MONMOUTH JUNCTION, N.J.,
Aug. 6, 2012 /PRNewswire/
-- Insmed Incorporated (Nasdaq CM: INSM), a biopharmaceutical
company focused on developing inhaled therapeutics for serious
diseases of the lung, today announced the election of Al Altomari to its Board of Directors, effective
immediately. Insmed's Board of Directors now consists of
seven members, five of whom are non-executives.
"Al brings to our Board nearly 30 years of valuable experience
in the pharmaceutical industry, including more than 20 years
focused on the development and marketing of specialty
pharmaceutical products," said Donald J.
Hayden, Insmed's Executive Chairman. "We believe his
expertise in these areas will be instrumental as we continue to
execute on our development plan for ARIKACE®."
Since October 2010, Mr. Altomari
has served as President and Chief Executive Officer of Agile
Therapeutics, a privately-held pharmaceutical company specializing
in women's healthcare products, where he is also a member of the
company's Board of Directors. Mr. Altomari is leading Agile
through the final stages of development and commercialization of
contraceptive products using the company's proprietary transdermal
technology. In July of 2012, Agile completed a $40 million investment round. Prior to
being named President and CEO, he served as Agile's Executive
Chairman, during which time he closed a $45 million investment round in May 2010.
Before joining Agile, Mr. Altomari held multiple senior
management positions over a five year period at Barrier
Therapeutics. During his tenure with Barrier, he put in place
the company's commercial infrastructure and all sales and marketing
functions for Barrier's product portfolio, and oversaw management
of all worldwide business development initiatives. In 2008,
in his role as Chief Executive Officer, and as a member of the
company's Board of Directors, Mr. Altomari completed the successful
sale of the company to GlaxoSmithKline/Stiefel Laboratories.
Prior to joining Barrier, Mr. Altomari held numerous executive
roles in general management, commercial operations, business
development, product launch preparation, and finance with Johnson
& Johnson from 1982 to 2003. He completed his tenure with
Johnson & Johnson as General Manager of Ortho Neutrogena, where
he successfully led the integration of Ortho Dermatological and
Neutrogena Professional. Mr. Altomari also served as Vice
President/Franchise Head of Ortho-McNeil Pharmaceutical's Women's
Health Care Franchise, where he introduced several life cycle and
new product development initiatives, including the launch of the
contraceptive patch, ORTHO Evra™.
Mr. Altomari currently serves as a member of the Boards of
Directors of DUSA Pharmaceuticals and Nitric Bio
Therapeutics. In July 2007, he
was recognized by PharmaVoice Magazine as one of the Top
100 Most Inspirational and Influential leaders in the Life Sciences
Industry. He received a Masters in Business
Administration from Rider University
and his Bachelor of Science from Drexel University. Mr.
Altomari also serves on the advisory board for Le Bow College, Drexel
University's business school.
"With top-line data for ARIKACE in the Company's lead orphan
indications, cystic fibrosis-related Pseudomonas lung
infections and non-TB Mycobacteria lung infections, expected in
2013, this is an exciting time to be joining Insmed's Board," said
Mr. Altomari. "I look forward to lending my specialty
pharmaceutical development and marketing expertise to the Company's
Board and management team."
About Insmed
Insmed Incorporated is a biopharmaceutical company dedicated to
the development of innovative inhaled pharmaceuticals for the
treatment of serious lung infections, with a particular focus on
orphan diseases. Insmed's core expertise is the development
of inhaled antibiotic therapy delivered via proprietary advanced
liposomal pulmonary technology. 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 the timing of data from our clinical trials and the impact of
Mr. Altomari's service on our board of directors, 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. Our results
may be affected by such factors as the receipt and timing of U.S.
Food and Drug Administration and other regulatory reviews and
approvals, if at all, competitive developments affecting our
product development, delays in product development or clinical
trials, and patent disputes involving currently developing
products. The risks and uncertainties include, without
limitation, we may experience unexpected regulatory actions, delays
or requests, our future clinical trials may not be successful, we
may be unsuccessful in developing our product candidates or
receiving necessary regulatory approvals, we may experience delays
in our product development or clinical trials, our product
candidates may not prove to be commercially successful, 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, 2011 and
our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2012. Investors 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:
Brian Ritchie – FTI
Consulting
212-850-5683
brian.ritchie@fticonsulting.com
Media Contact:
Irma Gomez-Dib – FTI Consulting
212-850-5761
irma.gomez-dib@fticonsulting.com
SOURCE Insmed Incorporated