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Atlantic Healthcare Appoints New Commercial and Business Development Functions in U.S.Atlantic Healthcare plc, an international specialty pharma company focusing on gastrointestinal disorders, today announces it has established U.S. commercial and business development operations and a facility to focus on the expansion and commercialisation of the Atlantic Healthcare product portfolio and pipeline. The key management appointments include Sireesh Appajosyula, VP Product Commercialisation; Jonathan Drutz, VP Corporate & Business Development; and Jordan Zwick, Director of Corporate & Business Development, who will operate out of Atlantic Healthcare's new office in Research Triangle Park, North Carolina. "Establishing this commercial team is a critical component in Atlantic Healthcare's plan to become a profitable, transatlantic, gastrointestinal (GI) specialty pharma company," said Toby Wilson Waterworth, CEO of Atlantic Healthcare. "Bringing business development and commercial strategy functions to our U.S. business gives Atlantic the expertise to identify late-stage and marketed assets for acquisition or in-licensing to build our product portfolio, which already includes the development of alicaforsen for the treatment of IBD, currently in a pivotal Phase 3 clinical trial for the treatment of antibiotic-resistant pouchitis. With key commercial management now on board we have the expertise and experience of launching and marketing GI products into the U.S. and Europe in advance of the approval of alicaforsen." Dr. Lorin K Johnson, founder of Salix Pharmaceuticals, and Atlantic Healthcare's Chief Scientific Advisor and Board of Directors member added: "Since joining Atlantic's Board of Directors in April of last year I have confirmed my belief that alicaforsen is an outstanding product, with the potential of transforming the Company into an international gastrointestinal specialty pharma company. I have worked previously with Atlantic's new U.S. management team at Salix where, with other colleagues, we established the #1 GI commercial team in the U.S. for four out of the five years prior to our acquisition. I have no doubt that these first appointments will lead to building another top commercial organisation." Sireesh Appajosyula, joins the Company from Salix Pharmaceuticals, where he led the commercial strategy for the Inflammatory Bowel Disease (IBD) division of the company. His primary role on joining Atlantic Healthcare is to head the commercial strategy for the Company's lead product, alicaforsen, in the U.S. and support in Europe. Within Salix, Sireesh also led the U.S. Medical Science Liaisons for all Salix products, including orphan indications. Sireesh holds a Doctor of Pharmacy degree from Rutgers University. Jordan Zwick is also a former mmber of the Salix team, and will work alongside Sireesh assisting with the U.S. launch activities for alicaforsen. He earned his BA and MS in economics from Florida Atlantic University and has an MBA from the University of San Francisco. Most recently Jordan was at Chimerix, leading business development and corporate strategy. Jordan also brings experience of product launches through his role at Medtronic. Part of his position at Atlantic Healthcare will also be to work alongside Jonathan Drutz, in the analysis of new business development opportunities. Jonathan Drutz has been involved in numerous life science ventures as a business development executive, investor and consultant. At Atlantic Healthcare, Jonathan will generate high quality business development leads for in-licensing, in order to support the growth of the Company beyond alicaforsen. Jonathan will also be involved in maximizing the value of alicaforsen in North America, Japan and other regions. Jonathan has a BA from Villanova University in the U.S. and a PGCert in Nanotechnology from the University of Oxford, UK. Notes to Editors: About Atlantic Healthcare plc (www.atlantichc.com) Atlantic Healthcare is an international specialty pharmaceutical company focussed on gastro-intestinal diseases including Inflammatory Bowel Disease (IBD). The Company's lead product is alicaforsen enema, in Phase 3 development for Pouchitis, and in preparation for Phase 3 clinical development for Ulcerative Colitis. Alicaforsen is also generating early repeat revenues in Europe through Named Patient Supply protocols. The Company has FDA and EMA (News - Alert) orphan designation, and an FDA letter of fast-track in Pouchitis. Atlantic Healthcare has a highly committed investor base, and an experienced international management team. Atlantic fundraising to date includes £1.9m through SBRI funding with InnovateUK, the UK Government's innovation agency (www.inovateuk.gov.uk), and in Q1 2016 raised $24m through the founders of Salix and Clinigen, with LDC (the private equity division of Lloyd's Banking Group). About Alicaforsen Alicaforsen enema is currently in a Phase 3 trial agreed with U.S., Canadian and European regulatory agencies in patients with active, chronic Pouchitis. The trial is recruiting 138 patients to 40 trial centres across the U.S., Canada, Europe and Israel. Alicaforsen is an antisense oligonucleotide with a novel mode of action for treatment of inflammatory bowel disease (IBD). Alicaforsen is targeted to ICAM-1, a cell-surface protein which is involved in the inflammatory response and over-expressed in patients with inflammatory disease. Originally developed as an IV formulation for Crohn's disease, alicaforsen enema is being developed as a locally active topical formulation which has demonstrated, in five Phase 2 clinical studies involving 377 patients, an ability to reduce inflammation and promote mucosal healing with good tolerability and a durable effect. Alicaforsen enema has commenced Phase 3 for Pouchitis and is ready to commence Phase 3 for active distal UC. There is currently no approved treatment for Pouchitis in the U.S. or Europe and there are limited treatment options for UC, alicaforsen enema therefore has the potential to establish a new class of therapy with clear differentiating features. Alicaforsen in Pouchitis has FDA fast track plus U.S. and European orphan drug designations. Alicaforsen is generating early revenues in Europe through Named Patient Supply protocols. This has demonstrated further evidence of efficacy and safety in the Pouchitis[1] and UC indications [2]. References: 1. Alicaforsen, an antisense inhibitor of ICAM-1, as treatment for chronic refractory pouchitis after proctocolectomy: A case series. Thomas Greuter, Luc Biedermann, Gerhard Rogler, Bernhard Sauter and Frank Seibold. UEG Journal (2015) DOI: 10.1177/2050640615593681. 2. Alicaforsen Retention Enema Induces Long-Term Remission in Patients with Ulcerative Colitis. Zaid Heetun, David Gibson, Denise Keegan, Kathryn Byrne, Hugh E Mulcahy, Garret Cullen, Glen A Doherty. Irish Soc Gastroenterol Nov 2014 - ENDS - View source version on businesswire.com: http://www.businesswire.com/news/home/20160526005517/en/ |
