RICHMOND, Va., March 22 /PRNewswire-FirstCall/ -- Insmed Inc.
(Nasdaq: INSM), a biopharmaceutical company, today announced that
Nicholas A. LaBella Jr., MS, RPh,
has joined Insmed, effective immediately, as Chief Scientific
Officer, a newly-created position on the executive team. Mr.
LaBella's primary responsibility will be to oversee the scientific
and regulatory analysis related to the Company's ongoing strategic
review. He will report directly to Dr. Melvin Sharoky, Insmed's Chairman.
Mr. LaBella, 54, has approximately 30 years of pharmaceutical
industry experience in various functions, including drug
development, clinical operations and regulatory affairs. Most
recently, Mr. LaBella served as the Vice President of Development
and Regulatory Affairs at Cardiokine, Inc., a privately-held
specialty pharmaceutical company, from 2004-2009. In this
position, he played a key role in the design, execution,
management, and positioning of the development program for the
company's sole product candidate. Prior to this, he served as
Vice President, Operations, in the Phase IV Division of PharmaNet,
a global drug development services company, from 2001-2004.
In this capacity, Mr. LaBella led the Phase IV Clinical
Research staff in the design, development and execution of certain
Phase IV clinical studies. From 1997-2001, he served in
increasingly senior positions, ending with Chief Information
Officer in charge of operations, at Medex Clinical Trial Services,
a full-service contract research organization that was acquired by
PharmaNet in 2001. In this role, he managed all operational
aspects of the company, and led a staff of over 180 clinical trial
personnel.
In addition, Mr. LaBella has held a number of senior-level
positions within drug development and regulatory affairs at several
other leading pharmaceutical companies, including Watson
Laboratories, Inc. and the former Sandoz Research Institute.
"Nick's extensive track record in drug development, clinical
operations and regulatory affairs should significantly benefit our
strategic review process," said Dr. Melvin
Sharoky, Insmed's Chairman. "Nick recently served as a
scientific consultant to Insmed and his counsel has been
instrumental in our scientific evaluations. As we continue
our review of late-stage development assets, adding Nick to the
internal management team should further streamline the review
process and add greater efficiency to the scientific and regulatory
analysis of each asset."
"I am pleased to be joining the Insmed management team and look
forward to significantly contributing to the strategic review,"
said Mr. LaBella.
Mr. LaBella received his Masters of Science from the Arnold
& Marie Schwartz College of
Pharmacy at Long Island
University, and his Bachelor of Science in Pharmacy at the
University of Connecticut. He has
co-authored a variety of published scientific papers in leading
journals, including US Pharmacist, and American Journal
of Hospital Pharmacy.
About Insmed
Insmed Inc. is a biopharmaceutical company with unique protein
development experience and a proprietary protein platform
principally aimed at niche markets with unmet medical needs.
For more information, please visit http://www.insmed.com.
Forward-Looking Statements
This release contains forward-looking statements which are made
pursuant to provisions of Section 21E of the Securities Exchange
Act of 1934. Investors are cautioned that such statements in this
release, including statements relating to business strategies,
plans and objectives of management and our strategic review
process, constitute forward-looking statements which involve risks
and uncertainties that could cause actual results to differ
materially from those anticipated by the forward-looking
statements. The risks and uncertainties include, without
limitation, we may be unsuccessful in identifying or reaching
agreement with acquisition or merger candidates' our expenses may
be higher than anticipated and other risks and challenges detailed
in our filings with the U.S. Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended
December 31, 2009. Readers are
cautioned not to place undue reliance on any forward-looking
statements which speak only as of the date of this release.
We undertake no obligation to publicly release the results of
any revisions to these forward-looking statements that may be made
to reflect events or circumstances that occur after the date of
this release or to reflect the occurrence of unanticipated
events.
Investor Relations Contact:
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Brian Ritchie - FD
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212-850-5683
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brian.ritchie@fd.com
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Media Relations Contact:
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Irma Gomez-Dib - FD
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212-850-5761
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irma.gomez-dib@fd.com
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SOURCE Insmed Inc.