Antares Pharma Announces Changes in Senior Leadership
June 24 2014 - 9:00AM
Business Wire
Paul K. Wotton, Ph.D. Tenders
Resignation
Eamonn P. Hobbs Appointed President and
Chief Executive Officer
Antares Pharma, Inc. (NASDAQ: ATRS) today announced the
resignation of Paul K. Wotton, Ph.D. who informed the Company’s
Board of Directors that he will assume the position of chief
executive officer of a development stage biotechnology company. Dr.
Wotton also has resigned from the Antares Board of Directors.
Antares Pharma also announced today the appointment of Eamonn P.
Hobbs to the position of President and Chief Executive Officer of
the Company effective immediately. Mr. Hobbs joined the Antares
Board of Directors in August 2009 and has over 30 years of
experience in the pharmaceutical, medical device, and combination
products industry, including the medical specialty fields of
radiology, vascular surgery, interventional cardiology, oncology
and gastroenterology. Mr. Hobbs was previously the President and
Chief Executive Officer of Delcath Systems, Inc., a NASDAQ traded
specialty pharmaceutical and medical device company specializing in
cancer treatment. Prior to joining Delcath Systems, Inc., Mr. Hobbs
served as President and Chief Executive Officer of AngioDynamics,
Inc., a NASDAQ traded company he co-founded in 1988 as a subsidiary
of E-Z-EM. Throughout his 21 year tenure at AngioDynamics, he led
efforts in marketing, strategic planning, product development and
general management. From 1988 to 2004, Mr. Hobbs also served as
Executive Vice President of Business Development of E-Z-EM, a
NASDAQ traded company. Before joining AngioDynamics/ E-Z-EM, Mr.
Hobbs was Director of Marketing and Product Development at NAMIC;
founder, President and Chief Executive Officer of Hobbs Medical,
Inc; and a Product Development Engineer at Cook Incorporated. Mr.
Hobbs is the immediate past Chairman of the Board of Directors of
the Medical Device Manufacturers Association. Mr. Hobbs received a
Bachelor of Science in Plastics Engineering with a Biomaterials
emphasis at the University of Massachusetts (Lowell).
”The board is excited about having Mr. Hobbs lead Antares during
the next phase of its growth. We have worked closely with Eamonn
over the past five years as Board members and share his vision for
the future,” said Leonard S. Jacob, M.D., Ph.D., Chairman of the
Board of Directors. “The Board of Antares wishes Paul success in
his new endeavour. I have enjoyed working closely with him over the
past five years in building Antares into a fully integrated
specialty pharmaceutical company.”
“Antares has developed a robust business platform with
tremendous potential, and I look forward to leading a strong
management team and a group of dedicated and talented employees,”
said Eamonn P. Hobbs, President and Chief Executive Officer. “I’ve
worked closely with the Company over the past five years and
believe that our state of the art technologies, product development
capabilities and sound regulatory strategy have the potential to
produce numerous product approvals over the coming years further
enhancing shareholder value.”
About Antares Pharma
Antares Pharma focuses on self-administered parenteral
pharmaceutical products. The Company has received marketing
approval from the U.S. Food and Drug Administration for OTREXUP™
(methotrexate) injection for the treatment of adults with severe
active rheumatoid arthritis and children with active polyarticular
juvenile idiopathic arthritis. LEO Pharma markets OTREXUP™ to
dermatologists for adults with severe recalcitrant psoriasis.
Antares Pharma is also developing VIBEX® QS T for testosterone
replacement therapy. The Company's technology platforms include
VIBEX® disposable Medi-Jet, disposable multi-use pen injectors and
reusable needle-free injectors marketed as Tjet® and Zomajet® by
Teva Pharmaceutical Industries, Ltd (Teva) and Ferring
Pharmaceuticals (Ferring), respectively. Antares Pharma has a
multi-product deal with Teva that includes Tev-Tropin® [somatropin
(rDNA origin) for injection] human growth hormone (hGH), VIBEX®
epinephrine and several other products. In the U.S. Antares has
received FDA approval for Gelnique 3%™ (oxybutynin) gel, a
treatment for overactive bladder that is marketed by Actavis.
Elestrin® (estradiol gel) is FDA approved for the treatment of
moderate-to-severe vasomotor symptoms associated with menopause,
and is marketed in the U.S. by Meda Pharma. Antares Pharma has two
facilities in the U.S. The Parenteral Products Group located in
Minneapolis, Minnesota directs the manufacturing and marketing of
the Company’s reusable needle-free injection devices and related
disposables, and develops its disposable pressure-assisted Medi-Jet
and pen injector systems. The Company’s corporate office and
Product Development and Commercial Groups are located in Ewing, New
Jersey.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including statements made with
respect to future product approvals and their impact to shareholder
value, and other statements regarding matters that are not
historical facts, and involve predictions. These statements involve
known and unknown risks, uncertainties and other factors that may
cause actual results, performance, achievements or prospects to be
materially different from any future results, performance,
achievements or prospects expressed in or implied by such
forward-looking statements. In some cases you can identify
forward-looking statements by terminology such as ''may'',
''will'', ''should'', ''would'', ''expect'', ''intend'', ''plan'',
''anticipate'', ''believe'', ''estimate'', ''predict'',
''potential'', ''seem'', ''seek'', ''future'', ''continue'', or
''appear'' or the negative of these terms or similar expressions,
although not all forward-looking statements contain these
identifying words. Such forward-looking statements are not
guarantees of future performance and are subject to risks and
uncertainties that may cause actual results to differ materially
from those anticipated by the forward-looking statements.
Additional information concerning these and other factors that may
cause actual results to differ materially from those anticipated in
the forward-looking statements is contained in the "Risk Factors"
section of the Company's Annual Report on Form 10-K for the year
ended December 31, 2013, and in the Company's other periodic
reports and filings with the Securities and Exchange Commission.
The Company cautions investors not to place undue reliance on the
forward-looking statements contained in this press release. All
forward-looking statements are based on information currently
available to the Company on the date hereof, and the Company
undertakes no obligation to revise or update these forward-looking
statements to reflect events or circumstances after the date of
this press release, except as required by law.
Antares Pharma, Inc.Jack Howarth, 609-359-3016Vice President,
Corporate Affairsjhowarth@antarespharma.com
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