Company Also Announces Management Changes
SAN DIEGO, Dec. 2, 2014 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a biopharmaceutical company advancing innovative medicines in urology and rheumatology, today announced the appointment of Brian T. Dorsey as the Company's Chief Development Officer, a newly established position. Mr. Dorsey brings to Apricus over 20 years of experience in the pharmaceutical industry across early- and late-stage development programs, as well as with marketed products. He will report to Richard Pascoe, Apricus' Chief Executive Officer. His appointment is effective immediately.
"We are pleased to announce the addition of Brian Dorsey, whose broad range of industry experience encompasses pharmaceutical product development, regulatory, quality, and manufacturing functions. Brian's capabilities will be a significant asset to our organization as we continue our efforts to advance our innovative pipeline, which includes fispemifene for the treatment of urological conditions in men and RayVa™ for the treatment of Raynaud's phenomenon secondary to scleroderma," said Mr. Pascoe.
In a related matter, the Company also announced the departures of Edward Cox, Vice President, Commercial Development, and Dr. Susan Meier-Davis, Vice President, Safety.
"We appreciate the many contributions Ed and Susan have made to the Company and wish them success in their future endeavors," added Mr. Pascoe.
Mr. Dorsey stated, "I am excited to become part of the Apricus senior management team at this pivotal juncture for the Company. I look forward to leveraging my expertise in pharmaceutical product development to advance Apricus' innovative pipeline for the treatment of conditions for which there is high un-met medical need."
Mr. Dorsey has served in the Pharmaceutical and Biotechnology industries for over 20 years where he has provided high-level drug development, regulatory and QC/QA leadership of pharmaceutical candidates from early development to FDA approval. He has held various senior management roles with pharmaceutical companies, most recently at Pernix Therapeutics as Senior Vice President Pharmaceutical Development. Prior to this, Mr. Dorsey held managerial positions of increasing responsibility at Somaxon Pharmaceuticals, Baxter Bioscience and Pfizer Global Research and Development. Mr. Dorsey received his Master of Science in Executive Leadership and his B.A. in Chemistry from the University of San Diego.
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. The Company's lead product, Vitaros®, for the treatment of erectile dysfunction, is approved in Europe and Canada and commercialized in several countries in Europe. Apricus' marketing partners for Vitaros include Abbott Laboratories Limited, Takeda Pharmaceuticals International GmbH, Hexal AG (Sandoz), Recordati Ireland Ltd. (Recordati S.p.A.), Bracco S.p.A. and Laboratoires Majorelle. The Company's second-generation Vitaros room temperature device is under development and is expected to enhance the product's commercial value. The Company recently initiated a Phase 2a trial for RayVa™, the Company's product candidate for the treatment of Raynaud's phenomenon. Femprox®, the Company's product candidate for the treatment of female sexual interest/arousal disorder, has successfully completed an approximately 400-subject proof-of-concept study. The Company is currently seeking a strategic partner for Femprox. In October 2014, Apricus gained U.S. development and commercialization rights for fispemifene, a selective estrogen receptor modulator for the treatment of male secondary hypogonadism, chronic prostatitis and lower urinary tract symptoms, in Phase 2 development.
For further information on Apricus, visit http://www.apricusbio.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding the ability of Apricus' management team to successfully carry out planned development programs for fispemifene and RayVa. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including: results of future clinical trials of fispemifene and RayVa; potential adverse side effects or other safety risks associated with fispemifene and RayVa that could delay or preclude approval; the Company's ability to obtain additional financing in order to complete the development and commercialization of its product candidates; the Company's ability to attract and retain senior management and key scientific personnel, which are necessary to successfully carry out planned development and operate the Company's business; and those risks described in the Company's prior press releases and in the periodic reports it files with the Securities and Exchange Commission. The events and circumstances reflected in the Company's forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Except as required by applicable law, the Company does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
CONTACT: Steve Martin
Chief Financial Officer
Institutional Investors: Angeli Kolhatkar
Media: Justin Jackson
Retail Investors: Chris Eddy, David Collins
Apricus Biosciences, Inc.