Chiasma Announces Addition of James R. Tobin and John F. Thero to Board of Directors
01 December 2015 - 12:00AM
Chiasma, Inc. (NASDAQ:CHMA), a late-stage biopharmaceutical company
developing Mycapssa™ (octreotide capsules), an investigational oral
drug for the maintenance therapy of adult patients with the orphan
disease acromegaly, today announced that James R. Tobin and John F.
Thero have joined the company's Board of Directors.
Mr. Tobin, formerly president and CEO of Biogen, Inc. and Boston
Scientific Corporation, will serve as a member of the Audit
Committee. Mr. Thero, President and CEO of Amarin Corporation
(NASDAQ:AMRN), will serve as chairman of the Audit Committee.
"We are excited to add these experienced, highly regarded
biotech leaders to Chiasma's Board of Directors at this important
stage in our development," said Mark Leuchtenberger, Chief
Executive Officer of Chiasma. "Both Jim and John have deep
operational and commercial experience on an international level,
and their business acumen and leadership will be invaluable to the
Board as we continue to build out our infrastructure and position
the company for long-term success."
Mr. Tobin was most recently President and CEO of Boston
Scientific Corporation from March 1999 to July 2009. Prior to
Boston Scientific, he served as President and CEO of Biogen from
February 1997 to December 1998, and President and COO of Biogen
from February 1994 to February 1997. Prior to joining Biogen, Mr.
Tobin was with Baxter International Inc., where he served as
President and COO from 1992 to 1994, as Executive Vice President
from 1988 to 1992, and in various management positions prior to
1988. Mr. Tobin served as lieutenant in the U.S. Navy from 1968 to
1972. He has been a Director of multiple private and public life
science firms and hospitals, and currently serves on the boards of
several private companies as well as Globus Medical, Inc.
(NYSE:GMED) and Oxford Immunotec Global PLC (NASDAQ:OXFD). Mr.
Tobin earned an M.B.A. from Harvard Business School and an A.B.
from Harvard College.
Mr. Thero joined Amarin in November 2009 and has more than 20
years of senior financial and operational management experience,
including more than 15 years supporting the growth of life science
companies. Mr. Thero became President and CEO of Amarin in 2014
after previously serving as the company's President and initially
as the company's Chief Financial Officer. Prior to Amarin, Mr.
Thero was at ViaCell, Inc., where as Chief Financial Officer he
helped guide the company to its successful sale to PerkinElmer, and
Abiomed, Inc., where he held multiple positions, including Senior
Vice President of Business Operations and Chief Financial Officer,
and helped manage the company's transition from a development-stage
company into a commercial entity. Mr. Thero began his professional
career at Arthur Andersen LLP.
About Chiasma
Chiasma is a late-stage biopharmaceutical company focused on
improving the lives of patients suffering from orphan diseases by
developing and commercializing novel oral forms of therapies that
are available today only by injection. The company's lead product
candidate is Mycapssa™ (octreotide capsules), a new investigational
drug for the orphan condition acromegaly, developed with Chiasma's
Transient Permeability Enhancer (TPE®) technology to facilitate
gastrointestinal absorption of unmodified drug into the bloodstream
safely. Mycapssa™ has not been approved for use in any
jurisdiction. Using TPE® technology, Chiasma is evaluating
additional proteins, peptides and small molecule drugs that are
currently only available by injection, but could potentially be
converted to oral delivery. TPE® technology is potentially well
suited for drugs with chronic indications, where frequent dosing is
required and the need for an oral alternative is greatest. Chiasma
is a Delaware corporation with a wholly owned Israeli
subsidiary.
Additional information can be found at www.ChiasmaPharma.com.
Forward-Looking Statements:
This release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding Chiasma's planned infrastructure
buildout and position for long-term success. Any forward-looking
statements in this press release are based on management's current
expectations of future events and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such
forward-looking statements. These risks and uncertainties include,
but are not limited to: risks associated with the regulatory review
process generally; the risk that the FDA may not make a decision on
Chiasma's NDA by the PDUFA target date; the risk that the FDA may
determine that that the data included in the NDA are insufficient
for approval and that we must conduct additional clinical trials,
or nonclinical or other studies before oral octreotide can be
approved; the risk that the results of previously conducted studies
involving oral octreotide or other product candidates will not be
repeated or observed in ongoing or future studies or following
commercial launch, if such product candidates are approved; risks
associated with obtaining, maintaining and protecting intellectual
property; risks associated with Chiasma's ability to enforce its
patents against infringers and defend its patent portfolio against
challenges from third parties; the risk that oral octreotide, if
approved, will not be successfully commercialized; the risk of
competition from currently approved therapies and from other
companies developing products for similar uses; risk associated
with Chiasma's ability to manage operating expenses and/or obtain
additional funding to support its business activities; and risks
associated with Chiasma's dependence on third parties, including
with respect to the manufacture of commercial supply in
anticipation of commercial launch, if oral octreotide is approved.
For a discussion of these and other risks and uncertainties, and
other important factors, any of which could cause our actual
results to differ from those contained in the forward-looking
statements, see the section entitled "Risk Factors" in the final
prospectus related to Chiasma's initial public offering filed with
the Securities and Exchange Commission pursuant to Rule 424(b) of
the Securities Act of 1933, as amended, as well as discussions of
potential risks, uncertainties and other important factors in
Chiasma's subsequent filings with the Securities and Exchange
Commission, including our most recent Quarterly Report on Form 10-Q
filed on November 16, 2015. All information in this press
release is as of the date of the release, and Chiasma undertakes no
duty to update this information unless required by law.
CONTACT: Media:
Carolyn Sobczyk
JPA Health Communications
(202) 591-4052
carolyn@jpa.com
Investors:
Jason Fredette
Chiasma, Inc.
(617) 928-5306
Jason.Fredette@ChiasmaPharma.com
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