A.P. Pharma, Inc. (OTCBB: APPA.OB), a specialty pharmaceutical company,
today announced the appointment of Barry D. Quart, Pharm.D., and Stephen
R. Davis, to its board of directors. Both Dr. Quart and Mr. Davis are
members of the executive management team of Ardea Biosciences, which
recently was acquired by AstraZeneca (NYSE: AZN) for $1.26 billion.
Their appointments bring the number of A.P. Pharma board members to six.
“Barry and Steve bring deep industry experience and impressive track
records to A.P. Pharma’s board at a pivotal time in the Company’s
development,” said John B. Whelan, A.P. Pharma's president and chief
executive officer. “Gaining access to Barry’s significant drug
development and regulatory experience will be invaluable as we seek FDA
approval for our lead product candidate, APF530, for the prevention of
chemotherapy-induced nausea and vomiting. Furthermore, Steve’s proven
business acumen will be instrumental as we prepare for the potential
commercialization of APF530 and look to maximize the value of both this
asset and our Biochronomer™ drug delivery platform.”
Dr. Quart has been president, chief executive officer and a director of
Ardea Biosciences, a biopharmaceutical company, since its founding in
December 2006. Previously, he was with Pfizer (NYSE: PFE) as senior vice
president, Pfizer Global Research and Development and the director of
Pfizer's La Jolla Laboratories, where he was responsible for
approximately 1,000 employees and an annual budget of almost $300
million. Prior to Pfizer's acquisition of the Warner-Lambert Company,
Dr. Quart was president of research and development at Agouron
Pharmaceuticals, Inc., a division of the Warner-Lambert Company. Dr.
Quart had joined Agouron in 1993 and was instrumental in the development
and registration of nelfinavir (Viracept®), which went from the lab
bench to new drug application approval in 38 months. Dr. Quart received
his Pharm.D. from University of California, San Francisco.
Mr. Davis has been executive vice president and chief operating officer
of Ardea Biosciences since April 2010. Prior to joining Ardea, Mr. Davis
served as president, chief executive officer and a director of Neurogen
Corporation, which was acquired by Ligand Pharmaceuticals (NASDAQ: LGND)
in December 2009. Prior to his appointment as chief executive officer of
Neurogen, Mr. Davis served as its executive vice president and chief
operating officer and in several other executive roles. While at
Neurogen, Mr. Davis completed numerous collaborations with global
pharmaceutical companies. Prior to Neurogen, Mr. Davis practiced as a
corporate and securities attorney with Milbank, Tweed, Hadley & McCloy
LLP. Previously, he practiced as a Certified Public Accountant with
Arthur Andersen & Co. Mr. Davis received his B.S. in Accounting from
Southern Nazarene University and his J.D. from Vanderbilt University.
About APF530
A.P. Pharma's lead product, APF530, is in development for the prevention
of both acute-onset and delayed-onset chemotherapy-induced nausea and
vomiting (CINV). APF530 contains the 5-HT3 receptor antagonist,
granisetron, formulated in the Company’s proprietary Biochronomer™ drug
delivery system, which allows therapeutic drug levels to be maintained
for five days with a single subcutaneous injection. Intravenous and oral
formulations containing granisetron are approved for the prevention of
acute-onset CINV, but not delayed-onset CINV. Granisetron was selected
because it is widely prescribed by physicians based on a
well-established record of safety and efficacy.
About A.P. Pharma
A.P. Pharma is a specialty pharmaceutical company developing products
using its proprietary Biochronomer™ polymer-based drug delivery
technology. The Company’s primary focus is on its lead product, APF530,
for the prevention of CINV. A.P. Pharma received a Complete Response
Letter on the APF530 NDA and is targeting the resubmission of the NDA
for mid-2012. The Company has additional research and development
programs that utilize its bioerodible, injectable and implantable
delivery systems. For further information, please visit the Company's
web site at www.appharma.com.
Forward-looking Statements
This news release contains "forward-looking statements" as defined by
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve risks and uncertainties, including
uncertainties associated with capital resources and liquidity, timely
development and regulatory approval of product candidates, satisfactory
completion of clinical studies, progress in research and development
programs, launch and acceptance of new products and other risks and
uncertainties identified in the Company's filings with the Securities
and Exchange Commission. We caution investors that forward-looking
statements reflect our analysis only on their stated date. We do not
intend to update them except as required by law.
