LEXINGTON, Mass., July 27, 2021 /PRNewswire/ -- Pulmatrix,
Inc. (NASDAQ: PULM), a clinical-stage biopharmaceutical
company developing innovative inhaled therapies to address serious
pulmonary and non-pulmonary disease using its patented iSPERSE™
technology, today announced the appointment of Anand Varadan
to its Board of Directors, effective July 26, 2021. Mr.
Varadan brings expertise in commercialization and successful
product launches. In addition, Mark
Iwicki stepped down from his role on the Board of Directors
effective July 23, 2021.
"We are delighted to welcome Anand to the Pulmatrix Board," said
Ted Raad, Chief Executive Officer of
Pulmatrix. "Anand is a recognized leader in the biotech industry
and his extensive experience in corporate strategy and
commercialization will be invaluable to Pulmatrix's future growth
and success. I look forward to Anand's guidance as we execute on
our vision to bring iSPERSE enabled inhaled therapies to patients
with a broad range of large market indications. I'd also like to
thank Mark for his invaluable contributions to Pulmatrix during his
time on the Board."
Mr. Varadan currently serves as an Executive Vice President,
Chief Commercial Officer at Chiasma (NYSE: CHMA), a clinical,
late-stage biopharmaceutical company, where he leads commercial
strategy and operations. Mr. Varadan previously served as Chiasma's
strategic advisors, and earlier as Chiasma's Chief Commercial
Officer. Before joining Chiasma, Mr. Varadan served as Executive
Vice President, Chief Commercial Officer of Karyopharm
Therapeutics, Inc, an oncology-focused pharmaceutical company,
where he led a successful launch of Xpovio for multiple myeloma.
Mr. Varadan also provides commercial and strategic consultancy
services through his consulting firm, Ignition Insights, LLC.
Earlier in his career, Mr. Varadan held management and commercial
leadership roles at Amgen Inc., a biopharmaceutical company, in the
U.S., E.U., and Canada including
Vice President, Inflammation and Nephrology Business Unit. Prior to
Amgen, Mr. Varadan was a brand manager at Procter and Gamble
Company.
Mr. Vardan added, "I am excited about joining the Pulmatrix
Board at such an exciting time in the Company's evolution as they
expand to non-respiratory indications. I look forward to
contributing to Pulmatrix's mission to advance and commercialize
their differentiated iSPERSE pipeline, collaborating with
management and fellow Board members."
About Pulmatrix
Pulmatrix is a clinical stage
biopharmaceutical company developing innovative inhaled therapies
to address serious pulmonary and non-pulmonary disease using its
patented iSPERSE™ technology. The Company's proprietary product
pipeline includes treatments for serious lung diseases such as
allergic bronchopulmonary aspergillosis ("ABPA"), COPD, and
neurologic disorders such as acute migraine. Pulmatrix's product
candidates are based on iSPERSE™, its proprietary engineered dry
powder delivery platform, which seeks to improve therapeutic
delivery to the lungs by maximizing local concentrations and
reducing systemic side effects to improve patient outcomes.
FORWARD-LOOKING STATEMENTS
Certain statements in this
press release that are forward-looking and not statements of
historical fact are forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include, but
are not limited to, statements of historical fact, and may be
identified by words such as "anticipates," "assumes," "believes,"
"can," "could," "estimates," "expects," "forecasts," "guides,"
"intends," "is confident that", "may," "plans," "seeks,"
"projects," "targets," and "would," and their opposites and similar
expressions are intended to identify forward-looking statements.
Such forward-looking statements are based on the beliefs of
management as well as assumptions made by and information currently
available to management. Actual results could differ materially
from those contemplated by the forward-looking statements as a
result of certain factors, including, but not limited to, the
impact of the novel coronavirus (COVID-19) on the Company's ongoing
and planned clinical trials; the geographic, social and economic
impact of COVID-19 on the Company's ability to conduct its business
and raise capital in the future when needed; delays in planned
clinical trials; the ability to establish that potential products
are efficacious or safe in preclinical or clinical trials; the
ability to establish or maintain collaborations on the development
of therapeutic candidates; the ability to obtain appropriate or
necessary governmental approvals to market potential products; the
ability to obtain future funding for developmental products and
working capital and to obtain such funding on commercially
reasonable terms; the Company's ability to manufacture product
candidates on a commercial scale or in collaborations with third
parties; changes in the size and nature of competitors; the ability
to retain key executives and scientists; the ability to secure and
enforce legal rights related to the Company's products, including
patent protection; and the outcome of the Company's dispute with
Cipla regarding the continued development of Pulmazole. A
discussion of these and other factors, including risks and
uncertainties with respect to the Company, is set forth in the
Company's filings with the SEC, including its most recent annual
report on Form 10-K, as amended, as may be supplemented or amended
by the Company's Quarterly Reports on Form 10-Q. The Company
disclaims any intention or obligation to revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Investor Contact
Timothy McCarthy, CFA
212.915.2564
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SOURCE Pulmatrix, Inc.