Solas BioVentures Co-Founder David Adair, M.D. Joins Mayfield Pharmaceuticals Board of Directors
October 23 2019 - 7:30AM
Mayfield Pharmaceuticals, the women’s health-focused subsidiary of
Harrow Health, Inc. (NASDAQ: HROW), today announced David Adair,
M.D. will join the Mayfield Pharmaceuticals Board of Directors. Dr.
Adair is a Co-Founder and Managing Director of Solas BioVentures, a
venture capital fund that invests exclusively in the Life Sciences
industry. Dr. Adair has extensive experience serving as a director
on the boards of several pharmaceutical and medical device
companies, including companies specializing in women’s health, in
addition to 21 years as an OB/GYN Department Professor and Vice
Chairman at the University of Tennessee College of Medicine in
Chattanooga. Solas BioVentures intends to participate in the
Mayfield Pharmaceuticals Series A financing.
Dr. Adair commented, “Mayfield is developing
drug candidates that physicians and patients need. I am
particularly impressed with the pre-clinical data I have seen for
the Mayfield drug candidates, which was completed in models that
have historically strongly translated to human models. In addition
to her leadership and dedication, Melissa has a 20+ year history of
developing and commercializing clinically meaningful assets in the
women’s health space and Mayfield is no different. I’m excited to
see her take the reins as the senior executive on this opportunity
and for our fund to participate.”
Melissa Bradford-Klug, CEO of Mayfield
Pharmaceuticals, commented, “I am gratified to have the support of
and a vote of confidence from someone like Dr. Adair, who has such
a strong women’s health background, for our strategy, valuation,
and the drug candidates we will be pursuing. Having seen first-hand
the unmet needs in the women’s health sector through his decades of
experience in the medical, clinical, investing, and corporate
worlds, I believe David will be a wonderful partner as we shepherd
these drug candidates through the FDA approval process.”
Mayfield is focused on making a difference in
women’s lives by being a voice for women and, in turn, developing
branded pharmaceutical products that address their significant
unmet healthcare needs.
Mayfield’s drug candidate pipeline includes:
- MAY-66, which is a potential first-in-class new chemical entity
drug candidate intended to prevent recurrent bacterial vaginosis
(BV). MAY-66 has produced extraordinarily promising data in what we
believe is a translatable pre-clinical model. Approximately 21
million women in the U.S. are estimated to suffer from BV and high
reoccurrence rates of BV are an ongoing need. Complications of BV,
if left untreated, include increased risk of acquiring and
transmitting HIV, increased risk of preterm birth and reduction in
fertility during IVF therapy. The addressable market for MAY-66 is
estimated at $1 billion annually in the U.S.
- MAY-44, which is being developed for the temporary relief of
dyspareunia in breast cancer survivors and pre-menopausal and
post-menopausal women. MAY-44 is protected by three issued patents
and could become the first FDA-approved topical non-estrogen-based
product to address a market of as many as 34 million American women
for whom dyspareunia is common. The dyspareunia indication Mayfield
will seek approval for is an estimated $2.1 billion annual U.S.
market opportunity.
- MAY-88, which is a patent-pending oral suspension that Mayfield
will develop for the treatment of moderate to severe interstitial
cystitis (IC). Mayfield believes the IC drug market, currently
estimated at $400 million annually, is highly underserved and in
need of new treatment options for an estimated 8 million U.S.
patients who chronically suffer from IC. Mayfield’s MAY-88 is
initially pursuing an orphan population within the IC market.
About Mayfield
Pharmaceuticals
Mayfield Pharmaceuticals, Inc. is a
pharmaceutical company focused on the development of branded
solutions that address the unmet needs of women. Mayfield intends
to seek regulatory approval for its drug candidates through the
U.S. Food and Drug Administration’s 505(b)(1) and 505(b)(2)
regulatory pathways. Mayfield’s current drug candidates will pursue
indications for recurrent bacterial vaginosis, dyspareunia, and
interstitial cystitis, which are collectively estimated to present
an addressable market opportunity that exceeds $3 billion annually
in the U.S.
About Harrow Health
Harrow Health, Inc. (NASDAQ: HROW) owns a
portfolio of healthcare businesses, including ImprimisRx, the
nation’s leading ophthalmology outsourcing facility and
pharmaceutical compounding business. The company holds large equity
positions in Eton Pharmaceuticals, Surface Pharmaceuticals, Melt
Pharmaceuticals, Mayfield Pharmaceuticals, Stowe Pharmaceuticals
and Radley Pharmaceuticals, all companies founded as subsidiaries
of Harrow Health. The Company also owns royalty rights in certain
drug candidates being developed by Surface, Melt, Mayfield and
Radley. Harrow intends to create, invest in and grow paradigm
shifting healthcare businesses that put patients first. For more
information about Harrow Health, please visit the Investor
Relations section of the corporate website by clicking here.
About Solas BioVentures
Solas BioVentures is a venture fund that
maintains a founder-centric approach to enable breakthroughs in
medical and technological innovation. Solas invests exclusively in
the Life Science industry, focusing on early and development stage
biopharmaceuticals, medical devices, diagnostics, and related
opportunities designed to positively transform the standard of care
and patient outcomes. Solas BioVentures is headquartered in
Chattanooga, Tennessee. For more information, please visit their
website: https://www.solasbio.com/.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Any statements in this release that
are not historical facts may be considered such "forward-looking
statements." Forward-looking statements are based on management's
current expectations and are subject to risks and uncertainties
which may cause results to differ materially and adversely from the
statements contained herein. Some of the potential risks and
uncertainties that could cause actual results to differ from those
predicted include our ability to make commercially available our
compounded formulations and technologies in a timely manner or at
all; physician interest in prescribing our formulations; risks
related to our compounding pharmacy operations; our ability to
enter into other strategic alliances, including arrangements with
pharmacies, physicians and healthcare organizations for the
development and distribution of our formulations; our ability to
obtain intellectual property protection for our assets; our ability
to accurately estimate our expenses and cash burn, and raise
additional funds when necessary; risks related to research and
development activities; the projected size of the potential market
for our technologies and formulations; unexpected new data, safety
and technical issues; regulatory and market developments impacting
compounding pharmacies, outsourcing facilities and the
pharmaceutical industry; competition; and market conditions. These
and additional risks and uncertainties are more fully described in
Harrow Health’s filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Such documents may be read free of
charge on the SEC's web site at www.sec.gov. Undue reliance should
not be placed on forward-looking statements, which speak only as of
the date they are made. Except as required by law, Harrow Health
undertakes no obligation to update any forward-looking statements
to reflect new information, events or circumstances after the date
they are made, or to reflect the occurrence of unanticipated
events.
Investor Contact:Jon
Pattonjpatton@harrowinc.com858-704-4587
Source: Mayfield Pharmaceuticals, Inc. and Harrow Health,
Inc.
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