MALVERN, Pa., May 5, 2014 /PRNewswire/ -- SCILEX Pharmaceuticals, Inc., a company engaged in the development and commercialization of products focused on the treatment of pain, today announced the appointment of finance and accounting veteran Jerrold Sendrow to the Company's board of directors.
Mr. Sendrow brings to SCILEX twenty-eight years of experience in finance and accounting, including positions as Vice President and Chief Financial Officer at 800 Travel Systems, Inc.; a public company, Vice President of Finance at MSW Columbia Travel Group, Inc.; and Controller at PISA Brothers, Inc. He is currently providing tax and investment advice to clients at J.B. Sendrow & Associates and is a graduate of Bernard Baruch College of CUNY and received his CFP from Adelphi University.
He joins Eric Floyd, Ph.D., a pharmaceutical industry executive with sixteen years of product development and regulatory experience at Novartis, Bristol Myers Squibb, Hospira, and Cephalon, on the SCILEX board.
Dr. Floyd currently holds the position of Vice President of US Regulatory Affairs and Clinical Quality Assurance for Lundbeck, Inc., a $4 billion dollar global pharmaceutical company. He holds a Ph.D. in Neurophysiology from Meharry Medical College, an executive M.B.A. from Saint Joseph's University and has served as an Assistant Professor at Harvard University School of Medicine.
"We are pleased to welcome both Jerrold and Eric to the SCILEX Pharmaceuticals Board of Directors. Together, they bring great experience and expertise to the company, with deep knowledge of finance/accounting and drug development/regulatory, respectively. SCILEX is at the beginning of a great journey toward the development of Ztilido™, our next generation lidocaine patch, and looks forward to Eric and Jerrold's advice and counsel as we move forward toward commercialization," said Anthony Mack, Co-Founder of SCILEX.
SCILEX's' first product under development, Ztilido™ (lidocaine patch 1.8%), is a next-generation branded lidocaine patch formulation for the potential treatment of relieving the pain of postherpetic neuralgia, also referred to as after-shingles pain. Ztilido™ aims to be in a position to capitalize on the approximately $1.25 billion market created by the patent expiration of Lidoderm® (lidocaine patch 5%) as a differentiated and best in class lidocaine transdermal preparation in this segment. The Company believes that Ztilido™'s attributes will also allow it to compete effectively against Lidoderm®.
About SCILEX Pharmaceuticals
SCILEX Pharmaceuticals, Inc., located in Malvern, PA, is an emerging specialty pharmaceutical company engaged in the development and commercialization of products for the treatment of pain. The Company's vision is to become a world-class, global pharmaceutical company that delivers the next generation of innovative products. Leveraging its network of global relationships, the Company seeks to acquire high barrier-to-entry, late-stage products for development and commercialization. The Company's first product under development, Ztilido™ (lidocaine patch 1.8%), is a next-generation branded lidocaine patch formulation for the potential treatment of relieving the pain of postherpetic neuralgia, also referred to as after-shingles pain. The FDA Division of Anesthesia and Analgesia Products agreed to a 505(b)(2) regulatory pathway, to obtain market approval. The Company anticipates initiating the pivotal bridging clinical study in the second quarter of 2014 and the other standard dermal clinical safety studies shortly thereafter. The Company expects to file the New Drug Application prior to the end of 2014.
For more information visit www.scilexpharma.com.
Forward Looking Statements
Forward-looking statement — This press release may contain forward-looking statements regarding future events and the future performance of SCILEX Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements are based on management's current beliefs and expectations. These statements include, but are not limited to, statements that relate to SCILEX's business and its future, including SCILEX's ability to develop and commercialize products for the treatment of pain, that SCILEX is moving toward the commercialization of Ztilido™, that Ztilido™ will be in a position to capitalize on the approximately $1.25 billion market created by the patent expiration of Lidoderm® as a differentiated and best in class lidocaine transdermal preparation in this segment, that Ztilido's™ attributes will allow it to compete effectively against Lidoderm®, the timing of the initiation of clinical studies and the filing of a New Drug Application, and any statements that relate to the intent, belief, plans or expectations of SCILEX or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that Ztilido™ may not successfully bridge safety and efficacy to Lidoderm® through the planned bridging clinical study; successfully demonstrate suitable safety in the additional clinical studies; the possibility that SCILEX's future application to the FDA may not receive approval in a timely manner or at all; and SCILEX's dependence on third parties for clinical trials and manufacturing. SCILEX does not plan to update any such forward-looking statements and expressly disclaims any duty to update the information contained in this press release except as required by law.
Ztilido™ is a trademark owned by SCILEX Pharmaceuticals, Inc. Any other trademarks are the property of their respective owners. A proprietary name review by the FDA is planned. © 2014 SCILEX Pharmaceuticals, Inc. All Rights Reserved.
SCILEX Pharmaceuticals, Inc.
William Pedranti, COO
SOURCE SCILEX Pharmaceuticals, Inc.