal nerve applications. As the company continues to scale commercialization across these cleared indications, I believe even greater opportunities lie ahead in basivertebral ablation, drug delivery, and spinal cord stimulation.”
In connection with his appointment, NeuroOne granted Wambeke an inducement stock option to purchase 500,000 shares of common stock under the NeuroOne Medical Technologies Corporation 2021 Inducement Plan. The option has an exercise price of $0.6704 per share, a 10-year term, and vests over four years. This grant was a material inducement to his acceptance of employment, in accordance with Nasdaq Listing Rule 5635(c)(4).
NeuroOne intends to use the net proceeds from the share purchase to support ongoing clinical and product development activities, as well as for working capital and general corporate purposes. The company markets a minimally invasive electrode technology platform with four FDA-cleared product families: Evo® Cortical Electrodes, Evo® sEEG Electrodes, OneRF® Ablation System, and OneRF® Trigeminal Nerve Ablation System. For more information, visit nmtc1.com.
