DGAP-News: Raptor Pharmaceutical Hires Patrick Reichenberger to Lead Commercial Development of DR Cysteamine for Nephropathic Cystinosis
ID: 325593
10.01.2011 12:30
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Contracts in Place for Cambrex Corporation and Patheon, Inc. to Manufacture
Active Pharmaceutical Ingredient and Commercial Product, Respectively
NOVATO, Calif., 2011-01-10 12:30 CET (GLOBE NEWSWIRE) --Raptor Pharmaceutical Corp. ('Raptor' or the 'Company') (Nasdaq:RPTP) announced
today the appointment of Patrick Reichenberger to the newly created position of
Vice President, Commercial Operations. Additionally, Raptor has engaged Cambrex
Corporation (NYSE:CMB) for the manufacturing of the active pharmaceutical
ingredient ('API'), cysteamine bitartrate, and Patheon, Inc. (TSX:PTI) to
produce the commercial product, DR Cysteamine.
A 20-year industry veteran with significant expertise in commercial operations
and product-launch management, Mr. Reichenberger will lead the development and
management of Raptor's sales and marketing efforts along with its commercial
manufacturing, supply and distribution programs. Prior to joining Raptor, Mr.
Reichenberger served as Senior Director of Commercial Development at XOMA, LLC.
In this role, he led XOMA's commercial development department with particular
emphasis on XOMA 052, an anti-IL1 antibody for diabetes, cardiovascular
disease, and Behcet's Uveits, an orphan disease.
Prior to XOMA, Mr. Reichenberger was in charge of marketing, sales and
distribution at Questcor Pharmaceuticals where he developed patient access and
reimbursement programs supporting the successful commercial re-launch of H.P.
Acthar(r) Gel for the treatment of infantile spasms, an ultra-orphan, pediatric
disease. Prior to Questcor, he led commercial and strategic marketing for
brands at Genentech, Athena Neurosciences, and Parke-Davis, where he assisted
in the launch of Lipitor(r).
'The addition of Patrick is particularly appropriate at this time as we work
towards a potential commercial launch of DR Cysteamine for nephropathic
cystinosis in 2012. His hands-on commercial development expertise will be
central to our efforts to build the necessary commercial infrastructure and
capability for the near term and as the Company grows in later years.' stated
Christopher M. Starr, Ph.D., Chief Executive Officer of Raptor.
Mr. Reichenberger stated 'My experience in building commercial infrastructures
around orphan therapeutics, especially Acthar(r) Gel, is particularly applicable
to Raptor's nephropathic cystinosis program. I am encouraged by the
enthusiastic patient and foundation support for Raptor's DR Cysteamine program,
and I look forward to working to create a sound patient access program ready
for commercial launch. While developing and implementing such a program for
nephropathic cystinosis is my top priority at Raptor, I am also very excited
about the entire Raptor pipeline. I am impressed with the commercial
opportunities at Raptor with a near term program in an orphan indication for
nephropathic cystinosis and mid-stage programs in other indications, including
Huntington's Disease and NASH. I'm pleased to have the opportunity to use all
of my capabilities, from long-term strategic planning to practical marketing
and sales, in this position.'
Ted Daley, President of Raptor stated 'We are very pleased to welcome Patrick
to lead our commercial efforts. The addition of Patrick to our leadership team,
along with our recently established long-term manufacturing agreements with
Cambrex and Patheon, are significant milestones in the continued advancement of
our DR Cysteamine programs. Both Cambrex and Patheon have significant expertise
working with cysteamine bitartrate. Cambrex has provided us with cysteamine
bitartrate for all our clinical studies and, for over 10 years, has been one of
the few API manufacturers worldwide that is capable of providing a commercial
source of pharmaceutical-grade cysteamine bitartrate. Patheon developed
Raptor's DR Cysteamine microbead formulation and currently manufactures our
clinical drug supply. We look forward to employing their combined expertise and
capabilities in our commercial manufacturer.'
About Nephropathic Cystinosis
Nephropathic cystinosis is an inborn metabolic error characterized by the
abnormal transport of cystine, an amino acid, out of the lysosomes. Failure to
treat nephropathic cystinosis can cause serious health consequences, including
renal failure and resultant kidney transplant, growth failure, rickets,
photophobia and blindness. Symptom onset typically occurs within the first year
of life, when cystine crystals accumulate in various tissues and organs,
including the kidneys, brain, liver, thyroid, pancreas, muscles and eyes.
