SAN FRANCISCO, April 23, 2018 /PRNewswire/ -- OrphoMed, Inc., a clinical-stage biopharmaceutical company developing first-in-class dimer therapeutics, announced today the appointment of Gary M. Phillips, M.D. as President and Chief Executive Officer. Dr. Phillips has over two decades of experience in the pharmaceutical and healthcare industries, leading commercial operations, clinical medicine, business strategy and development functions. Founder Nikhilesh Singh, Ph.D. has been appointed OrphoMed's Chief Scientific Officer, a newly-created position.
"I am excited and honored to lead OrphoMed during this next phase focused on building additional pipeline value," said Dr. Phillips. "Nik has assembled a highly-experienced team and has successfully led the company from initial financing into preclinical studies and now into clinical trials. OrphoMed's dimer platform technology and pipeline of novel therapeutics hold great promise and potential value. I look forward to accelerating this important work of developing and expanding our pipeline of dimer therapeutics to help patients with gastrointestinal disorders."
Dr. Phillips joins OrphoMed from Mallinckrodt Pharmaceuticals, where he served as Executive Vice President and Chief Strategy Officer since 2013. Previously, he was Head of Global Health & Healthcare Industries at the World Economic Forum. Earlier, he was President of Reckitt Benckiser Pharmaceuticals North America (now Indivior) and held dual roles as President, U.S. Surgical and Pharmaceuticals and Global Head of Pharmaceuticals at Bausch & Lomb. Additionally, he has served in executive roles at Merck Serono, Novartis, and Wyeth. From the University of Pennsylvania, he earned a B.A. in Biochemistry with Summa Cum Laude and Phi Beta Kappa distinctions from the College of Arts and Sciences, an MBA from the Wharton School, and an M.D. with Alpha Omega Alpha distinction from the School of Medicine. Dr. Phillips maintains an active medical license and practiced as a general medicine clinician/officer in the U.S. Navy, from which he was honorably discharged as a lieutenant commander.
Nikhilesh Singh has served as OrphoMed's President and Chief Executive Officer since founding the Company in 2015.
"My goal since the beginning has been to establish the foundation for OrphoMed through an initial Series A financing and establishing a highly experienced team with a track record of success in the GI field," said Dr. Singh. "After advancing into a second Phase 1 clinical trial for our lead product candidate ORP-101, the time is right for me to transition to a new Chief Scientific Officer role, where I can focus on unlocking additional value from OrphoMed's dimer platform. I welcome Gary to OrphoMed and am excited to partner with him and this capable team as we focus on developing best-in-class dimer therapeutics for patients."
About OrphoMed, Inc. OrphoMed is a clinical-stage biopharmaceutical company focused on the development of novel first-in-class dimer therapeutics for patients with gastrointestinal disorders. Leveraging its proprietary dimer platform technology engineered by Dr. Singh, OrphoMed is advancing ORP-101, a potential best-in-class buprenorphine dimer in clinical development for the treatment of IBS-D, and its pipeline of additional dimer conjugates. In May 2017, OrphoMed completed a $39 million Series A financing with New Enterprise Associates, Takeda Ventures, Pappas Capital and Relativity Healthcare. The capital will be used to advance the clinical development of ORP-101 through Phase 2. For more information please visit www.orphomed.com.
This press release contains "forward-looking statements," which reflect our current views and expectations with respect to future outcomes or events. When used in this press release, the words "could," "believe," "anticipate," "intend," "estimate," "expect," "project" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Because these statements are based on current estimates and assumptions, they are inherently subject to risks that could cause the actual outcomes to differ materially from what we currently expect. These forward-looking statements are subject to numerous risks and uncertainties, including, among others, the facts that we are substantially dependent on our ability to successfully develop and commercialize our products; the commercial adoption of our products and any other product candidates we develop will depend on the degree of their market acceptance; we have only limited assets and will need to raise additional capital before we can expect to generate revenue or become profitable; and we have never generated any revenue and may never be profitable. Forward-looking statements in this presentation apply only as of the date made, and we undertake no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.