Patara Pharma Appoints Biotechnology Industry Leader John Schmid to Board of Directors
Seasoned Corporate Finance Executive Adds Strategic Fiscal Expertise
SAN DIEGO, May 3, 2016 /PRNewswire/ -- Patara Pharma, a clinical-stage biopharmaceutical company developing new therapeutics that significantly improve the lives of patients suffering from debilitating allergic and immune disorders, today announced the appointment of John Schmid to its board of directors.
"John joins Patara's board at a pivotal time as we advance our flagship program, PA101B, through multiple Phase 2 studies to improve treatment options for patients suffering from orphan diseases such as idiopathic pulmonary fibrosis," said Bill Gerhart, chairman and chief executive officer of Patara Pharma. "John's expertise in financing life science companies is a welcome addition to our team, and we look forward to his contributions as we execute on our vision."
Mr. Schmid brings more than 20 years of fiscal, strategic and operational experience in the life science industry. Most recently, he was chief financial officer of Auspex Pharmaceuticals, which he helped take public before it was acquired by Teva Pharmaceuticals in 2015 for $3.5 billion.
"PA101B has the potential to treat multiple orphan disease conditions, including refractory chronic cough in patients diagnosed with pulmonary fibrosis," said Mr. Schmid. "I look forward to working with Patara's accomplished board and experienced management team to grow the company and advance critical new therapeutic options for these serious health conditions, which have limited or no effective treatments today."
Prior to serving as CFO at Auspex, Mr. Schmid was co-founder and CFO of Trius Therapeutics, which went public in 2010 and was acquired by Cubist Pharmaceuticals for over $800 million in 2013. Previously, he served as CFO of GeneFormatics and Endonetics (acquired by Medtronic). He currently serves as a director of AnaptysBio and Neos Therapeutics. Mr. Schmid holds a B.A. in Economics from Wesleyan University and an M.B.A. from the University of San Diego. He is a past president and board member of the San Diego Venture Group.
At Patara, Mr. Schmid joins a board of recognized industry leaders including Steve Aselage, CEO of Retrophin; Gerry Proehl, CEO of Dermata and former CEO of Santarus; and Wendell Wierenga, former executive vice president of research and development at Santarus, Ambit Biosciences and Neurocrine Biosciences.
About Refractory Chronic Cough and IPF
Chronic cough is a dry, non-productive cough that persists for more than eight weeks with a frequency of up to 100 times per hour. Chronic cough has a debilitating physical and psychosocial burden, exacerbates concomitant respiratory disease, and causes loss of sleep and reduced social mobility. While many cases of chronic cough are treatable and/or resolve spontaneously, certain individuals such as those with pulmonary fibrosis, lung cancer, and other respiratory diseases can have a debilitating chronic cough that persists despite treatment with currently available therapies.
IPF is a progressive and generally fatal lung disorder characterized by scarring and thickening of lung tissue causing an irreversible loss of the ability to transport oxygen. There is no cure for IPF and treatment options are limited. Chronic cough is one of the most significant contributors to poor quality of life and may be an independent predictor of disease progression in IPF. It is believed that more than 150,000 adults in the United States have IPF, with up to 40 percent suffering from a chronic cough that does not respond to current therapies.
About Patara Pharma
Patara Pharma is a clinical-stage biopharmaceutical company developing new therapeutics that significantly improve the lives of patients suffering from debilitating allergic and immune disorders. The company's lead candidate, PA101B, is a late-stage immune modulator with mast cell stabilizing properties delivered via the proprietary investigational PARI eFlow® nebulizer system. Patara has completed four Phase 1 studies and has initiated three Phase 2 clinical trials in multiple indications, including refractory chronic cough in patients diagnosed with idiopathic pulmonary fibrosis. Patara maintains its corporate headquarters in San Diego. For more information about Patara Pharma, please visit www.patarapharma.com.
Patara Pharma Media Contact:
Amy Conrad
P: 858-914-1962
E: [email protected]
SOURCE Patara Pharma
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