
Miller brings deep neuropsychiatry drug development and value creation experience, having led R&amp;D at Karuna Therapeutics through its $14 billion acquisition by Bristol Myers Squibb


Alto Neuroscience, Inc. (&#34;Alto&#34;)

<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Miller brings deep neuropsychiatry drug development and value creation experience, having led R&amp;D at Karuna Therapeutics through its $14 billion acquisition by Bristol Myers Squibb</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Alto Neuroscience, Inc. ("Alto") (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ANRO">ANRO</a>), a clinical-stage biopharmaceutical company focused on the development of novel precision medicines for neuropsychiatric disorders, today announced the appointment of Andrew Miller, Ph.D. to its Board of Directors, effective May 27, 2026.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"We are thrilled to welcome Andrew to Alto's Board at a transformative time for the Company," said Amit Etkin, M.D., Ph.D., Founder and Chief Executive Officer of Alto Neuroscience. "Few leaders in our industry have done more to advance the science and commercial reality of new medicines for serious mental illness. Andrew's firsthand experience translating novel neuropsychiatric mechanisms into approved therapies — and building a category-defining company around them — will be invaluable as we execute on our potentially pivotal Phase 2b trial of ALTO-207 in treatment-resistant depression and advance multiple additional readouts across our precision psychiatry pipeline."

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"Psychiatry remains one of the largest areas of unmet medical need in all of healthcare. Far too many patients with depression, schizophrenia, and other serious mental illnesses are left without treatments that truly work for them," said Dr. Miller. "Alto's pipeline reflects a clear-eyed focus on changing that — advancing novel mechanisms with the potential to deliver substantially better outcomes. I'm honored to join the Board and look forward to helping the team realize that vision for patients."

</p><p xmlns="http://www.w3.org/1999/xhtml">
Dr. Miller is a highly accomplished biopharmaceutical executive with expertise in neuropsychiatric drug development, corporate strategy, and value creation. Most recently, he was the Founder and President of R&amp;D at Karuna Therapeutics, where he was the lead inventor of KarXT — now marketed by Bristol Myers Squibb as COBENFY&#xAE; for the treatment of schizophrenia, the first novel mechanism approved in the indication in decades. He previously served as Karuna's Chief Operating Officer, Chief Executive Officer, and as a member of its Board of Directors, guiding the company through its $14 billion acquisition by Bristol Myers Squibb in 2024. Dr. Miller was named to <i xmlns="http://www.w3.org/1999/xhtml">Time</i> magazine's 100 Next Generation Leaders and 100 Most Influential People in Healthcare for 2025.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Dr. Miller currently serves as Chairman of the Board of Progentos Therapeutics and a member of the Board of Montara Therapeutics and as an advisor to GV (Google Ventures), General Atlantic, Vida Ventures, Longwood Fund, and the One Mind Foundation. He holds a Ph.D. in Chemical Engineering from the Massachusetts Institute of Technology and a B.S. in Chemical Engineering from the University of Illinois at Urbana-Champaign.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Alto Neuroscience</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Alto Neuroscience, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ANRO">ANRO</a>) is a clinical-stage biopharmaceutical company with a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. Alto's Precision Psychiatry Platform&#x2122; measures brain biomarkers by analyzing EEG activity, neurocognitive assessments, wearable data, and other factors to better identify which patients are more likely to respond to Alto's product candidates. Alto's clinical-stage pipeline includes novel drug candidates in treatment-resistant depression, major depressive disorder, bipolar depression, schizophrenia, and other mental health conditions. For more information, visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.altoneuroscience.com&amp;esheet=54543075&amp;newsitemid=20260528661041&amp;lan=en-US&amp;anchor=www.altoneuroscience.com&amp;index=1&amp;md5=1388a0b29b880768d6421cd2f7e3cdff" shape="rect">www.altoneuroscience.com</a> or follow Alto on X.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<i xmlns="http://www.w3.org/1999/xhtml">This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "expects," "plans," "will" and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding Alto's expectations about the potential benefits, activity, effectiveness and safety of its product candidates and Precision Psychiatry Platform ("Platform"); and Alto's expectations with regard to the design, timing, and results of its clinical trials. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including uncertainties inherent in the initiation, progress and completion of clinical trials and other important factors, any of which could cause Alto's actual results to differ from those contained in the forward-looking statements, which are described in greater detail in the section titled "Risk Factors" in Alto's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC") as well as in other filings Alto may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Alto expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as required by law.</i>

