NEWTON, Mass. and JERUSALEM, Feb. 24, 2015 /PRNewswire-USNewswire/ -- Chiasma, Inc., a U.S. privately-held biopharma company developing octreotide capsules its lead product for the orphan condition acromegaly, today announced the appointment of David Stack, president, CEO and chairman of Pacira Pharmaceuticals, as chairman of the board and John "Chip" Scarlett, M.D., president and CEO of Geron Corporation, as a member of the board.
"Chiasma will benefit from the deep experience and knowledge that Dave and Chip bring to our board of directors," said Roni Mamluk, Ph.D., chief executive officer of Chiasma. "As we move octreotide capsules, the first and only oral somatostatin analog for acromegaly, toward a New Drug Application submission by the middle of this year, we expect their insights and guidance on clinical development and commercial strategy to be of tremendous value."
"Octreotide capsules have transformative potential in the treatment of acromegaly, a disorder that results from an excess of growth hormone and an indication for which Chiasma enjoys orphan designation in both the U.S. and EU," said Mr. Stack. "Further, Chiasma is in a strategically advantageous position, with positive Phase III results, a clear regulatory path toward registration and full worldwide rights with this lead candidate, and a now clinically validated technology platform for the development of oral peptides. I am pleased to join as chairman to work with the management team at this pivotal stage, and look forward to adding value for both patients and shareholders."
"The current treatment of acromegaly and neuroendocrine tumors with somatostatin analogs requires chronic, frequent and painful injections," stated Dr. Scarlett. "Based on my prior experience leading companies that have developed and sold products used for the treatment of acromegaly and neuroendocrine tumors, I know that both patients and physicians have indicated a strong desire for an effective oral alternative. Chiasma's octreotide capsules show efficacy as an oral alternative, replacing painful injections, while maintaining or improving symptom control."
Mr. Stack joined Chiasma in late 2014 as chairman, bringing more than 25 years of successful industry experience in both large and small private companies to the company. He is currently president, CEO and chairman of Pacira Pharmaceuticals, where he led the transformation of Pacira from a sustained-release injectable technology company into a fully integrated, acute care pharmaceutical company. Mr. Stack also remains a managing director at MPM Capital. From September 2001 to August 2004, Mr. Stack was president, CEO and a director of The Medicines Company. Prior to The Medicines Company, Mr. Stack was the president and general manager of Innovex, a commercial solutions company. From 1993 to 1995, Mr. Stack was the vice president of business development and marketing for Immunomedics, and from 1992 to 1993, he served as the director of business development and planning for infectious disease, oncology and virology of Roche Laboratories. He held other commercial positions with Roche Laboratories for almost 11 years. Mr. Stack holds a degree in pharmacy from Albany College and a B.S. in biology from Siena College.
Dr. Scarlett joined Chiasma's board in early 2015. He has served as the CEO and a director at Geron since September 2011 and president since January 2012. Prior to joining Geron, Dr. Scarlett served as president, CEO and a member of the board of directors of Proteolix, Inc. from February 2009 until its acquisition by Onyx Pharmaceuticals, Inc. in November 2009. Dr. Scarlett served as the CEO and a member of the board of directors of Tercica, Inc. and also as its president from February 2002 through February 2007. From March 1993 to May 2001, Dr. Scarlett served as president and CEO of Sensus Drug Development Corporation. In 1995, he co-founded Covance Biotechnology Services, Inc. and served as a member of its board of directors from inception to 2000. Dr. Scarlett received his B.A. degree in chemistry from Earlham College and his M.D. from the University of Chicago, Pritzker School of Medicine.
Chiasma is a biopharma company dedicated to improving the lives of patients by developing and commercializing novel oral medications that were previously available by injection only. The company's lead candidate is octreotide capsules for the orphan condition, acromegaly. Chiasma is evaluating additional proteins, peptides and small molecule drugs that that are currently only available by injection but could potentially be converted to oral delivery using the company's TPE® technology. Chiasma is a Delaware corporation with a wholly owned Israeli subsidiary.
Additional information can be found at www.ChiasmaPharma.com.
Roni Mamluk, Ph.D.
Chief Executive Officer
JPA Health Communications