Collegium Appoints Ted Schroeder to Board of Directors
January 25 2016 - 7:00AM
Collegium Pharmaceutical, Inc. (Nasdaq:COLL) today announced the
appointment of Ted Schroeder to its board of directors. Mr.
Schroeder led specialty pharmaceutical company Cadence
Pharmaceuticals from its founding until its acquisition by
Mallinckrodt Pharmaceuticals for $1.4 billion in 2014. Most
recently, Mr. Schroeder co-founded Zavante Therapeutics, which is
developing its antibiotic candidate ZTI-01.
"Ted has significant experience in the commercialization of
specialty pharmaceutical drugs that are highly relevant as we move
toward the launch of Xtampza™ ER," said Michael Heffernan, CEO of
Collegium. "Furthermore, his experience as CEO of a public company
will provide helpful perspective as we transition to a commercial
stage public company. We are very pleased to have him join the
Collegium team."
“Xtampza ER has the potential to offer a truly differentiated
treatment option for patients with chronic pain. I’m excited to
join Collegium as the company prepares for the U.S. commercial
launch and advances additional product candidates that leverage the
DETERx technology platform,” said Ted Schroeder.
Mr. Schroeder co-founded Cadence Pharmaceuticals in 2004 and
served as president, CEO and member of the board of directors until
the company's acquisition by Mallinckrodt Pharmaceuticals in 2014
for $1.4 billion. Under his leadership, Cadence raised over $400
million, including completion of a successful IPO, and established
a strong hospital-based sales and marketing presence in support of
its acute care product. Prior to co-founding Cadence, he held
several roles at Elan Pharmaceuticals including senior vice
president of North America sales and marketing and vice president
and general manager of the Hospital Products Business Unit, a role
he also held at Dura Pharmaceuticals before its acquisition by
Elan. Prior to joining Dura, Mr. Schroeder held a number of sales
and marketing positions with Bristol-Myers Squibb. In 2015,
Mr. Schroeder co-founded Zavante Therapeutics, where he is
President and CEO.
Mr. Schroeder currently serves on the board of Cidara
Therapeutics (Nasdaq:CDTX), and Otonomy (Nasdaq:OTIC). Previously,
he served on the boards of Hyperion Therapeutics, Incline
Therapeutics and Trius Therapeutics until their respective
acquisitions. Mr. Schroeder is chair of BIOCOM, the Southern
California Life Sciences organization. He holds a bachelor's degree
in management from Rutgers University. In 2014, Mr. Schroeder was
named the Ernst & Young Life Sciences Entrepreneur of the Year
for the San Diego region and was named a national Entrepreneur of
the Year Finalist.
About Collegium Pharmaceutical, Inc.
Collegium is a specialty pharmaceutical company focused on
developing a portfolio of products that incorporate its
patent-protected DETERx® technology platform for the treatment of
chronic pain and other diseases. The DETERx oral drug delivery
technology is designed to provide extended-release delivery, unique
abuse-deterrent properties, and flexible dose administration
options.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. We may, in some cases, use terms such as "predicts,"
"believes," "potential," "proposed," "continue," "estimates,"
"anticipates," "expects," "plans," "intends," "may," "could,"
"might," "will," "should" or other words that convey uncertainty of
future events or outcomes to identify these forward-looking
statements. Such statements are subject to numerous important
factors, risks and uncertainties that may cause actual events or
results to differ materially from the company's current
expectations. For example, there can be no guarantee that we will
obtain final approval for Xtampza ER or any of our other product
candidates from the FDA or foreign regulatory authorities; even if
Xtampza ER obtains final approval, we may not be able to obtain the
label claims that we are seeking from the FDA. Furthermore, we are
subject to patent infringement litigation relating to Xtampza ER
and may, in the future, be subject to additional litigation
relating to our other product candidates, which may be expensive to
defend and delay the commercialization of Xtampza ER or our other
product candidates. Management's expectations and, therefore, any
forward-looking statements in this press release could also be
affected by risks and uncertainties relating to a number of other
factors, including the following: our ability to commercialize our
product candidates; the size and growth potential of the markets
for our product candidates, and our ability to service those
markets; our ability to develop sales and marketing capabilities,
whether alone or with potential future collaborators; the rate and
degree of market acceptance of our product candidates; the success,
cost and timing of our product development activities, studies and
clinical trials; the success of competing products that are or
become available; and our expectations regarding our ability to
obtain and adequately maintain sufficient intellectual property
protection for our product candidates. These and other risks are
described under the heading "Risk Factors" in the registration
statement on Form S-1 (commission file number 333-208641), which
was declared effective by the Securities and Exchange Commission
("SEC") on January 7, 2016, and those risks described from time to
time in other reports which we file with the SEC. Any
forward-looking statements that we make in this press release speak
only as of the date of this press release. We assume no obligation
to update our forward-looking statements whether as a result of new
information, future events or otherwise, after the date of this
press release.
Contact:
Douglas Carlson
Vice President, Corporate Development
dcarlson@collegiumpharma.com
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