Otonomy Appoints Kathie M. Bishop, Ph.D., as Chief Scientific Officer
November 30 2016 - 7:30AM
Otonomy, Inc. (NASDAQ:OTIC), a biopharmaceutical company
focused on the development and commercialization of innovative
therapeutics for diseases and disorders of the ear, today announced
the appointment of Kathie M. Bishop, Ph.D., as chief scientific
officer. Dr. Bishop is a neuroscientist with more than fifteen
years of pharmaceutical development experience. At Ionis
Pharmaceuticals, she led translational research and development of
programs in the neurology franchise including SPINRAZAä
(nusinersen), a treatment for patients with spinal muscular atrophy
that is awaiting regulatory approval.
"Kathie is a great fit to lead our development efforts given her
neuroscience background and successful track record managing
significant development programs from inception through to
registration," said David A. Weber, Ph.D., president and CEO of
Otonomy. "Furthermore, her extensive experience with local drug
delivery in the nusinersen as well as other programs is highly
relevant to our focus in developing locally administered
therapeutics for otic disorders."
Dr. Bishop succeeds Carl LeBel, Ph.D., who had previously
announced his retirement. She joins Otonomy from Tioga
Pharmaceuticals where she served as chief scientific officer since
2015. Previously, she served in product development management
roles at Ionis Pharmaceuticals including vice president, clinical
development. At Ionis, she led translational research and
development of a portfolio of programs in the neurology franchise
which included clinical-stage products for the treatment of spinal
muscular atrophy, myotonic dystrophy, and amytrophic lateral
sclerosis and preclinical programs targeting various disorders
including retinal degeneration. Prior to Ionis, she served in
research and development leadership roles at Ceregene, a company
focused on the development of gene therapy products for the
treatment of neurodegenerative disorders and retinal diseases.
Before joining Ceregene, she worked as a post-doctoral fellow in
the Molecular Neurobiology Lab at the Salk Institute in La Jolla.
Dr. Bishop obtained her Ph.D. in Neuroscience from the University
of Alberta, a B.A. in Psychology from Simon Fraser University and a
B.Sc. in Cell Biology and Genetics from the University of British
Columbia.
About Otonomy
Otonomy is a biopharmaceutical company focused on the
development and commercialization of innovative therapeutics for
diseases and disorders of the ear. OTIPRIO® (ciprofloxacin otic
suspension) is approved in the United States for use during
tympanostomy tube placement surgery in pediatric patients, and
commercial launch commenced in March 2016. OTO-104 is a steroid in
development for the treatment of Ménière's disease and other severe
balance and hearing disorders. Two Phase 3 trials in Ménière's
disease patients are underway, with results expected during the
second half of 2017. OTO-311 is an NMDA receptor antagonist for the
treatment of tinnitus that is in a Phase 1 clinical safety trial.
Otonomy’s proprietary formulation technology utilizes a
thermosensitive gel and drug microparticles to enable single dose
treatment by a physician. For additional information please visit
www.otonomy.com.
Cautionary Note Regarding Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements generally relate to future events
or future financial or operating performance of Otonomy.
Forward-looking statements in this press release include, but are
not limited to, the timing of results for the two OTO-104 Phase 3
clinical trials in Ménière's disease. Otonomy's expectations
regarding these matters may not materialize, and actual results in
future periods are subject to risks and uncertainties. Actual
results may differ materially from those indicated by these
forward-looking statements as a result of these risks and
uncertainties, including but not limited to: Otonomy's limited
operating history and its expectation that it will incur
significant losses for the foreseeable future; Otonomy's ability to
obtain additional financing; Otonomy's dependence on the commercial
success of OTIPRIO and the regulatory success and advancement of
additional product candidates, such as OTO-104 and OTO-311, and
label expansion indications for OTIPRIO; the uncertainties inherent
in the clinical drug development process, including, without
limitation, Otonomy's ability to adequately demonstrate the safety
and efficacy of its product candidates, the preclinical and
clinical results for its product candidates, which may not support
further development, and challenges related to patient enrollment
in clinical trials; Otonomy's ability to obtain regulatory approval
for its product candidates; side effects or adverse events
associated with Otonomy's product candidates; competition in the
biopharmaceutical industry; Otonomy's dependence on third parties
to conduct preclinical studies and clinical trials; the timing and
outcome of hospital pharmacy and therapeutics reviews and other
facility reviews; the impact of coverage and reimbursement
decisions by third-party payors on the pricing and market
acceptance of OTIPRIO; Otonomy's dependence on third parties for
the manufacture of OTIPRIO and product candidates; Otonomy's
dependence on a small number of suppliers for raw materials;
Otonomy's ability to protect its intellectual property related to
OTIPRIO and its product candidates in the United States and
throughout the world; expectations regarding potential market size,
opportunity and growth; Otonomy's ability to manage operating
expenses; implementation of Otonomy's business model and strategic
plans for its business, products and technology; and other risks.
Information regarding the foregoing and additional risks may be
found in the section entitled "Risk Factors" in Otonomy's Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission (the "SEC") on November 3, 2016, and Otonomy's future
reports to be filed with the SEC. The forward-looking statements in
this press release are based on information available to Otonomy as
of the date hereof. Otonomy disclaims any obligation to update any
forward-looking statements, except as required by law.
Contacts:
Media Inquiries
Canale Communications
Heidi Chokeir, Ph.D.
Senior Vice President
619.849.5377
heidi@canalecomm.com
Investor Inquiries
Westwicke Partners
Robert H. Uhl
Managing Director
858.356.5932
robert.uhl@westwicke.com
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