Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in its
commitment to non-opioid pain management and regenerative health
solutions, today announced the appointments of Marcelo Bigal, MD,
PhD, Abraham Ceesay, Michael Yang, and Alethia Young, to its Board
of Directors effective immediately.
“We are pleased to welcome these four highly seasoned executives
to our Board of Directors, whose experience will enhance our board
as we advance on our strategic objectives across multiple key
areas,” said Dave Stack, chairman and chief executive officer of
Pacira BioSciences.
Paul Hastings, Lead Independent Director of the Pacira Board,
added, “The addition of these new directors underscores our
commitment to ensuring strong corporate governance by maintaining a
diversity of skills, experience, and perspectives on our board. We
look forward to their contributions going forward as we continue to
build upon our leadership position in non-opioid pain
management.”
Each of the new directors adds diversity of experience and
background to the Pacira board of directors, while also enhancing
racial and gender diversity. Following these director appointments,
Pacira will have 12 experienced directors, all with relevant
industry experience.
About Marcelo Bigal, MD, PhD
Dr. Bigal is the President and Chief Executive Officer of Ventus
Therapeutics and brings extensive experience in neurology to the
Pacira Board of Directors. He has published over 330 peer-reviewed
papers in the field of neurology, as well as five books. He has
been recognized by the American Academy of Neurology with the
Harold G. Wolff Award for excellence in research in neurology.
Dr. Bigal has over 15 years of pharmaceutical experience
spanning research and development; medical affairs; and scientific
affairs. Prior to Ventus, he was CMO and Head of Specialty Research
and Development at Teva Pharmaceuticals, as well as CMO at Labrys
Biologicals, leading the team that developed fremanezumab (AJOVY®)
for several forms of migraine, as well as deutetrabenazine
(AUSTEDO®) for the treatment of Huntington's disease and tardive
dyskinesia, as well as other medicines in neurology, psychiatry,
pain, and respiratory diseases approved in the US, Canada, and
EU.
Prior to his work in the pharmaceutical industry, Dr. Bigal was
a faculty member at the Albert Einstein College of Medicine,
Department of Neurology, as well as the Director of Research at New
England Center for Headache and Director of Research at Montefiore
Headache Center.
About Abraham Ceesay
Mr. Ceesay brings nearly two decades of biopharmaceutical
industry experience to the Pacira Board of Directors. He is
currently serving as Chief Executive Officer of Rapport
Therapeutics. Before Rapport, he served as President of Cerevel
Therapeutics from May 2021 through February 2023, and was
previously Chief Executive Officer of Tiburio Therapeutics, where
he built a fully integrated company that led to the investigational
new drug enablement for a rare neuroendocrine tumor. Prior to
joining Tiburio, Mr. Ceesay held positions including Chief
Operating Officer at scPharmaceuticals, Head of Commercial at Keryx
Biopharmaceuticals, Vice President of Marketing at Ironwood
Pharmaceuticals, and roles of increasing responsibility at Sanofi,
formerly Genzyme. Mr. Ceesay serves as Chairman of the Board for
Life Science Cares and on the Board of Trustees at The Museum of
Science in Boston.
About Michael Yang
Mr. Yang has more than 20 years of broad commercialization and
senior level leadership experience in biotech, pharmaceutical, and
medical device companies, where he launched new platforms, expanded
global revenues, and diversified product lines. He most recently
served as President and Chief Executive Officer of ViaCyte, which
was acquired by Vertex in 2022. Prior to ViaCyte, Mr. Yang was
Executive Vice President and Chief Commercial Officer at Acadia
Pharmaceuticals from 2017 to 2021. During his tenure, Acadia
transformed the standard of care for patients with Parkinson's
disease psychosis. Prior to Acadia, Mr. Yang was President of
Janssen Biotech Inc., where was responsible for building Janssen's
U.S. immunology business, generating more than $8 billion in annual
revenues.
About Alethia Young
Ms. Young is currently Chief Financial Officer of Bicycle
Therapeutics. Previously, Ms. Young was Chief Financial Officer at
Graphite Bio, and prior to that, she served as Senior Biotech
Analyst and Head of Research at Cantor Fitzgerald, managing the
Equity Research Department covering small-cap, mid-cap and
large-cap biotechnology companies. Before joining Cantor Fitzgerald
in 2018, Ms. Young held senior biotech analyst positions at Credit
Suisse and Deutsche Bank. Earlier in her career, she was a research
policy analyst and President at Marwood Group, providing
healthcare-focused advisory services to institutional investors.
She began her career at J.P. Morgan in the investment banking and
asset management divisions.