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260528661041r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260528661041/en/" rel="nofollow">https://www.businesswire.com/news/home/20260528661041/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor &amp; Media Contact 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Nick Smith
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Investors@altoneuroscience.com" shape="rect">Investors@altoneuroscience.com</a>

</p>

ANRO

Alto Neuroscience Appoints Karuna Therapeutics Founder Andrew Miller, Ph.D. to Board of Directors

Alto appoints Miller, Karuna alum, to board boosting neuropsychiatry expertise

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Miller brings deep neuropsychiatry drug development and value creation experience, having led R&amp;amp;D at Karuna Therapeutics through its $14 billion acquisition by Bristol Myers Squibb


Alto Neuroscience, Inc. (&amp;#34;Alto&amp;#34;)</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Alto Neuroscience announced the appointment of Andrew Miller, Ph.D., to its Board, effective May 27, 2026. Miller previously led Karuna Therapeutics&#039; R&amp;D through its $14 billion acquisition by Bristol Myers Squibb, bringing a proven neuropsychiatric development and value-creation track record. The move comes as Alto pursues a pivotal Phase 2b readout for ALTO-207 and broadens its precision psychiatry pipeline.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Alto appoints Andrew Miller to its Board, effective May 27, 2026.</li><li>Miller led Karuna through a $14B acquisition by BMS.</li><li>Miller&#039;s leadership could accelerate ALTO-207 Phase 2b readouts.</li><li>Alto emphasizes its Precision Psychiatry Platform for personalized treatment.</li><li>Board addition signals governance expansion and potential value creation.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Alto Neuroscience (ANRO)</strong>: Board appointment of Miller could influence strategic execution and pipeline priorities.</li><li><strong>Karuna Therapeutics (KRNT)</strong>: Miller led R&amp;D; illustrates strong neuropsychiatric product development background.</li><li><strong>Bristol Myers Squibb (BMY)</strong>: Acquired Karuna for ~$14B in 2024; validates Miller&#039;s pedigree and potential deal-making credibility.</li><li><strong>GV (Google Ventures) (NA)</strong>: Advisor connections; could assist partnerships and funding discussions.</li><li><strong>Progentos Therapeutics (NA)</strong>: Miller is Chairman; signals continued leadership roles and industry influence.</li><li><strong>Montara Therapeutics (NA)</strong>: Board member; expands Miller&#039;s industry network relevant to Alto.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments with Leadership Change. Fits as governance enhancement that may influence clinical strategy, partnerships, and long-term valuation given Miller&#039;s track record.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Strategic board appointment may lift investor sentiment ahead of readouts.</li><li>ALTO-207 Phase 2b readouts remain the primary near-term catalyst.</li><li>Miller&#039;s Karuna/BMS pedigree could help partnerships and valuation.</li><li>No clinical data or financing updates provided in the release.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Andrew Miller appointed to Alto&#039;s Board of Directors, effective May 27, 2026.</li><li>Miller formerly founded and led R&amp;D at Karuna Therapeutics.</li><li>Karuna acquired by Bristol Myers Squibb for about $14 billion in 2024.</li><li>KarXT was developed under Miller; KarXT marketed by BMS as COBENFY®.</li><li>ALTO-207 is in a potentially pivotal Phase 2b trial for treatment-resistant depression (TRD).</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over 6–12 months if ALTO-207 readouts and partnerships materialize.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<i xmlns="http://www.w3.org/1999/xhtml">Miller brings deep neuropsychiatry drug development and value creation experience, having led R&amp;D at Karuna Therapeutics through its $14 billion acquisition by Bristol Myers Squibb</i>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Alto Neuroscience, Inc. ("Alto") (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ANRO">ANRO</a>), a clinical-stage biopharmaceutical company focused on the development of novel precision medicines for neuropsychiatric disorders, today announced the appointment of Andrew Miller, Ph.D. to its Board of Directors, effective May 27, 2026.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"We are thrilled to welcome Andrew to Alto's Board at a transformative time for the Company," said Amit Etkin, M.D., Ph.D., Founder and Chief Executive Officer of Alto Neuroscience. "Few leaders in our industry have done more to advance the science and commercial reality of new medicines for serious mental illness. Andrew's firsthand experience translating novel neuropsychiatric mechanisms into approved therapies — and building a category-defining company around them — will be invaluable as we execute on our potentially pivotal Phase 2b trial of ALTO-207 in treatment-resistant depression and advance multiple additional readouts across our precision psychiatry pipeline."

