SAN DIEGO, Jan. 24, 2015 /PRNewswire/ -- Mast Therapeutics,
Inc. (NYSE MKT: MSTX), a clinical-stage biopharmaceutical company,
today announced a management change in connection with a
restructuring of management to best support the Company in its
current stage of development. The Company's President and
Chief Operating Officer, Patrick L.
Keran, will step down from that role and be leaving the
Company effective February 28, 2015.
"We would like to thank Pat for his tireless work and dedication
over the years," stated Jack Lief, Chair of the Board of Directors.
"He has been an instrumental member of the team and contributed
significantly to the Company's operations."
"Pat's contributions have been vital as we moved through some
fundamental changes in recent years, which included multiple
strategic acquisitions, and advanced our development programs to
where they are today. The experience he's gained will no doubt
serve him well in the next stage of his career and I'm sure he'll
be successful in his future endeavors," stated Brian M. Culley, Chief Executive Officer.
About Mast Therapeutics
Mast
Therapeutics, Inc. is a publicly traded biopharmaceutical company
headquartered in San Diego,
California. The Company is leveraging the MAST (Molecular
Adhesion and Sealant Technology) platform, derived from over two
decades of clinical, nonclinical and manufacturing experience with
purified and non-purified poloxamers, to develop vepoloxamer
(MST-188), its lead product candidate, for serious or
life-threatening diseases and conditions typically characterized by
impaired microvascular blood flow and damaged cell
membranes.
The Company is enrolling subjects in EPIC, a pivotal Phase 3
study of vepoloxamer in sickle cell disease, and in a Phase 2 study
to evaluate whether vepoloxamer improves the effectiveness of
recombinant tissue plasminogen activator therapy in patients with
acute limb ischemia. The Company also is planning to initiate
a Phase 2 study of vepoloxamer in patients with acute decompensated
heart failure in the first half of 2015. More information can be
found on the Company's web site at www.masttherapeutics.com.
(Twitter: @MastThera)
Mast Therapeutics™ and the corporate logo are trademarks of Mast
Therapeutics, Inc.
Forward Looking Statements
Mast
Therapeutics cautions you that statements included in this press
release that are not a description of historical facts are
forward-looking statements that are based on the Company's current
expectations and assumptions. Such forward-looking statements
include, but are not limited to, statements relating to anticipated
milestones for the Company's development programs. Among the
factors that could cause or contribute to material differences
between the Company's actual results and the expectations indicated
by the forward-looking statements are risks and uncertainties that
include, but are not limited to: delays in the commencement or
completion of clinical studies, including as a result of
difficulties in obtaining regulatory agency agreement on clinical
development plans or clinical study design, opening trial sites,
enrolling study subjects, manufacturing sufficient quantities of
clinical trial material, being subject to a "clinical hold," and/or
suspension or termination of a clinical study, including due to
patient safety concerns or lack of funding; the uncertainty of
outcomes in ongoing and future studies of the Company's product
candidates and the risk that its product candidates, including
vepoloxamer, may not demonstrate adequate safety, efficacy or
tolerability in one or more such studies; the potential for
institutional review boards or the FDA or other regulatory agencies
to require additional nonclinical or clinical studies prior to
initiation of a planned clinical study of a product candidate; the
risk that, even if clinical studies are successful, the FDA or
other regulatory agencies may determine they are not sufficient to
support a new drug application; the potential that, even if
clinical studies of a product candidate in one indication are
successful, clinical studies in another indication may not be
successful; the Company's reliance on contract research
organizations (CROs), contract manufacturing organizations (CMOs),
and other third parties to assist in the conduct of important
aspects of development of its product candidates, including
clinical studies, manufacturing, and regulatory activities for its
product candidates, and that such third parties may fail to perform
as expected; the Company's ability to obtain additional funding as
needed on a timely basis or on acceptable terms, or at all; the
potential for the Company to delay, reduce or discontinue current
and/or planned development activities, including clinical studies,
partner its product candidates at inopportune times or pursue less
expensive but higher-risk and/or lower return development paths if
it is unable to raise sufficient additional capital as needed; the
risk that, even if the Company successfully develops a product
candidate in one or more indications, it may not realize commercial
success with its products and may never generate revenue sufficient
to achieve profitability; the risk that the Company is not able to
adequately protect its intellectual property rights relating to the
MAST platform and vepoloxamer or AIR001 and prevent competitors
from duplicating or developing equivalent versions of its product
candidates; and other risks and uncertainties more fully described
in the Company's press releases and periodic filings with the
Securities and Exchange Commission. The Company's public filings
with the Securities and Exchange Commission are available at
www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. Mast
Therapeutics does not intend to revise or update any
forward-looking statement set forth in this press release to
reflect events or circumstances arising after the date hereof,
except as may be required by law.
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SOURCE Mast Therapeutics