Orange Grove Bio Closes on New Financing Round to Advance Strategic Initiatives and Welcomes Salvatore Cremona as New Chief Executive Officer

CINCINNATI, OH, August 12, 2025 – Orange Grove Bio, a biotech holding company focused on transforming and developing early, innovative ideas into pharma-ready therapies announces today that it has closed on a new round of financing led by a consortium of investors based in Denver, Colorado and effective immediately upon close Salvatore Cremona has been named CEO.  The financing will enable Orange Grove Bio to pursue key initiatives within the portfolio and across the platform under the direction of the new CEO.  Specifically, the Company will advance strategic initiatives related to Allonix Therapeutics, a developer of novel, first-in-class, orally bioavailable small molecule drugs, designed to create transformational treatments for inflammatory bowel disease (IBD), with a primary focus on ulcerative colitis.

Salvatore is a seasoned executive and investment professional with more than 15 years of experience spanning private equity, special situations, and venture capital. He will be immediately driving forward Orange Grove Bio’s mission and value creation strategy within oncology, autoimmune, and inflammatory diseases.  He recently joined Orange Grove Bio as Chief Investment Officer and serves on the Board of Directors of Orange Grove Bio and Allonix Therapeutics.

“I’m excited to leverage my background across numerous industries and investing to advance the Orange Grove Bio platform,” Salvatore said.  “With Orange Grove Bio’s track record of cultivating innovative promising therapies and successful partnerships across academia and the pharma industry, this new round of financing will allow not only Allonix Therapeutics to pursue its full potential but the entire platform to reach a new stage of growth for the future of the business.”

About Orange Grove Bio

Orange Grove Bio is an integrated biopharmaceutical company dedicated to investing in groundbreaking technologies and developing therapies to profoundly improve patient lives. Founded in 2019 to bridge regional and structural gaps in venture capital funding, our leadership team combines seasoned pharma executives, healthcare investment and operational experts who actively participate in guiding growth-stage companies to success.  Currently, the platform has five (5) active portfolio companies, launched seven (7) and reviewed over 1,500 academic programs throughout its history to date.

For more information, please visit: www.orangegrovebio.com

LinkedIn: https://www.linkedin.com/company/orangegrovebio

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