Karuna Therapeutics Appoints Bill Meury as President and Chief Executive Officer
December 06 2022 - 6:30AM
Business Wire
Mr. Meury is a distinguished pharmaceutical
leader with more than 25 years of operational and commercial
experience delivering transformative medicines to patients
Succeeds current president, chief executive
officer, and chairman, Steve Paul, M.D., who will transition to
president of research and development and chief scientific
officer
Christopher Coughlin to assume role of chairman
of the board
Karuna Therapeutics, Inc. (NASDAQ: KRTX), a clinical-stage
biopharmaceutical company driven to create and deliver
transformative medicines for people living with psychiatric and
neurological conditions, today announced the appointment of Bill
Meury as president and chief executive officer (CEO) and a member
of the Company’s board, effective January 3, 2023. Mr. Meury will
succeed Steve Paul, M.D., the current president, chief executive
officer and chairman, who will transition to president of research
and development and chief scientific officer and continue to serve
as a member of the board following the effective date. At that
time, Christopher Coughlin, the Company’s lead independent
director, will assume the role of chairman of the board.
“Bill’s appointment as president and CEO is the result of a
thoughtful succession plan initiated by Steve’s desire to follow
his passion, the science, and focus on the continued growth of
Karuna’s research and development efforts. As we considered the
natural evolution of the Company, Bill’s leadership and expertise
launching and commercializing medicines for psychiatric and
neurological conditions was a seamless fit for Karuna, aligning
with our strategy for late-stage clinical development and
commercialization,” said Mr. Coughlin. “As we look to the future
with Bill as CEO and Steve continuing to oversee our research and
development efforts, Karuna is very well positioned for continued
success in the coming years.”
Most recently, Mr. Meury served as a partner at Hildred Capital
Management, a private equity firm focusing on the healthcare
industry. Previously, he was executive vice president and chief
commercial officer at Allergan, where he had responsibility for
over 50 products with $16 billion in revenue and over $3 billion in
sales and marketing investment. In this role, he led multiple
global divisions, including marketing, sales, business analytics,
marketing operations, managed care, pricing, and customer service.
Prior to this role, he served as Allergan’s president, branded
pharma, and executive vice president, commercial, North American
brands. He also served as executive vice president, sales and
marketing, at Forest prior to its acquisition by Allergan. Mr.
Meury serves on the board of directors of Syndax Pharmaceuticals
and The Jed Foundation. He received a B.S. in economics from the
University of Maryland.
“Karuna, with a completely novel pharmacological platform, has
the potential to transform the way we think about, and treat,
complex psychiatric and neurological conditions,” said Mr. Meury.
“I have been impressed and inspired by what has been accomplished
to date, and I am extremely optimistic about the road ahead as the
Company approaches key milestones. I look forward to working
alongside Steve, and the incredibly talented Karuna team, as we
work toward the same goals – bringing innovative treatment options
to those living with serious mental illness and building the
capabilities to be a leading neuroscience company in
biopharma.”
“To say I am proud of the work we have accomplished to date
would be an understatement. As a result of the team’s unwavering
commitment, we are on the path to potentially deliver the first new
class of medicine for people living with schizophrenia in more than
50 years,” said Dr. Paul. “In my new role, I will continue to help
the team deliver on the promise of KarXT and advance other
innovative medicines in our pipeline. I have dedicated my career to
solving the challenges of treating serious mental illness and I
look forward to continuing my journey with Karuna, partnering with
Bill and the rest of my colleagues.”
About Karuna Therapeutics Karuna Therapeutics is a
clinical-stage biopharmaceutical company driven to create and
deliver transformative medicines for people living with psychiatric
and neurological conditions. At Karuna, we understand there is a
need for differentiated and more effective treatments that can help
patients navigate the challenges presented by serious mental
illness. Utilizing our extensive knowledge of neuroscience, we are
harnessing the untapped potential of the brain in pursuit of novel
pathways to develop medicines that make meaningful differences in
peoples’ lives. For more information, please visit
www.karunatx.com.
Forward-Looking Statements This press release contains
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
regarding our goals to develop and commercialize our product
candidates and other statements identified by words such as
“could,” “expects,” “intends,” “may,” “plans,” “potential,”
“should,” “will,” “would,” or similar expressions and the negatives
of those terms. Forward looking statements are not promises or
guarantees of future performance, and are subject to a variety of
risks and uncertainties, many of which are beyond our control, and
which could cause actual results to differ materially from those
contemplated in such forward-looking statements. These factors
include risks related to our ability to generate positive clinical
trial results for our product candidates and other risks inherent
in clinical development, the timing and scope of regulatory
approvals, changes in laws and regulations to which we are subject,
competitive pressures, and other risks set forth under the heading
“Risk Factors” of our Annual Report on Form 10-K for the year ended
December 31, 2021. Our actual results could differ materially from
the results described in or implied by such forward looking
statements. Forward-looking statements speak only as of the date
hereof, and, except as required by law, we undertake no obligation
to update or revise these forward-looking statements.
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Investors Alexis Smith asmith@karunatx.com
518-338-8990
Media Bob Josefsberg bjosefsberg@karunatx.com
646-734-3584
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