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Seth Cohen is appointed Chief Financial Officer, bringing over thirty years of financial industry experience to DMK, and seasoned corporate lawyer John Dorbin assumes role of General Counsel Corporate Secretary
Appointments strengthen leadership team and provide financial and corporate expertise as the organization focuses on improving DMK's existing commercial product portfolio and reducing opioid related deaths
SAN DIEGO, Oct. 19, 2023 (GLOBE NEWSWIRE) -- DMK Pharmaceuticals Corporation (NASDAQ:DMK), a commercial stage neuro-biotech company primarily focused on developing and commercializing products for the treatment of opioid overdose and substance use disorders, today announced a series of management changes to optimize its leadership structure. Seth Cohen has been appointed as Chief Financial Officer and John Dorbin will assume the position of General Counsel Corporate Secretary. Mr. Cohen will be succeeding the outgoing interim CFO and President and Chief Operating Officer, David Marguglio. These organizational changes will be effective immediately. The new team is tasked with operating a lean and effective organization committed to increasing the sales of DMK's existing commercial products and advancing its clinical pipeline.
"We welcome Seth and John to our executive leadership team at a critical point for our company," said Eboo Versi, M.D., Ph.D., CEO of DMK Pharmaceuticals. "As our team works to remove historic overhangs and establish DMK as a leader in the treatment of substance abuse disorders, we will rely on Seth's extensive financial background and John's impressive legal track record for guidance. The strategic reorganization of the leadership team and having an in-house general counsel will result in a more cost-effective, coordinated and streamlined approach to our operations. Our goal is to enter an era of renewed stability and profitability to increase stockholder value by making a meaningful contribution to providing alternative, life-saving therapies to curb the opioid crisis."
Mr. Cohen has over thirty years of experience in business and finance. Since 2011, Mr. Cohen has been a principal at CFOX Consulting, LLC, an advisory firm that specializes in CFO and related services for public, private equity backed, and start-up businesses. From 2000 to 2011, Mr. Cohen served in various leadership roles of increasing responsibility at Newtek Business Services, Inc. In 2007, he was appointed CFO and tasked with directing the corporate accounting and finance department as well as overseeing the company's various subsidiaries. Prior to that, Mr. Cohen served as Director of the Mayor's Office of Pensions and Public Finance for the City of New York where he managed the securitization of assets, oversaw multibillion-dollar debt issuances, and initiated and helped oversee pension policy. As a trustee for the City of New York's five pension systems, Mr. Cohen oversaw $100 billion in assets. He developed his corporate and municipal finance skills at Lehman Brothers, Patricof & Co., and Dean Witter Reynolds Inc. Mr. Cohen holds an MBA from Columbia Business School and a B.A. from Yale University.
Mr. Dorbin is a seasoned executive with over two decades of experience representing national and international publicly traded companies and local government entities and serving as an independent business consultant. He joins DMK from Arcimoto, Inc. (NASDAQ:FUV), a manufacturer of electric vehicles, where he served in leadership roles of increasing responsibility, culminating in his final role as the Chief Legal Officer and Corporate Secretary. From February 2012 to August 2018, Mr. Dorbin served as Vice President, General Counsel, and Assistant Secretary for Supreme Industries, Inc. and its wholly owned subsidiary, Supreme Corporation, a national manufacturer of truck bodies and specialty vehicles, which was successfully sold to Wabash National Corporation in 2017. He also was Corporate Counsel at CTS Corporation, an international electronics manufacturer, from May 2005 to February 2012. Mr. Dorbin holds a B.A., With Distinction, from Purdue University and a J.D. from the University of Notre Dame.
