Flex Pharma Announces Executive Leadership Transition
June 05 2017 - 4:10PM
Business Wire
-- Christoph Westphal to Step Down as CEO and
Will Continue as Chair of the Board --
-- Board Appoints Flex Executive William
McVicar as Interim CEO --
Click to Tweet this News
Flex Pharma, Inc. (NASDAQ: FLKS), a clinical-stage biotechnology
company that is developing innovative and proprietary treatments
for cramps and spasticity associated with severe neurological
diseases including amyotrophic lateral sclerosis (ALS), multiple
sclerosis (MS) and Charcot-Marie-Tooth (CMT), today announced that
Christoph Westphal, M.D., Ph.D., will transition from his role as
Chief Executive Officer, effective July 3, 2017, and remain as
Chair of the Board. Flex Pharma’s Board of Directors has appointed
William McVicar, Ph.D., currently serving as the Company’s
President of Research and Development, as interim CEO.
“I am proud of the progress Flex Pharma has made to date, with
the advancements made in the clinical development of FLX-787 for
ALS, MS and CMT,” said Dr. Westphal. “Now that Flex is about to
initiate two Phase 2 studies in the U.S., this is the right time
for me to hand the reins to Bill given his extensive clinical
development experience and successful track record of multiple drug
approvals. As the largest shareholder of Flex, I am confident that
Bill and the Flex management team will continue to advance and
deliver this important medicine to patients. I look forward to
working with the team as Chair, and to returning to my full-time
venture capital role as Partner at Longwood Fund.”
“I am honored to be stepping into the leadership role and
personally want to thank Christoph for his immense contributions to
the company,” said Dr. McVicar. “Flex is in an excellent position
to continue to deliver on our strategy. I look forward to working
with Christoph, the Board, and the entire Flex team to accelerate
the clinical development of FLX-787, with the objective of
addressing the significant unmet medical needs of patients living
with ALS, MS and CMT.”
“On behalf of the Board and the Company, I want to thank
Christoph for his vision and entrepreneurial leadership since the
company’s inception,” said Dr. Rod MacKinnon, Nobel laureate and
Flex Pharma Scientific Co-Founder, Board Member, and Scientific
Advisory Board Co-Chair. “As co-founder, lead investor and CEO of
multiple biotech companies, Christoph has successfully fostered new
and important scientific insights and discoveries at Alnylam,
Momenta, Acceleron, Sirtris, Verastem and now Flex Pharma. Given
Flex’s Phase 2 programs, the time is right to transition leadership
to an executive with proven development and regulatory expertise
and a record of success.”
Dr. McVicar joined Flex Pharma in April 2017 as President of
Research & Development. He brings over 30 years of clinical
development experience, most recently serving as Chief Scientific
Officer at Inotek. During his tenure at Inotek, he also served as
Executive Vice President of Pharmaceutical Development, Chief
Scientific Officer, and President. Prior to Inotek, he served as
Vice President of Development Operations at Sepracor, where he
oversaw the development, FDA review, and approval of multiple NDAs
and SNDAs, including BROVANA®, XOPENEX MDI®, and XOPENEX’s
pediatric approval, which were each approved in a single 10-month
review cycle. Dr. McVicar and Flex Chief Medical Officer Thomas
Wessel, M.D., Ph.D. worked together at Sepracor through the U.S.
approval of LUNESTA®. Prior to Sepracor, Dr. McVicar held various
positions of increasing responsibility at Sandoz, Novartis and
Rhone Poulenc Rorer.
About Flex Pharma
Flex Pharma, Inc. is a clinical-stage biotechnology company that
is developing innovative and proprietary treatments for cramps and
spasticity associated with the severe neurological diseases
including ALS, MS and Charcot-Marie-Tooth (CMT). Flex Pharma was
founded by National Academy of Science members Rod MacKinnon, M.D.
(2003 Nobel Laureate), and Bruce Bean, Ph.D., recognized leaders in
the fields of ion channels and neurobiology, along with Chair and
CEO Christoph Westphal, M.D., Ph.D.
Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements regarding our intentions, beliefs, projections, outlook,
analyses or current expectations concerning, among other things,
our anticipated clinical trials. These forward-looking statements
are based on management's expectations and assumptions as of the
date of this press release and are subject to numerous risks and
uncertainties, which could cause actual results to differ
materially from those expressed or implied by such statements.
These risks and uncertainties include, without limitation: the
status, timing, costs, results and interpretation of our clinical
studies; the uncertainties inherent in conducting clinical studies;
our ability to enroll patients in each of clinical studies on a
timely basis; expectations of our ability to make regulatory
filings and obtain and maintain regulatory approvals; availability
of funding sufficient for our foreseeable and unforeseeable
operating expenses and capital expenditure requirements; the
inherent uncertainties associated with intellectual property; and
other factors discussed in greater detail under the heading "Risk
Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2016 and subsequent filings with the Securities and
Exchange Commission (SEC). You are encouraged to read our filings
with the SEC, available at www.sec.gov, for a discussion of these
and other risks and uncertainties. Any forward-looking statements
that we make in this press release speak only as of the date of
this press release. We assume no obligation to update our
forward-looking statements whether as a result of new information,
future events or otherwise, after the date of this press
release.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170605006175/en/
Flex Pharma, Inc.Elizabeth Woo, 617-874-1829SVP, Investor
Relations & Corporate Communicationsirdept@flex-pharma.com
FLEX PHARMA, INC. (NASDAQ:FLKS)
Historical Stock Chart
From Mar 2024 to Apr 2024
FLEX PHARMA, INC. (NASDAQ:FLKS)
Historical Stock Chart
From Apr 2023 to Apr 2024