Healthcare Industry News: OXAYDO
News Release - October 5, 2015
Egalet Appoints Mark Strobeck, Ph.D. to Executive Vice President and Chief Operating OfficerWAYNE, Pa., Oct. 5, 2015 -- (Healthcare Sales & Marketing Network) -- Egalet Corporation (EGLT) ("Egalet"), a fully integrated specialty pharmaceutical company focused on discovering, developing and commercializing innovative pain treatments, announced the promotion of Mark Strobeck, Ph.D., to executive vice president and chief operating officer (COO). In his new role, Dr. Strobeck will be responsible for managing operations and will continue to report to Bob Radie, president and chief executive officer.
"Since joining Egalet, Mark has made substantial contributions to the growth of Egalet," said Bob Radie, president and chief executive officer of Egalet. "With his industry experience and leadership skills, Mark will play a critical role as COO as we continue to grow and transform the company."
Dr. Strobeck joined Egalet in February of 2014 as chief business officer (CBO). Prior to Egalet he served as president, chief executive officer and director of Corridor Pharmaceuticals, Inc., a drug discovery company that was sold to AstraZeneca. Before that he was CBO of Topaz Pharmaceuticals Inc., a specialty pharmaceutical company that was sold to Sanofi Pasteur. Prior to Topaz he held executive leadership and business development positions at Trevena, Inc. and GlaxoSmithKline (GSK). Before working at these healthcare companies, Dr. Strobeck was a venture capitalist at SR One Ltd., the wholly owned venture capital arm of GSK and Euclid SR Partners. He earned a Ph.D. in pharmacology and cell biophysics from the University of Cincinnati, completed a post-doctoral fellowship in cardiovascular medicine at the University of Pennsylvania and received his bachelor's degree from St. Lawrence University.
Egalet, a fully integrated specialty pharmaceutical company, is focused on developing, manufacturing and commercializing innovative pain treatments. The Company has two approved products: OXAYDO™ (oxycodone HCI, USP) tablets for oral use only –CII and SPRIX® (ketorolac tromethamine) Nasal Spray. In addition, using Egalet's proprietary Guardian™ Technology, the Company is developing a pipeline of clinical-stage, opioid-based product candidates that are specifically designed to deter abuse by physical and chemical manipulation. The lead programs, ARYMO®, formerly known as Egalet-001, an abuse-deterrent, extended-release, oral morphine formulation, and Egalet-002, an abuse-deterrent, extended-release, oral oxycodone formulation, are in late-stage clinical development for the management of pain severe enough to require daily, around-the-clock opioid treatment and for which alternative treatments are inadequate. Egalet's Guardian Technology can be applied broadly across different classes of pharmaceutical products and can be used to develop combination products that include multiple active pharmaceutical ingredients with similar or different release profiles. Full additional information on Egalet, please visit egalet.com. For full prescribing information on SPRIX, please visit sprix.com and for OXAYDO please visit OXAYDO.com. For full prescribing information on SPRIX, including the black box warning, please visit sprix.com. For full prescribing information on OXAYDO, please visit OXAYDO.com.
Safe Harbor Statements included in this press release (including but not limited to upcoming milestones) that are not historical in nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations, and are subject to known and unknown uncertainties and risks. Actual results could differ materially from those discussed due to a number of factors, including, but not limited to: the success of Egalet's clinical trials, including the timely recruitment of trial subjects and meeting the timelines therefor; Egalet's ability to obtain regulatory approval of Egalet's product candidates; Egalet's ability to maintain the intellectual property position of Egalet's products and product candidates; Egalet's ability to identify and reliance upon qualified third parties to manufacture its products; Egalet's ability to service its debt obligations; Egalet's ability to find and hire qualified sales professionals; the receptivity in the marketplace and among physicians to Egalet's products; the success of products which compete with Egalet's that are or become available; general market conditions; and other risk factors described in Egalet's filings with the United States Securities and Exchange Commission. Egalet assumes no obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by law.
Source: Egalet Corporation
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