Radius Adds Industry Veterans Jennifer A. Jarrett and Susan Vissers Lisa to Board of Directors
Further Expands Board’s Expertise and Gender Diversity
Enhances Corporate Governance
BOSTON, May 20, 2022 (GLOBE NEWSWIRE) -- Radius Health, Inc. ("Radius" or the "Company") (Nasdaq: RDUS) today announced that it has added two new independent members to the Board of Directors (the “Board”). Effective immediately, Jennifer A. Jarrett and Susan Vissers Lisa have joined the Board as Class I and Class III directors, respectively. In addition, Radius’ Board also announced several corporate governance changes to further enhance shareholder input.
“I am pleased to welcome both Jennifer and Susie to the Radius Board. Their deep healthcare acumen and extensive operating experience will be invaluable as Radius looks to advance its business on behalf of patients, stakeholders and employees,” said Owen Hughes, Chairman of the Board of Directors. “Their appointments to our Board, as well as the governance enhancements we are announcing today, build on the changes we’ve made over the past 24 months to further align our interests with those of our shareholders.”
The appointments of Ms. Jarrett and Ms. Lisa further expand the Board’s gender diversity and relevant industry expertise, including senior-level experience at large public companies in the life sciences sector. Of the expanded Board’s 10 directors, nine are independent. Six of the Company’s current directors, including Ms. Jarrett and Ms. Lisa, have joined the Board in the past two years, reflecting a deliberate refreshment process across the Company’s leadership.
Corporate Governance Enhancements
In line with corporate governance best practices, the Company’s Board has proposed reducing the vote required to amend the charter and bylaws from a supermajority to a majority of the shares outstanding, subject to approval by Radius’ shareholders at this year’s upcoming Annual Meeting. In addition, the Board has adopted a “proxy access” provision to allow long-term shareholders to nominate directors in the Company’s proxy statement.
Radius is a global biopharmaceutical company focused on addressing unmet medical needs in the areas of bone health, neuroscience diseases, and oncology. Radius’ lead product, TYMLOS® (abaloparatide) injection, was approved by the U.S. Food and Drug Administration for the treatment of postmenopausal women with osteoporosis at high risk for fracture. The Radius clinical pipeline includes investigational abaloparatide injection for potential use in the treatment of men with osteoporosis; an investigational abaloparatide transdermal system for potential use in the treatment of postmenopausal women with osteoporosis; the investigational drug, elacestrant (RAD1901), for potential use in the treatment of hormone-receptor positive breast cancer out-licensed to Menarini Group; and the investigational drug RAD011, a synthetic cannabidiol oral solution with potential utilization in multiple neuro-endocrine, neurodevelopmental, or neuropsychiatric disease areas, initially targeting Prader-Willi syndrome, Angelman syndrome, and infantile spasms.
Radius, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from stockholders in connection with the matters to be considered at the 2022 Annual Meeting. The Company intends to file a proxy statement and BLUE proxy card with the SEC in connection with any such solicitation of proxies from stockholders. STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND ACCOMPANYING BLUE PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Information regarding the ownership of the Company’s directors and executive officers in Company stock and other securities is included in their SEC filings on Forms 3, 4, and 5, which can be found through the Company’s website (www.radiuspharm.com) in the section “Investors” or through the SEC’s website at www.sec.gov. Additional information about Radius’ directors and executive officers and their interests is set forth in Radius’ Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on February 24, 2022, as amended on May 2, 2022; Radius’ Quarterly Report on Form 10-Q for the fiscal period ended March 31, 2022 which was filed with the SEC on May 5, 2022; and in the Company’s other SEC filings, which can be found through the Company’s website (www.radiuspharm.com) in the section “Investors” or through the SEC’s website at www.sec.gov. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the 2022 Annual Meeting. Stockholders will be able to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC for no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company’s website at www.radiuspharm.com.
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