Levicept Strengthens Leadership With The Appointment Of Darlene Deptula-Hucks As It Eyes Next Phase Of LEVI-04 Development

Levicept Ltd has appointed Darlene Deptula-Hicks as its new Chief Financial Officer (CFO) as the biotechnology company advances the development of LEVI-04, its investigational treatment for osteoarthritis (OA). The appointment strengthens the company's executive leadership at a time when it is preparing for the next phase of clinical development following positive Phase II trial results for the therapy. As part of the leadership transition, current acting CFO Nicholas Stern will step down from the role.

Deptula-Hicks brings extensive experience from the biotechnology and pharmaceutical industries, particularly in corporate finance, capital raising, strategic partnerships, and mergers and acquisitions. She currently serves as a Board Member and Audit Committee Chair at Aldeyra Therapeutics and as a Board Member at Lytix Biopharma. Her previous executive roles include acting CFO positions at Normunity and Greywolf Therapeutics. Between 2019 and 2023, she served as CFO of F-star Therapeutics, where she helped lead the company's Nasdaq listing, a successful PIPE financing, an $85 million follow-on public offering, and its all-cash acquisition in 2023.

Levicept Chief Executive Officer Eliot Forster said he had worked closely with Deptula-Hicks during their time at F-star Therapeutics and described her as a highly accomplished financial leader. He noted that the company is well positioned to advance LEVI-04 following encouraging Phase II clinical trial results and said her financial expertise will play an important role in supporting the company's long-term strategy. He also thanked Nicholas Stern for his contributions during his tenure as acting CFO.

Commenting on her appointment, Deptula-Hicks said she believes LEVI-04 has the potential to become a first-in-class non-opioid treatment for osteoarthritis, a disease that affects millions of people worldwide. She highlighted the therapy's Phase II trial results, which demonstrated significant pain relief, a favorable safety profile, and potential disease-modifying benefits in more than 500 patients. She added that she is excited to join the company and help advance the program through its next stages of development.

Before joining Levicept, Deptula-Hicks held senior leadership roles across biotechnology, pharmaceutical, medical device, and diagnostics companies in the United States and Europe. She has extensive experience supporting companies through public listings, major fundraising initiatives, strategic collaborations, and merger and acquisition transactions. She holds an MBA from Rivier University, a bachelor's degree in Accounting from Southern New Hampshire University, and has completed the Executive Education Program at The Tuck School of Business.