CoLucid Pharmaceuticals Appoints Matthew Dallas as Chief Financial Officer and Treasurer

DURHAM, N.C., Feb. 9, 2015 /PRNewswire/ -- CoLucid Pharmaceuticals, Inc., a privately held biopharmaceutical company, announced today the appointment of Matthew Dallas as Chief Financial Officer and Treasurer. Simultaneous with the announcement, CoLucid announced the retirement of Tim C. Gupton, CPA. Tim has been the CFO for CoLucid since its inception, and was also a partner in Hughes Pittman & Gupton, LLP.

"We are excited to have Matt join our team as he has extensive financial leadership skills and brings valuable strategic financial and operational  experience to our team, especially as we are initiating our Phase 3 SAMURAI study," said Thomas P. Mathers, Chief Executive Officer of CoLucid.  "We also wish to thank Tim Gupton for his prior leadership and helping CoLucid emerge as a leader in migraine therapy, and wish him well in retirement," he added.

Mr. Dallas has more than 18 years of financial management experience including 16 years in the life sciences industry. Prior to joining CoLucid, Matt was the Vice President of Finance and Treasurer at AVEO Oncology with responsibility for AVEO's Finance, Information Technology, and Facilities functions.  Matt previously worked at Genzyme Corporation, NEN Life Sciences, and Kimberly-Clark Corporation where he held various positions of increasing responsibility in finance and accounting. Mr. Dallas holds a B.S. in Finance from the University of Tennessee in Knoxville.

"I am excited to join the CoLucid team and help initiate our ambitious Phase 3 program for lasmiditan," said Mr. Dallas.

ABOUT LASMIDITAN

Lasmiditan has been designed to deliver efficacy in acute migraine without the vasoconstrictor activity associated with previous generations of migraine therapies.  It selectively targets 5-HT_1F receptors expressed in the trigeminal pathway.  Its novel chemical class and differentiated site and mechanism of action led to lasmiditan's designation as a "ditan," a new drug class, by the INN and USAN.

CoLucid has successfully completed seven clinical studies for Lasmiditan, including a Phase 2b study treating a single migraine attack in 391 patients, as well as a TQTc study. Phase 3 development will address major unmet medical needs in patients who are poorly served currently by available therapies to include patients with risk factors for cardiovascular disease who may not be able to take triptans.

We have a Special Protocol agreement with the FDA for SAMURAI which includes two novel endpoints for the approval of acute migraine therapies—a primary endpoint of the proportion of patients who are free of headache pain at 2 hours and a key secondary endpoint of the proportion of patients who no longer suffer from their most bothersome associated symptom of migraine (nausea, photophobia, phonophobia) at 2 hours.

ABOUT MIGRAINE

Migraine is ranked as the seventh highest cause of global disability and in the top 10 causes of disability in 14 of 21 world regions studied, according to findings by the Global Burden of Disease Survey 2010 conducted by the World Health Organization. It is the leading cause of disability among neurological disorders.  An estimated 36 million Americans have migraine, which is more than have asthma or diabetes combined.  Migraine can be extremely disabling and costly, accounting for more than $20 billion in direct (e.g. doctor visits, medications) and indirect (e.g. missed work, lost productivity) expenses each year in the United States.

ABOUT COLUCID PHARMACEUTICALS, INC.

CoLucid was founded by Pappas Ventures and is developing oral Lasmiditan for the acute treatment of migraine headache and intravenous Lasmiditan for treatment of headache pain by health care professionals.

CoLucid is partnered with ILDONG Pharmaceutical Co, Ltd, under a distribution and supply agreement for Lasmiditan, in South Korea and Southeast Asia.

For more information, please visit CoLucid at www.colucid.com.

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SOURCE CoLucid Pharmaceuticals, Inc

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http://www.colucid.com