Arbor Pharmaceuticals Announces Acquisition by Investment Group

RALEIGH, N.C., April 13 /PRNewswire/ -- Arbor Pharmaceuticals,  a specialty pharmaceutical company focused on pediatric medicine, announced today that an investment group led by Jason Wild of JW Asset Management, LLC and Edward Schutter has acquired the company.  Jason Wild has been named Chairman of the Board at Arbor Pharmaceuticals, and Edward Schutter was named Chief Executive Officer and has also been elected to serve on the board of directors.  Joining Mr. Wild and Mr. Schutter as a director and a member of the investment group is Dr. Allen Chao, founder and former CEO of Watson Pharmaceuticals.  Jarrett Disbrow, founder and CEO of Arbor prior to the acquisition will remain with the company as Vice President of Commercial Development.

Jason Wild, Chairman of the Board commented, "We are thrilled that Ed has accepted the opportunity to lead the company.  Jarrett Disbrow and the current team have done a tremendous job building the franchise to this point and we are excited that all current employees will remain with Arbor as we take the company to the next level.  We believe that the management team, along with our newly elected board of directors, represents the very best and brightest in the specialty pharmaceutical industry today."

Arbor Pharmaceuticals currently offers products to treat symptoms of otitis media, otitis externa and atopic dermatitis, all common conditions in the pediatric population.  Jarrett Disbrow, founder and former CEO of Arbor, said, "We have been very pleased with our progress at Arbor and I want to thank all of our team members and investors for their help in growing the company to this point.  We have built an outstanding pediatric franchise and believe that the new investors have the resources necessary to maximize the potential of Arbor's marketed and pipeline products."

Ed Schutter, previously the President and COO of Sciele Pharma prior to its acquisition by Shionogi and Co., Ltd. added, "The acquisition of Arbor is an important first step by our investment team in the implementation of our strategic plan to create a successful specialty pharmaceutical company that meets the needs of patients not typically met by larger companies in our industry. We believe the Arbor products have further growth potential and intend to immediately add resources so they can reach their full potential. Arbor provides us both the platform and the capital base to acquire additional specialty pharma products to create a growing and sustainable business."

About Arbor Pharmaceuticals, Inc.

Arbor Pharmaceuticals, headquartered in Raleigh, North Carolina, is a specialty pharmaceutical company focused exclusively on the growing pediatric market. The company intends to become the leading pediatrics-focused pharmaceutical company by actively licensing, developing and commercializing late-stage products for significant pediatric conditions. Arbor currently markets three nonantibiotic products for varying otic conditions including XYLAREX®, ZINOTIC® and NEOTIC® as well as PEDIADERM™ HC COMPLETE KIT for atopic dermatitis.

For more information regarding Arbor Pharmaceuticals or any of its products, visit www.arborpharma.com or send email inquiries to [email protected].

About JW Asset Management, LLC

JW Asset Management is a New York based fund manager for three investment partnerships.  Jason Wild, a registered pharmacist, is the firm's founder and chief investment officer.  JW Asset Management was founded in 1997 and has a strong history of finding opportunities within the specialty pharmaceutical sector.  The firm is active in both the public and private equity markets.  

SOURCE Arbor Pharmaceuticals