Healthcare Industry News: Neuropathic Pain
News Release - November 4, 2010
Euthymics Bioscience, Inc. Names Biotech Executive Timothy J. Barberich to Board of DirectorsFormer Sepracor Founder and CEO Brings a History of Experience and Success in Drug Development and Commercialization
CAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)-- Euthymics Bioscience, Inc., a clinical-stage company developing next-generation antidepressants, today announced that Timothy J. Barberich, the founder and former CEO of Sepracor, Inc., has joined the company’s Board of Directors as an independent board member, bringing the total number of board members to five. Mr. Barberich brings to Euthymics a long history of hands-on experience as a successful biotechnology industry executive.
Euthymics’ lead product candidate EB-1010 is a novel, triple reuptake inhibitor antidepressant intended for use by the estimated two-thirds of major depression patients who do not respond adequately to the current medications available within the $20 billion worldwide antidepressant market. The addition of Mr. Barberich to the Euthymics Board supports critical upcoming milestones—the company is preparing to present Phase II major depression data in a peer-reviewed forum, and to initiate a major Phase II/III clinical trial, also in major depression.
“Timothy Barberich developed the strategy and recruited the team that led to the development and success of Sepracor. His knowledge, particularly in the field of central nervous system disorders, will be invaluable to Euthymics’ own growth and development,” said Anthony A. McKinney, President, CEO and Co-Founder of Euthymics. “As we work to develop a world-class Board of Directors and adhere to the highest standards of good governance practices, we are pleased to have Tim join us as a key advisor.”
Mr. Barberich founded Sepracor, a fully integrated research pharmaceutical company, in 1984 and served as CEO and Chairman. Under his leadership at Sepracor, revenues grew to more than a billion dollars as the company partnered and commercialized a number of successful products, including Allegra®, Clarinex® and Lunesta®. In 2009 Sepracor was acquired by Dainippon Sumitomo for $2.6 billion to form one of the largest Japanese-based global pharmaceutical companies. Prior to Sepracor, Mr. Barberich held a series of management positions at Millipore as the company grew to over a billion dollars in revenue serving the life sciences industry.
About Euthymics Bioscience, Inc.
Euthymics Bioscience, Inc. is a neuroscience-focused clinical-stage company developing next-generation treatments for central nervous system disorders. The company’s lead product candidate, EB-1010 for depression, is a triple reuptake inhibitor that acts on serotonin, norepinephrine and dopamine in a specific unbalanced ratio and is given as monotherapy (a single capsule). EB-1010 has demonstrated proof-of-concept efficacy as treatment for major depression without causing weight gain or loss of sexual function, which often lead to poor adherence to standard antidepressants.
Euthymics also plans to develop a second triple reuptake inhibitor, EB-1020, which is in the late research stage, for adult ADHD and Neuropathic Pain.
Euthymics is a privately held company with headquarters in Cambridge, Massachusetts. Additional information can be found on the company’s website at www.euthymics.com.
Source: Euthymics Bioscience
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