RedHill Biopharma Announces Appointment of Rick D. Scruggs to Board of Directors
December 15 2015 - 8:00AM
RedHill Biopharma Ltd. (Nasdaq:RDHL) (TASE:RDHL) (“RedHill” or
the “Company”), an Israeli biopharmaceutical company primarily
focused on the development and commercialization of late
clinical-stage, proprietary, orally-administered, small molecule
drugs for inflammatory and gastrointestinal diseases, including
cancer, today announced the appointment of Mr. Rick D. Scruggs to
its Board of Directors, effective January 1, 2016.
With over 25 years of experience in the
pharmaceutical industry, Mr. Scruggs brings extensive knowledge in
commercial operations and business development. He most recently
served as Executive Vice President of Business Development at Salix
Pharmaceuticals, Ltd. (“Salix”), up to its acquisition by Valeant
Pharmaceuticals International earlier this year. Mr. Scruggs joined
Salix in 2000, after working at Oclassen Pharmaceuticals Inc. and
Watson Pharmaceuticals, and helped build Salix’s commercial
organization, serving in various sales and commercial trade related
positions. He was appointed as Executive Vice President in 2011 and
was responsible for all business development activities as well as
the worldwide distribution of Salix innovative products and
intellectual property. Mr. Scruggs also served as the Head of the
Board of Directors of Oceana Therapeutics, Salix’s European
subsidiary.
Dror Ben-Asher, RedHill’s Chief
Executive Officer and Chairman of the Board of Directors:
“We are delighted to welcome Rick to RedHill’s Board of Directors.
The appointment is particularly timely, as Rick brings a strong
track record and tremendous experience in M&A and successfully
commercializing products in the fields of gastrointestinal and
inflammatory diseases in the U.S. I am confident that RedHill’s
Board of Directors will benefit from his proven executive
expertise, most recently at Salix, as well as his strategic
perspective. Rick’s insight will be invaluable to RedHill as we
continue to pursue our strategy of establishing commercial
capabilities in the U.S., with a focus on gastrointestinal and
inflammatory diseases, and to maximize the potential of our late
clinical-stage pipeline in these fields.”
Rick D. Scruggs added: “I am
delighted to be offered the opportunity to become part of the
RedHill Board of Directors and I look forward to making
contributions to the continued success of the Company.”
About RedHill Biopharma
Ltd.:
RedHill Biopharma Ltd. (Nasdaq:RDHL)
(TASE:RDHL) is an emerging Israeli biopharmaceutical company
primarily focused on the development and commercialization of late
clinical-stage, proprietary, orally-administered, small molecule
drugs for the treatment of inflammatory and gastrointestinal
diseases, including cancer. RedHill’s current pipeline of
proprietary products includes: (i) RHB-105
- an oral combination therapy for the treatment of
Helicobacter pylori infection with successful top-line results from
a first Phase III study; (ii) RHB-104
- an oral combination therapy for the treatment of
Crohn's disease with an ongoing first Phase III study; (iii)
BEKINDA™ (RHB-102)
- a once-daily oral pill formulation of
ondansetron with an ongoing Phase III study in the U.S. for acute
gastroenteritis and gastritis; (iv) RHB-106
- an encapsulated bowel preparation licensed to
Salix Pharmaceuticals, Ltd.; (v) YELIVA™
(ABC294640) - an orally-administered
first-in-class SK2 selective inhibitor targeting multiple oncology,
inflammatory and gastrointestinal indications with a Phase I/II
study initiated for refractory/relapsed diffuse large B-cell
lymphoma (DLBCL); (vi) MESUPRON® - a Phase
II-stage first-in-class uPA inhibitor, administered by oral
capsule, targeting gastrointestinal and other solid tumors; (vii)
RP101 - currently subject to an
option-to-acquire by RedHill, RP101 is a Phase II-stage
first-in-class Hsp27 inhibitor, administered by oral tablet,
targeting pancreatic and other gastrointestinal cancers; (viii)
RIZAPORT™ (RHB-103) - an oral
thin film formulation of rizatriptan for acute migraines, with a
U.S. NDA currently under discussion with the FDA and marketing
authorization received in Germany in October 2015; and (ix)
RHB-101 - a once-daily oral pill
formulation of the cardio drug carvedilol.
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are based
on certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company’s
control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks and uncertainties
associated with (i) the initiation, timing, progress and results of
the Company’s research, manufacturing, preclinical studies,
clinical trials, and other therapeutic candidate development
efforts; (ii) the Company’s ability to advance its therapeutic
candidates into clinical trials or to successfully complete its
preclinical studies or clinical trials; (iii) the extent and number
of additional studies that the Company may be required to conduct
and the Company’s receipt of regulatory approvals for its
therapeutic candidates, and the timing of other regulatory filings,
approvals and feedback; (iv) the manufacturing, clinical
development, commercialization, and market acceptance of the
Company’s therapeutic candidates; (v) the Company’s ability to
establish and maintain corporate collaborations; (vi) the
interpretation of the properties and characteristics of the
Company’s therapeutic candidates and of the results obtained with
its therapeutic candidates in research, preclinical studies or
clinical trials; (vii) the implementation of the Company’s business
model, strategic plans for its business and therapeutic candidates;
(viii) the scope of protection the Company is able to establish and
maintain for intellectual property rights covering its therapeutic
candidates and its ability to operate its business without
infringing the intellectual property rights of others; (ix) parties
from whom the Company licenses its intellectual property defaulting
in their obligations to the Company; (x) estimates of the Company’s
expenses, future revenues capital requirements and the Company’s
needs for additional financing; (xi) competitive companies and
technologies within the Company’s industry; and (xii) the impact of
the political and security situation in Israel on the Company's
business. More detailed information about the Company and the risk
factors that may affect the realization of forward-looking
statements is set forth in the Company's filings with the
Securities and Exchange Commission (SEC), including the Company's
Annual Report on Form 20-F filed with the SEC on February 26, 2015.
All forward-looking statements included in this Press Release are
made only as of the date of this Press Release. We assume no
obligation to update any written or oral forward-looking statement
unless required by law.
Company contact:
Adi Frish
Senior VP Business Development &
Licensing
RedHill Biopharma
+972-54-6543-112
adi@redhillbio.com
IR contact (U.S.):
Marcy Nanus
Senior Vice President
The Trout Group
+1-646-378-2927
Mnanus@troutgroup.com
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