JERUSALEM, July 10, 2017 /PRNewswire/ --
Intec Pharma Ltd. (Nasdaq: NTEC, TASE: NTEC), a clinical stage
biopharmaceutical company focused on developing drugs based on its
proprietary Accordion Pill™ platform technology, announces the
appointment of Jeffrey A. Meckler as
Chief Executive Officer, effective immediately. Mr. Meckler was
named Vice Chairman of the Intec Pharma Board of Directors in
April 2017 and will continue in that
role. Giora Carni, a Director since
2006 who has served as Interim Chief Executive Officer since
May 2017, will continue to serve on
the company's Board.
"In the few months Jeffrey has been on the Intec Board he
established himself as a strong, insightful leader and made
significant contributions to our company. We are delighted to
appoint him as Chief Executive Officer and extend thanks to Giora
for stepping in to serve as interim CEO," commented John W. Kozarich, Ph.D., Chairman of the Board
of Intech Pharma.
"We look forward to building a U.S. presence under Jeffrey's
stewardship while advancing our Accordion Pill platform technology
in a number of therapeutic indications. In particular, as we
near the completion of a pivotal Phase 3 clinical trial of our
Accordion Pill Carbidopa/Levodopa, Jeffrey's considerable industry
experience should enhance our pre-commercialization strategies to
maximize the potential of the Accordion Pill in Parkinson's
disease," he added. "Importantly, Jeffrey's strategic
planning and business development skills make him uniquely
qualified to expand our platform technology in various indications
and to enhance the industry's recognition of our gastric retention
drug delivery technology."
Mr. Meckler has more than 25 years of life sciences executive
experience. He spent more than 17 years at Pfizer, where he held
leadership positions in corporate strategic planning, acquisitions
and business development, market research, manufacturing systems
and sales operations analysis. Most recently he was Chief Executive
Officer of Cocrystal Pharma, Inc. Previously, Mr. Meckler was a
director of QLT Inc., and initially the principal executive officer
during its transformation into an orphan drug company. He has
served on numerous corporate boards and is currently a director of
Retrophin, Inc.
"I am honored to be named CEO of Intec Pharma at this pivotal
point in our company's development," said Mr. Meckler. "We
face significant opportunities with our late-stage program in
Parkinson's disease. In addition we have a versatile platform
technology that can improve the efficacy and safety of existing and
development-stage drugs by utilizing a proprietary gastric
retention mechanism. I look forward to working with our team in
Israel and to establishing a
footprint in the U.S. Together we will execute a broad development
program for the Accordion Pill technology that will allow us to
build value for our shareholders and ensure the success of our
company."
Mr. Meckler earned his J.D. from Fordham
University School of Law and is admitted to the New York
Bar. He earned an M.S. in Industrial Administration and a
B.S. in Industrial Management from Carnegie
Mellon University's Tepper
School of Business.
About Intec Pharma Ltd.
Intec Pharma Ltd. is a clinical-stage biopharmaceutical company
focused on developing drugs based on its proprietary Accordion Pill
platform technology. The Company's Accordion Pill is an oral drug
delivery system that is designed to improve the efficacy and safety
of existing drugs and drugs in development by utilizing an
efficient gastric retention and specific release mechanism. The
Company's product pipeline includes four product candidates in
clinical trial stages: Accordion Pill Carbidopa/Levodopa, or
AP-CD/LD, which is being developed for the treatment of Parkinson's
disease symptoms in advanced Parkinson's disease patients;
Accordion Pill Zaleplon, or AP-ZP, which is being developed for the
treatment of insomnia, including sleep induction and the
improvement of sleep maintenance; an Accordion Pill that is being
developed for the prevention and treatment of gastroduodenal and
small bowel Nonsteroidal Anti-Inflammatory Drug (SAID)-induced
ulcers; and AP-CBD/THC, an Accordion Pill with the two primary
cannabinoids contained in Cannabis sativa, cannabidiol (CBD)
and tetrahydrocannabinol (THC), which is being developed for
various indications including low back neuropathic pain and
fibromyalgia.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements about the
Company's expectations, beliefs and intentions. Forward-looking
statements can be identified by the use of forward-looking words
such as "believe", "expect", "intend", "plan", "may", "should",
"could", "might", "seek", "target", "will", "project", "forecast",
"continue" or "anticipate" or their negatives or variations of
these words or other comparable words or by the fact that these
statements do not relate strictly to historical matters. These
forward-looking statements are based on assumptions and assessments
made in light of management's experience and perception of
historical trends, current conditions, expected future developments
and other factors believed to be appropriate. Forward-looking
statements in this press release are made as of the date of this
press release, and the company undertakes no duty to update or
revise any such statements, whether as a result of new information,
future events or otherwise. Forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties, many of which are outside of the company's control.
Important factors that could cause actual results, developments and
business decisions to differ materially from forward-looking
statements are described in the sections titled "Risk Factors" in
the company's filings with the Securities and Exchange Commission,
and include the following: the company's ability to develop and
commercialize its product candidates and obtain additional
financing necessary therefor; the length, cost and uncertain
results of the company's clinical trials; including uncertainty
regarding the Company's ability to enroll the required number of
patients therein; the potential of adverse side effects, other
safety risks, or legal prohibitions on the use of certain products
in certain jurisdictions that could preclude the approval of the
company's drug candidates; the availability of reimbursement from
government authorities and health insurance companies for the
company's products; the impact of product liability lawsuits; and
the influence of extensive and costly government regulation.
Contacts:
Jeffrey A. Meckler
Chief Executive Officer
Intec Pharma
+1-646-374-8050
jeffrey@intecpharma.com
Anne Marie Fields
Senior Vice President
LHA Investor Relations
+1-212-838-3777
afields@lhai.com
SOURCE Intec Pharma Ltd