NPS Appoints Dr. Bo Joelsson as Head of Clinical Research

BEDMINSTER, N.J.--(BUSINESS WIRE)--NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) announced today the appointment of Bo Joelsson, M.D., Ph.D., as head of clinical research reporting to Alan Harris, M.D., Ph.D., senior vice president R & D and chief medical officer of NPS. One of Dr. Joelsson’s key responsibilities at NPS will be to advance the clinical development of GATTEX™ (teduglutide), the company’s investigational drug for the treatment of intestinal failure associated with short bowel syndrome, necrotizing enterocolitis and gastrointestinal mucositis. Dr. Joelsson, a specialist in gastroenterology, brings 15 years of clinical experience and 20 years of global pharmaceutical industry experience to NPS. He has led the clinical development of several major gastrointestinal products, including Tagamet® (cimetidine), Prilosec® (omeprazole), and Nexium® (esomeprazole magnesium).

“With his continued leadership in the gastroenterology community and successful record of developing major GI products, Bo is eminently well-qualified to play this important role. I am confident his knowledge and experience in this area will be extremely helpful as we explore the therapeutic potential of GATTEX.”

Dr. Joelsson joins NPS from Novartis, where he served in a number of senior leadership positions, including head of gastrointestinal clinical research and development. Before Novartis, Dr. Joelsson was global medical product director at AstraZeneca, where he directed a global initiative for the development, commercialization, and life-cycle management of Prilosec and Nexium. Previously, he held senior clinical development, medical affairs and gastrointestinal-product management positions at AstraMerck, Merck and SmithKline Beecham.

“We are very excited to have Bo Joelsson join NPS to help lead our gastroenterology clinical research programs,” said Dr. Harris. “With his continued leadership in the gastroenterology community and successful record of developing major GI products, Bo is eminently well-qualified to play this important role. I am confident his knowledge and experience in this area will be extremely helpful as we explore the therapeutic potential of GATTEX.”

Dr. Joelsson is the author of 50 peer-reviewed publications. He received his medical degree from Karolinska Institute in Stockholm and his doctor of philosophy degree in general surgery and gastroenterology from Lund University.

About NPS Pharmaceuticals

NPS Pharmaceuticals is developing specialty therapeutics for gastrointestinal and endocrine disorders with high unmet medical need. The company is currently advancing two late-stage programs. Teduglutide, a proprietary analog of GLP-2, is in Phase 3 clinical development for intestinal failure associated with short bowel syndrome as GATTEX™ and in preclinical development for gastrointestinal mucositis and necrotizing enterocolitis. NPSP558 (parathyroid hormone 1-84 [rDNA origin] injection) is in Phase 2 clinical development as a hormone therapy for hypoparathyroidism. NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes strategic partnerships with Amgen, GlaxoSmithKline, Janssen, Kirin, and Nycomed. Additional information is available at http://www.npsp.com.

“NPS” and “NPS Pharmaceuticals” are the company’s registered trademarks. Preotact^® is the company’s registered trademark in the U.S. All other trademarks, trade names or service marks appearing in this press release are the property of their respective owners.

Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the company's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Risks associated to NPS’s business include, but are not limited to, the risk of not successfully executing its preclinical and clinical studies and not gaining marketing approvals for GATTEX and NPSP558, the risks associated with the implementation of a new business strategy, the risks associated with the company’s auction-rate securities, as well as other factors expressed in NPS’s periodic filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Form 10-Qs. All information in this press release is as of the date of this release and NPS undertakes no duty to update this information.