KemPharm Strengthens its Board of Directors as Company Prepares for Multiple Clinical and Business Milestones in 2014
Richard Pascoe, CEO of Apricus Biosciences, and Joseph B. Saluri, Vice-President - General Counsel for Stine Seed Company, Added to KemPharm's Board
CORALVILLE, Iowa, Jan. 13, 2014 /PRNewswire/ -- KemPharm, Inc., a clinical stage biopharmaceutical company focused on the discovery and development of new, safer therapies to treat pain, announced today the appointment of Richard Pascoe, CEO of Apricus Biosciences, and Joseph B. Saluri, Vice-President - General Counsel, Stine Seed Company, to the company's Board of Directors. The additions of Mr. Pascoe and Mr. Saluri bring extensive public company and business development experience to KemPharm as the company prepares for multiple clinical and business milestones in 2014, including the expected submission of a New Drug Application (NDA) for KP201, KemPharm's lead clinical candidate, in the third quarter of 2014.
Travis C. Mickle, Ph.D., President and CEO of KemPharm, commented, "2014 is expected to be a pivotal year for KemPharm as we target a third-quarter NDA submission for KP201 and seek to advance several of our high-value abuse-deterrent prodrugs through the clinic. The appointments of Richard and Joseph to our Board bring highly relevant experience and expertise to KemPharm that should help us to fully capitalize on the numerous opportunities that we foresee both in terms of business growth and development potential."
Richard Pascoe is currently the Chief Executive Officer of Apricus Biosciences (NASDAQ: APRI), a position that he has held since March of 2013. Prior to Apricus, Mr. Pascoe was the Chief Executive Officer of Somaxon Pharmaceuticals where he was responsible for the FDA approval and commercialization of its lead drug Silenor® prior to the merger of Somaxon with Pernix Therapeutics. Mr. Pascoe's career is further highlighted by a series of senior management roles at ARIAD Pharmaceuticals, Inc., King Pharmaceuticals, Inc., Medco Research, Inc. (which was acquired by King), COR Therapeutics, Inc., B. Braun Interventional and The BOC Group. Mr. Pascoe served as a Commissioned Officer with the U.S. Army 24th Infantry Division, following his graduation from the United States Military Academy at West Point where he received a B.S degree in Leadership.
Mr. Pascoe remarked, "I greatly welcome the opportunity to join KemPharm's Board as the company embarks on what I believe will be a momentous 2014. Not only does KP201 offer the potential to re-define the prescription opioid market given its ability to limit abuse and opioid-induced constipation, but KemPharm is also poised to advance several other candidates that could further reshape the pain and ADHD markets. Travis and his team have built a tremendous company, and I look forward to being instrumental in its continued success."
Joseph Saluri currently holds the position of Vice President and General Counsel for Stine Seed Company and is also a member of the Board of Directors for NewLink Genetics. An employee of Stine Seed Company since 1999, Mr. Saluri has held positions of increasing authority at the company and is presently responsible for establishing collaborative licensing, research, and marketing alliances with international biotechnology and agribusiness companies, in addition to managing the legal and intellectual property affairs for the Stine Companies. Previous to his employment with Stine, Mr. Saluri was an attorney and solicitor at law with Nicholas Critelli Associates, PC, in Des Moines, IA and London. Mr. Saluri received a BS/BA from Drake University and a JD from Drake University Law School.
Mr. Saluri commented, "Given my Iowa roots, I'm very excited to be a part of KemPharm's Board and have the opportunity to be a part of another Iowa life sciences success story. In particular, KemPharm's highly differentiated pipeline and proprietary LAT platform offer the company numerous growth options, and I am eager to work with Travis and his team to maximize its full potential."
KemPharm is a biopharmaceutical company focused on the discovery and development of new chemical entities (NCEs) to treat serious medical conditions through its proprietary and broadly applicable Ligand Activated Therapy (LAT) approach. The company utilizes its LAT technology to generate improved prodrug versions of FDA approved drugs in the high needs areas of pain, ADHD and other CNS diseases. KemPharm's lead clinical candidate, KP201, is in development for the treatment of acute, moderate to moderately severe pain with a new drug application (NDA) expected to be filed in the third quarter of 2014. Composed of hydrocodone chemically bound to a ligand, KP201 offers unique physicochemical and pharmacological attributes that may deliver additional patient benefits, including reduced potential for abuse and reduction or elimination of opioid-induced constipation (OIC). KemPharm's pipeline is also highlighted by KP511, its hydromorphone prodrug for pain, KP606, its oxycodone prodrug for pain, and KP415, a prodrug of methylphenidate for the treatment of ADHD. For more information on KemPharm, please visit the company's website at www.kempharm.com.
SOURCE KemPharm, Inc.
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