NEWARK, Calif., July 16, 2014 /PRNewswire/ -- Depomed, Inc. (Nasdaq: DEPO) today announced the appointment of Srinivas G. Rao, MD, PhD, as Chief Medical Officer and Senior Vice President. Dr. Rao has extensive experience and background in pain and central nervous system diseases. He was the Founder and Chief Executive Officer of Kyalin Biosciences, a privately held biotechnology company developing a potential breakthrough therapy for autism, from its formation in 2011 through to its sale to Retrophin, Inc in 2013. In 2014, he served as Executive Vice President and Head of Neuroscience at Retrophin. From 2011 to 2013, Dr. Rao also served as CMO and CSO of 3 companies through his association with Avalon Ventures. Finally, from 2001 to 2011, he was Chief Scientific Officer of Cypress Bioscience where he had a broad range of responsibilities, from business to clinical development. He was the innovator behind Savella™, postulating that this drug's unique pharmacology would be effective for fibromyalgia. Savella™ was approved by the FDA for this indication in 2009.
Dr. Rao received his MD from Yale School of Medicine and his PhD in neurobiology from Yale Graduate School. Dr. Rao is a member of the American College of Neuropharmacology, the American Pain Society, International Association for the Study of Pain and the Society for Neuroscience.
"We are delighted to have Srini join us as Chief Medical Officer", said Jim Schoeneck, President and Chief Executive Officer. "His deep expertise in the areas of pain and neurology and his experience in in-licensing and directing the clinical development and approval of medicines to treat important CNS conditions make him a great fit for Depomed as we seek to expand our franchise in pain and central nervous system diseases."
"I am extremely pleased to be joining Depomed at this exciting time in the company's history," said Dr. Rao. "I believe that Jim and the team at Depomed have accomplished a tremendous amount in the past few years and continue to move towards a leadership position in the field of pain and CNS related products. I look forward to helping the company achieve that goal."
Depomed is a specialty pharmaceutical company that commercializes products for pain and neurology related disorders. Gralise® (gabapentin) is a once-daily treatment approved for the management of postherpetic neuralgia. CAMBIA® (diclofenac potassium for oral solution) is a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks with or without aura in adults (18 years of age or older). Zipsor® (diclofenac potassium) Liquid Filled Capsules is a non-steroidal anti-inflammatory drug indicated for relief of mild to moderate acute pain in adults. Lazanda® (fentanyl) Nasal Spray is an intranasal fentanyl drug used to manage breakthrough pain in adults (18 years of age or older) who are already routinely taking other opioid pain medicines around-the-clock for cancer pain. Gralise and various partner product candidates are formulated with Depomed's proven, proprietary Acuform® drug delivery technology. Additional information about Depomed may be found at www.depomed.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties including, but not limited to, risks related to the company's ability to acquire or in-license new products and the risks detailed in the company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10-K for the year ended December 31, 2013 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2014. The inclusion of forward-looking statements should not be regarded as a representation that any of the company's plans or objectives will be achieved. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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