BRIDGEWATER, N.J., Nov. 14, 2019 /PRNewswire/ -- Insmed
Incorporated (Nasdaq: INSM), a global biopharmaceutical company on
a mission to transform the lives of patients with serious and rare
diseases, today announced the appointment of Clarissa Desjardins, Ph.D., to its Board of
Directors. Dr. Desjardins has more than 20 years of leadership
experience in biotechnology, pharmaceuticals and research, and
currently serves as President and Chief Executive Officer of
Clementia Pharmaceuticals Inc., recently acquired by Ipsen S.A.
Insmed also announced the promotion of Roger Adsett, the Company's Chief Commercial
Officer, to Chief Operating Officer, effective immediately. In
addition to his current responsibilities, Mr. Adsett will now
assume responsibility for Insmed's overall business operations on a
global basis in this newly created role. Mr. Adsett will continue
to report to Will Lewis, Chairman of the Board and Chief
Executive Officer of Insmed.
"Insmed is accelerating its efforts to bring
ARIKAYCE® to patients around the world. In order to
accomplish this and continue to develop our pipeline, we
are making the appropriate leadership and related changes
to enhance our global operations. At the Board level, this means
adding individuals with exceptional talent and skill sets to
help advise and direct management on this journey. We are
thrilled with the addition of Clarissa to our Board of
Directors. Clarissa brings over two decades of scientific and
industry experience across multiple functional roles, including
therapeutic product development, finance, business development and
intellectual property management to our Board," said Will Lewis, Chairman and Chief Executive Officer
of Insmed.
"I'm excited to join the Board at this important point in
Insmed's evolution into a global commercial organization," said Dr.
Desjardins. "I believe my industry experience and expertise in rare
diseases will serve the Company well as we work to advance Insmed's
mission to transform the lives of patients with serious and rare
diseases. I look forward to working with the Insmed management team
and other Board members going forward."
Since founding Clementia in 2011, Dr. Desjardins has served as
the company's Chief Executive Officer. Prior to Clementia, she was
Chief Executive Officer and a member of the board of directors at
the Centre of Excellence in Personalized Medicine
(CEPMED), a Montreal-based
federally and privately funded non-profit enterprise created to
promote personalized medicine. In 1998, Dr. Desjardins co-founded
Caprion Pharmaceuticals, a biotechnology company focused on
proteomic biomarker discovery and drug development, where she was
Senior Vice President of Corporate Development and served on the
board of directors. Dr. Desjardins also founded Advanced
Bioconcept, a research reagent and diagnostics company, in 1992,
which was sold to NEN Life Sciences (since acquired by PerkinElmer)
in 1998. Dr. Desjardins earned a doctorate in neurology and
neurosurgery from McGill University's
Faculty of Medicine and was a Medical Research Council postdoctoral
fellow at the Douglas Hospital Research Centre at McGill University. She currently serves on the
Board of Directors for BELLUS Health Inc.
"In addition to enhancing our Board of Directors, I am also
excited to expand the responsibilities of Roger Adsett through his appointment to the
newly created role of Chief Operating Officer. Roger has shown
tremendous leadership during our first year of commercial launch in
the U.S. while also leading the effort to establish the
key elements of our global infrastructure. In his new role, he
will now be able to direct on a comprehensive basis the advancement
of ARIKAYCE and our pipeline products through development, and
potential approval and commercial launch in all regions.
I am also pleased to announce the promotion of Drayton Wise to SVP, Head of United States which will enable him to further
oversee the continued success of ARIKAYCE. As General Manager
worldwide for this product, Drayton has played a pivotal role in
the successful commercial launch of ARIKAYCE, and in his new role
he will have the ability to replicate the elements of
that successful launch and apply them to our pipeline products,"
said Will Lewis, Chairman and Chief
Executive Officer of Insmed.
About Insmed
Insmed Incorporated is a global biopharmaceutical company on a
mission to transform the lives of patients with serious and rare
diseases. Insmed's first commercial product,
ARIKAYCE® (amikacin liposome inhalation
suspension), is the first and only therapy approved in the
United States for the treatment of
refractory Mycobacterium avium complex (MAC) lung
disease as part of a combination antibacterial drug regimen for
adult patients with limited or no alternative treatment options.
MAC lung disease is a chronic, debilitating condition that can
cause severe and permanent lung damage. Insmed's earlier-stage
clinical pipeline includes INS1007, a novel oral reversible
inhibitor of dipeptidyl peptidase 1 with therapeutic potential in
non-cystic fibrosis bronchiectasis and other inflammatory diseases,
and INS1009, an inhaled formulation of a treprostinil prodrug that
may offer a differentiated product profile for rare pulmonary
disorders, including pulmonary arterial hypertension. For
more information, visit www.insmed.com.
Forward-looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. "Forward-looking
statements," as that term is defined in the Private Securities
Litigation Reform Act of 1995, are statements that are not
historical facts and involve a number of risks and uncertainties.
