vTv Therapeutics, a clinical-stage biopharmaceutical company, added Edward P. Taibi to its board, the company announced in a press release on Tuesday.

Taibi has spent the last 16 years at MacAndrews & Forbes Incorporated, a holding company owned by billionaire Ron Perelman, where he currently serves as an executive vice president.

MacAndrews & Forbes is a significant shareholder in vTv Therapeutics. According to a 13-D filing in May, MacAndrews & Forbes last held 61.5 million shares of vTv Therapeutics.

Taibi previously worked as a corporate attorney in the mergers and acquisitions group of Skadden, Arps, Slate, Meagher & Flom LLP.

“Ed will add significant value as a vTv board member and will be a tremendous asset in helping to drive our near-and long-term goals. As a member of the senior leadership team at MacAndrews, we look forward to leveraging his keen insights and future contributions,” vTv Therapeutics CEO Steve Holcombe said in the release.

Taibi will serve a term through the date of the next annual meeting of shareholders, according to the release.

vTv Therapeutics is a biopharmaceutical company focused on developing oral small molecule drug candidates.

Shares of vTv Therapeutics Inc (VTVT) were last trading up 4.87 percent near $2.04 on Wednesday.