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Psychiatry remains one of the largest areas of unmet medical need in all of healthcare. Far too many patients with depression, schizophrenia, and other serious mental illnesses are left without treatments that truly work for them," said Dr. Miller. "Alto's pipeline reflects a clear-eyed focus on changing that — advancing novel mechanisms with the potential to deliver substantially better outcomes. I'm honored to join the Board and look forward to helping the team realize that vision for patients."

</p><p xmlns="http://www.w3.org/1999/xhtml">
Dr. Miller is a highly accomplished biopharmaceutical executive with expertise in neuropsychiatric drug development, corporate strategy, and value creation. Most recently, he was the Founder and President of R&amp;D at Karuna Therapeutics, where he was the lead inventor of KarXT — now marketed by Bristol Myers Squibb as COBENFY&#xAE; for the treatment of schizophrenia, the first novel mechanism approved in the indication in decades. He previously served as Karuna's Chief Operating Officer, Chief Executive Officer, and as a member of its Board of Directors, guiding the company through its $14 billion acquisition by Bristol Myers Squibb in 2024. Dr. Miller was named to <i xmlns="http://www.w3.org/1999/xhtml">Time</i> magazine's 100 Next Generation Leaders and 100 Most Influential People in Healthcare for 2025.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Dr. Miller currently serves as Chairman of the Board of Progentos Therapeutics and a member of the Board of Montara Therapeutics and as an advisor to GV (Google Ventures), General Atlantic, Vida Ventures, Longwood Fund, and the One Mind Foundation. He holds a Ph.D. in Chemical Engineering from the Massachusetts Institute of Technology and a B.S. in Chemical Engineering from the University of Illinois at Urbana-Champaign.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Alto Neuroscience</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Alto Neuroscience, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ANRO">ANRO</a>) is a clinical-stage biopharmaceutical company with a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. Alto's Precision Psychiatry Platform&#x2122; measures brain biomarkers by analyzing EEG activity, neurocognitive assessments, wearable data, and other factors to better identify which patients are more likely to respond to Alto's product candidates. Alto's clinical-stage pipeline includes novel drug candidates in treatment-resistant depression, major depressive disorder, bipolar depression, schizophrenia, and other mental health conditions. For more information, visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.altoneuroscience.com&amp;esheet=54543075&amp;newsitemid=20260528661041&amp;lan=en-US&amp;anchor=www.altoneuroscience.com&amp;index=1&amp;md5=1388a0b29b880768d6421cd2f7e3cdff" shape="rect">www.altoneuroscience.com</a> or follow Alto on X.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<i xmlns="http://www.w3.org/1999/xhtml">This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "expects," "plans," "will" and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding Alto's expectations about the potential benefits, activity, effectiveness and safety of its product candidates and Precision Psychiatry Platform ("Platform"); and Alto's expectations with regard to the design, timing, and results of its clinical trials. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including uncertainties inherent in the initiation, progress and completion of clinical trials and other important factors, any of which could cause Alto's actual results to differ from those contained in the forward-looking statements, which are described in greater detail in the section titled "Risk Factors" in Alto's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission ("SEC") as well as in other filings Alto may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Alto expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as required by law.</i>

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260528661041r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260528661041/en/" rel="nofollow">https://www.businesswire.com/news/home/20260528661041/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor &amp; Media Contact 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Nick Smith
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:Investors@altoneuroscience.com" shape="rect">Investors@altoneuroscience.com</a>

</p>

Alto Neuroscience announced the appointment of Andrew Miller, Ph.D., to its Board, effective May 27, 2026. Miller previously led Karuna Therapeutics' R&D through its $14 billion acquisition by Bristol Myers Squibb, bringing a proven neuropsychiatric development and value-creation track record. The move comes as Alto pursues a pivotal Phase 2b readout for ALTO-207 and broadens its precision psychiatry pipeline.

Alto Neuroscience Appoints Karuna Therapeutics Founder Andrew Miller, Ph.D. to Board of Directors

AI Summary

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Trading Thesis

Market-Moving

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