WARRINGTON, Pa., July 1, 2021 /PRNewswire/ -- Windtree
Therapeutics, Inc. (NasdaqCM: WINT), a biotechnology and medical
device company focused on advancing multiple late-stage
interventions for acute cardiovascular and pulmonary disorders,
today announced the appointment of Diane
Carman, Esq. as Senior Vice President and General Counsel,
reporting to Craig Fraser, President
and Chief Executive Officer.
Ms. Carman brings over two decades of successful experience
working in the life sciences and other highly regulated industries.
She has built the legal and compliance infrastructure and served as
a strategic business partner and General Counsel to several biotech
and medical device companies. She brings skills in creating
and cultivating legal and compliance teams, guiding organizations
through the multi-faceted process of development and bringing their
products to market, overseeing risk management and mitigation,
managing corporate governance matters, ensuring compliance with SEC
rules and regulations, building strategic alliances, guiding
fundraising efforts and M&A teams through transactions from
conception through integration and cultivating and leading the HR
function. Ms. Carman mostly recently served as General Counsel and
Secretary to Vitara Biomedical, Inc., an early stage, spin-out of
the Children's Hospital of Philadelphia committed to transforming the
lives of premature infants, where she managed the legal department
and served as a tactical legal and business advisor. Prior to
Vitara, she served as General Counsel to Helius Medical
Technologies, a publicly traded, medical device company;
Ablynx, Inc., a public biopharmaceutical company which she
helped shepherd though its successful sale to Sanofi in 2018, and
Gamesa Technology Corporation, a public renewable energy company
where she successfully negotiated various M&A transactions and
resolved litigation matters. Earlier in her career, Ms. Carman
served as in-house counsel for the National Broadcasting Company
(NBC); was an associate for the AmLaw 100 firm of O'Melveny &
Myers, LLP; and served as a judicial intern in the U.S. Court of
Appeals for the Third Circuit. She holds a J.D. from the
Villanova University Charles Widger
School of Law (summa cum laude) and a B.A. from Villanova University (magna cum laude).
"We are delighted to welcome Diane to the Windtree team in her
new role as General Counsel," said Craig Fraser, President and
Chief Executive Officer of Windtree. "She is a talented and
experienced executive with in-depth knowledge of pharmaceutical
development companies and our clinical and business development
operations. Her decades of legal and executive experience
will be instrumental as we advance our multiple late-stage clinical
candidates and grow the business."
Ms. Carman added, "I am thrilled to join the very talented
Windtree team at such a transformative time in the Company's
growth. I look forward to helping advance the mission of the
Company to develop innovative therapies intended to address
significant unmet medical needs in important acute cardiovascular
and pulmonary care markets."
In connection with Ms. Carman's appointment, the Board of
Directors of Windtree granted Ms. Carman a stock option to purchase
150,000 shares of Windtree's common stock. The exercise price
of the stock option will be the closing price of Windtree's common
stock on the Nasdaq Capital market on the date of the grant,
July 1, 2021. The stock option
is being granted to Ms. Carman as an inducement material to her
accepting employment with Windtree and is being granted outside of
the Windtree Therapeutics, Inc.'s 2020 Equity Incentive Plan, in
accordance with Nasdaq Listing Rule 5635(c)(4). The stock options
will vest in three equal annual installments beginning on the first
anniversary of the grant date, subject to Ms. Carman's continued
employment with Windtree through the applicable vesting date.
About Windtree Therapeutics
Windtree Therapeutics,
Inc. is advancing multiple late-stage interventions for acute
cardiovascular and pulmonary disorders to treat patients in moments
of crisis. Using new clinical approaches, Windtree is developing a
multi-asset franchise anchored around compounds with an ability to
activate SERCA2a, with lead candidate istaroxime being developed as
a first-in-class treatment for acute heart failure and early
cardiogenic shock in heart failure. Windtree has also focused on
developing AEROSURF® as a non-invasive surfactant treatment for
premature infants with respiratory distress syndrome, and is
facilitating transfer of clinical development of AEROSURF® to
its licensee in Asia, Lee's HK, while Windtree evaluates
other uses for its synthetic KL4 surfactant for the treatment of
acute pulmonary conditions including lung injury due to viral,
chemical and radiation induced insults. Also, in its portfolio is
rostafuroxin, a novel precision drug product targeting hypertensive
patients with certain genetic profiles.
For more information, please visit the Company's website
at www.windtreetx.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. The Company 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 based on information available to
the Company as of the date of this press release and 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. Examples of such risks and uncertainties
include: risks and uncertainties associated with the ongoing
economic and social consequences of the COVID-19 pandemic,
including any adverse impact on the Company's clinical trials or
disruption in supply chain; the success and advancement of
the clinical development programs for istaroxime, AEROSURF®,
KL4 surfactant and the Company's other product candidates; the
Company's ability to secure significant additional capital as and
when needed; the Company's ability to access the debt or equity
markets; the Company's ability to manage costs and execute on its
operational and budget plans; the results, cost and timing of the
Company's clinical development programs, including any delays to
such clinical trials relating to enrollment or site initiation;
risks related to technology transfers to contract manufacturers and
manufacturing development activities; delays encountered by the
Company, contract manufacturers or suppliers in manufacturing drug
products, drug substances, aerosol delivery systems (ADS) and other
materials on a timely basis and in sufficient amounts; risks
relating to rigorous regulatory requirements, including that: (i)
the FDA or other regulatory authorities may not agree with the
Company on matters raised during regulatory reviews, may require
significant additional activities, or may not accept or may
withhold or delay consideration of applications, or may not approve
or may limit approval of the Company's product candidates, and
(ii) changes in the national or international political and
regulatory environment may make it more difficult to gain
regulatory approvals and risks related to the Company's efforts to
maintain and protect the patents and licenses related to its
product candidates; risks related to the size and growth potential
of the markets for the Company's product candidates, and the
Company's ability to service those markets; the Company's ability
to develop sales and marketing capabilities, whether alone or with
potential future collaborators; and the rate and degree of market
acceptance of the Company's product candidates, if
approved. These and other risks are described in the Company's
periodic reports, including the annual report on Form 10-K,
quarterly reports on Form 10-Q and current reports on Form 8-K,
filed with or furnished to the Securities and Exchange Commission
and available at www.sec.gov. Any forward-looking statements
that the Company makes in this press release speak only as of the
date of this press release. The Company assumes no obligation to
update forward-looking statements whether as a result of new
information, future events or otherwise, after the date of this
press release.
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SOURCE Windtree Therapeutics, Inc.