SAN MATEO, Calif., April 20, 2026 (GLOBE NEWSWIRE) -- Sagimet Biosciences Inc. (NASDAQ:SGMT), a clinical-stage biopharmaceutical company developing novel therapeutics targeting dysfunctional metabolic and fibrotic pathways, today announced the appointment of Andreas Grauer, MD, as Chief Medical Officer, effective April 20, 2026. Sagimet's prior Chief Medical Officer, Eduardo Bruno Martins, MD, DPhil, who will continue to support the Company as an external scientific advisor, has retired effective April 20, 2026.

"We are delighted to welcome Dr. Andreas Grauer to our executive leadership team as Chief Medical Officer. Dr. Grauer has an extensive track record in leading clinical development and medical affairs in global pharmaceutical organizations as well as an impressive academic career. His expertise and insights will be key as we advance our FASN inhibitors in clinical development," said David Happel, Chief Executive Officer of Sagimet. "We also want to thank Dr. Eduardo Martins for his many significant contributions to advancing Sagimet's FASN inhibitor pipeline over his five-year tenure, as he retires and transitions into his new external advisor role."

"I am honored to join Sagimet to lead the clinical development of the Company's FASN inhibitor drug candidates," Dr. Grauer commented. "It is an exciting time to join Sagimet, and I look forward to leveraging my experience in drug development and medicals affairs to bring innovative therapeutics to underserved patients."

Dr. Grauer brings more than two decades of global biopharmaceutical leadership experience, with deep expertise spanning clinical development, medical affairs, and regulatory strategy across multiple therapeutic areas. He most recently served as Chief Medical Officer at Omeros Corporation (NASDAQ:OMER), where he led all clinical, safety, and medical functions advancing a pipeline of complement-targeted therapies in hematologic and immune-mediated diseases. Prior to Omeros, Dr. Grauer held Chief Medical Officer roles at Federation Bio and Corcept Therapeutics Incorporated, where he built and led global development organizations, advanced first-in-class programs into the clinic, and drove regulatory interactions across the U.S., Europe, and other major markets. Earlier in his career, Dr. Grauer spent over a decade at Amgen, Inc. in senior global development leadership roles, including Therapeutic Area Head for Bone, Nephrology, and Inflammation, with responsibility for late-stage programs, global filings, and lifecycle strategy for multiple blockbuster assets. He began his industry career at Procter & Gamble Pharmaceuticals in medical affairs. In addition to his industry experience, Dr. Grauer is a physician-scientist with over 120 peer-reviewed publications, including in leading journals such as The New England Journal of Medicine and The Lancet, and continues to serve as an Associate Professor of Medicine at the University of Heidelberg Medical School, Germany, where he received his MD and also completed his clinical training in internal medicine and endocrinology.

Inducement Equity Grant

In connection with Dr. Grauer joining Sagimet, the Compensation Committee of Sagimet's Board of Directors approved the grant of an inducement stock option to be granted on April 20, 2026 to purchase a number of shares of the Company's Series A common stock with a total fair market value of $1,340,000 as determined based on the Black Scholes value on April 20, 2026.

The option award was granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of Dr. Grauer's employment compensation and was granted as an inducement material to his acceptance of employment with Sagimet.

The options have an exercise price equal to the closing price of Sagimet's Series A common stock as reported by the Nasdaq Global Market on April 20, 2026. The options have a ten-year term and vest over four years, with 25% of the number of shares underlying each stock option vesting on the one-year anniversary of the applicable vesting commencement date (based on the employee's employment commencement date) and the remaining shares vesting monthly over 36 months thereafter, subject to the individual's continued service with Sagimet through the applicable vesting dates.

About Sagimet Biosciences

Sagimet is a clinical-stage biopharmaceutical company developing novel FASN inhibitors designed to target dysfunctional metabolic and fibrotic pathways in conditions resulting from the overproduction of the fatty acid, palmitate. Denifanstat, an oral, once-daily pill, met all primary endpoints in its Phase 2b FASCINATE-2 clinical trial in MASH, as well as all primary and secondary endpoints in Sagimet's license partner for China's Phase 3 clinical trial in moderate-to-severe acne. A combination of denifanstat and resmetirom was tested in a Phase 1 PK clinical trial and is planned to be developed for patients with MASH cirrhosis (F4). TVB-3567, a second oral FASN inhibitor which is planned to be developed for acne, is currently being tested in a Phase 1 first-in-human clinical trial. For additional information about Sagimet, please visit www.sagimet.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of, and made pursuant to the safe harbor provisions of, The Private Securities Litigation Reform Act of 1995. All statements contained in this press release, other than statements of historical facts or statements that relate to present facts or current conditions, including but not limited to, statements regarding: the expected timing of the presentation of data from ongoing clinical trials, Sagimet's clinical development plans and related timelines and anticipated development milestones, Sagimet's cash and financial resources and expected cash runway are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause Sagimet's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, these statements can be identified by terms such as "may," "might," "will," "should," "expect," "plan," "aim," "seek," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "forecast," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Sagimet has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Sagimet believes may affect its business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond Sagimet's control, including, among others: the clinical development and therapeutic potential of denifanstat, TVB-3567 or any other drug candidates or combination therapies developed by Sagimet; Sagimet's ability to advance drug candidates into and successfully complete clinical trials within anticipated timelines; Sagimet's relationship with Ascletis Bioscience Co. Ltd., and the success of its development efforts for denifanstat; the accuracy of Sagimet's estimates regarding its capital requirements; and Sagimet's ability to maintain and successfully enforce adequate intellectual property protection. These and other risks and uncertainties are described more fully in the "Risk Factors" section of Sagimet's most recent filings with the Securities and Exchange Commission and available at www.sec.gov. You should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in these forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Moreover, Sagimet operates in a dynamic industry and economy. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that Sagimet may face. Except as required by applicable law, Sagimet does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Investor Contact:

Joyce Allaire

LifeSci Advisors

JAllaire@LifeSciAdvisors.com

Media Contact:

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LifeSci Communications

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Sagimet Biosciences Announces Appointment of Andreas Grauer, MD, as Chief Medical Officer