SAN DIEGO, Jan. 03, 2017 (GLOBE
NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a
biopharmaceutical company advancing innovative medicines in urology
and rheumatology, today announced that Mary Naggs has been promoted
to Vice President, General Counsel, effective January 1,
2017. Ms. Naggs will report directly to Richard Pascoe, the
Company's Chief Executive Officer, and serve as a member of the
Company's executive team.
Ms. Naggs advances from the
position of Associate General Counsel. Since joining Apricus
in 2011, she has held various roles with increasing
responsibility. In her new role, Ms. Naggs will oversee all
legal matters, including contracts, corporate governance,
employment, financing transactions, compliance and intellectual
property.
"Mary's valuable counsel and
unmatched corporate knowledge and experience have made her an
institutional asset," says Mr. Pascoe. "She is involved in every
aspect of the business and she has proven her dedication to the
Company and our corporate objectives. We are pleased to have
Mary join the executive team and we are confident she will continue
to be a strong and important leader within our Company while we
focus on achieving profitability through Vitaros® revenue
growth and obtaining Vitaros FDA approval in the United States in
2018."
Ms. Naggs graduated summa cum
laude from Thomas Jefferson School of Law and she received her
bachelor's degree in biochemistry and cell biology from Revelle
College, University of California at San Diego.
Ms. Naggs stated, "I truly
appreciate the trust from Rich and the Company's board of directors
that comes with this promotion to Vice President, General
Counsel. I look forward to leading the legal function and
serving on the executive team as we focus on accomplishing our key
objectives in 2017 and beyond."
About
Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI)
is a biopharmaceutical company advancing innovative medicines in
urology and rheumatology. Apricus' commercial product,
Vitaros®, for the
treatment of erectile dysfunction, is approved in Canada and
certain countries in Europe, Latin America and the Middle East and
is being commercialized in certain countries in Europe and the
Middle East. In September 2015, Apricus in-licensed the U.S.
development and commercialization rights for Vitaros from Allergan.
Apricus' marketing partners for Vitaros include Recordati Ireland
Ltd. (Recordati), Ferring International Center S.A. (Ferring
Pharmaceuticals), Laboratoires Majorelle, Bracco S.p.A., Mylan NV
and Elis Pharmaceuticals Ltd. Apricus currently has one active
product candidate, RayVa(TM), its
product candidate for the treatment of the circulatory disorder
Raynaud's phenomenon.
For further information on
Apricus, visit http://www.apricusbio.com.
*Vitaros® is a
registered trademark of NexMed International Limited. Such
trademark is registered in certain countries throughout the world
and pending registration in the United States.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, as amended. Statements in this
press release that are not purely historical are forward-looking
statements. Such forward-looking statements include, among other
things: references to potential profitability, Vitaros®
revenue growth and potential Vitaros FDA approval in the United
States in 2018. Actual results could differ from those
projected in any forward-looking statements due to a variety of
reasons that are outside the control of the Company, including, but
not limited to: the Company's dependence on a number of
commercial partners for Vitaros-related revenue growth in
territories outside the United States; the Company's ability to
address the FDA's requirements for additional clinical and
pre-clinical data prior to the Vitaros NDA re-submission; the
Company's ability to raise additional funding that it may need to
continue to pursue its commercial and business development plans;
and the ability to retain key personnel. These forward-looking
statements are made as of the date of this press release, and the
Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Readers are urged to read the risk factors set forth in the
Company's most recent annual report on Form 10-K, subsequent
quarterly reports filed on Form 10-Q and other filings made with
the SEC. Copies of these reports are available from the SEC's
website or without charge from the Company.
Contact: Matthew Beck
mbeck@troutgroup.com
The Trout Group LLC
(646) 378-2933