Healthcare Industry News: nanoparticles
News Release - March 29, 2006
Mona Haynes Joins Acusphere in Newly Created Position of Vice President, Marketing and SalesIndustry Veteran Selected to Drive AI-700 Commercial Strategy
WATERTOWN, Mass.--(HSMN NewsFeed)--March 29, 2006--Acusphere, Inc. (NASDAQ: ACUS ) today announced the appointment of Mona Haynes as Vice President, Marketing and Sales. Ms. Haynes joins Acusphere with 25 years of pharmaceutical marketing and sales experience. At Biogen, she had overall marketing responsibility for Avonex®, which grew from $75 million to $750 million under her leadership. Most recently, at Alkermes, Haynes was responsible for building the marketing function for Vivitrol(TM), a drug that was recently licensed to Cephalon in a transaction valued at about $500 million.
Ms. Haynes is leading an Acusphere marketing team which has over 40 years of combined experience in cardiovascular imaging and includes the ongoing support of Dr. Bill Ramage. This team's primary mandate is to further prepare and plan for the commercial launch of the Company's lead product, AI-700, which is being developed to screen patients for coronary heart disease.
Prior to joining Acusphere, Ms. Haynes was responsible for building the marketing function and establishing market development strategies for one of Alkermes' first products, Vivitrol. As part of this achievement, Ms. Haynes developed comprehensive programs to educate and modify the treatment practices in the field of alcohol dependence. Prior to Alkermes, Ms. Haynes served in various senior sales and marketing roles with Biogen and Baxter. At Biogen, she was responsible for developing the marketing strategy that invigorated Avonex sales momentum by utilizing education of patients and physicians to help change the way in which medicine was practiced in the field of Multiple Sclerosis.
"I am very excited by the opportunity to once again influence change in the marketplace by assuring that new products, with new benefits, are understood and available," commented Ms. Haynes. "Based on my recent experience in preparing for the launch of Vivitrol, a small and focused team of people working during the period leading up to the filing of an NDA can lay the groundwork for a successful ramp-up in commercialization efforts as the launch approaches. I believe AI-700 will have compelling competitive advantages in a very large and growing market and I am enthusiastic about the opportunity to prepare for and launch this exciting product."
"As we near completion of the clinical phase of our lead product candidate, AI-700, Mona brings valuable commercial market development experience to Acusphere," stated Sherri Oberg, President and CEO at Acusphere. "Her skill in understanding existing medical practices and providing thought leadership that drives the adoption of new products is precisely what we need at this point in our lifecycle. We are very pleased to have Mona join Acusphere to provide marketing expertise, enhance our sales strategy and execution."
About Acusphere, Inc.
Acusphere (NASDAQ: ACUS ) is a specialty pharmaceutical company that develops new drugs and improved formulations of existing drugs using its proprietary microparticle technology. Acusphere's three initial product candidates are designed to address large unmet clinical needs within cardiology, oncology and asthma. These product candidates were created using proprietary technology that enables Acusphere to control the porosity and size of nanoparticles and microparticles in a versatile manner that allows particles to be customized to address the delivery needs of a variety of drugs. Acusphere's lead product candidate, AI-700, is a cardiovascular drug in Phase 3 clinical development. AI-700 is designed to enable ultrasound to compete more effectively with nuclear stress testing, the leading procedure for detecting coronary heart disease. An estimated 11.9 million procedures are done each year in the U.S. to detect coronary heart disease, the leading cause of death in the United States. For more information about Acusphere visit the Company's web site at www.acusphere.com. "Acusphere" is a trademark of Acusphere, Inc.
The above press release contains forward-looking statements regarding the application of Acusphere's proprietary microparticle technology which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release, including statements relating to the commercial prospects of AI-700, overall product opportunities and the ability to establish and develop a sales team for AI-700 and other products constitute forward-looking statements which involve risks and uncertainties. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including anticipated operating losses and existing capital obligations, uncertainties associated with research, development, testing and related regulatory approvals, including uncertainties regarding the ultimate outcome of Acusphere's Phase 3 clinical trials for AI-700 and uncertainties regarding the number of patients required to complete the Phase 3 clinical trials, unproven markets, future capital needs and uncertainty of additional financing, lack of sales and marketing experience, uncertainties associated with intellectual property, uncertainties regarding the cost, timing and ultimate success of the qualification of the Company's commercial manufacturing facility in accordance with applicable regulatory requirements, complex manufacturing, high quality requirements, lack of commercial manufacturing experience, dependence on third-party manufacturers, suppliers and collaborators, competition, loss of key personnel, uncertainties associated with market acceptance and adequacy of reimbursement, technological change and government regulation, and other risks and challenges detailed in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2005. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this press release or to reflect the occurrence of unanticipated events.
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