Arcutis Appoints Patrick Burnett, M.D., Ph.D., FAAD, as Chief Medical Officer
July 27 2020 - 9:00AM
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a late-stage
biopharmaceutical company focused on developing and commercializing
treatments for unmet needs in immune-mediated dermatological
diseases and conditions, or immuno-dermatology, today announced the
appointment of Patrick Burnett, M.D., Ph.D., FAAD, as Chief Medical
Officer, effective August 1. Dr. Burnett replaces Howard Welgus,
M.D., FAAD, who is retiring from Arcutis, but will continue as a
strategic advisor to the Company, and has been elected to the
company’s Board of Directors.
“We are delighted to welcome Patrick to the
Arcutis team,” said Frank Watanabe, Arcutis’ President and Chief
Executive Officer. “His outstanding experience in the development
and commercialization of innovative dermatology products will be
invaluable to Arcutis as we advance our lead drug candidate through
late-stage clinical trials and into regulatory approval to treat
inflammatory dermatological conditions. We are fortunate to have
his clinical leadership as we continue to execute upon our bold
strategy to become the preeminent innovation-driven medical
dermatology company.”
“I am excited to be joining Arcutis at this
important point in the company’s evolution,” said Dr.
Burnett. “With a pipeline of four potentially best-in-class
topical therapies, Arcutis is positioned to meaningfully advance
patient care in dermatology.”
Dr. Burnett joins Arcutis from Verrica
Pharmaceuticals, where he was Chief Medical Officer from April 2018
to July 2020, and where he oversaw the Phase 3 program and new drug
application (NDA) submission for VP-102. He previously was
Associate Vice President of Clinical Development at Sun
Pharmaceuticals from September 2015 to March 2018, where he led the
biologics license application (BLA) submission for Ilumya for
psoriasis in the U.S. and Europe, and oversaw their dermatology and
rheumatology pipeline. Prior to Sun, Dr. Burnett worked at Novartis
from 2010 to August 2015, most recently as Global Program Medical
Director, where he was involved in the approval of Cosentyx for
psoriasis in the U.S. He is a board certified dermatologist
and was a member of the medical faculty at Vanderbilt University
Medical Center as an Assistant Professor of Dermatology from 2004
to 2010. Dr. Burnett holds an M.D. and Ph.D. in neuroscience from
Johns Hopkins School of Medicine and a B.S. in Biology and
Biochemistry from the University of Iowa.
Mr. Watanabe continued, “We are deeply indebted
to Howard, a luminary in the field of dermatology for four decades,
for his immense contributions to the formation of Arcutis and the
development of our pipeline. Howard was the second employee at
Arcutis and we consider him a core part of our DNA. His expertise,
insight, humanity, and uncompromising commitment to serving
patients have been instrumental in shaping Arcutis into the company
it is today. Howard is a rare, upstanding example of a trusted
colleague and a dear friend. While he plans to step back from
day-to-day operations, we are delighted that we will continue to
benefit from his ingenuity, as well as his wit and wisdom, as he
helps share his incalculable insights as a member of our board and
a strategic advisor to the company.”
In addition, Dan Estes, Arcutis founder and General Partner at
Frazier Life Sciences, will step down from the Board of
Directors.
“As we grow and evolve as a company, it’s
natural that the composition of our Board of Directors evolves as
well,” said Watanabe. “As an Arcutis founder, Dan’s extensive
knowledge, strategic insights, and wise counsel have been
invaluable to our success to date. We have benefitted greatly from
Dan’s contributions and we thank him for helping build Arcutis into
the company it is today.”
About Arcutis - Bioscience, applied to the
skin.
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is
a medical dermatology company developing innovative treatments for
patients with immune-mediated dermatological diseases and
conditions. The company is leveraging recent advances in immunology
and inflammation to develop differentiated therapies against
biologically validated targets to solve persistent treatment
challenges in serious diseases of the skin. Arcutis’ robust
pipeline includes four novel drug candidates currently in
development for a range of inflammatory dermatological conditions.
The company’s lead product candidate, topical roflumilast, has the
potential to revitalize the standard of care for plaque psoriasis,
atopic dermatitis, scalp psoriasis, and seborrheic dermatitis.
For more information, visit https://www.arcutis.com or follow
the company on LinkedIn and Twitter.
Forward Looking StatementsThis
press release contains "forward-looking" statements, including,
among others, statements regarding the potential and prospects of
Arcutis and its product candidates, the timing of clinical data
readouts and the expectation that Dr. Welgus will serve as a member
of the Board of Directors and that Dr. Burnett will serve as Chief
Medical Officer. These statements involve substantial known and
unknown risks, uncertainties and other factors that may cause our
actual results, levels of activity, performance or achievements to
be materially different from the information expressed or implied
by these forward-looking statements and you should not place undue
reliance on our forward-looking statements. Risks and uncertainties
that may cause our actual results to differ include risks inherent
in the clinical development process and regulatory approval
process, the timing of regulatory filings, and our ability to
defend our intellectual property. For a further description of the
risks and uncertainties applicable to our business, see the "Risk
Factors" section of our Form 10-Q filed with U.S. Securities and
Exchange Commission (SEC) on May 12, 2020, as well as any
subsequent filings with the SEC. We undertake no obligation to
revise or update information herein to reflect events or
circumstances in the future, even if new information becomes
available.
Contact:Heather Rowe Armstrong Vice President,
Investor Relations & Corporate
Communicationsharmstrong@arcutis.com805-418-5006, Ext. 740
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