BRIDGEWATER, N.J., Jan. 30, 2020 /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 Sara Bonstein as Chief Financial Officer,
effective January 31, 2020. Ms.
Bonstein will assume responsibility for leading the Company's
global financial operations, including financial planning and
analysis, investor relations, accounting, tax and treasury. Sara
will also serve as a member of Insmed's Executive Committee.
"Sara is an exciting addition to our management team as we
continue our efforts to bring ARIKAYCE® to patients
around the world," said Will Lewis,
Chairman and Chief Executive Officer of Insmed. "In addition to her
experience as a public company CFO, she also brings expertise in
process improvement and a unique perspective from having served at
both large and smaller life sciences companies. Sara is an
exceptional talent and her extensive financial and leadership
experience will be important as we continue to transform into a
global, commercial organization, and we welcome her to the
team."
Ms. Bonstein joins Insmed with more than 15 years of financial
and operational experience in the life sciences industry, most
recently serving as Chief Financial Officer & Chief Operating
Officer of OncoSec Medical Incorporated. Prior to joining OncoSec,
Ms. Bonstein served as the Chief Financial Officer, Secretary,
Treasurer and Executive Vice President at Advaxis, Inc. Before
Advaxis, Ms. Bonstein was a Six Sigma Champion & Black Belt at
Eli Lilly & Company. She also held key finance positions at
ImClone Systems and Johnson & Johnson. Ms. Bonstein holds a
Masters of Business Administration from Rider
University and a Bachelor of Science in Finance from The
College of New Jersey.
"I am excited to be joining Insmed in the early phase of its
international commercial expansion and its ambition to bring this
success to other product development opportunities aligns with my
background. I look forward to leading Insmed's financial operations
and joining the executive team," commented Ms. Bonstein. "I am
confident my past experience and industry expertise will serve the
Company well and further its goal to transform the lives of
patients with serious and rare diseases."
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 payors 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 timely and successfully complete the study to
validate the PRO tool and 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
payors 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 the
United Kingdom 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, including any
pricing reform, 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.
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:
Argot Partners
Laura Perry or Heather Savelle
(212) 600-1902
laura@argotpartners.com
heather@argotpartners.com
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SOURCE Insmed Incorporated