MENLO PARK, Calif., Feb. 17, 2015 /PRNewswire/ -- Armetheon, Inc., a specialty biopharmaceutical company developing novel small molecule drugs for cardiovascular diseases, today announced the appointment of John (Jack) F. Glenn as Chief Financial Officer. Mr. Glenn brings 25 years of leadership experience within public and private companies in the healthcare industry. In his new role at Armetheon, Mr. Glenn will lead the Company's financial strategy, while overseeing and directing all aspects of financial planning and reporting. Mr. Glenn's appointment is effective immediately.
"Jack has a proven track record in financial administration and in successfully driving growth in enterprise value at both private and public companies," said Dr. M. (Ken) Kengatharan, President and interim CEO of Armetheon. "I believe his wealth of experience and his financial acumen will enable us to further strengthen our financial and operational infrastructure as we continue to advance our lead programs and progress toward regulatory submission and potential commercialization."
"I'm excited to become part of this dynamic organization, and I look forward to generating value for all of the Company's stakeholders," said Mr. Glenn. "Having recently closed on a Series B financing round, Armetheon is ideally poised to continue building a great organization and to propel the next phase of growth, including development of its lead candidate, tecarfarin."
Mr. Glenn most recently served as Chief Financial Officer of publicly traded Solta Medical, where he played a key role in the identification, negotiation and structuring of five acquisitions, public equity offerings and debt financings and assisted in the company's strategic acquisition by Valeant Pharmaceutical. Prior to this, Mr. Glenn was Chief Financial Officer, Vice President of Finance, Treasurer and Secretary at publicly traded Cholestech, where he supported the acquisition of the company by Alere Medical. Previously, he served as Chief Financial Officer and Vice President of Finance at Invivo Corporation, a publicly traded company, which was sold to Intermagnetics General Corporation. Mr. Glenn earned his MBA in Finance from Santa Clara University and his B.S. in Business Administration from the University of Nevada.
Tecarfarin is being investigated for use as an oral, once-daily anticoagulant that inhibits Vitamin K epoxide reductase (VKOR), an important enzyme in the coagulation system, and avoids CYP450 metabolism and renal elimination. In Phase 2 and Phase 2/3 (EMBRACE-AC) clinical testing, tecarfarin improved time in therapeutic range (TTR) in chronically anticoagulated patients. The effect of tecarfarin on TTR will be further investigated in the Company's pivotal clinical trial, TACT (Tecarfarin for AntiCoagulation Trial), which will be conducted under a Special Protocol Assessment agreed upon with the FDA. TACT is an open-label trial of 3,000 patients with any indication for anticoagulation, including prosthetic heart valve (PHV) patients. TTR was chosen as the endpoint for these trials on the basis of evidence suggesting that better anticoagulation control (as measured by higher TTR) can protect patients from severe or even fatal adverse events. Tecarfarin is monitored using INR (International Normalized Ratio), and is being investigated for use without the need for CYP2C9 genotyping since tecarfarin is not metabolized via the CYP450 system. In preclinical and early clinical studies, the anticoagulant effect of tecarfarin was reversed by existing and readily available antidotes for VKAs.
Armetheon, Inc., is a privately held, San Francisco Bay area-based specialty biopharmaceutical company focused on developing novel small molecule drugs for cardiovascular diseases with high unmet need. For more information: www.armetheon.com.
Heather Lake, Director of Corporate Development
+1 650-646-3898 ext 121
SOURCE Armetheon, Inc.