Healthcare Industry News: PTC Therapeutics
News Release - August 13, 2014
Inotek Pharmaceuticals Names David P. Southwell as President and Chief Executive OfficerLEXINGTON, Mass.--(Healthcare Sales & Marketing Network)--Inotek Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on ophthalmology, today announced that David. P. Southwell has been named President and Chief Executive Officer. Mr. Southwell will also join the Board of Directors. Mr. Southwell brings to Inotek more than 20 years of experience in biotechnology and pharmaceuticals including financings, mergers and acquisitions, and general corporate leadership.
Prior to joining Inotek, Mr. Southwell served as Executive Vice President and Chief Financial Officer of Human Genome Sciences (NASDAQ:HGSI) during the approval and launch of Benlysta®, a novel biologic treatment for lupus, up to the company’s acquisition by GlaxoSmithKline plc in 2012. Before joining the management team of Human Genome Sciences, he served on the company’s Board of Directors. Previously, Mr. Southwell was Executive Vice President and Chief Financial Officer of Sepracor Inc., a position he held for 14 years during which time the company raised over $2 billion in equity and convertible security financings and developed and launched Lunesta, Xopenex®, Brovana®, and Xopenex HFA®. Mr. Southwell started his career in investment banking at Lehman Brothers, where he rose to Vice President. He currently serves on the boards of PTC Therapeutics (PTCT) and THL Credit, Inc. (TCRD), and on the Board of Overseers of the Tuck School of Business at Dartmouth College. He holds an MBA from the Tuck School, and a BA from Rice University.
“I am excited to be joining Inotek at this time of significant upcoming value inflection points” said Mr. Southwell. “The Company’s lead product, trabodenoson, is a novel A1 adenosine mimetic for the treatment of glaucoma poised to move into Phase 3 clinical trials following the results from the multi-dose Phase 2 trial to evaluate the intraocular pressure (IOP) lowering effect of trabodensoson in combination with the prostaglandin analog latanoprost later this year. To date, trabodensoson has shown an excellent safety and efficacy profile in the clinic and is a promising candidate for glaucoma patients. I’m looking forward to joining a leadership team that I have successfully worked with in the past so that we may advance trabodenoson through the clinic and toward marketing approval.”
Trabodenoson is currently in a multi-dose Phase 2 trial to evaluate the intraocular pressure (IOP) lowering effect of the drug in combination with the prostaglandin analog latanoprost, compared to latanoprost and timolol, the current standard of care for combination therapy in glaucoma. This study will provide the basis for development of a fixed-dose combination product of trabodenoson with a prostaglandin analog.
Inotek Pharmaceuticals is a clinical-stage biotechnology company focused on the discovery and development of innovative drugs to address serious diseases of the eye. Inotek scientists are focused on the identification and development of drug candidates with the potential to treat diseases including glaucoma, ocular hypertension, and other optic nerve neuropathies.
For additional information on Inotek Pharmaceuticals Inc., please visit http://www.inotekcorp.com/.
Source: Inotek Pharmaceuticals
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