Keryx Announces Appointment of John P. Butler to its Board of Directors
December 10 2015 - 8:00AM
Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX), a biopharmaceutical
company focused on bringing innovative therapies to market for
people with renal disease, today announced that John P. Butler has
been appointed as a new independent director to its board of
directors pursuant to the company’s financing transaction with The
Baupost Group, L.L.C., effective immediately. Mr. Butler is an
industry veteran with significant experience in guiding corporate
strategy.
“I am pleased to welcome John to our Board, as he brings
extensive strategic knowledge derived from his successful career at
Genzyme as president of its renal business,” said Michael Tarnok,
chairman of Keryx’s board of directors. “John’s long track record
of success commercializing medicines for patients with kidney
disease and his global view will certainly prove valuable as we
advance the Auryxia™ franchise and build a leading renal
business.”
“I believe that there is a significant need for innovative
therapies that improve the lives of people with kidney disease,”
said Mr. Butler. “I believe Auryxia has that potential, and I am
excited to work with Keryx’s management team and board to realize
this vision and create value for our shareholders.”
Mr. Butler has more than 25 years of biotech and pharmaceutical
industry experience. He has served as the president and chief
executive officer of Akebia Therapeutics, Inc. since September
2013. From October 2011 to April 2013, Mr. Butler was the chief
executive officer of Inspiration Biopharmaceuticals where he led
the successful sale of the company’s assets for a total aggregate
consideration that could exceed $1 billion. Prior to Inspiration,
Mr. Butler held various positions at Genzyme Corporation, now
Sanofi, from 1997 to July 2011, including president of the
company’s rare genetic disease business. Notably, he also served as
president, general manager of Genzyme’s Renal Division, which grew
from $150 million to more than $1 billion in revenue under his
leadership. Prior to Genzyme, Mr. Butler held various positions of
increasing responsibility at Amgen Inc. John is an active member of
the renal community and has served on several non-profit boards,
including chairman of the board of trustees for the American Kidney
Fund. Mr. Butler received a B.A. in Chemistry from Manhattan
College and an M.B.A. from Baruch College.
Forward Looking 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 we can successfully obtain additional reimbursement
coverage for Auryxia; whether we can adjust our operating expenses
to projected levels while maintaining our current clinical and
commercial activities; whether we will able to identify and
negotiate acceptable terms with a commercialization partner in the
EU; whether we or a partner can successfully launch Fexeric in the
EU; whether Riona® will be successfully marketed in Japan by our
Japanese partner, Japan Tobacco, Inc. and Torii Pharmaceutical Co.,
Ltd; the risk that we may not be successful in the development of
Auryxia for the treatment of iron deficiency anemia in non-dialysis
dependent 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.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals, with offices in Boston and New York,
is focused on bringing innovative therapies to market for people
with renal disease. In December 2014, the company launched its
first FDA-approved product, Auryxia™ (ferric citrate) for the
control of elevated serum phosphorus levels, or hyperphosphatemia,
in patients with chronic kidney disease (CKD) on dialysis, in the
United States. 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. In September
2015, the European Commission granted European market authorization
for Fexeric® (ferric citrate coordination complex) for the control
of hyperphosphatemia in adults with non-dialysis and
dialysis-dependent chronic kidney disease. For more information
about Keryx, please visit www.keryx.com
KERYX BIOPHARMACEUTICALS CONTACTS:
Amy Sullivan
Vice President, Corporate Development and Public Affairs
T: 617.466.3519
amy.sullivan@keryx.com
Lora Pike
Senior Director, Investor Relations
T: 617.466.3511
lora.pike@keryx.com
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