LEXINGTON, Mass., May 3, 2017 /PRNewswire/ -- Pulmatrix, Inc. (NASDAQ: PULM) a clinical stage biotechnology company developing inhaled therapies for the treatment of significant unmet needs in respiratory diseases, today announced the appointment of Ted Raad as Chief Business Officer. In this newly created position, Mr. Raad will provide strategic business leadership as the company advances its programs through clinical development and partnership opportunities.
"Ted is a proven leader in the commercial development of products with significant experience in Respiratory indications and Infectious Diseases. His vision and skill set are perfectly suited to advance our pipeline products built around our proprietary iSPERSE inhaled dry powder technology," said Robert Clarke, PhD, CEO of Pulmatrix. "His later stage and commercial experience on asthma/COPD and anti-infective drugs is a perfect complement to the R&D and development expertise of the Pulmatrix team. We're looking forward to Ted helping us build an integrated company that will bring needed therapies to patients and opportunities for investors."
Most recently as Chief Commercial Officer at Option Care, Ted helped separate the specialty home infusion business unit from Walgreens to create the nation's largest independent home infusion provider where he continued to run all commercial functions for the business. Prior to that, he was a business unit head at Sunovion with overall commercial responsibility for its CNS and respiratory products, including assets in asthma and COPD. During his tenure at Sunovion, Ted launched multiple products in respiratory and led successful strategic alliances in the US and Japan. Earlier in his career, Ted was involved in the launch of Sporanox, Janssen's oral itraconazole product to treat fungal infections. Ted received a BS in Business Administration from University of Colorado at Boulder and an MBA from Thunderbird Global School of Global Management.
Pulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary disease using its patented iSPERSE™ technology. The Company's proprietary product pipeline is focused on advancing treatments for rare diseases, including PUR1900, an inhaled anti-fungal for patients with cystic fibrosis (CF) and severe asthma. In addition, Pulmatrix is pursuing opportunities in major pulmonary diseases through collaborations, including PUR0200, a branded generic in clinical development for chronic obstructive pulmonary disease (COPD). Pulmatrix's product candidates are based on iSPERSE™, its proprietary dry powder delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and reducing systemic side effects to improve patient outcomes.
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions that such statements involve risks and uncertainties that may materially affect the Company's results of operations. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms; the Company's ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to the Company's products, including patent protection. A discussion of these and other factors, including risks and uncertainties with respect to the Company, is set forth in the Company's annual report on Form 10-K filed by the Company with the Securities and Exchange Commission on March 10, 2017. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Pulmatrix, Inc.