Rafael Holdings Positions for Growth as Bill Conkling Steps Down as CEO
Company - People | Apr 24, 2025 | Globenewswire
Rafael Holdings Inc. has announced a management transition with CEO Bill Conkling stepping down to take an advisory role, following the merger with Cyclo Therapeutics. Howard Jonas, Executive Chairman and Chairman of the Board, will step in as CEO. This change comes as the company strengthens its focus on the development of Trappsol Cyclo, a treatment for Niemann-Pick Disease Type C1 (NPC1). The TransportNPC Phase 3 clinical trial for this treatment is fully enrolled, with interim results expected in mid-2025. Conkling's leadership was instrumental in positioning Rafael as a late-stage clinical development company. The transition aims to ensure the company is well-prepared for upcoming trial analyses and market positioning, with Scott Fine of Cyclo Therapeutics to continue leading efforts in clinical execution and shareholder value creation.
Sectors
- Biotechnology
- Pharmaceuticals
- Healthcare
Geography
- United States – Rafael Holdings and its associated companies are based in the United States, which is the primary market and operations base, as indicated by the headquarters location in Newark, NJ.
Industry
- Biotechnology – The article discusses Rafael Holdings' focus on developing a new biotechnological treatment for Niemann-Pick Disease Type C1, highlighting its core involvement in clinical-stage biotechnology companies.
- Pharmaceuticals – Rafael Holdings' activities include the interest and development of pharmaceutical candidates, particularly in addressing rare and fatal diseases such as NPC1.
- Healthcare – The focus on developing treatments for genetic disorders like NPC1 places the entities involved squarely within the healthcare sector, emphasizing advancements in patient care through new therapeutics.
Financials
- Not specified – The financial specifics of the merger or future projections weren't detailed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rafael Holdings, Inc. | Main Company; Target Company | Company | Rafael Holdings is a company involved in clinical and early-stage pharmaceutical interests, including the development of a treatment for Niemann-Pick Disease Type C1. |
| Bill Conkling | Former CEO | Person | Bill Conkling has been leading Rafael Holdings and is transitioning to an advisory role following the merger with Cyclo Therapeutics. |
| Howard Jonas | Executive Chairman and New CEO | Person | Howard Jonas is the Executive Chairman who will assume the role of CEO at Rafael Holdings. |
| Cyclo Therapeutics | Subsidiary Company; Involved in Clinical Development | Company | Cyclo Therapeutics is a wholly-owned subsidiary of Rafael Holdings, focusing on the clinical trial of Trappsol Cyclo for NPC1. |
| Scott Fine | CEO of Cyclo Therapeutics | Person | Scott Fine is leading Cyclo Therapeutics, overseeing the clinical trials and value creation post-merger with Rafael Holdings. |
| LipoMedix Pharmaceuticals Ltd. | Byproduct company | Company | A clinical-stage pharmaceutical company in which Rafael Holdings has majority equity interests. |
| Cornerstone Pharmaceuticals, Inc. | Byproduct/affiliate company | Company | Formerly known as Rafael Pharmaceuticals Inc., focuses on cancer metabolism-based therapeutics. |
| Rafael Medical Devices, LLC | Affiliate Company | Company | An orthopedic-focused medical device company under Rafael Holdings' interests. |
| Day Three Labs, Inc. | Affiliate Company | Company | Specializes in reimagining cannabis product offerings, showing Rafael Holdings' broad investment interests. |