Insmed Appoints David W.J. McGirr to Its Board of Directors
01 Novembre 2013 - 1:00PM
Marketwired
Insmed Appoints David W.J. McGirr to Its Board of Directors
Financial Executive Brings More Than 30 Years of Financial and
Industry Experience
MONMOUTH JUNCTION, NJ--(Marketwired - Nov 1, 2013) - Insmed
Incorporated (NASDAQ: INSM), a biopharmaceutical company focused on
developing an inhaled anti-infective to treat patients battling
serious lung diseases in orphan indications that are often
life-threatening, today announced the appointment of David W.J.
McGirr to its Board of Directors. Mr. McGirr, former Chief
Financial Officer of Cubist Pharmaceuticals, Inc. will also
serve as the Chairman of Insmed's Audit Committee.
Mr. McGirr has more than 30 years of experience as a senior
financial executive including the past 11 years at Cubist, a
biopharmaceutical company focused on the research, development, and
commercialization of pharmaceutical products that address
significant unmet medical needs in the acute care environment,
primarily for the treatment of infectious diseases. During his
tenure at Cubist, the company secured a number of product approvals
and launched these products across multiple markets.
In conjunction with Mr. McGirr's appointment, the Board accepted
Richard Kollender's resignation from the Board and as Chairman of
the Audit Committee. As a result, the Insmed Board will continue to
consist of seven directors, six of whom are independent.
"We are delighted to welcome David to the Insmed Board. He
brings a unique combination of skills, including public company and
board experience, capital markets insight and significant expertise
in the healthcare sector, specifically with infectious diseases.
His background is ideally suited to help guide the Insmed team in
building a commercial biopharmaceutical company with a franchise of
novel therapies at the intersection of orphan, pulmonary, and
infectious diseases," stated Donald J. Hayden, Jr., Chairman of the
Board of Insmed. "We would also like to thank Rich Kollender, who
served as our Chair of the Audit Committee, for his many years of
valuable service to our company. Rich was an integral member of the
team that helped navigate ARIKACE® through its earlier stages of
development and he played a key role in its acquisition by
Insmed."
In accepting this appointment Mr. McGirr stated, "This is an
exciting time to be joining Insmed as the company is transitioning
to a commercial entity. Insmed has valuable, late-stage clinical
assets, an experienced senior leadership team, a strong financial
position and a sound business plan. I look forward to working with
the Insmed Board and management to further the company's strategic
objectives to become an industry leader."
Prior to his current role as Senior Advisor to the CEO of
Cubist, Mr. McGirr served as the company's Senior Vice President
and CFO for more than ten years. Before this, Mr. McGirr was a
private equity investor and served in various positions within the
S.G. Warburg Group, ultimately as CFO, Chief Administrative Officer
and Managing Director of S.G. Warburg & Co., Inc. Mr. McGirr is
a member of the Board of Directors of Relypsa, Inc., a Redwood
City, California-based biotechnology company, where he also serves
as Chairman of the Audit Committee. Mr. McGirr received a B.Sc.
(First Class Honors) in Civil Engineering from the University of
Glasgow and an MBA from The Wharton School at the University of
Pennsylvania.
About Insmed Insmed Incorporated is a biopharmaceutical company
dedicated to improving the lives of patients battling serious lung
diseases. Insmed is focused on the development and
commercialization of ARIKACE®, or liposomal amikacin for
inhalation, for at least two identified orphan patient populations:
cystic fibrosis (CF) patients with Pseudomonas
aeruginosa lung infections and patients with
non-tuberculous mycobacteria (NTM) lung infections. For more
information, please visit http://www.insmed.com.
Forward-looking Statements This release contains forward-looking
statements. Words, and variations of words, such as "intend,"
"expect," "will," "anticipate," "believe," "continue," "propose"
and similar expressions are intended to identify forward-looking
statements. Investors are cautioned that such statements in this
release, including statements relating to the status, results and
timing of clinical trials and clinical data, the anticipated
benefits of Insmed's products, the anticipated timing of regulatory
submissions, and the ability to obtain required regulatory
approvals, bring products to market and successfully commercialize
products constitute forward-looking statements that involve risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such risks
and uncertainties include, without limitation, failure or delay of
European, Canadian, U.S. Food and Drug Administration and other
regulatory reviews and approvals, competitive developments
affecting the Company's product candidates, delays in product
development or clinical trials or other studies, patent disputes
and other intellectual property developments relating to the
Company's product candidates, unexpected regulatory actions, delays
or requests, the failure of clinical trials or other studies or
results of clinical trials or other studies that do not meet
expectations, the fact that subsequent analyses of clinical trial
or study data may lead to different (including less favorable)
interpretations of trial or study results or may identify important
implications of a trial or study that are not reflected in
Company's prior disclosures, and the fact that trial or study
results or subsequent analyses may be subject to differing
interpretations by regulatory agencies, the inability to
successfully develop the Company's product candidates or receive
necessary regulatory approvals, inability to make product
candidates commercially successful, changes in anticipated
expenses, changes in the Company's financing requirements or
ability raise additional capital, and other risks and challenges
detailed in the Company's filings with the U.S. Securities and
Exchange Commission, including its Annual Report on Form 10-K for
the year ended December 31, 2012. Investors are cautioned not to
place undue reliance on any forward-looking statements that speak
only as of the date of this news release. The Company undertakes no
obligation to update these forward-looking statements to reflect
events or circumstances or changes in its expectations.
Contacts: LHA Anne Marie Fields Senior Vice President
212-838-3777 afields@lhai.com Bruce Voss Managing Director
310-691-7100 bvoss@lhai.com
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