Company Also Announces Additional Senior Management Change
SAN DIEGO, Dec. 15, 2014 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a biopharmaceutical company advancing innovative medicines in urology and rheumatology, today announced the appointment of Barbara Troupin, M.D., as the Company's Chief Medical Officer. Dr. Troupin brings to Apricus over 15 years of experience in the areas of pharmaceutical clinical development and medical affairs. She will report to Richard Pascoe, Apricus' Chief Executive Officer, and her appointment is effective immediately.
"We are pleased to have Barbara join the Apricus team during this pivotal time in our Company's evolution. Her successful record of accomplishment in advancing novel medications through clinical development and the regulatory process, as well as her strong reputation with the investment community, will be key as we seek to execute on our growth strategy in 2015 and beyond. Barbara will be responsible for advancing our development stage pipeline to include fispemifene for the treatment of urological conditions in men, and RayVa™ for the treatment of Raynaud's phenomenon secondary to scleroderma, as these product candidates progress through late-stage clinical trials," said Mr. Pascoe.
Dr. Troupin stated, "I am very excited to be joining the Apricus senior management team at this important time of clinical development for the Company's two novel lead product candidates, RayVa and fispemifene. I look forward to leading the effort to successfully develop these products and shepherding them through the FDA review process for the benefit of patients, and the clinicians who treat them, in these areas of unmet medical need."
Since 2006, Dr. Troupin has held various senior management roles with VIVUS, Inc. in the areas of Medical Affairs and Clinical Development. In these roles, Dr. Troupin was the clinician lead for the Phase 3 program for Qsymia, as well as the lead contributor for all medical review of the Qsymia New Drug Application and was the lead medical presenter at the successful Qsymia FDA Advisory Committee Meeting. Prior to this, Dr. Troupin held Medical Director positions at the Profil Institute for Clinical Research and Radiant Research, both contract research organizations. Dr. Troupin received her M.D. from the University of Pennsylvania School of Medicine and her M.B.A. from the Wharton School of Business.
In a related matter, the Company also announced the departure of Mr. Steve Martin, Senior Vice President, Chief Financial Officer and Secretary, who will leave the Company to pursue another opportunity. His departure is not related to any issues regarding financial disclosures, accounting or legal matters. Furthermore, in light of planned organizational changes designed to best meet Apricus' financial accounting needs as a development-stage company, the Company does not intend to fill Mr. Martin's positions at this time.
"We appreciate the many contributions that Steve has made to the Company over the years and wish him all the best in his future endeavors," added Mr. Pascoe.
Mr. Martin noted, "It has been a privilege to have served as Apricus' CFO over this recent transformational period. The Company has an exceptional management team and world-class employees, and I leave with the highest regard for them and Apricus."
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. Apricus' 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. Apricus' second-generation Vitaros room temperature device is under development and is expected to enhance the product's commercial value. Apricus recently commenced a Phase 2a trial for RayVa™, Apricus' product candidate for the treatment of Raynaud's phenomenon. Femprox®, Apricus' product candidate for the treatment of female sexual interest/arousal disorder, has successfully completed an approximately 400-subject proof-of-concept study. Apricus 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: Institutional Investors: Angeli Kolhatkar
Media: Justin Jackson
Retail Investors: Chris Eddy, David Collins
Apricus Biosciences, Inc.