– Paul Bisaro and Gail Naughton, Ph.D.,
Appointed as Independent Directors –
On behalf of the Board of Directors of TherapeuticsMD, Inc.
(NASDAQ: TXMD), an innovative, leading women’s healthcare company,
Chairman Tommy G. Thompson today announced the appointments of Paul
Bisaro and Gail Naughton, Ph.D., to the Company’s Board of
Directors. The appointments fill two of the vacancies created by
the resignations from the Board of Brian Bernick, M.D., John C.K.
Milligan, IV and Nicholas Segal. Dr. Bernick will continue to serve
as a Co-Founder of TherapeuticsMD on a full-time basis, supporting
the Company’s outreach with healthcare providers. Mr. Milligan will
continue to serve as the President of TherapeuticsMD on a full-time
basis, leading the Company’s infrastructure and critical
operations.
“We are very pleased to add Paul and Gail as the newest
independent directors to our Board. Each has a wealth of experience
as both directors and members of senior management at successful
organizations,” said former Governor and Secretary of Health and
Human Services, Thompson. “This is an exciting time in our
company’s growth and development, and we believe that Paul and
Gail’s respective skill sets will complement our recent
transformation to a commercial organization.”
“On behalf of the TherapeuticsMD Board of Directors, I would
like to thank Brian, John and Nick for their service to our
company,” said Thompson. “Brian’s passion for innovation and
persistence in solving patient needs are the reasons we have
world-class products. Brian will continue to serve as our
Co-Founder and play a key role in our outreach to healthcare
providers. John’s commitment and can-do attitude built the
infrastructure and critical operations that our Company has today.
John will continue to serve as our President and lead our
infrastructure and critical operations. Nick and his family were
among our early investors and without their vision and commitment
we would not be where we are today. We are excited to welcome Paul
and Gail to the TherapeuticsMD Board of Directors. Each of them
brings significant experience that we believe will activate our
next stage of growth.”
“I am very pleased and honored to be joining the TherapeuticsMD
Board of Directors,” said Mr. Bisaro. “I believe TherapeuticsMD’s
portfolio of differentiated products meets many of the significant
unmet needs facing women today. In addition, I believe the
Company’s vitaCare platform – which was created to remove the
hassle and lack of visibility that patients often face when dealing
with their insurance coverage, reimbursement and supply – is a
unique capability that supports TherapeuticsMD’s patients. I look
forward to working with the Board and management team to use these
assets to help our patients while continuing to focus on creating
long-term value for our shareholders.”
Mr. Bisaro is an accomplished global business leader with more
than 25 years of generic and branded pharmaceutical experience, and
a track record of driving company growth through operational
execution and corporate transformation. He has served as Executive
Chairman of Allergan, plc (formerly Actavis, plc), President, Chief
Executive Officer and a member of the Board of Directors of Actavis
(and its predecessor firm Watson Pharmaceuticals, Inc.), Executive
Chairman of Amneal Pharmaceuticals, Inc., and President, Chief
Executive Officer and a member of the Board of Directors of Impax
Laboratories, Inc. until its acquisition by Amneal. He also served
as President, Chief Operating Officer and a member of the Board of
Directors of Barr Pharmaceuticals, Inc.
“I am honored and delighted to be joining the Board of Directors
of TherapeuticsMD. The directors and executives have created
innovative products that are poised to greatly enhance women’s
health and I share in their vision in continuing to develop
solutions that will be transformative to healthcare worldwide,”
said Dr. Naughton.
Dr. Naughton is an accomplished life sciences executive and
researcher. Dr. Naughton founded two regenerative medicine
companies and is the holder of more than 105 U.S. and foreign
patents. She served as the Dean of the College of Business at San
Diego State University from 2002-2011. Her current venture,
Histogen, is focused on the development of novel solutions based on
the products of cells grown under simulated embryonic conditions.
