SIMOS SIMEONIDIS, PHD JOINS ALLY BRIDGE GROUP AS CO-CEO AND CO-CIO

NEW YORK,July 21,2022 --Ally Bridge Group (the "Firm") is pleased to announce Simos Simeonidis,PhD joined the Firm as Co-Chief Executive Officer and Co-Chief Investment Officer based in New York. Dr. Simeonidis is also assuming the role of Portfolio Manager for Ally Bridge Group's public equity strategy.

Ally Bridge Group is a global healthcare investment manager focused on high-impact life science innovation addressing unmet medical needs. The Firm manages both private equity vehicles and a long-biased public equity strategy with specialization across the medical technology,tools and diagnostics,biopharmaceuticals and digital health subsectors. Ally Bridge Group was founded in 2013 by Frank Yu and has offices in New York and Hong Kong.

In a recent letter sent to investors,Mr. Yu explained Dr. Simeonidis will partner with him in leading firmwide strategic initiatives and achieving investment objectives. Mr. Yu will remain at the Firm as Founder,Co-Chief Executive Officer and Co-Chief Investment Officer. For the foreseeable future,while Mr. Yu continues leading the Firm's private investment business overall,Dr. Simeonidis is focusing primarily on the public equity strategy and overseeing the Firm's biotechnology portfolio.

As explained by Mr. Yu,"It has been my deliberate long-term plan that Ally Bridge Group,an investment manager dedicated to pursuing investments in cutting-edge life science and healthcare innovators,must be led,sooner or later,by a strong biomedical scientist with extensive investment experience."

"Dr. Simeonidis has a fantastic combination of an impeccable scientific pedigree and more than fifteen years of combined equity research and investment management experience,constituting a differentiated edge as a thought leader and investor. He is a well-respected team leader and mentor to many in the Wall Street life sciences research and investment community," said Mr. Yu.

"I am thrilled to join Ally Bridge Group to leverage its already established brand and partner with its Founder,Frank Yu,to take the Firm to new heights," commented Dr. Simeonidis. "With its strong science-driven culture,global experience and diversified investment mandates across all life science sub-sectors,and my focus on improving synergies between the public and private sides of the business,we believe that Ally Bridge Group is well-positioned to capitalize on the current sharp downturn in the life sciences investment space."

Prior to joining Ally Bridge Group,Dr. Simeonidis was Partner,Senior Managing Director,Co-Head of Research and Portfolio Manager at Sarissa Capital Management ("Sarissa"),an investment manager focused on shareholder activism within the healthcare sector. Before Sarissa,Dr. Simeonidis was Managing Director and Senior Biotechnology Analyst at Royal Bank of Canada in New York and spent over a decade covering the biopharmaceutical sector at a number of investment banks,including Cowen and Company as well as Morgan Stanley. Dr. Simeonidis began his industry career as Associate Director in Business Development & Licensing at Novartis.

Before his move to industry,Dr. Simeonidis was a faculty member at Harvard Medical School and the Beth Israel Deaconess Medical Center,where his work focused on the transcriptional regulation of gene expression.

Dr. Simeonidis holds a BS in Biology from Loyola University of Chicago and an MA,MPhil and PhD in Cellular,Molecular and Biophysical Studies from Columbia University's Vagelos College of Physicians and Surgeons. He completed his postdoctoral fellowship in the laboratory of Professor Tucker Collins at Harvard Medical School and the Brigham and Women's Hospital. Dr. Simeonidis also holds an MBA in Healthcare Management from the Wharton School of the University of Pennsylvania.

Media Contact

All Bridge Group

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New York,New York 10022

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