Healthcare Industry News: Triferic
News Release - December 10, 2018
Rockwell Medical, Inc. Appoints New Vice President, OperationsCompletes Build-Out of Senior Leadership Team by Stuart Paul
WIXOM, Mich., Dec. 10, 2018 -- (Healthcare Sales & Marketing Network) -- Rockwell Medical, Inc. (NASDAQ: RMTI) (the "Company" or "Rockwell Medical") today announced that Michael DeYoung has been appointed Vice President, Operations, effective immediately. Mr. DeYoung will report to Stuart Paul, President and Chief Executive Officer of the Company. As Vice President, Operations, Mr. DeYoung will be responsible for leading Rockwell Medical's newly formed Operations Team, in addition to overseeing manufacturing operations, logistics and company-wide strategy deployment. Within these areas, Mr. DeYoung will oversee key initiatives that support the launch of Triferic® in the U.S. and globally.
Mr. DeYoung joins Rockwell Medical from ZDHF Holdings, LLC, a storage and logistics firm, where he served as Chief Financial Officer. Previously, he held the role of Group Director of the Moog Medical Device Group of Moog Inc., where he was responsible for finance, human resources and IT operations and played a key role in the turnaround of the division. From 2008 to 2013, Mr. DeYoung worked at Gambro AB, a global medical technology and pharmaceutical company and leader in dialysis products, where he led operational initiatives contributing to the successful exit and sale of the company to Baxter International. Following the sale of Gambro AB to Baxter in 2013, Mr. DeYoung served as Director of Integration and Business Operations and was responsible for the full integration of the Baxter and Gambro renal operations in Latin America. He spent the early part of his career at IMI Norgren, a world leader in motion and fluid control technologies, where he held various roles in manufacturing, project management, finance and business controls. Mr. DeYoung holds a Bachelor's Degree in Business Management, General Business from Western Michigan University and a Master's Degree in Accounting from Walsh College.
Mr. Paul stated, "Mike's breadth of experience in operational leadership and strategic program management make him ideally suited to contribute to Rockwell Medical as we work to position our resources most efficiently and execute against our goals, including our planned commercial launch of Dialysate Triferic in the U.S. in the first half of 2019. Mike has a proven track record of driving value and delivering results, and I am confident that he has the expertise necessary to oversee and improve operations."
Mr. Paul continued, "One of my priorities since joining Rockwell Medical was to further build-out the senior management team and I am pleased to announce that with Mike on board, we've now completed the hiring of all critical senior leadership positions. Together, these individuals bring essential business experience, as well as expertise in the renal therapy and specialty pharmaceutical space. I am enthusiastic about the talented team we have assembled."
"I am excited to join Rockwell Medical and to be working alongside the team to best position our valuable assets," said Mr. DeYoung. "I look forward to applying my experience and operational know-how as we focus on achieving our key milestones."
Mr. Paul's appointment as President and CEO of Rockwell Medical became effective on September 4, 2018. Since that time, Mr. Paul has appointed the following individuals to the Rockwell Medical senior leadership team:
- Angus Smith, Chief Financial Officer;
- Jim McCarthy, Senior Vice President, Corporate Business Development;
- Charlie Shiner, Vice President, Marketing;
- Michael DeYoung, Vice President, Operations; and
- Anne Boardman, Vice President, Sales and Strategic Accounts.
Rockwell Medical is a biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD). Rockwell Medical's exclusive renal drug therapies support disease management initiatives to improve the quality of life and care of dialysis patients and are intended to deliver safe and effective therapy, while decreasing drug administration costs and improving patient convenience. Rockwell Medical's anemia drug Triferic is the only FDA-approved product indicated for iron replacement and maintenance of hemoglobin in hemodialysis patients. Rockwell's FDA approved generic drug Calcitriol (active vitamin D) is for treating secondary hyperparathyroidism in patients undergoing chronic renal dialysis. Rockwell Medical is also an established manufacturer, supplier and leader in delivering high-quality hemodialysis concentrates/dialysates (used to maintain human life by removing toxins and replacing critical nutrients in the dialysis patient's bloodstream) to dialysis providers and distributors in the U.S. and abroad. Please visit www.rockwellmed.com for more information.
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws, including, but not limited to, Rockwell's intention to bring to market Triferic, IV Triferic and Calcitriol. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "could," "plan," "potential," "predict," "forecast," "project," "plan", "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Rockwell believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties (including, without limitation, those set forth in Rockwell's SEC filings), many of which are beyond our control and subject to change. Actual results could be materially different. Risks and uncertainties include: statements about the timing and success of our planned NDA submission for IV Triferic; the potential market opportunity for IV Triferic and other Rockwell products; pricing and reimbursement status for IV Triferic, Triferic and other Rockwell products, including eligibility for add-on reimbursement under TDAPA; liquidity and capital resources; expected duration of Rockwell Medical's existing working capital; plans and timing relating to the planned commercialization of Triferic; and timing and success of our efforts to renegotiate economic terms of our concentrate business Rockwell expressly disclaims any obligation to update or alter any statements whether as a result of new information, future events or otherwise, except as required by law.
Source: Rockwell Medical
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