She currently serves as Histogen’s Chief Scientific Officer and
Chief Business Development Officer and is the inventor of its core
technology. Dr. Naughton has brought several tissue engineered
products to market including a product for severe burns
(TransCyte), a dermal replacement for diabetic ulcers (Dermagraft),
an aesthetic dermal filler (Cosmederm/Cosmeplast) and SkinMedica’s
TNS product for skin care. Dr. Naughton has been extensively
published and is a frequent speaker in the field of tissue
engineering and regenerative medicine. In 2000, Dr. Naughton
received the 27th Annual National Inventor of the Year award by the
Intellectual Property Owners Association in honor of her pioneering
work in the field of tissue engineering.
“We are thankful to each of Brian, John and Nick for their years
of service on our Board and look forward to continuing to work with
Brian and John as key members of our leadership team,” concluded
TherapueticsMD Chief Executive Officer Robert G. Finizio. “As
TherapeuticsMD looks to the future, adding two seasoned experts in
Mr. Bisaro and Dr. Naughton to the Board while continuing to
utilize two proven performers in Dr. Bernick and Mr. Milligan, is
an ideal scenario.”
About TherapeuticsMD
TherapeuticsMD, Inc. is an innovative, leading healthcare
company, focused on developing and commercializing novel products
exclusively for women. Our products are designed to address the
unique changes and challenges women experience through the various
stages of their lives with a therapeutic focus in family planning,
reproductive health, and menopause management. The Company is
committed to advancing the health of women and championing
awareness of their healthcare issues. To learn more about
TherapeuticsMD, please visit www.therapeuticsmd.com or follow us on
Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.
Forward-Looking Statements
This press release by TherapeuticsMD, Inc. may contain
forward-looking statements. Forward-looking statements may include,
but are not limited to, statements relating to TherapeuticsMD’s
objectives, plans and strategies as well as statements, other than
historical facts, that address activities, events or developments
that the company intends, expects, projects, believes or
anticipates will or may occur in the future. These statements are
often characterized by terminology such as "believes," "hopes,"
"may," "anticipates," "should," "intends," "plans," "will,"
"expects," "estimates," "projects," "positioned," "strategy" and
similar expressions and 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,
including its most recent Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q, as well as reports on Form 8-K, and include
the following: the effects of the COVID-19 pandemic; the company’s
ability to maintain or increase sales of its products; the
company’s ability to develop and commercialize IMVEXXY®, ANNOVERA®,
BIJUVA® and its hormone therapy drug candidates and obtain
additional financing necessary therefor; whether the company will
be able to comply with the covenants and conditions under its term
loan facility, including the conditions to draw an additional
tranche thereunder and whether the lender will make such tranche
available; the potential of adverse side effects or other safety
risks that could adversely affect the commercialization of the
company’s current or future approved products or preclude the
approval of the company’s future drug candidates; whether the FDA
will approve the efficacy supplement for the lower dose of BIJUVA;
the company’s ability to protect its intellectual property,
including with respect to the Paragraph IV notice letters the
company received regarding IMVEXXY and BIJUVA; the length, cost and
uncertain results of future clinical trials; the company’s reliance
on third parties to conduct its manufacturing, research and
development and clinical trials; the ability of the company’s
licensees to commercialize and distribute the company’s products;
the ability of the company’s marketing contractors to market
ANNOVERA; the availability of reimbursement from government
authorities and health insurance companies for the company’s
products; the impact of product liability lawsuits; the influence
of extensive and costly government regulation; the volatility of
the trading price of the company’s common stock and the
concentration of power in its stock ownership. PDF copies of the
company’s historical press releases and financial tables can be
viewed and downloaded at it website:
www.therapeuticsmd.com/pressreleases.aspx.
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version on businesswire.com: https://www.businesswire.com/news/home/20200324005366/en/
Investor Contact Nichol
Ochsner Vice President, Investor Relations 561-961-1900, ext. 2088
Nochsner@TherapeuticsMD.com
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