About Cysteamine and DR Cysteamine
DR Cysteamine is Raptor's proprietary enteric-coated, microbead oral
formulation of cysteamine bitartrate designed to potentially reduce dosing
frequency and gastrointestinal side effects associated with immediate-release
cysteamine bitartrate, which is approved for sale by the FDA and EMA to treat
nephropathic cystinosis, a rare, genetic lysosomal storage disease.
In December 2007, Raptor obtained an exclusive, worldwide license from the
University of California, San Diego for the development DR Cysteamine for
nephropathic cystinosis and cysteamine for other potential indications
including Huntington's Disease, NASH and Batten Disease.
About Raptor Pharmaceutical Corp.
Raptor Pharmaceutical Corp. (Nasdaq:RPTP) ('Raptor') is dedicated to speeding
the delivery of new treatment options to patients by working to improve
existing therapeutics through the application of highly specialized drug
targeting platforms and formulation expertise. Raptor focuses on underserved
patient populations where it can have the greatest potential impact. Raptor
currently has product candidates in clinical development designed to
potentially treat nephropathic cystinosis, non-alcoholic steatohepatitis
('NASH'), Huntington's Disease ('HD'), aldehyde dehydrogenase ('ALDH2')
deficiency, and thrombotic disorder.
Raptor's preclinical programs are based upon bioengineered novel drug
candidates and drug-targeting platforms derived from the human
receptor-associated protein ('RAP') and related proteins that are designed to
target cancer, neurodegenerative disorders and infectious diseases.
For additional information, please visit www.raptorpharma.com.
H.P. Acthar(r) Gel is a registered trademark of Questcor Pharmaceuticals.
Lipitor(r) is a registered trademark of Pfizer Inc.
The Raptor Pharmaceutical Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7180
FORWARD LOOKING STATEMENTS
This document contains forward-looking statements as that term is defined in
the Private Securities Litigation Reform Act of 1995. These statements relate
to future events or our future results of operation or future financial
performance, including, but not limited to the following statements: that DR
Cysteamine for nephropathic cystinosis will be approved for marketing and
Raptor will require sales and marketing efforts and commercial manufacturing,
supply and distribution programs; that Raptor will commercially launch DR
Cysteamine in 2012; that Raptor will build a commercial infrastructure for the
near term and that the Company will grow in later years; that Raptor will
create a sound patient access program for nephropathic cystinosis, readyfor
commercial launch; that Raptor has mid-term commercial opportunities,
including for Huntington's Disease and NASH; that DR Cysteamine will reduce
dosing frequency and gastrointestinal side effects in nephropathic cystinosis
patients; and that Raptor will be able to successfully develop DR Cysteamine
or any of its other product candidates. These statements are only predictions
and involve known and unknown risks, uncertainties and other factors, which may
cause the Company's actual results to be materially different from these
forward-looking statements. Factors which may significantly change or prevent
the Company's forward looking statements from fruition include that Raptor may
be unsuccessful in developing any products or acquiring products; that Raptor's
technology may not be validated as it progresses further and its methods may
not be accepted by the scientific community; that Raptor is unable to retain or
attract key employees whose knowledge is essential to the development of its
products; that unforeseen scientific difficulties develop with the Company's
process; that Raptor's patents are not sufficient to protect essential aspects
of its technology; that competitors may invent better technology; that Raptor's
products may not work as well as hoped or worse, that the Company's products
may harm recipients; and that Raptor may not be able to raise sufficient funds
for development or working capital. As well, Raptor's products may never
develop into useful products and even if they do, they may not be approved for
sale to the public. Raptor cautions readers not to place undue reliance on any
such forward-looking statements, which speak only as of the date they were
made. Certain of these risks, uncertainties, and other factors are described in
greater detail in the Company's filings from time to time with the Securities
and Exchange Commission (the 'SEC'), which Raptor strongly urges you to read
and consider, including Raptor's annual report on Form 10-K filed with the SEC
on November 22, 2010, which is available free of charge on the SEC's web site
at http://www.sec.gov. Subsequent written and oral forward-looking statements
attributable to Raptor or to persons acting on its behalf are expressly
qualified in their entirety by the cautionary statements set forth in Raptor's
reports filed with the SEC. Raptor expressly disclaims any intent or obligation
to update any forward-looking statements.
CONTACT: Trout Group (investors)
Lauren Glaser
(646) 378-2972
lglaser@troutgroup.com
The Ruth Group (media)
Jason Rando
(646) 536-7025
jrando@theruthgroup.com
News Source: NASDAQ OMX
10.01.2011 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Raptor Pharmaceutical Corp.
United States
Phone:
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Internet:
ISIN: US75382F1066
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Datum: 10.01.2011 - 12:30 Uhr
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News-ID 325593
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