Words herein such as "may," "will," "should," "could," "would,"
"expects," "plans," "anticipates," "believes," "estimates,"
"projects," "predicts," "intends," "potential," "continues," and
similar expressions (as well as other words or expressions
referencing future events, conditions or circumstances) may
identify forward-looking statements.
The forward-looking statements in this press release are based
upon the Company's current expectations and beliefs, and involve
known and unknown risks, uncertainties and other factors, which may
cause the Company's actual results, performance and achievements
and the timing of certain events to differ materially from the
results, performance, achievements or timing discussed, projected,
anticipated or indicated in any forward-looking statements. Such
risks, uncertainties and other factors include, among others, the
following: failure to successfully commercialize or maintain U.S.
approval for ARIKAYCE, the Company's only approved product;
uncertainties in the degree of market acceptance of ARIKAYCE by
physicians, patients, third-party payers and others in the
healthcare community; the Company's inability to obtain full
approval of ARIKAYCE from the FDA, including the risk that the
Company will not successfully develop and validate the PRO tool and
complete the confirmatory post-marketing study required for full
approval; inability of the Company, PARI or the Company's other
third party manufacturers to comply with regulatory requirements
related to ARIKAYCE or the Lamira® Nebulizer
System; the Company's inability to obtain adequate reimbursement
from government or third-party payers for ARIKAYCE or acceptable
prices for ARIKAYCE; development of unexpected safety or efficacy
concerns related to ARIKAYCE; inaccuracies in the Company's
estimates of the size of the potential markets for ARIKAYCE or in
data the Company has used to identify physicians; expected rates of
patient uptake, duration of expected treatment, or expected patient
adherence or discontinuation rates; the Company's inability to
create an effective direct sales and marketing infrastructure or to
partner with third parties that offer such an infrastructure for
distribution of ARIKAYCE; failure to obtain regulatory approval to
expand ARIKAYCE's indication to a broader patient population;
failure to successfully conduct future clinical trials for ARIKAYCE
and the Company's product candidates, including due to the
Company's limited experience in conducting preclinical development
activities and clinical trials necessary for regulatory approval
and the Company's inability to enroll or retain sufficient patients
to conduct and complete the trials or generate data necessary for
regulatory approval; risks that the Company's clinical studies will
be delayed or that serious side effects will be identified during
drug development; failure to obtain, or delays in obtaining,
regulatory approvals for ARIKAYCE outside the U.S. or for the
Company's product candidates in the
U.S., Europe, Japan or other markets, including as a
result of the United Kingdom's
planned exit from the European Union; failure of third parties on
which the Company is dependent to manufacture sufficient quantities
of ARIKAYCE or the Company's product candidates for commercial or
clinical needs, to conduct the Company's clinical trials, or to
comply with laws and regulations that impact the Company's business
or agreements with the Company; the Company's inability to attract
and retain key personnel or to effectively manage the Company's
growth; the Company's inability to adapt to its highly competitive
and changing environment; the Company's inability to adequately
protect its intellectual property rights or prevent disclosure of
its trade secrets and other proprietary information and costs
associated with litigation or other proceedings related to such
matters; restrictions or other obligations imposed on the Company
by its agreements related to ARIKAYCE or the Company's product
candidates, including its license agreements with PARI and
AstraZeneca AB, and failure of the Company to comply with its
obligations under such agreements; the cost and potential
reputational damage resulting from litigation to which the Company
is or may become a party, including product liability claims; the
Company's limited experience operating internationally; changes in
laws and regulations applicable to the Company's business and
failure to comply with such laws and regulations; inability to
repay the Company's existing indebtedness and uncertainties with
respect to the Company's ability to access future capital; and
delays in the execution of plans to build out an additional
third-party manufacturing facility and unexpected expenses
associated with those plans and with the move into the
Company's new headquarters.
The Company may not actually achieve the results, plans,
intentions or expectations indicated by the Company's
forward-looking statements because, by their nature,
forward-looking statements involve risks and uncertainties because
they relate to events and depend on circumstances that may or may
not occur in the future. For additional information about the risks
and uncertainties that may affect the Company's business, please
see the factors discussed in Item 1A, "Risk Factors," in the
Company's Annual Report on Form 10-K for the year
ended December 31, 2018 and any subsequent Company
filings with the Securities and Exchange Commission.
The Company cautions readers not to place undue reliance on any
such forward-looking statements, which speak only as of the date of
this press release. The Company disclaims any obligation, except as
specifically required by law and the rules of the Securities and
Exchange Commission, to publicly update or revise any such
statements to reflect any change in expectations or in events,
conditions or circumstances on which any such statements may be
based, or that may affect the likelihood that actual results will
differ from those set forth in the forward-looking statements.
Contact:
Blaine Davis
Head of Investor Relations and Corporate Communications
Insmed Incorporated
(908) 947-2841
blaine.davis@insmed.com
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SOURCE Insmed Incorporated