Keryx Biopharmaceuticals Announces Transition of Leadership
January 11 2015 - 10:00PM
Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) (the "Company") today
announced it will be transitioning the role of Chief Executive
Officer from Ron Bentsur to its current Chief Operating Officer,
Greg Madison. Mr. Bentsur has led Keryx for the past 5 years,
culminating in U.S. Food and Drug Administration approval and
year-end 2014 launch of Auryxia™ (ferric citrate). Mr. Madison
joined Keryx in February 2014 as Chief Operating Officer to
transition the Company from a development-stage organization into a
fully integrated commercial entity, bringing to Keryx a wealth of
relevant expertise in both the phosphate binder and iron deficiency
anemia markets. Mr. Madison has been appointed President of Keryx
and will work with Mr. Bentsur to ensure a successful leadership
transition by the end of May, when Mr. Bentsur's contract expires.
"It has been a privilege to lead Keryx for the past 5 years
through the approval and year-end launch of Auryxia and I thank all
of our employees for their tremendous dedication and commitment to
position Keryx for future success," said Ron Bentsur, Chief
Executive Officer of Keryx. "With Keryx's focus having shifted from
development to a commercial enterprise, it is a logical point in
the evolution of the Company for a change in leadership and Greg
and I will work closely over the coming months to ensure a smooth
transition. I have the utmost confidence in Greg's ability to take
Keryx to the next level."
"I am truly excited about being asked to lead Keryx at this
important stage of our Company's evolution," said Mr. Madison.
"With an exceptional team in place, a truly differentiated product,
and a deep-rooted commitment to the renal community, I am confident
that we will build a leading renal franchise, delivering value to
all stakeholders – patients, physicians, providers, employees and
our shareholders."
"On behalf of the entire Keryx Board, I want to thank Ron for
his years of service to Keryx, his leadership of this organization,
his commitment and drive to the successful development and approval
of Auryxia, and his contributions to the Company's Board of
Directors," stated Michael Tarnok, Chairman of Keryx's Board of
Directors. "Greg has done an outstanding job building the
organization and readying us for Auryxia's launch in a very short
period of time. We are confident that the combination of his
leadership skills and experience, particularly at Genzyme where he
ran the renal division, makes Greg the ideal leader for Keryx as we
continue to build a world-class renal company."
Prior to joining Keryx, Mr. Madison served as the Executive Vice
President and Chief Commercial Officer of AMAG Pharmaceuticals
where he led the team to significant growth in net revenues. Prior
to AMAG, Mr. Madison spent 12 years at Genzyme/Sanofi developing
extensive commercial and general management expertise as he
progressed into roles of increasing responsibilities and
leadership, culminating in his most recent role as Vice President
and General Manager of the Renal division. In this role, Mr.
Madison led a global organization with three marketed products with
combined revenues exceeding $1 billion. Mr. Madison's prior
experience in the Renal division included serving as Vice President
and General Manager of the U.S. business; Vice President of U.S.
sales; and Vice President of U.S. marketing where he led all
pre-launch preparation for Renvela®.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals, headquartered in New York, is focused
on bringing innovative therapies to market for patients with renal
disease. The Company launched its first FDA-approved product,
Auryxia, in the United States in December 2014. In January 2014,
ferric citrate was approved for the treatment of patients with all
stages of CKD in Japan, where it is being marketed as Riona® by
Keryx's Japanese partner, Japan Tobacco Inc. and Torii
Pharmaceutical Co. Ltd. For more information about Keryx, please
visit www.keryx.com.
Cautionary Statement
Some of the statements included in this press release,
particularly those regarding the commercialization and subsequent
clinical development of Auryxia, may be forward-looking statements
that involve a number of risks and uncertainties. For those
statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Among the factors that could cause
our actual results to differ materially are the following: whether
Auryxia will be successfully launched and marketed in the U.S.;
whether Riona® will be successfully marketed by our Japanese
partner, Japan Tobacco, Inc. and Torii Pharmaceutical Co., Ltd; the
risk that the EMA may not concur with our interpretation of our
registration studies in ESRD and non-dialysis dependent chronic
kidney disease, supportive data, conduct of the studies, or any
other part of our MAA submission and could ultimately deny approval
of the MAA; the risk that we may not be successful in the
development of ferric citrate for the treatment of iron deficiency
anemia in non-dialysis chronic kidney disease patients; and other
risk factors identified from time to time in our reports filed with
the Securities and Exchange Commission. Any forward-looking
statements set forth in this press release speak only as of the
date of this press release. We do not undertake to update any of
these forward-looking statements to reflect events or circumstances
that occur after the date hereof. This press release and prior
releases are available at http://www.keryx.com. The information
found on our website is not incorporated by reference into this
press release and is included for reference purposes only.
CONTACT: Amy Sullivan, Vice President - Corporate Development
and Public Affairs
Keryx Biopharmaceuticals, Inc.
Tel: 617.466.3447 or 508-479-3480
E-mail: amy.sullivan@keryx.com
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