CHICAGO, June 23, 2017 /PRNewswire/ -- Eton Pharmaceuticals, Inc., a development stage pharmaceutical company, today announced the hiring of Sean Brynjelsen as its Chief Executive Officer. Mr. Brynjelsen will develop and execute a strategy to drive near and long-term growth through the development of Eton's branded product candidate pipeline and by acquiring and in-licensing new products.
Mr. Brynjelsen has over 20 years of leadership experience in the pharmaceutical industry with companies including Sagent Pharmaceuticals, Akorn Pharmaceuticals, Hospira and Baxter. Most recently, he served as Executive Vice President of Business Development for Sagent, which was recently acquired by Nichi-Iko Pharmaceuticals Co., Ltd for over $700 million, where he made a number of successful transactions. Prior to his tenure at Sagent, he was Senior Vice President, Global Business Development for Akorn where he completed over 100 transactions including the acquisition of a number of products, contributing greater than $300 million of annual revenue. Mr. Brynjelsen earned an MBA degree from the University of Notre Dame and holds a Master of Science in Chemistry and a Bachelor of Science in Biochemistry from the University of Illinois.
Mr. Brynjelsen stated, "I am thrilled to be leading Eton's growing group of pharmaceutical industry professionals. The Eton team has vast experience in the sterile drug development process and they all have impressive records of success, leading to the creation of significant shareholder value. It is a great privilege to join with and lead our accomplished team as we to develop our portfolio of high impact branded medicines."
"We are excited to have Sean leading the charge for Eton. His experience within the pharmaceutical industry of value creation speaks for itself. He is the perfect person to execute Eton's exciting strategy," stated Mark L. Baum, a director of Eton. "Sean's prior experience focused on the development of sterile injectable drugs and the 505(b)(2) process, which we are confident will translate well to the business of Eton Pharmaceuticals. Having Sean at the helm is great for the patients Eton will serve, and is great for our shareholders," added Mr. Baum.
About Eton Pharmaceuticals
Eton Pharmaceuticals, Inc. is a spin-out of Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY) and a privately held company, focused on the development and commercialization of innovative sterile injectable product candidates utilizing the FDA 505(b)(2) regulatory pathway. The company's current portfolio consists of two proprietary product candidates: (1) a patent-pending gelatin-free and preservative free 39 amino acid peptide synthetic corticotropin, an adrenocorticotropic hormone (ACTH) analogue, as a potential competitor to H.P. Acthar® gel; and (2) a patent-pending injectable pentoxifylline formulation, as a potential treatment for Peyronie's disease and an alternative or supplementary therapy to Xiaflex®. Eton has signed agreements to acquire two additional sterile injectable product candidates that it plans to qualify under the Drug Efficacy Study Implementation (DESI) program, and commercialize through the 505(b)(2) regulatory pathway. For more information about Eton, please visit the corporate website at www.etonpharma.com.
Any statements in this release that are not historical facts may be considered to be "forward looking statements." Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Such statements include, but are not limited to, statements regarding the market opportunity for Eton's product candidates; and the business strategies and development plans of Eton. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include Eton's ability to make commercially available its products and technologies in a timely manner or at all; Eton's ability to enter into other strategic alliances, including arrangements for the development and distribution of its products; Eton's ability to obtain intellectual property protection for its assets; Eton's ability to accurately estimate its expenses and cash burn, and raise additional funds when necessary; risks related to research and development activities; the projected size of the potential market for Eton's technologies and products; unexpected new data, safety and technical issues; regulatory and market developments impacting the pharmaceutical industry; competition; and market conditions. Undue reliance should not be placed on forward looking statements, which speak only as of the date they are made. Except as required by law, neither Imprimis nor Eton undertake any obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
Xiaflex® and H.P. Acthar® gel and all other trademarks, service marks and trade names included or referenced into this press release, are the property of their respective owners.
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