Supernus Announces Resignation of Dr. James Barrett from Board of Directors; Charles W. Newhall, III Elected Chairman
13 August 2016 - 6:15AM
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), a specialty
pharmaceutical company focused on developing and commercializing
products for the treatment of central nervous system (CNS)
diseases, today announced that Dr. M. James Barrett, Ph.D., has
resigned from its Board of Directors effective August 10, 2016.
Dr. Barrett, currently Partner Emeritus at New Enterprise
Associates (NEA), a venture capital firm that focuses on the life
sciences and information technology industries, had served as the
Chairman of the Board of Directors since 2005 when NEA was the lead
investor in Supernus. Dr. Barrett’s resignation is consistent with
NEA’s exit from Supernus late last year, and with his need to
devote his energies going forward towards the current board
positions he holds in connection with the NEA portfolio of
investments. With the announcement of Dr. Barrett's departure, the
Board unanimously elected Charles W. Newhall, III, a current
independent director, as Chairman. The Company now has six
directors.
Mr. Newhall has served as a member of our Board since 2005, and
currently serves as Chair of the Governance and Nominating
Committee. He started several healthcare information technology
companies, including PatientKeeper, TargetRx, and LifeMetrix. He
currently serves on the Boards of Interfusion, Neuropace, and Vitae
Pharmaceuticals, and as Chairman Emeritus of the Industry Advisory
Board for Greenspring Associates. In 1977, Mr. Newhall co-founded
NEA from which he retired in 2012. Prior to that, he was a Vice
President of T. Rowe Price. Mr. Newhall is a decorated Vietnam
veteran and has an MBA from the Harvard Business School.
“I am excited by the opportunity to chair the Board of Directors
of this fast growing, innovative company,” said Newhall. "I look
forward to leading the Board and working closely with the
management team to continue to deliver value for all of our
stakeholders. I would like to thank Jim for his leadership,
expertise and insights, and wish him well with his other
endeavors."
Supernus Chief Executive Officer and member of the Board of
Directors, Jack Khattar said, "On behalf of Supernus' Board of
Directors and management team, I would like to thank Jim for the
outstanding leadership he has provided the Company during his
tenure as Chairman. His expertise and guidance for over a decade
have been instrumental in helping Supernus become a profitable
commercial stage company."
Khattar added, “I look forward to working with Charles in his
new capacity as Chairman. He has been an integral member of
Supernus’ Board of Directors since its inception, and he is a
proven leader with extensive industry experience."
About Supernus Pharmaceuticals, Inc.
Supernus Pharmaceuticals, Inc. is a specialty pharmaceutical
company focused on developing and commercializing products for the
treatment of central nervous system diseases. The Company has two
marketed products for epilepsy, Oxtellar XR® (extended-release
oxcarbazepine) and Trokendi XR® (extended-release topiramate). The
Company is also developing several product candidates to address
large market opportunities in psychiatry, including SPN-810 for the
treatment of Impulsive Aggression in ADHD patients and SPN-812 for
the treatment of ADHD.
CONTACTS:
Jack A. Khattar, President and CEO
Gregory S. Patrick, Vice President and CFO
Supernus Pharmaceuticals, Inc.
Tel: (301) 838-2591
or
INVESTOR CONTACT:
Peter Vozzo
Westwicke Partners
Office: (443) 213-0505
Mobile: (443) 377-4767
Email: peter.vozzo@westwicke.com
Supernus Pharmaceuticals (NASDAQ:SUPN)
Historical Stock Chart
From Apr 2024 to May 2024
Supernus Pharmaceuticals (NASDAQ:SUPN)
Historical Stock Chart
From May 2023 to May 2024