Healthcare Industry News: AVANIR Pharmaceuticals
News Release - September 22, 2015
OticPharma Announces Key Additions to the Senior Management TeamChristine G. Ocampo named Senior Vice President and Chief Financial Officer
Michael Cruse named Vice President of Corporate Operations
IRVINE, Calif. and REHOVOT, Israel, Sept. 22, 2015 -- (Healthcare Sales & Marketing Network) -- OticPharma, Ltd., a privately held company focused on acquiring and developing innovative therapies for ear, nose, and throat (ENT) disorders, today announced two new additions to the company's leadership team. Christine G. Ocampo joins OticPharma as senior vice president and chief financial officer. Michael Cruse also joins OticPharma as vice president of corporate operations.
"We are extremely delighted to have these two highly accomplished life science professionals join the OticPharma team," said Gregory J. Flesher, chief executive officer for OticPharma, Ltd. "Christine brings more than 20 years of accounting and finance experience and has successfully led finance organizations of both public pharmaceutical and medical device companies. Mike brings extensive experience in corporate operations and has successfully led pharmaceutical company restructuring, expansion, and integration projects."
Ms. Ocampo is responsible for leading OticPharma's accounting, corporate finance, human resources, and compliance functions. Prior to joining the company, she was vice president of finance and chief accounting officer for AVANIR Pharmaceuticals, Inc. Prior to Avanir, she was senior vice president and chief financial officer for medical device maker Cardiogenesis Corporation. Ms. Ocampo began her career in finance as an auditor at Ernst & Young, LLP.
Mr. Cruse is responsible for leading OticPharma's information technology/systems, facilities, and project management functions and will provide support for ongoing business development activities. Prior to joining the company, he held roles as executive director of commercial operations and executive director of corporate operations for AVANIR Pharmaceuticals, Inc. Prior to Avanir, Mr. Cruse was a senior consultant for Noesis Consulting Group.
OticPharma, established in 2008, is a clinical-stage company active in the field of ear, nose, and throat disorders. The company's current product candidates are based on FoamOtic, a proprietary foam-based drug delivery system that provides sustained exposure of drugs.
Otic's lead product, FoamOtic Externa, is an investigational proprietary, foam-based, extended-release formulation of ciprofloxacin antibiotic, which has been designated for self-administration, once-daily to potentially treat acute otitis externa (AOE) in minor and adult patients. The company recently completed a successful Phase 2 clinical trial with FoamOtic Externa in minor and adult patients with AOE and is currently planning the Phase 3 program.
AOE or "swimmer's ear" is a generalized inflammation of the epithelium of the external ear canal which may also involve the pinna and/or the tympanic membrane. It is variably characterized by erythema, edema, increased sebum or exudates, and desquamation of the epithelium. AOE is a common, worldwide otologic problem occurring in humans mainly during hot and humid weather. The vast majority of the cases of AOE are due to bacterial infections. The common treatment of AOE consists of topical antibiotics, with or without steroids, analgesia and water avoidance. Otic preparations are generally supplied in the form of liquid ear drops which are administered multiple times per day. There are approximately 2.5 million cases of AOE per year in the United States.
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