TORONTO--(BUSINESS WIRE)--Cynapsus Therapeutics Inc. (TSX:CTH) (OTCQX:CYNAF), a specialty pharmaceutical company focused on the treatment of OFF episodes in Parkinson’s disease, today announced that Tamar Howson has been appointed to the Company's Board of Directors. With the addition of Ms. Howson to the Board of Directors, the Company now has eight directors, with seven directors classified as independent.
Ms. Howson is a seasoned business development executive within the pharmaceutical industry, having formerly served as Senior Vice President at both Bristol-Myers Squibb and SmithKline Beecham. Ms. Howson currently serves as a business development and strategy consultant to biopharmaceutical companies and she also serves as a director at Actavis, Oxigene Pharmaceuticals, Cardax and Organovo. She has formerly served as a director at several biotechnology companies, including Ariad, Idenix Pharmaceuticals, NPS Pharmaceuticals, SkyePharma and Warner Chilcott.
From 2009 to 2011, she was a member of the transaction advisory firm, JSB Partners. During 2007 and 2008, Ms. Howson served as Executive Vice President of Corporate and Business Development at Lexicon Pharmaceuticals, a biotechnology company. Between 2001 and 2007, Ms. Howson was the Senior Vice President of Corporate and Business Development at Bristol-Myers Squibb, overseeing mergers, acquisitions, licensing and research collaborations across all business sectors. Between 1991 and 2000, she was Vice President and then Senior Vice President and Director of Worldwide Business and Corporate Development for SmithKline Beecham, where she also managed SmithKline Beecham's $100 million venture capital fund, SR One.
Ms. Howson holds an MBA from Columbia University, a MS from City University of New York, and a BS in Chemical Engineering from the Technion-Israel Institute of Technology.
"We are delighted to have Tamar join our Board. Her pharmaceutical business development experience will be invaluable as Cynapsus advances its pivotal Phase 3 program for APL-130277 and prepares for commercialization. Tamar's background and experience will complement the Board as we work together to guide and shape the future success of Cynapsus," commented Rochelle Stenzler, Chair of the Board of Cynapsus.
"Cynapsus has broad potential to impact the lives of Parkinson’s patients," Ms. Howson said. "I am pleased to be joining Cynapsus at such an exciting time in its development and look forward to working with my fellow directors to assist in delivering the greatest possible impact in this important therapeutic area."
Cynapsus is a specialty pharmaceutical company developing a sublingual thin filmstrip for the acute rescue of OFF episodes associated with Parkinson’s disease. Cynapsus’ drug candidate, APL-130277, currently in late-stage clinical development, is an easy-to-use, fast-acting, formulation of apomorphine, which is the only approved drug (in the United States, Europe, Japan and other countries) to rescue patients from OFF episodes. Cynapsus anticipates completing pivotal studies to support a 505(b)(2) New Drug Application (NDA) expected to be submitted in 2016.
Parkinson’s disease is a chronic and progressive neurodegenerative disease. OFF episodes are periods of time during which PD symptoms re-emerge despite taking PD medicines. Symptoms include stiffness, slow movements and difficulty in starting movements, greatly impacting a patient’s quality of life and ability to work. More than 1 million people in the U.S. and an estimated 4 million to 6 million people globally suffer from Parkinson's disease with prevalence increasing with the aging of the population. It is estimated that up to one half of all people with Parkinson’s disease experience OFF episodes at least once daily and up to six times daily, with each episode lasting between 30 and 120 minutes.
Forward Looking Statements
This announcement contains "forward-looking statements" within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Cynapsus to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks and uncertainties relating to Cynapsus’ business disclosed under the heading “Risk Factors” in its Annual Information Form and its other filings with the various Canadian securities regulators which are available online at www.sedar.com. Although Cynapsus has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cynapsus does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
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