Appointments of Kevin
Ostrander to Chief Business Officer and Dr. Niraj Vasisht to Chief Technology Officer
Further Strengthen Leadership Team
GRAND
RAPIDS, Mich., Feb. 9, 2023
/PRNewswire/ -- Corium Pharma Solutions, Inc. (CPSI), a leading,
full-service contract development and manufacturing organization
specializing in novel drug delivery technologies for prescription
drug and consumer products including transdermal modalities, has
named Kevin Ostrander as Chief
Business Officer and Dr. Niraj
Vasisht as Chief Technology Officer. These
appointments, including CPSI's recent announcement that
Mark Sirgo had been named Chief
Executive Officer, further strengthen CPSI's executive team and
position the company for long-term growth.
Appointments of Kevin Ostrander to Chief Business Officer and
Dr. Niraj Vasisht to Chief
Technology Officer
Kevin Ostrander brings more than
30 years of experience as both a research scientist and business
development professional in the pharmaceutical industry, having
worked for several small to mid-sized brand and generic companies.
Prior to joining CPSI, Mr. Ostrander served as Vice President of
Business Development for ApiJect Systems, a privately held medical
device company with proprietary delivery technology in the sterile
injectables market. Before ApiJect, Kevin was Senior Vice President
of Business Development at BioDelivery Sciences International
(BDSI) where he was responsible for concluding the acquisition of
the company by Collegium Pharmaceutical. Mr. Ostrander holds
a BS degree in Biology from the State
University of New York at Albany, an MS degree in
Pharmaceutical Quality Assurance and Regulatory Affairs from
Temple University School of Pharmacy
and an MBA in International Business from St. Joseph's University.
"Having worked together at BDSI, I am excited to team up with
Kevin again and I know he will play an instrumental role in shaping
our long-term growth strategy," said Mark
Sirgo, CEO of CPSI. "Working closely with myself, members of
the leadership team and our investors, we will focus on leveraging
our current capabilities and identifying potential complimentary
acquisitions that will allow us to extend our footprint in the
specialty contract manufacturing space."
Dr. Niraj Vasisht brings more than 25 years of experience
as an executive, entrepreneur, and technology key-opinion-leader in
drug delivery to the pharmaceutical industry. Prior to
joining CPSI, Dr. Vasisht was President and CEO of Avior Bio, Inc.,
a clinical-stage, manufacturing-integrated pharmaceutical company
that was utilizing drug delivery to reinvent proven therapeutics
for rare diseases. Before Avior, he was the Chief Technology
Officer at BDSI where he spent thirteen years in multiple roles and
oversaw the development, approval, intellectual property creation
and manufacturing of three FDA approved products utilizing a novel
drug delivery platform. Dr. Vasisht received a bachelor's in
Chemical Engineering from the Indian Institute
of Technology, India, and a
Doctorate in Chemical Engineering from Rensselaer Polytechnic Institute. He has over 25
patents, numerous publications and authored a book on
Microencapsulation and Controlled Release.
Mr. Sirgo commented, "I worked closely with Niraj for many years
at BDSI and am excited to have the opportunity to partner with him
again. As Chief Technology Officer, Niraj will play a critical role
overseeing the formulation development work behind all of our CPSI
platforms. In addition, he will be leading the assessment of
complimentary platforms for potential acquisition that will allow
CPSI to maintain a leadership role in the specialty development and
manufacturing sector."
Founded in 1995 in Grand Rapids,
Michigan, Corium Pharma Solutions has maintained
longstanding partnerships with multinational Fortune 500 companies
and pharmaceutical businesses alike. CPSI currently manufactures a
variety of over the counter and prescription products, including
Proctor & Gamble Co's (NYSE: PG) entire Crest Whitestrips
franchise, Agile Therapeutics, Inc.'s (NASDAQ: AGRX) Twirla®, and
Corium, LLC's ("Corium") ADLARITY®, a once-weekly, transdermal
donepezil patch for Alzheimer's patients.
About Corium Pharma Solutions
Headquartered in Grand Rapids,
Michigan, Corium Pharma Solutions is a leading, full-service
contract development and manufacturing organization specializing in
novel drug and consumer product delivery technologies. With a track
record spanning nearly 30 years, the company offers end-to-end
solutions to its partners, from formulation and product development
work, through commercial-scale manufacturing and packaging. The
company's success is enabled by its state-of-the-art facilities,
highly tenured operational leadership, and proprietary drug
delivery technologies, CORPLEX™ and MICROCOR®. Corium Pharma
Solutions is jointly owned by B-FLEXION and Webster Equity
Partners. Prior to the CPSI transaction with Webster Equity
Partners in October 2022, Gurnet
Point Capital, an affiliate of B-Flexion, led the original
investment in Corium Pharma Solutions through a take-private
transaction in October 2018.
About Gurnet Point Capital & B-FLEXION
Gurnet Point Capital, an affiliate of B-FLEXION, is a leading
healthcare fund that invests in de-risked life sciences companies.
Gurnet Point primarily focuses on businesses that have high growth
potential in the late product development and commercialization
stages of their evolution. These companies become partners not just
because of their capacity to generate economic value, but also
because of their potential to deliver social impact. Gurnet Point's
team of highly experienced industry executives works closely with
its portfolio companies, with an active approach driving
operational transformation and outsized returns.
www.gurnetpointcapital.com/
B-FLEXION is a private, entrepreneurial investment firm,
partnering with sophisticated capital to meet the shared goal of
delivering exceptional value over the generations, while also
contributing positively to society. The company oversees
growth-oriented operating businesses and asset managers, always
with an 'active owner' philosophy. B-FLEXION invests across a wide
range of industries, including healthcare. Gurnet Point Capital, an
affiliate of B-FLEXION, leads B-FLEXION's de-risked life sciences
investment strategy.
https://www.bflexion.com/
About Webster Equity Partners
Founded in 2003, Webster is a
private equity firm that focuses on high impact growth strategies
that seek to deliver optimal outcomes for our investors, portfolio
companies and the communities that we serve. Our mission is to
deliver superior returns to our partners through the investment in
and development of purpose driven patient-centric healthcare
organizations dedicated to providing best of class clinical care
and service to their patients.
https://websterequitypartners.com/
Contact
Gartman PR
(202) 413-4226
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SOURCE Corium Pharma Solutions Inc.