About Pacira
Pacira BioSciences, Inc. (Nasdaq: PCRX) is committed to
providing non-opioid pain management options to as many patients as
possible to redefine the role of opioids as rescue therapy only.
The company is also developing innovative interventions to address
debilitating conditions involving the sympathetic nervous system,
such as cardiac electrical storm, chronic pain, and spasticity.
Pacira has three commercial-stage non-opioid treatments: EXPAREL®
(bupivacaine liposome injectable suspension), a long-acting local
analgesic currently approved for infiltration, fascial plane block,
and as an interscalene brachial plexus nerve block for postsurgical
pain management; ZILRETTA® (triamcinolone acetonide
extended-release injectable suspension), an extended-release,
intra-articular injection indicated for the management of
osteoarthritis knee pain; and ioveraº®, a novel, handheld device
for delivering immediate, long-acting, drug-free pain control using
precise, controlled doses of cold temperature to a targeted nerve.
To learn more about Pacira, including the corporate mission to
reduce overreliance on opioids, visit www.pacira.com.
Forward-Looking Statements
Any statements in this press release about Pacira’s future
expectations, plans, trends, outlook, projections and prospects,
and other statements containing the words “believes,”
“anticipates,” “plans,” “estimates,” “expects,” “intends,” “may,”
“will,” “would,” “could,” “can” and similar expressions, constitute
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements related to our growth and
future operating results and trends, our strategy, plans,
objectives, expectations (financial or otherwise) and intentions,
future financial results and growth potential, including our plans
with respect to the repayment of our indebtedness, anticipated
product portfolio, development programs, patent terms, development
of products, strategic alliances and intellectual property and
other statements that are not historical facts. For this purpose,
any statement that is not a statement of historical fact should be
considered a forward-looking statement. We cannot assure you that
our estimates, assumptions and expectations will prove to have been
correct. Actual results may differ materially from those indicated
by such forward-looking statements as a result of various important
factors, including risks relating to, among others: risks
associated with acquisitions, such as the risk that the acquired
businesses will not be integrated successfully, that such
integration may be more difficult, time-consuming or costly than
expected or that the expected benefits of the transaction will not
occur; the lingering impact of the COVID-19 pandemic on elective
surgeries, our manufacturing and supply chain, global and U.S.
economic conditions (including inflation and rising interest
rates), and our business, including our revenues, financial
condition, cash flow and results of operations; the success of our
sales and manufacturing efforts in support of the commercialization
of EXPAREL, ZILRETTA and iovera°; the rate and degree of market
acceptance of EXPAREL, ZILRETTA and iovera°; the size and growth of
the potential markets for EXPAREL, ZILRETTA and iovera° and our
ability to serve those markets; our plans to expand the use of
EXPAREL, ZILRETTA and iovera° to additional indications and
opportunities, and the timing and success of any related clinical
trials for EXPAREL, ZILRETTA and iovera°; the commercial success of
EXPAREL, ZILRETTA and iovera°; the related timing and success of
U.S. Food and Drug Administration supplemental New Drug
Applications and premarket notification 510(k)s; the related timing
and success of European Medicines Agency Marketing Authorization
Applications; our plans to evaluate, develop and pursue additional
product candidates utilizing our proprietary multivesicular
liposome (“pMVL”) drug delivery technology; the approval of the
commercialization of our products in other jurisdictions; clinical
trials in support of an existing or potential pMVL-based product;
our commercialization and marketing capabilities; our ability to
successfully complete an EXPAREL capacity expansion project in San
Diego, California; our ability to successfully complete a ZILRETTA
capital project in Swindon, England; the outcome of any litigation;
the ability to successfully integrate any future acquisitions into
our existing business; the recoverability of our deferred tax
assets; assumptions associated with contingent consideration
payments; and factors discussed in the “Risk Factors” of our most
recent Annual Report on Form 10-K and in other filings that we
periodically make with the Securities and Exchange Commission (the
“SEC”). In addition, the forward-looking statements included in
this press release represent our views as of the date of this press
release. Important factors could cause actual results to differ
materially from those indicated or implied by forward-looking
statements, and as such we anticipate that subsequent events and
developments will cause our views to change. Except as required by
applicable law, we undertake no intention or obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, and readers should not
rely on these forward-looking statements as representing our views
as of any date subsequent to the date of this press release.
These forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance or achievements to differ
materially from those expressed or implied by these statements.
These factors include the matters discussed and referenced in the
“Risk Factors” of our most recent Annual Report on Form 10-K and in
other filings that we periodically make with the SEC.
Investor Contact:
Susan Mesco, (973) 451-4030
susan.mesco@pacira.com
Media Contact:
Amber Sears, (973) 254-3587
amber.sears@pacira.com
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