HAYWARD, Calif., Feb. 5, 2013 /PRNewswire/ -- Intarcia Therapeutics, Inc. today announced the appointment of Owen Hughes, Jr., to the position of Chief Business Officer (CBO) and Head of Corporate Development. Mr. Hughes joins Intarcia from Brookside Capital, a multi-billion dollar hedge fund under the Bain Capital umbrella, where he served as a Director, co-managing all public and private healthcare investments. In his new position, Mr. Hughes will report directly to Intarcia Chairman, President and CEO Kurt Graves.
"I've known and respected Owen for many years for three key reasons. The first is his penetrating insights and tenacious 'in-it-to-win-it' spirit that will drive significant progress and results for our patients, our people, and our investors," said Mr. Graves. "The second quality is Owen's leadership, external focus and team-building demeanor that fits perfectly into our culture. Third, he is broadly plugged into where healthcare and technology is going and has built valuable relationships with many key players that will be important for our future success. We are thrilled to have him join our team!"
Mr. Hughes' leadership position is newly created at Intarcia and focuses on strategic planning, business operations, as well as oversight of all strategic transactions and business building collaborations. A primary objective will be to build an exciting pipeline with the Company's proprietary technology platforms. He will also work closely with the marketing team as Intarcia builds out new and forward-looking commercial models that fit the rapidly changing healthcare environment. Mr. Hughes' talents should prove very helpful to the Company during a time of intense strategic opportunity and growth.
Prior to working for Brookside Capital (Bain Capital), Mr. Hughes held steadily advancing positions at premier financial institutions, including Pyramis Global Advisors (a Fidelity Investment Company), Triathalon Fund Management LLC, Ziff Brothers Investments, Merrill Lynch / Morgan Stanley, and PaineWebber Incorporated. He graduated from Dartmouth College with a Bachelor of Arts in History. Mr. Hughes was an avid hockey player, having played varsity hockey at Dartmouth all four years, and received the Rookie of the Year Award in addition to subsequent honors in both sports and academics. He resides in the Boston area with his wife and family.
"It will be invigorating working with Owen, as he is very adept at making insightful choices and strategic investments based on his extraordinary sense of opportunities and where markets are going. But he also has amazing follow-up impact by knowing what has to get done tactically and how to be part of a high-performing team that executes to win," added Mr. Graves. "He's as fast-paced and exciting as the ice hockey he used to play. But he's also a good sportsman who never forgets team dynamics and what the real goal in healthcare is all about – doing good for patients."
About Intarcia Therapeutics, Inc.
Intarcia Therapeutics, Inc. is a biopharmaceutical company developing therapies to enhance treatment outcomes by optimizing and improving the efficacy, continuous administration and tolerability of drug therapies. In addition, delivering medicines just once or twice yearly virtually ensures patient adherence and compliance, which is very poor in most chronic diseases. Intarcia's drug development expertise and competitive edge are demonstrated by its abilities to stabilize proteins and peptides at above-body temperature and to deliver them in a constant and consistent manner via Intarcia's proprietary technology platform. Intarcia is pursuing a Phase 3-stage development program for type 2 diabetes and has additional programs ongoing for weight regulation to control obesity. For more information on the Company, please visit www.intarcia.com.
Intarcia and its logo are registered trademarks of Intarcia Therapeutics, Inc.
SOURCE Intarcia Therapeutics, Inc.